Coinbase - *Positive* Feedback

[501]

I have been reading complaints from a couple of forum users about Coinbase lately, so I wanted to give my opinion as well. I have bought from Coinbase twice over the past few months, first a small amount (5 btc) and then a larger amount (40 btc). I verified my identity fully before placing both of the orders, and both of them went through successfully. I have also spoken to a couple of guys from their support team and they seemed to be quite helpful. So I just wanted to chime in and give a positive story about them, as I've noticed people generally only post about services when there is something negative to say.

I placed 2 more orders this week - one for 15 btc and one for 10 btc (both on the same day). The money has left my bank account and I am just waiting for Coinbase to credit the coins, which they've estimated will happen this upcoming Monday. I will update this thread with positive or negative feedback depending on whether these 2 recent transactions go through. My information is the same and my trade volume is not unusual compared to my previous orders, and the only thing different about these orders were that they were placed on days of higher volatility (I placed both orders when btc was about $560, and now it is listed at $720). If these trades are rejected, then we will know that they are surely acting in a dishonest manner, however if both trades are accepted then it is likely that they are in fact a legitimate company and other customers may actually just be tipping the risk-meter for some other reason.

Hopefully everything goes through successfully, and if so I will continue to use Coinbase and recommend it as I have been doing so far.

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[bronco1769]

I ordered 3 coins last Friday as my first ever purchase and was definitely worried they wouldn't arrive on their scheduled date due to all the complaints I had seen about "High risk" transactions once prices dramatically rise.

I received them as promised that very morning at the locked in price from last Friday with absolutely no problems. As I said in another forum, I don't think people talk as much about successful purchases as much as they do about failed ones, giving the appearance that they cancel every purchase whenever the price of bitcoin shoots up.

I hope your transaction goes through! I'm going to give the instant buy verification a try early next week once they get some more in stock

[soothaa]

My transactions with them have been smooth as well.

[redwraith]

I have had zero problems with coinbase, except one time they got out synch with the blockchain and an email to support was answered and problem solved in under 24 hours.  Once I verified a credit card to get the 'instant' feature turned on, things have been absolutely seamless.

[Ayakashi]

I too was worried about potentially getting the "suspicious activity" reason for cancelling a buy order.  I was especially worried because this was my first very large order and the price of Bitcoin had moved up nicely since I had placed the buy.

Bottom line: no issues at all.  No issues with my bank as well (USAA).  Coinbase delivered my coins exactly when they had promised. 

[Lonechaos]

I too have nothing but positive experience with Coinbase. Every single coin have been delivered so far, even during that huge spike

[csargent]

Have had positive experience with coinbase until recently, withdrew BTC to Fiat on Monday, was supposed to be in my account by Wed. Nothing. Noted that I had supposedly purchased more BTC on Wed (had not done such a thing!) - Then noted that this was supposedly an "adjusting entry" for my previous BTC sell. No idea what that means. Emailed support, 48 hours and no response. I sold the BTC I was "given" - not even sure that it's a valid sale and why I was given BTC at a random price on Wed when I sold at a specific price on Monday. I leave for Tokyo next week and no money in the bank account I was planning on using. Extremely unhappy and concerned.

[lysanderspooner]

I had the exact same experience as csargent this past week too. Cashed out BTC was expecting my money in my account on Wed and on Wed nothing was there. I also was not able to sign into my account either because the SMS verification wasn't working for some reason. I emailed them and they got back to me in about 5 hours and said the transfer took about 3-4 days. I could log into my account a few hours later during the day, and my money was in my account on Thursday. I just think their notification of when the money would arrive in the bank account is a bit inaccurate and it depends on the bank. They've never failed me as far as selling/buying, etc. I've never not had things go missing, so my overall experience them has been very good despite my recent worry.

[Sindelar1938]

Gonna keep an eye on this thread as it is key that I know who is compromised and who is not

Thanks for posting in such detail

It takes time and I appreciate it

[btc4ever]

yay for trusting your bitcoins to others.  Please don't whine on here when they go poof, or you have big delays, or whatever.

I'll just continue to buy locally with cash and safekeep my own, without giving up any privacy or control, thanks.

[RickyC]

Thumbs up for Coinbase. I only have Positive feedback for them.

However the verification process was a headache, hopefully theres an easier way in the future.

No problems whatsoever. I trust them completely with storing pocket-coins to send around and linking to bank account. I've purchased quite a few coins already and they all have arrived when they were suppose to arrive.

[troy112]

No problem at all. Uptill now don't know about future. But still great site . Would recommend.

[howtobuy]

Is coinbase acessible only to US cutomers?

[troy112]

Nope. I am indian and transacting!!

[csargent]

It's interesting to hear that lysanderspooner got a response from Coinbase in about 5 hours and withdrawal the next day. I cashed out different amounts of BTC on Monday and Wed, contacted them on Thurs. No response. No money. Hoping all credits to my bank account on Monday. Of course it's  right when I'm leaving for vacation that this would happen and I can't access my funds. Not happy 

[danieldaniel]

I've done well over 50 transactions with Coinbase; all of them have gone well.

[madpoet]

I've bought and sold several times now and know to always add an extra business day or two to their estimation to get my money back.  That said the instant buy option is outstanding for when I need some quick funds and they are certainly a crapload better than Mt. Gox to get fiat out of!

[tvbcof]

I've bought and sold several times now and know to always add an extra business day or two to their estimation to get my money back.  That said the instant buy option is outstanding for when I need some quick funds and they are certainly a crapload better than Mt. Gox to get fiat out of!

That's not saying much.  Mt. Gox has been sitting on my $5k international wire for more than a quarter now.

So far all of my experiences with Coinbase (all me selling) have been good.  I'll be sure and provide an update if that changes.

[dominicwin]

I've sold 200 bitcoin total with them, and didn't have an issue. This was also prior to all the posts about problems with buy orders.

[Wipeout2097]

I've bought and sold several times now and know to always add an extra business day or two to their estimation to get my money back.  That said the instant buy option is outstanding for when I need some quick funds and they are certainly a crapload better than Mt. Gox to get fiat out of!

No, you don't have problems getting fiat out of MtGox, you have problems getting USD out. I don't vouch for MtGox, but you're putting the blame on the wrong entity.