[DwightShrute]

Originally posted on 11/02/2017:

I finally signed up for Coinbase account this weekend and tried to make purchase using my Chase credit card. Chase customer service told me they would not allow Coinbase purchase. Therefore, I set up my bank account info and verified it this morning. I made a $1,500 purchase of BTC using my bank and ACH payment. I bought the bitcoin at $6,175 but my transaction will not process for 3-5 days. If the price drops to say $5,500 later this week, will I receive my full $1,500 worth or will it be lowered due to the price drop? From what I read, my price is locked in at $6,175 but not sure what happens while the transaction is pending. I was hoping to use Credit Card so I could move it to Blockchain right away and then to Heritage.

Also, I have read that transfers to Blockchain can take several days. Is this because Blockchain has to wait for someone to "buy" my bitcoins before the money can transfer? I was under the impression that the transfers were automatic and would take place right away. I've read on SBR where transfers to Blockchain have been in "pending" status for days.

Any info regarding these two topics is greatly appreciated.

Coinbase is great and convenient for using c redit c ard for instant bitcoin purchases. Mostly for the modest bettor who does 100 or 200 at a time.

Think about Gemini. You have to do a one time registration which takes 3-4 days buy sending in a copy of government id and a utility bill with the address and phone number. That's it. 3# or 4 days later, you get an email saying you are done. The benefit is : instant bank account bitcoin purchases up to 500 a day / 15,000 per month. Benefit 2: wire. Choose wire instructions, take a pic with smartphone or print it out. Go to your bank and you can send up to 10,000 a day. If you get to the bank early, you will have the wire in the Gemini account by 2pm. Gemini will cover $20 of they wire fees as well.

I think I have that right with Gemini. If anyone knows different, please correct anything.