Coinbase - JOKE of a company *RANT*

[thedreamer]

So I setup a coinbase account to buy some quick BTC so I can pay for some stuff I bought (on here).

I chatted with their support for a bit asking a lot of questions and they told me, multiple times, it takes 2-3 days for larger orders to clear into my wallet to use.
Got the email form them saying I was cleared for up to $10K

Setup Bank info, added credit card info for 'Instant purchase Power!!'. LOL

Made the purchase, expecting it to be done within 2-3 bus days.

Now turns out it has to be 4 or more, even though the funds have cleared my bank the second I placed the order and was withdrawn, and they now also have my credit card on file.

I confronted their 'support' 2 times and every time after I made it clear they not only gave out incorrect info, they confirmed there is NOTHING they can do, the BTC has to take it's course into my account, then I can sell it, of course with their profits...

Every time, their support person just outright stopped conversing with me after I stated the facts. No replies, just me typing away like a little monkey hitting the keyboard with nothing to show for it.

The 3rd time, finally someone at their support explained that until I've been with them for 30days and made multiple, or higher than $1000 purchases, my 'Instant Purchase Power' is a weekly.....$100!!!!.. ROFL.

Obviously nobody said a peep about this.

Let's just say, I won't be ever using them for anything, other than maybe wiping my butt with any sort of paperwork or ads they might send me now that they have all my info.

I will probably be also putting them on a blacklist with my accounts and credit card for no future use and charges ever.

Ughh... had to vent... This is the reason so many people are afraid to get into bit coins. It all seems like money laundering, shark lending and back alley fly-by-night operations expecting to be jumped by a Mobster wanting his cut .

Ok.. *Rant Off*.

[Possum577]

Sounds like they can't accommodate high value transactions, sounds like they're not yet ready for real banking!

That customer service experience sounds awful.

Any Coinbase people lurking around that can sort this out? Now would sure be  a good time for Coinbase to have a presence here.

[bitkilo]

Never tried to buy from Coinbase as they don't let us Aussies link bank accounts yet, happy i read this first, i won't signing up now ever.
I am with a similar company here called Coinjar and they are fantastic, great support team and easy to deal with.

Careful about trying to put them on some blacklist with your bank, depending what bank you are with, if you mention to them that you are doing business with Coinbase or any type of of company linked to bitcoin they will likely suspend your account, some banks have been know to do it.

[Ron~Popeil]

I won't use them either. They are quickly becoming the paypal of crypto currency. I understand the need to protect your business, but it is possible to do so while simultaneously providing great customer service.

[jlga]

I dont recommend that site for your high limitations, starting for my country, we can buy/sell btc in there and so like a normal user using a service i go to the chat to talk about my troubles and they just say: we are working hard to bring ours services to you country.
i dont know how hard its bring that, but they have been saying me that since 2013, near to 2 years now. The countrys of the first world have more benefits about btc in some facts, accesibility. And that is why i have coinbase blacklisted

[WaffleMaster]

Just by the way you're explaining the whole situation as a 13 year old kid would do, I'm guessing their customer support acted justly so. Don't know what to say about the limits though, that's odd. When I signed up my instant coinage was $1,000...instantly.

[thedreamer]

Please school me how I sound like a 13 year old?

Did you notice the *Rant*?

And btw I call BS on your Instant Coinage being $1000.. instantly. Going by their policies , and support personal's information, that is just.. impossible. Maybe you are misunderstanding the Limitations they put in place or were told incorrect info as was I.

Here is the excerpt from their site directly *Finally found by myself without their help at all.
---------------------------

How do Buy Limits work?

Mar 13, 2015  
This help article is for US-based customers. If you're located in Europe look here.

​Using various payment methods, there are a few ways to purchase bitcoin at Coinbase, and each method has a different limit depending on how complete your profile is.

Bitcoin buy orders or USD deposits from a US bank account have a $3,000 daily limit until you complete identity verification and wait 30 days after your first purchase, at which time your daily limit increases to $10,000. You also have an instant buy limit for purchasing bitcoin using your bank account.

Instant buys require adding a credit card for verification and are initially limited to $100 per week. After completing identity verification and waiting 30 days after your first purchase, your instant buy limit increases to $1000 per week. Depositing bitcoin to Coinbase Exchange or buying bitcoin using your USD wallet as a funding source is limited to a $10,000 daily limit. Buy orders from your Coinbase USD wallet are always instant.

---------------------------
Going by the date edited, I'm guessing the fact I made a stink about it made them put that there.

So... Nyah Nyah Nyah... There.. 13year old enough for you?  

[moni3z]

Their site is kind of annoying, front page is too much marketing and that info is sort of buried.
https://support.coinbase.com/customer/portal/articles/1412684-why-have-the-instant-buy-limits-changed-updated-1-27-2014

Plus they could easily inject whatever the limits you have to your screen in clear print on the deposit funds page before you actually pay (if  $accountLevel < 2 print"You can only deposit $100/wk see <link2limits faq>" size=gigantic).  

[thedreamer]

OMG, why would you use stupid service like Coinbase
You will have experience having decentralized currency in centralized system

I think you better try https://localbitcoins.com to buy bitcoin easily

Because localbitcoins lists overpriced sellers and possibly craigslist-type scams from what I heard.

No thank you. For now at least.

[Bejkn]

Sounds like they can't accommodate high value transactions, sounds like they're not yet ready for real banking!

That customer service experience sounds awful.

Any Coinbase people lurking around that can sort this out? Now would sure be  a good time for Coinbase to have a presence here.

not so.

it just that coinbase didn't want to take the risk bitcoin price and doing this on purpose    coinbase is alway like so.