coinbase.com - price went down during purchase

[bitcoinrocks]

I made a small purchase on coinbase.com to test the waters.  The price went down during the 5-day transfer period and I was not given the option to back out of the purchase.  Is that normal?

[1715536249]

1715536249

[1715536249]

1715536249

[1715536249]

1715536249

[richard_dein]

I made a small purchase on coinbase.com to test the waters.  The price went down during the 5-day transfer period and I was not given the option to back out of the purchase.  Is that normal?

If they let you back out you'd be able to do some risk-less trading at their expense. That said, in a healthier system you should be able to spend the coins you paid for sooner than 5-days..

[Remember remember the 5th of November]

Pretty normal.

I mean, people who bought Bitcoins at 266 dollars are probably rolling on the floor(for bad reasons) now that the price is in double digits now, they couldn't back out.

[empoweoqwj]

what takes 5 days exactly?

[Pale Phoenix]

what takes 5 days exactly?

ACH transfer of funds from your linked bank account.

[bitcoinrocks]

Weird, several people in another thread told me I would be able to back out in that situation and that Coinbase would give themselves the option to back out if the price went up.

[CurbsideProphet]

Weird, several people in another thread told me I would be able to back out in that situation and that Coinbase would give themselves the option to back out if the price went up.

Those people are wrong.  Coinbase will honor the price whether it goes up or down from the time you lock in the purchase.

[bitcoinrocks]

Well that doesn't sound so bad.  So my price is locked in as soon as I make the purchase even if it skyrockets over the 5-day transfer period?  Can anyone else confirm this?

[MPOE-PR]

Well that doesn't sound so bad.  So my price is locked in as soon as I make the purchase even if it skyrockets over the 5-day transfer period?  Can anyone else confirm this?

No, it's only locked if it goes down. If price goes up your buy gets canceled, look through the dozens of threads/complaints of people back when BTC was going up.