Did I screw this purchase up at Coinbase?

[nymfan99]

I thought I transferred USD from my checking account to coinbase, but I think I bought at the peak and now I am going to be stuck with the price difference. Why would anyone want be exposed to BTC fluctuations while making a purchase.. makes no sense because I have no way of selling out of it with the BTC not in my wallet.

+3.2787154 BTC
+$4,040.00 USD

[Waterstpub87]

It is a ridiculous system. They should let you fund your account, and then buy. Not be forced to sit there for a week and get hit on the price difference.

[Kaabee]

It is a ridiculous system. They should let you fund your account, and then buy. Not be forced to sit there for a week and get hit on the price difference.

Two ways to do it. Fund into your Coinbase USD wallet if you have one or use their exchange GDAX and buy the coins once your USD arrives.

[nymfan99]

Yeah I am down ~700 USD right now. So pissed

[Waterstpub87]

Two ways to do it. Fund into your Coinbase USD wallet if you have one or use their exchange GDAX and buy the coins once your USD arrives.

How do I create a USD wallet? the mentioned it before, but I cannot find it in coinbase.

Ok, apparently to create a USD wallet. One needs to verify ones identity. Then you can fund to USD wallet, and then buy the coins.

[Jetsfan]

It is a ridiculous system. They should let you fund your account, and then buy. Not be forced to sit there for a week and get hit on the price difference.

That being said it works both ways. You could have profited and made $700 and sold once your BTC arrives. Making a one off purchase it may not be ideal, but if you were funding on a recurring basis in recent months you probably made a good bit of extra money.

If you don't see a USD wallet under your accounts section at Coinbase you may not have made enough buys or did enough KYC. Just email them and they'll let you know what to do to get one. You'd similarly fund the account and wait 5 days or so for the USD to arrive at which point you'd buy BTC at market rate.

[ace7550]

Yeah I am down ~700 USD right now. So pissed

Same exact shit happened to me. I bought almost a week ago when btc was at $1225. Last I checked it is a little under $1000 now. My btc is supposed to arrive tomorrow. So Lame!!!

[nymfan99]

yeah I must have messed this up. They just upped my instant credit card deposits to 1500.00 which makes it a bit better. I would have instant deposited however I wanted to get a large sum on. 1500 rolling is a bit better, 4% fee on instant is worth it for me. Also I have a credit card that will get me 1.5% back to real fee would be 2.5% which isnt that bad. Deposit through bank account is 1%. SO 1.5% difference.

Last time I make this mistake, price seems to be somewhat recovering. Hopefully it gets t over 1100 so I take a lesser hit. Also I deposited last Wednesday and the bitcoin still hasnt hit my account. Funds were withdrawn from my bank account today which was suppose to be the arrival date. The timing is really unacceptable.

[ace7550]

yeah I must have messed this up. They just upped my instant credit card deposits to 1500.00 which makes it a bit better. I would have instant deposited however I wanted to get a large sum on. 1500 rolling is a bit better, 4% fee on instant is worth it for me. Also I have a credit card that will get me 1.5% back to real fee would be 2.5% which isnt that bad. Deposit through bank account is 1%. SO 1.5% difference.

Last time I make this mistake, price seems to be somewhat recovering. Hopefully it gets t over 1100 so I take a lesser hit. Also I deposited last Wednesday and the bitcoin still hasnt hit my account. Funds were withdrawn from my bank account today which was suppose to be the arrival date. The timing is really unacceptable.

A couple weeks ago I deposited at coinbase and it took about 10 days. This time it's gonna take about 8 days. It's bullshit. It just doesn't take that long to wire money. I bought a piece of property recently and I had to wire a deposit for it. I sent the wire on a Monday and they had it next day. Plus you can't even use coinbase directly with sportsbooks cuz they will shut your account down. You have to go through some intermediary like blockchain or poloniex.
I'm pretty over coinbase at this point...

[dalodave88]

That being said it works both ways. You could have profited and made $700 and sold once your BTC arrives. Making a one off purchase it may not be ideal, but if you were funding on a recurring basis in recent months you probably made a good bit of extra money.

If you don't see a USD wallet under your accounts section at Coinbase you may not have made enough buys or did enough KYC. Just email them and they'll let you know what to do to get one. You'd similarly fund the account and wait 5 days or so for the USD to arrive at which point you'd buy BTC at market rate.

Good info Jetsfan. Additional question on USD wallet.
Under my Account, I have two wallets. USD wallet and “My” wallet. Once the US $ are available in my USD wallet, how do I transfer or buy Bitcoins from USD wallet to “My” wallet. Please advise. Thanks in advance

[downsouth]

Yeah, its bullshit they hold you. You are stuck with price drop. I miss circle. Was at least instant.