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April 11, 2013, 12:14:03 AM |
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When using the Coinbase 'Buy Bitcoin' page, it's important to check what is and isn't on the page before hitting the buy button.
If this note is present,
"Note! We've exceeded our normal buy limits for today. If you would still like to purchase you will receive the market price of bitcoin on (Day) (Month) (Date), (Year) at (Time) EDT after your funds have arrived"
and this note is checkboxed,
"I acknowledge that the amount of BTC I receive will vary based on future exchange rates."
It means they are either out of bitcoin or don't want to sell at the current price because it's too low. If you buy under these conditions, the amount of bitcoin you will receive will probably be based on the price at time of delivery.
I don't recommend buying from Coinbase under these conditions as you can't be sure you will receive the agreed bitcoin at the agreed price,
If neither of the notes are present and there is no checkbox by the second one, you are probably OK to buy. This usually only happens at odd hours like the wee hours of the night US time.
I recently went round with them on this as they cancelled an order I had placed low and was scheduled to be delivered when the price was in my favor. The robomail I received cited me as a "High Risk" and suggested the transaction might be "fraudulent". And this after I had a previous order that went OK. After much back-and-forth they finally shipped my bitcoin at the agreed price.
So if you made your buy when the notes weren't present, you are likely to receive you coin at the agreed price. Otherwise you might be getting less than expected, but who knows? With today's roller coaster you might make out OK.
BTW, I noticed a new wrinkle this afternoon. There is a third note now,
"Note! Due to delays across bitcoin exchanges, prices may be wider than normal."
whatever that means. Going to email support about it when I get a chance and will update here. Good Luck.
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