So today i really needed to make a purchase with bitcoin. Last week i changed my cell phone number. To be able to send bitcoins from coin base/login/do anything on their website i have to confirm a SMS they send. so when attempting to send bitcoins, i was unable to confirm the SMS obviously.
So i go to account settings to change my phone number, Unfortunately your not able to do so without confirming a SMS on a phone.... i no longer have. So i go through a long process of typing in my information and confirming my email. And they send me this email after:
We're reviewing your request to change your phone from (+1) xxx-xxx-xxxx to (+1) xxx-xxx-xxxx.
For security this process takes about 2 business days. Currently, there's about 97 hours remaining. We cannot speed up this process.
Long story short, there has to be a better option, if anyone knows another website i would appreciate it.
I get that they're trying to be more secure, but i don't store coins on coinbase anyways so that's not really a concern of mine. I just need somewhere better to buy them. Thanks.
Well, it's all about the balance between security and convenience. Different exchanges/wallets choose to implement different security measures, but ultimately, any trustworthy bitcoin business will not alter the process and compromise security.
LakeBTC implements a set of risk management and internal control processes to safeguard users' fund and personal data. From time to time our customer support got complaints asking, why do I have to confirm this, why do I have to wait for human approvals etc.
But people have to realize, all bitcoin transactions are final and irreversible. Once the money is sent, it's gone forever. You don't want to login to your account and find all your coins get sent to an unknown address and come to us: hey, it was not me! it was a hacker!! At the very minimum, email is NOT safe at all. Numerous bitcoin hacking incidents started from compromised email accounts.
Security, liquidity, and service are three things that make LakeBTC stand out of the crowd, and security is Number One. We do everything in our power to protect users' fund and sensitive data against theft and fraud. In addition to financial risk management and extra sms confirmations, we manually review each withdrawals for login history, trading activities, funding status, and pattern to minimize the loss caused by intruders. In the meantime, we also work hard to cut the average processing time to 30 minutes during business hours.
