COINBASE screwed me out of $100 for slow processing.

[bajungadustin]

So coinbase account transfer totally screwed me out of 100 dollars this week. 

I had previously made my purchases from direct credit card purchases paying the 5% or whatever it is. 

Well recently i deposited 500 dollars back when XRP shot up to $0.30 on aug 24th. i was anticipating the fall and figured that the direct deposit from account method would be good because it was a smaller fee 1%? or 0? i cant remember atm. .

So assuming i waited the 3 business days to recieve my transaction and waiting until the first show of gain after the fall i would have purchased for .19 to .20 on the 28th

that would put my current gain off that one investment at almost exactly 100 dollars since the 28th. 

It is now Business Day 6 and counting and the price keeps going up and i STILL DONT HAVE MY DEPOSIT.

Moral of the story. Pay the 5% for the direct transaction. cause COINBASEs lackadaisical transfer process is complete garbage.

i mean it says 3 business days.. sure.. but most places that say that use that as a safety net because technology has become advanced enough that its almost instant. i can send 500 to my girlfriends account through facebook messenger and it literally takes less than 30 seconds until it has reached her bank account from mine. 30 seconds... vs 6 days... is a joke. 

 

Edited August 31, 2017 by bajungadustin

[AbeFroman]

I discovered this the hard way too buying bitcoin but I actually made money due to the lag. Every transfer I've done has taken around 7 days with them.

[Guest]

Why are you using coinbase? High fees, poor customer service and they don't even sell xrp...

[RJD]

Kraken, SEPA, 9hours, 0% fee

[bajungadustin]

11 minutes ago, Niall said:

Why are you using coinbase? High fees, poor customer service and they don't even sell xrp...

i had actually previously asked this question on some other mediums and i was recommended coinbase. What should i be using instead?

[bajungadustin]

3 minutes ago, RJD said:

Kraken, SEPA, 9hours, 0% fee

i tried to register for Kraken but i ran into a problem during registering.. it wanted me to verify the email but i never got it.. then i tried to reapply but it said my account now already existed. i tried several times. i have never heard of SEPA or 9Hours

[Guest]

27 minutes ago, bajungadustin said:

lackadaisical

UPVOTED for just using this word

[bajungadustin]

17 minutes ago, bajungadustin said:

i tried to register for Kraken but i ran into a problem during registering.. it wanted me to verify the email but i never got it.. then i tried to reapply but it said my account now already existed. i tried several times. i have never heard of SEPA or 9Hours

i actullay just tried again and it worked for whatever reason but it says Ripple can not be purchased from a tier 0 user... i didnt know i was a 0... but if the internets says so.. must be true. how do i level up?

 

edit... nevermind i found it. 

Edited August 31, 2017 by bajungadustin

[bajungadustin]

wrote coinbase an email.. reply says it can take several days for a reply LOL.. im just.. im done with coinbase.

[aye-epp]

This is a free world man, if was purely your choice to use coinbase.

Hopefully you'll look back at this in a few years and laugh hysterically

[AbeFroman]

Coinbase does tell you how long the transfers take and you can also see an ETA on when funds will arrive.

[enrique11]

I  love coinbase. It's the only one I use for BTC/USD. 

Yes, the fees are high, but if you're willing to do a little extra work the fees can be essentially wiped away.

[kuyu]

i tried to register for Kraken but i ran into a problem during registering.. it wanted me to verify the email but i never got it.. then i tried to reapply but it said my account now already existed. i tried several times. i have never heard of SEPA or 9Hours

Check your junk folder

[kuyu]

wrote coinbase an email.. reply says it can take several days for a reply LOL.. im just.. im done with coinbase.

If you are depositing direct. Then do it where you can buy XRP direct.

I cannot personally as there are capital controls with made up stupid rules at my bank. Bank policies that no one can explain coherently, but they enforce nonetheless... So I envy you [emoji14]

[bajungadustin]

1 hour ago, kuyu said:

If you are depositing direct. Then do it where you can buy XRP direct.

I cannot personally as there are capital controls with made up stupid rules at my bank. Bank policies that no one can explain coherently, but they enforce nonetheless... So I envy you

Yah.. Im fairly new to the process and honestly coinbase was one of the first places I was referred to and it is very polished and user friendly. It was also the first recommendation in a couple of tutorials and top sites. 

 

So an answer to your question is that I thought I was getting a decent deal