Setting Up Coinbase

[picholas]

I spoke to Coinbase. They said my wait time is unheard of and shouldn't be that long. They're gonna lift the restrictions after they investigate the issue. The guy said it would take 4 days max for them to get back to me.

Yeah, I've never heard of anyone waiting more than 10 days.

 

[TRT]

Yeah, I've never heard of anyone waiting more than 10 days.

I've got to check my email tonight and see if they emailed me in regards to it. I've already come up with a plan B just in case.

 

[God&Gainz]

You can download the app or use your PC, personally I am not a fan of using the phone app for that stuff, a lot easier to lose your phone then your PC.

Yes, you purchase on coinbase ---> send to blockchain ---> send to source. Some people bounce it to multiple wallets first for extra protection, or some people totally "wash" their coins by using applications that split up your payment into a bunch of little ones and then send it for a small fee.

But the whole thing that protects us from being scammed when we purchase BTC -- the public ledger -- is what is always traceable back to the wallet. However the address that you send from is what it can be traced back to, not so much you. I am over simplifying here for explanation purposes.

The reason it's a bad idea isn't so much LE but the fact that Coinbase can shut down your account if it feels you are sending to less than reputable wallets. Then you would have to go through the trouble of making a new account, linking your card/bank account, and verifying your ID all over again.

If you are going the route we suggested (using your bank account with the wait versus using a debit for instant + fee) then no it generally always takes 5 business days or so. That's why we recommend sending the money to cash versus buying the coins. Once you have the cash in your account you can buy the coins as needed and not worry about price manipulation.

Thanks alot bro, I feel pretty comfortable with the process now.

I will keep the thread updated once my coins come through.

 

[Necessary Evil]

What's your opinion on BTC ATMs? My gym, of all places, installed one and I'm thinking of using it. As far as I know, it has higher fees but instant transfer.

 

[Hugh J Sachs]

Just finally set up a casebase. Now I need 4 or 5 other wallets right? (got my first; Blockchain Wallet). Cause it cost money to move this bitshit around?

 

[Xragexx]

I set everything up and deposited into usd..process said it would take 2-3 days. Coinbase took the money out of my bank account 3 days ago but it says it’s still pending on my Coinbase account. Is this normal?

 

[NorthMich]

Yes

 

[Xragexx]

Yes

Thanks man I wasn’t sure because I’m total it’s been 6 days since I started the deposit. I’m computer illiterate with most stuff like this

 

[NorthMich]

I’m getting a debit card which works immediately. The wait sucks.

 

[Sven_Northman]

Just went through all of this. Without having done proper research I bought Bitcoin using my linked bank account. ACH transfer. I lost $60 in value waiting 6 business days (8 total) before it cleared and the hold was lifted.
Then I could use that Bitcoin to send to another wallet to pay for shit. Ill never do it that way again!
I then linked my debit card and I was able to buy/send BTC right away.
I'm curious about depositing money from my bank account to my cash account on coinbase. Do they put a hold on that transfer as well? Or is it instant? As it only allows me to use my bank account to deposit cash, not my debit card.

 

[Hugh J Sachs]

yEAH, THATS THE METHOD i TRIED. It was a 26 day hold, until I called and cried wtf. All told, still lost about a week and 20 bucks in value.

Plus it took me a week to figure this shit out, that which I could, plus more time and aggro doing transfer and whatnot. And I didn't even to that usb based OS whatever the fuck its called cause the directions sucked balls and I aint fluent in nerd-faggese.

Bitshit sucks. I'd rather get arrested

 

[tattscp35]

What's the trick to getting your debit card to get verified? Tried twice and won't get verified. Totally have funds on there

 

[Hugh J Sachs]

Didnt work for me either. I just did one of the other options, I think linking bank account. Took 26 days to clear.
Fucking shit was a pain in the ass all around. Back to WU

 

[DrinkFlintWater]

When did Coinbase require an ID to send and receive crypto? Been using them for over a year and now they ask for it?

 

[sinewave3]

When did Coinbase require an ID to send and receive crypto? Been using them for over a year and now they ask for it?

They require it in USA for bank deposits and maybe other stuff now too. Part of the federal KYC laws now.

 

[LastChance69]

Ok, so i just tranferred funds from bank account to USD wallet on coinbase. It says i have the funds in my wallet right after transferring. Is this true or is there some wait time till completely transferred. Will it notify me when its complete?

 

[Hugh J Sachs]

There's a wait time before you can use them or transfer to another wallet
At least there was for me.