CoinbaseReviews 841

I'd give them a rating of no stars if it were available. THIS COMPANY SUCKS! They collect your banking and your Credit Card information allow you to start your purchases then you get an email saying that the transactions was deemed high risk and thus it was canceled. When I asked for my confidential information to be deleted from their database they said to close my account. I hope these brainiacs recognize that they will be liable if anything happens to my bank account and my credit card information). Simply put they should not be allowed to operate. COINBASE SUCKS!

Best think smoking, wish I had some real money to invest in coinbase.com

They will urge you to setup and verify your account in order to avoid the lengthy five day wait for your transactions to complete, but even when it is verified you then have to wait another 24 days. All this time you are restricted as to how much you can buy on a given day. See message from Customer Support below. Bottom line, if you want to buy Bitcoin in a hurry, do not waste your time here.

" Tom, I see you have completed all the verification steps necessary for instant buy. Your current limit for instant buy is $100. This limit will increase in 24 days when your first successful purchase reaches its 30 day mark. Your limit will then increase to $1000 instant buy. Unfortunately, there is no way that we can expedite this process so I apologize for any inconvenience this may cause you. "

Coinbase must be totally overwhelmed. Queries to the "support" service don't even get assigned to an agent after weeks.

The problem that I am having, is that when using their service to email some bitcoin to someone, if the recipient does not wish to receive them or does not see the incoming email, then Coinbase is not returning the bitcoin to the originating account.

I had seen originally, in their support forums, that they would automatically return the bitcoin to originating account after 30 days, but it looks like they don't have the staff to manage their customers problems, and they don't have the staff to automate their operations properly.

I recommend that anyone who is considering Coinbase to wait until they have fixed their problems and search the net until current customers have their concerns answered. It is very dangerous, in the times of Bitcoin volatility, to use Coinbase until they are able to train an expanded staff.

I signed up in mid November and had my first transaction go through without a problem... but for over three weeks now I cannot get a transaction executed. At first it was a "High Risk" orders issue. - Oddly enough, they took the money from my checking account after cancelling my "High Risk" orders (they must have been a little short over there and needed me to float them a loan). I contacted them but never received a response. About a week later they redeposited the money into my checking account.

So after all that cleared up, I decided to try again... After waiting for 4 days for the order to execute, and then... IT WAS CANCELLED WITHOUT EXPLANATION! -WTF?

So, I have contacted them, again, to try to find out what the problem is but I don't expect to hear back. I now have the joy of waiting to see if they take the money out of my checking account, again!

All in all, it has been nearly a month since I created my account and I have had one small order execute and seven cancelled.

Coin base is a complete fraud

Well, it's not too hard to see how it works. I validate my bank account. I initiate transaction on my end, they buy bitcoins on their end and wait few days for my money to reach them. They tell you it has to take a week or longer and gives u specific date. Since bitcoin is so volatile, big changes can happen in a week.

IF bitcoin goes up, they cancel my transaction and say it is "high risk" and initiate a return of my money. IF bitcoin goes down they allow transaction to stay and they keep my money and give me the bitcoins.

It is common sense. Obviously they're not going to steal from every transaction, and they can pick and choose how much they make.

http://blog.coinbase.com/post/*******068/high-risk-transactions

This blog post here is vague and a lie. He cites that it is because ppl try to scam them with fake bank account #s and such. That is such a lie, because you can never scam someone with fake bank account # if the purchase isn't instant. Because transaction won't go thru, DUH. Same with fake credit card #s, it WONT GO THRU.

With the whole high risk transaction mechanism, coinbase can literally control exactly how much they can make off of the volatile market. I was one of the people that got hurt REALLY bad. Some people might even benefit from a canceled order. But the point is, coinbase CONTROLS everything.

I want coinbase to SHOW PROOF that they have been ripped off because people used fake bank account #s. THEY CAN'T. Because you can't get ripped off from a fake account #. You cannot get ripped off if the purchase is not instant.

With the high risk transaction mechanism, Coinbase is GUARANTEED to make money. In a market that is growing, all they have to do is have the system set to flag xx% of transactions, and they are GUARANTEED to make money off this. A LOT of money based on how many transactions they process.

COINBASE, if you are reading this. Please respond and defend your case (i know, your answer would probably be "we can't disclose, blah blah blah.)

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