Why is coinbase so slow?

[grampajack]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

[Alartonicus]

The fastest and most reliable ones are those wallets, the keys to which are only yours. Use Bitcoin Core, Electrum or something like that: https://bitcoin.org/en/choose-your-wallet
There are also multicurrency wallets like Exodus https://www.exodus.io/ and exchangers for fast operations https://coinmarketcap.com/currencies/bitcoin/#markets

[Bitfort]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

International fiat transfers takes time (and fees). That's one of the reasons why bitcoin was born.
I personally used coinbase once ( bought BTC with my creditcard so it was quick ... but at cost of enormous fee)

[odolvlobo]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

It takes a long time because it takes 3 -5 days to transfer money between banks in the U.S. using the ACH system, and Coinbase waits until it receives your money before it credits your bitcoins. 10 days seems unusually long, but it without any details it is hard to comment further.

The fastest method is face-to-face cash through localbitcoins.com or Mycelium's Local Trader, or buying from a Bitcoin ATM. These options are generally more expensive if they are available.

[allathere]

It takes time to buy because the transaction don't made directly and the Coinbase needs to check everything before completing the transaction. It takes time for bank transfers. Don't panic you never lost your money with Coinbase...

[grampajack]

It takes time to buy because the transaction don't made directly and the Coinbase needs to check everything before completing the transaction. It takes time for bank transfers. Don't panic you never lost your money with Coinbase...

You can lose your money? What happens to it?

[kahc]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

Damn 10 days? Which country are you sending from?
I use bank transfer(SEPA) on Coinbase, usually takes 2 days.
Kraken is the fastest for me, takes 1 day with SEPA, but their platform and services have been buggy and slow as shit the past months.

For lower amount it is recommend to use credit/debit card, otherwise your bank will eat up a big chunk of your transaction.

One more thing, don't make the same stupid mistake as I did the first time I used bank transfer.
Make sure to share the transfer charges/fees between sender and receiver when using bank transfer.

[grampajack]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

Damn 10 days? Which country are you sending from?
I use bank transfer(SEPA) on Coinbase, usually takes 2 days.
Kraken is the fastest for me, takes 1 day with SEPA, but their platform and services have been buggy and slow as shit the past months.

For lower amount it is recommend to use credit/debit card, otherwise your bank will eat up a big chunk of your transaction.

One more thing, don't make the same stupid mistake as I did the first time I used bank transfer.
Make sure to share the transfer charges/fees between sender and receiver when using bank transfer.

I'm in the USA.

[bright4mech]

Ex changer need to be verified and gave back to you with in 48hrs, true you're bank account.

[Ravenz]

that should be like that.. it takes long time to be verified and deposit bitcoin on coinbase..

[kahc]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

Damn 10 days? Which country are you sending from?
I use bank transfer(SEPA) on Coinbase, usually takes 2 days.
Kraken is the fastest for me, takes 1 day with SEPA, but their platform and services have been buggy and slow as shit the past months.

For lower amount it is recommend to use credit/debit card, otherwise your bank will eat up a big chunk of your transaction.

One more thing, don't make the same stupid mistake as I did the first time I used bank transfer.
Make sure to share the transfer charges/fees between sender and receiver when using bank transfer.

I'm in the USA.

I think I figured it out why it may take upto 10 days.
The ACH bank transfer system typically takes 3-5 business days.
Saturdays, Sundays and Federal holidays are not business days.
So if you placed the order yesterday/today, it will be processed Monday, and then we have Thanksgiving 23.11.2017, so you were just unlucky with the timing.

[grampajack]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

Damn 10 days? Which country are you sending from?
I use bank transfer(SEPA) on Coinbase, usually takes 2 days.
Kraken is the fastest for me, takes 1 day with SEPA, but their platform and services have been buggy and slow as shit the past months.

For lower amount it is recommend to use credit/debit card, otherwise your bank will eat up a big chunk of your transaction.

One more thing, don't make the same stupid mistake as I did the first time I used bank transfer.
Make sure to share the transfer charges/fees between sender and receiver when using bank transfer.

I'm in the USA.

I think I figured it out why it may take upto 10 days.
The ACH bank transfer system typically takes 3-5 business days.
Saturdays, Sundays and Federal holidays are not business days.
So if you placed the order yesterday/today, it will be processed Monday, and then we have Thanksgiving 23.11.2017, so you were just unlucky with the timing.

Makes perfect sense. Thanks.

[Butmayselche]

these days coinsbase update it’s coins system any way this is trusted exchange site so just wait and don’t worry if your account verified will get money

my frinend get same problem and every thing go good and contact support

[jrrigs]

So I finally got my bank account verified on Coinbase and bought my first bitcoin, and now it's telling me that it will take 10 days for the transaction to go through. Why so long, and is there a faster method?

versapaydebit or EFT usually takes 5-15 days to complete. Its really slow but its the most secure means of purchasing.

[bitcoinstress]

You can read by yourself there regulations for withdrawal or deposit.

[Varavu]

It takes very long time for transaction. There are so many verification steps. Sometimes it takes a day for transaction.

[deadthings]

Use Bitcoin Core which is the most famous one and the fastest for me. This wallet is for everyone, newbies and professionalists too.

[GorillaDental]

I found that Kraken was also really slow to set up...in fact, I don't think I ever finished and then just went on to Gemini, etc.

[bunch]

The long transfer time between countries is one of the things crypto currency will challenge. If banks are going to be an option at all, the transfer time needs to be ‘instant’

[LeGaulois]

Use Bitcoin Core which is the most famous one and the fastest for me. This wallet is for everyone, newbies and professionalists too.

I don't think you have ever read the OP. You are totally out of topic. The guy was telling about his Bitcoin pûrchase on Coinbase. What Bitcoin core has to do here? It's a Bitcoin client, you can't buy Bitcoin with it. I doubt you have ever used Bitcoin core once in your life. People like you are so boring.