Coinbase?

[Perspicacity]

Coinbase is probably the most reputable company that deals with BitCoin. Right now they are going through massive user growth, so they may be slow to help you in the case that their software acts erroneously. However, to the best of my knowledge, many people who have vocally complained loudly about some issue with them have gotten their issues resolved, albeit a bit slower than they would have liked.

"Coinbase is probably the most reputable company that deals with Bitcoin"...according to who?  Perhaps some would want us to believe that Coinbase is the only alternative out there, and perhaps there are employees of Coinbase who post here, but as I stated, these are facts.  Sorry, but the fact is, Coinbase sucks.

And, Coinbase supporter, would you care to explain to me why all attempts at communication over the past three g*d* days are ignored?  Yeah, that's so reputable...

Probably because they are dealing with the market frenzy which is going on right now. It sucks but you might want to contact your bank and let them know whats going on...

So they are busy, and that's an excuse for providing lousy service??  And, eh...where's my money, again???  Come on, man...

[Perspicacity]

Thanks for everyone's reply I will sign up tomorrow and let you know how it goes.

Don't say I didn't warn you.

[pungopete468]

Coinbase is probably the most reputable company that deals with BitCoin. Right now they are going through massive user growth, so they may be slow to help you in the case that their software acts erroneously. However, to the best of my knowledge, many people who have vocally complained loudly about some issue with them have gotten their issues resolved, albeit a bit slower than they would have liked.

"Coinbase is probably the most reputable company that deals with Bitcoin"...according to who?  Perhaps some would want us to believe that Coinbase is the only alternative out there, and perhaps there are employees of Coinbase who post here, but as I stated, these are facts.  Sorry, but the fact is, Coinbase sucks.

And, Coinbase supporter, would you care to explain to me why all attempts at communication over the past three g*d* days are ignored?  Yeah, that's so reputable...

Probably because they are dealing with the market frenzy which is going on right now. It sucks but you might want to contact your bank and let them know whats going on...

So they are busy, and that's an excuse for providing lousy service??  And, eh...where's my money, again???  Come on, man...

Nope. That's not the excuse for providing lousy service; just the excuse for why it might take three days or more to answer your emails... When has an excuse ever made anything better anyways?

This is a developing network and its subject to rapid changes and fluctuations that can overwhelm the establishments who link us to the global market. I don't think Coinbase intended to provide lousy service but I think they don't have adequate human resources to deal with all of the variables that are playing out right now. I think it's reasonable to suspect that problems might occur with something so new and as time goes on these issues will be addressed accordingly.

You have every right to be upset but if you take a pro-active approach and contact your bank you'll probably get your money back faster. Coinbase could be overwhelmed for a while.

If the intention of your post was to ascertain how reputable they are in order to make a decision about your next course of action; then my answer is that I have no reason to believe that they are anything less than reputable and I suspect they will refund your money as soon as they can get their feet back on the ground, so to speak. If your intention was only to get your money back as quickly as possible; call your bank.

[gemjr07]

I haven't had any problems yet with coinbase. Always better in my opinion to use multiple wallets with small amounts in each less likely to lose a lot if someone does hack one which eventually will happen to most.

[Perspicacity]

Coinbase is probably the most reputable company that deals with BitCoin. Right now they are going through massive user growth, so they may be slow to help you in the case that their software acts erroneously. However, to the best of my knowledge, many people who have vocally complained loudly about some issue with them have gotten their issues resolved, albeit a bit slower than they would have liked.

"Coinbase is probably the most reputable company that deals with Bitcoin"...according to who?  Perhaps some would want us to believe that Coinbase is the only alternative out there, and perhaps there are employees of Coinbase who post here, but as I stated, these are facts.  Sorry, but the fact is, Coinbase sucks.

And, Coinbase supporter, would you care to explain to me why all attempts at communication over the past three g*d* days are ignored?  Yeah, that's so reputable...

Probably because they are dealing with the market frenzy which is going on right now. It sucks but you might want to contact your bank and let them know whats going on...

So they are busy, and that's an excuse for providing lousy service??  And, eh...where's my money, again???  Come on, man...

Nope. That's not the excuse for providing lousy service; just the excuse for why it might take three days or more to answer your emails... When has an excuse ever made anything better anyways?

This is a developing network and its subject to rapid changes and fluctuations that can overwhelm the establishments who link us to the global market. I don't think Coinbase intended to provide lousy service but I think they don't have adequate human resources to deal with all of the variables that are playing out right now. I think it's reasonable to suspect that problems might occur with something so new and as time goes on these issues will be addressed accordingly.

You have every right to be upset but if you take a pro-active approach and contact your bank you'll probably get your money back faster. Coinbase could be overwhelmed for a while.

If the intention of your post was to ascertain how reputable they are in order to make a decision about your next course of action; then my answer is that I have no reason to believe that they are anything less than reputable and I suspect they will refund your money as soon as they can get their feet back on the ground, so to speak. If your intention was only to get your money back as quickly as possible; call your bank.

An update--I did finally get my money back after following your advice and dealing with my bank.  But of course, wouldn't you consider it quite ridiculous that Coinbase requires one to bring their bank into the equation just to get one's own money back?

Not one response to any e-mail I sent them, not one response to attempts made through their website, and not one response to any of the four cases I opened with Coinbase "support" (support, now that is the biggest joke ever).

So Pungo, what we have here is your conclusion (about Coinbase being reputable) being in direct conflict with the facts.  Coinbase is not reputable, and that is the fact.

Now, let's say I was insane and wanted to try another transaction with them...how would I do that, when they won't respond to me and I need to know if my next attempt to purchase bitcoins through Coinbase will meet with the same "high risk" transaction nonsense and that purchase attempt failing also?  Any Coinbase apologists want to opine on this?

[bitwager]

I don't think there's anything you can call these "high-risk" transaction cancellations anything other than blatantly dishonest business.  The company is getting an unfair advantage during 3-4 day swings in price where they can arbitrarily decide to cancel the ones that work out in the consumer's favor, while keeping every transaction that is "high-risk" to the consumer.  Yes, they are growing and seem like the most reputable source to buy BTC in the US, but to me, behavior like this says a lot and raises a major red flag.  I'd really like to see this issue get more exposure in order to correct this bad business practice.

It appears bitbook is doing something similar with odds changes.  It's really a shame to see some of these bitcoin businesses trying to unknowingly squeeze extra money out of their customers rather than simply taking what is theirs for the honestly great service that they provide.

[elbedog]

It's too bad that Coinbase is only for US

I registered and verified my account but then I noticed that the bank transfers are not supported for my country.

Should had read more attentively...

[dimka]

I'm starting to use coinbase too, it seems like a good company, something I can put my trust in, but life's a gamble. Some people say that their money was stolen and then are going to sue, while others say it's a good company. I would personally go for it, just like I'm doing right now. Best of luck to you.

[pungopete468]

Coinbase is probably the most reputable company that deals with BitCoin. Right now they are going through massive user growth, so they may be slow to help you in the case that their software acts erroneously. However, to the best of my knowledge, many people who have vocally complained loudly about some issue with them have gotten their issues resolved, albeit a bit slower than they would have liked.

"Coinbase is probably the most reputable company that deals with Bitcoin"...according to who?  Perhaps some would want us to believe that Coinbase is the only alternative out there, and perhaps there are employees of Coinbase who post here, but as I stated, these are facts.  Sorry, but the fact is, Coinbase sucks.

And, Coinbase supporter, would you care to explain to me why all attempts at communication over the past three g*d* days are ignored?  Yeah, that's so reputable...

Probably because they are dealing with the market frenzy which is going on right now. It sucks but you might want to contact your bank and let them know whats going on...

So they are busy, and that's an excuse for providing lousy service??  And, eh...where's my money, again???  Come on, man...

Nope. That's not the excuse for providing lousy service; just the excuse for why it might take three days or more to answer your emails... When has an excuse ever made anything better anyways?

This is a developing network and its subject to rapid changes and fluctuations that can overwhelm the establishments who link us to the global market. I don't think Coinbase intended to provide lousy service but I think they don't have adequate human resources to deal with all of the variables that are playing out right now. I think it's reasonable to suspect that problems might occur with something so new and as time goes on these issues will be addressed accordingly.

You have every right to be upset but if you take a pro-active approach and contact your bank you'll probably get your money back faster. Coinbase could be overwhelmed for a while.

If the intention of your post was to ascertain how reputable they are in order to make a decision about your next course of action; then my answer is that I have no reason to believe that they are anything less than reputable and I suspect they will refund your money as soon as they can get their feet back on the ground, so to speak. If your intention was only to get your money back as quickly as possible; call your bank.

An update--I did finally get my money back after following your advice and dealing with my bank.  But of course, wouldn't you consider it quite ridiculous that Coinbase requires one to bring their bank into the equation just to get one's own money back?

Not one response to any e-mail I sent them, not one response to attempts made through their website, and not one response to any of the four cases I opened with Coinbase "support" (support, now that is the biggest joke ever).

So Pungo, what we have here is your conclusion (about Coinbase being reputable) being in direct conflict with the facts.  Coinbase is not reputable, and that is the fact.

Now, let's say I was insane and wanted to try another transaction with them...how would I do that, when they won't respond to me and I need to know if my next attempt to purchase bitcoins through Coinbase will meet with the same "high risk" transaction nonsense and that purchase attempt failing also?  Any Coinbase apologists want to opine on this?

I'm glad to hear that you were able to recover your money; that's the most important thing.

I've been reading news articles about various banks which are not allowing transactions intended for the purchase of BitCoins. Some banks have been sending the account holder a "first and final warning" against purchasing BitCoin with the threat of account closure; others supposedly flag the outgoing transactions to known BitCoin exchanges preventing the money from reaching the intended destination.

I'm not sure what's going on in your particular case but it sounds like CoinBases' attempt to process a bank withdrawal may have been flagged as suspicious by your bank rendering the transaction incomplete or high risk. CoinBase may never have received the money in the first place.

I can't just look at a single piece of evidence as the only fact and pass a personal judgement; especially when I've never had any similar issues of my own regarding the company.

Personally, the only thing I dislike about CoinBase is the identity verification questionnaire. I've yet to successfully verify my identity due to reasons unknown.

[pungopete468]

I don't think there's anything you can call these "high-risk" transaction cancellations anything other than blatantly dishonest business.  The company is getting an unfair advantage during 3-4 day swings in price where they can arbitrarily decide to cancel the ones that work out in the consumer's favor, while keeping every transaction that is "high-risk" to the consumer.  Yes, they are growing and seem like the most reputable source to buy BTC in the US, but to me, behavior like this says a lot and raises a major red flag.  I'd really like to see this issue get more exposure in order to correct this bad business practice.

It appears bitbook is doing something similar with odds changes.  It's really a shame to see some of these bitcoin businesses trying to unknowingly squeeze extra money out of their customers rather than simply taking what is theirs for the honestly great service that they provide.

I really don't think this is the case... CoinBase uses an automated payment processor. If the withdrawal is approved, your coins have been purchased; if the withdrawal is flagged by your bank the funds will be held in a reserve account for an extended length of time before being released to CoinBase. It's not exactly like they just pick and choose who to allow to buy.

Chances are these "High-Risk" transactions are the result of the withdrawal being flagged as suspicious by your bank.

[Perspicacity]

I don't think there's anything you can call these "high-risk" transaction cancellations anything other than blatantly dishonest business.  The company is getting an unfair advantage during 3-4 day swings in price where they can arbitrarily decide to cancel the ones that work out in the consumer's favor, while keeping every transaction that is "high-risk" to the consumer.  Yes, they are growing and seem like the most reputable source to buy BTC in the US, but to me, behavior like this says a lot and raises a major red flag.  I'd really like to see this issue get more exposure in order to correct this bad business practice.

It appears bitbook is doing something similar with odds changes.  It's really a shame to see some of these bitcoin businesses trying to unknowingly squeeze extra money out of their customers rather than simply taking what is theirs for the honestly great service that they provide.

I really don't think this is the case... CoinBase uses an automated payment processor. If the withdrawal is approved, your coins have been purchased; if the withdrawal is flagged by your bank the funds will be held in a reserve account for an extended length of time before being released to CoinBase. It's not exactly like they just pick and choose who to allow to buy.

Chances are these "High-Risk" transactions are the result of the withdrawal being flagged as suspicious by your bank.

I'd agree with pungo on this one, bit wager, as in my case, I purchased Bitcoin at about $905 and, at the time of the transaction cancellation, it was down to about $750, but I received a full refund.  So in my case it worked out to my advantage that the transaction was cancelled, but of course, my intention was not to try to make a quick tiny profit but to purchase some bitcoin...;o)

[PeNGuiNBoy17]

I really enjoy coinbase's services. I have purchased over 50 BTC so far without a problem. I like their new instant coin service which helps me beat the ups and downs.