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Author Topic: Why I will never buy from bitinstant.com again  (Read 939 times)
Betelquese
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April 09, 2013, 09:27:40 PM
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Since I started buying bitcoins in 2012 I have made 5 bitcoin purchases with bitinstant.com. With only one exception, everything single transaction has failed to be processed automatically and had to be taken care of manually. The 6th and last transaction I initiated on April 3rd. This transaction failed and I promptly contacted them via their website form. I received a response relatively quick to let me know that it was because of the mtgox lag and that my transaction should be processed in a couple of hours. No, big deal right? Well it's now April 9th, I still don't have my bitcoins or a refund. I've sent two more emails and a phone to which I've heard zero response. Meanwhile, the price of bitcoins has risen almost $100, leaving me with a huge loss on the investment opportunity. Unless bitinstant will provide me with bitcoins at the price they were on the 3rd when I initiated the transaction (which I highly doubt they'd do) I will never use them again.

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Zakendoen
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April 09, 2013, 09:28:47 PM
 #2

Sucks. I am still trying to get my MTGOX Coupon into btc-e  Undecided
wtfvanity
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April 09, 2013, 09:29:04 PM
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Try contacting them. They have a thread for newbies you can ask for support.

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Mrkeety
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April 09, 2013, 09:33:05 PM
 #4

Someone seriously needs to step up to the plate and make a faster way to get money into these exchanges.
I wanted to buy bitcoins at 80, took me 2 weeks to get verified with dwolla and mtgox, and today it's finally in but btc is now at 230, ugh.
BTCuser85
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April 09, 2013, 10:23:09 PM
 #5

Post on this reddit thread if you're having issues:

http://www.reddit.com/r/Bitcoin/comments/1bzo49/do_not_use_bitinstant/

They seem to be helping everyone who posts there and giving them the price from when the coins were actually purchased.
yanowman
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April 10, 2013, 08:13:16 AM
 #6

Ive made 5+ purchases with bitinstant and all have gone through.Sorry to hear about your troubles brother. seems like with everyone buying bit coins, possible hack, and rising prices things are getting crazy
natewhatever
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April 10, 2013, 08:17:34 AM
 #7

I'm listening to the The Daily BitCoin Show here: https://soundcloud.com/mindtomatter/the-daily-bitcoin-episode-2

The CEO of BitInstant is on there talking about the current slowdown and why, and what and all that. Check it!
BTCuser85
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April 10, 2013, 03:55:21 PM
 #8

I used bitinstant for the first time yesterday despite reading about the problems they've been having lately, and I got my coins before I even left the store! I wasn't expecting it to be so quick, and I think they're a good company just having some issues with all the new people getting into bitcoin lately.
TheBigYak
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April 10, 2013, 03:56:39 PM
 #9

I think they've got serious throughput problems right now, it's difficult for them to keep up with the rapidly moving prices.

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Splicer
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April 10, 2013, 11:17:33 PM
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Someone seriously needs to step up to the plate and make a faster way to get money into these exchanges.
I wanted to buy bitcoins at 80, took me 2 weeks to get verified with dwolla and mtgox, and today it's finally in but btc is now at 230, ugh.

Wow meeky, I can almost feel your pain, I bought at 80. So I had all that spending power.. that you didn't get Sad

Well I never had a problem with those guys, bitstamp seems to be great, what alternatives do you guys use?
darksideofjae
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April 10, 2013, 11:28:37 PM
 #11

I've used them in the past but will keep this in mind for future purchases
ninjaboon
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April 10, 2013, 11:31:54 PM
 #12

I didn't know bitinstant has so many issues. As for me, I use this 3 sites : bitfinex.com, fybsg.com and (TOREX) at https://36rt4evqyuwovhgl.tor2web.org/  - so far no issues.

bohanz
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April 11, 2013, 12:02:26 AM
 #13

The handful of times I've used Bitinstant the service was near instantaneous, but this was a while back. Have any of you tried Bitfloor or Bitcopia? I can vouch for the former
snakebit
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April 11, 2013, 02:09:03 AM
 #14

I personally haven't had any problems with bitinstant. Although, my first transaction it took about 6 hours to get my coins. After that, I got them rather quickly. You should contact them on their thread here.
itzzzAlice
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April 11, 2013, 03:23:11 AM
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Ironically, everytime someone mentions them on /r/bitcoin they actually respond pretty well and solve the matter pretty fast. Could try doing that if it hasn't worked well for you yet.
Duckie
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April 11, 2013, 03:50:41 AM
 #16

Has anyone else had this problem?
nightminer
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April 11, 2013, 08:19:27 AM
 #17

I also have lots of problems due to the country I live in. Been trying for a few months using different services. I resorted to mining.

I set up a "google alert" for any exchanges and this popped up 2 days ago

https://bips.me/

They cover a whole bunch of countries and have local bank accounts all over the place. I have not tried them yet because all my money went into my mining rig.

http://www.mybitalert.com/  -  Bitcoin Price change Alerts via Email, SMS, twitter and more.
mandelbert
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April 11, 2013, 09:46:03 AM
 #18

Ripple should solve this problem (https://ripple.com). They are still in beta though.
Betelquese
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April 21, 2013, 03:07:40 AM
 #19

.:!UPDATE!:.

Today, April 20th, 17 days after I initiated the transaction, the full total of my bitinstant.com order has been fulfilled. It took them quite a while, and communication was poor, but they eventually made good.

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cash4net
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April 21, 2013, 03:09:13 AM
 #20

Sucks. I am still trying to get my MTGOX Coupon into btc-e  Undecided

BitInstant sucks .. but so does MtGox. I like bitstamp
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