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Author Topic: What do you guys think about Coinbase?  (Read 738 times)
internationalaw
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April 21, 2013, 06:08:41 PM
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I recently found them and they do direct deposits

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Tonko
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April 21, 2013, 06:59:36 PM
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I recently found them and they do direct deposits

Good: they are not scammers trying to steal your money (not yet, at least)
Bad: they are buggy, often in such blatant ways that make you wonder if you are a fool trusting your money to them in any form
Not so good but not so bad either: they seem to be just an interface between your bank account and Mt.Gox. Direct deposit is the only added value and you pay dearly for that.
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April 21, 2013, 07:07:14 PM
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I've been using them since November. As a broker, they are not subject to false order books like exchanges allow. If you place an order with NSF, you may risk credit rating or possibly legal repercussions. I think brokers like these will improve the legitimacy and image of Bitcoin.

Direct deposit is the only added value and you pay dearly for that.

In what way do you pay?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
internationalaw
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April 21, 2013, 07:26:08 PM
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Coinbase is 1% always and then a flat $0.15 bank fee. That's not terrible imo

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April 21, 2013, 08:48:46 PM
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I have been using Coinbase since november.  They have  silicon valley venture capital funding and seem to be intent on building a legitimate business.  However, they are a very small team and seem to be overwhelmed by the growth of Bitcoin over the last several months. As noted above, there are bugs and other problems, but they are well intentioned and will try to solve issues in a reasonable matter (although it might take several days). 

The big issues sees to be that they hit daily transaction limits and it can be frustrating if you want to time your purchase. 

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April 21, 2013, 09:00:52 PM
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Why pay more than bitcoins than you have to?

Do bitstamp or btc-e.
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