AlphaLife
Member
My instant purchase amount on Coinbase is $200. If the fluctuation is less than 66% in your hypothetical situation, I will not have to wait to buy the extra amount needed. That's a highly unlikely scenario.Not only does bitcoin's value tend to have major fluctuations the other issue is trying to figure out how much extra you need to buy to be covered. So if you are going to spend $300 worth of bitcoin on a product through coinbase which takes 3 to 5 days to buy the bitcoin and place it in your account do you buy $330 to make sure your covered on bitcoin value fluctuation $350?? Knowing that if you don't buy enough you will have to buy additional bitcoin and wait another 3 to 5 days to make your order.
If your transaction ends up costing $315 after bitcoin price fluctuation and you bought $350 do you then hold the extra $35 in bitcoin until the next time you want to purchase something with bitcoin when it could be worth $20 or $45.
The instant purchase of bitcoin seems like it is probably a better option but I have no idea what, if any, the security risks are with the various instant pay bitcoin services are.