Canceling Coinbase Transactions

[ArchonAlarion]

I purchased $100 worth of BTC on Coinbase yesterday. I will receive my BTC on the 15th, but I'm still not sure whether it will be at the market price of yesterday or the 15th.

With bitcoin crashing and all, and this being my first time purchasing them, I don't want to be screwed.

They say it is possible to cancel the transaction, but I cannot find the cancel page/option. I've clicked the highlighted pending button on the transaction history page, but it just brings me to the transaction details page and there is no cancel option. I've been looking everywhere for it. People are telling me it should be there, but it's not. I've emailed Coinbase, but who knows if they'll actually get back to me.

Am I being scammed? What am I missing?

Thanks.

[1714852654]

1714852654

[1714852654]

1714852654

[movellan]

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.

[ArchonAlarion]

Thank you.

The problem is that I honestly cannot remember if the notes were there or not when I actually made the purchase. See, it was giving me those messages, but for a while the purchase wouldn't go through and kept telling me to come back later. Finally I came back and made the purchase, but because I'm a noob I did not jot down (mentally) whether the note popped up again or whether there was no note when my purchase actually went through. So now I have a sinking feeling/recollection (not sure though) that the note wasn't there that specific time I went to try purchasing.

It says I'm getting 0.42 BTC for $100, but it also says "status: pending". Still can't find cancel button. Gah, I think I was screwed. Should there be a cancel button if I'm getting yesterday's market price even though it's still pending till the 15th?

Thanks.

[movellan]

If the notes were absent when you made the buy, that's good. In that case the price is locked in and unless Coinbase tries some trick you're probably OK. 0.42 BTC for $100 is above the current price so you might make out alright. There is no cancel button AFAIK. You'll have to wait till the 15th and hope for the best.

[syn999]

i do not you can cancel unless u talk to them. coinbase seem fine so far except some issue with the information security

[StrillO2]

If the notes were absent when you made the buy, that's good. In that case the price is locked in and unless Coinbase tries some trick you're probably OK. 0.42 BTC for $100 is above the current price so you might make out alright. There is no cancel button AFAIK. You'll have to wait till the 15th and hope for the best.

I am agree with you .It's right according to our point of view.