Coinbase sucks

[The Sceptical Chymist]

Sounds like OP is blaming Coinbase for his mistake.  You should have known that your funds get debited no later than the next day from your account.  If you try to buy something with no money in your account, are you really surprised that you got an insufficient funds fee?  Derp.

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[DannyHamilton]

Sounds like OP is blaming Coinbase for his mistake.  You should have known that your funds get debited no later than the next day from your account.  If you try to buy something with no money in your account, are you really surprised that you got an insufficient funds fee?  Derp.

When this is done with a paper check it's known as "Check Kiting", and it's considered fraud and illegal in many jurisdictions.

I'm not as sure about when it's done with an ACH transfer.

[PenguinFire]

I personally have never had a problem with coinbase.  The fact is you didn't have the funds in your account at the time of the trade and you did state you had read and understood the terms of services.  Try not to let it get to you and just take it as a learning lesson and trade elsewhere. 

[QuestionAuthority]

I thought Bitcoin was instant. Why would they tell him on Monday that he wouldn't get it until Friday?

[DannyHamilton]

I thought Bitcoin was instant. Why would they tell him on Monday that he wouldn't get it until Friday?

Because they planned on waiting for the bank transaction to clear and then sending the bitcoins on Friday?

But the bank transaction didn't clear, because the OP didn't have the money in the account.

[innerchaos]

its only instant after you verify your identity then they give you 1000 dollars instant limit.. any transaction larger than that would mandate a waiting period.  and yes a penny more would force you to have to wait a few days..

I think without the ID verify process you can only get 100 dollars worth instant.

[lahm-44]

thats true coinbase alwaysputs his nose into others business and thats the reason people are started hating this servic day by day
.....at first it locks your ac if you gamble on any site...then it charges the highest fees..then also it makes a lot of thinks without informing us...i will just say it is just a bit secured then the ponzie or thiefs....i will never uses that type of highly secured network where i dont have control over my money

[lexuz]

Are you buy bitcoin using credit card? If yes i think normal you get charge, i dont know how much you get charge, because look you like very dissapointed

[saddambitcoin]

This would actually never happen with Circle, because they cancel orders immediately if your bank account doesn't have enough balance.

Source: I tried buying BTC before I went to make a bank deposit and Circle did not allow it.

[pooya87]

coinbase rules for bitcoin is getting more and more ridiculous.

first there is all that verifications which negates the anonymity of bitcoin, then they will ban users that use bitcoin for gambling!! and not to mention the fees they charge. and now this is their new shenanigan for their users.

i don't know why anyone wants to use them except for just buying and transferring bitcoin out of there.

[QuestionAuthority]

Let me see if I got this right, I walk into a gold dealer and buy two canadian maple leaf gold coins worth, the day I bought them, about $2,400. The gold dealer knows nothing about me but simply runs my debit card for the amount of the sale. I walk out of the store two minutes later with the gold.

I go to Coinbase to buy $1,000 worth of bitcoin, they run my debit card, it clears for the dollars. Then I need to wait a week for them to give me my "virtual gold" because they are running some sort of background check on me? WTF?

[CoinUser123]

https://i.imgur.com/2erRtvq.png

Buy bitcoin on Monday, get told I'll receive bitcoin Friday.

Cool, so if the money's in my bank account Wednesday I'm good right

Nope, $34 fee because the money wasn't in my account four days before I'd receive the bitcoin.

Hey coinbase, why don't you take your noses out of the governments asshole for a minute and realize tattle-telling on what people do with their BTC, charging bullshit fees like this, is only going to fuck you over in the end?

You already have a shit reputation for sucking all that government cock, all it's going to take is one single decent competitor to put you assholes out of business.

p.s. your logo sucks cock, muh minimalism, muh facebook.  No self-respecting bitcoiner has any respect for you cunts.

Dood, you essentially bounced a check. How can you be mad at COINBASE? That's just retarded.

If you had made a credit card purchase Monday with a maxed out credit card that you KNEW had $0 available credit, would you be mad at the credit card company for charging you an over-the-limit fee? After all, the thing you ordered on Amazon wouldn't arrive until FRIDAY!

Circle and Coinbase are the same goddamn thing...people need to stop acting like one is better than the other. Same policies, same cost. (No, Circle is not "free")

I hate centralized exchanges too...but they are a necessary on-ramp to get regular people into BTC. They have all kinds of dumb regulation to comply with or THEY ALL GO TO JAIL.

So sick of reading angry adolescent, "I know it all", teenage-angst bullshit on this forum. Honestly, just shut the fuck up.

[Hollingsworth]

You can always use Circle, they are fast and seamless with bank transaction and no fees.

[Kprawn]

It's regulated centralized exchanges like these, that will kill the adoption in the future. I do understand the reason for this, and the possible threat to the USA if it's not done, but it goes against everything I stand for when it comes to crypto currencies.

These companies are taking on the role of the traditional banks. {Charging high fees and reporting to the governments} You get away from the one evil, only to run into the next evil.

People started to use Bitcoin to keep some sort of annonimity and also for cheaper fees... What are they doing to keep with this incentive for people to do this?

Are they only here to make money and to destroy these goals? Or are they forced to do this to keep their doors open? 

[WhatTheGox]

Buy bitcoin on Monday, get told I'll receive bitcoin Friday.

Cool, so if the money's in my bank account Wednesday I'm good right

Nope, $34 fee because the money wasn't in my account four days before I'd receive the bitcoin.

Hey coinbase, why don't you take your noses out of the governments asshole for a minute and realize tattle-telling on what people do with their BTC, charging bullshit fees like this, is only going to fuck you over in the end?

You already have a shit reputation for sucking all that government cock, all it's going to take is one single decent competitor to put you assholes out of business.

p.s. your logo sucks cock, muh minimalism, muh facebook.  No self-respecting bitcoiner has any respect for you cunts.

They are the only insured exchange i dont know if that is why you might get a higher fee? dam i just suggested them to a newbie friend for getting into bitcoin, hope they dont get hit with high fees else it puts people off bitcoin to start with.

[bitllionaire]

I agree with you

I prefer and use blockchain, I just have some mbtc in coinbase in case I need them,but I avoid it

[Frost]

Coinbase doesn't suck in my opinion. I pretty much like to use Coinbase.

[Amph]

It's regulated centralized exchanges like these, that will kill the adoption in the future. I do understand the reason for this, and the possible threat to the USA if it's not done, but it goes against everything I stand for when it comes to crypto currencies.

These companies are taking on the role of the traditional banks. {Charging high fees and reporting to the governments} You get away from the one evil, only to run into the next evil.

People started to use Bitcoin to keep some sort of annonimity and also for cheaper fees... What are they doing to keep with this incentive for people to do this?

Are they only here to make money and to destroy these goals? Or are they forced to do this to keep their doors open? 

funny because everyone was adovocating for more regualtion to help increase the bitcoin adoption, but all we get is a bunch of too hevaily restricted rules that will make everything worse

we really need that bitcoin float around decentralized thing, decentralized exchange, market, forum ecc...it does not make sense to have a decentralized system that leaning on centralized systems

coinbase also is the worst place for anonimity , they will declare everything to IRS, there is 0 anonimity if your coin ever pass through them

[ragi]

Just do not use them! They are not the only one. With all that horror stories about them I don't know how people are still using and supporting them.

[Kakmakr]

Are they making their own rules or are they taking orders from the government? Why do they block some users, when they use online gaming sites? <Suspected Money laundering?>
I prefer not to use these regulated exchanges, because I want the freedom to use any service I choose too and I do not want people scrutinizing my transaction history and exploiting my privacy.