Description
UpdateA hosted web-based E-Wallet used for sending, receiving and storing bitcoins. This is not to be confused with the data structure in the blockchain which is also named coinbase.
The service aims to be the easiest way to get started with Bitcoin. Its service is modeled to provide an experience familiar to those who are comfortable using PayPal.
Reviews
Write a reviewEvan Moore - March 27, 2015
I purchased Bitcoins back in January with no problem, and sold them on 3/18. It has now been 9 days since I made the sale, but I have still not received any deposits into my bank account. The in-product messaging states that the sale has been completed, and I no longer have any Bitcoins in my wallet. The question is, if I no longer have Bitcoins in my wallet, where is my money? I have written into Support multiple times, and am in the 'Supervisor queue'. I have been waiting days for an update. This type of experience does not instill confidence in the user base, and unfortunately this has been a terrible first experience with Coinbase, and will make me re-think my use of the platform moving forward.
Anon - March 11, 2015
Coinbase has worked perfectly for me. the only issue that I have had was getting my credit card verified, and that was due to my credit card company's incompetence. Easy to use and buy my coins with. I do not store any large amount with them, as i would rather control the private keys. I will be checking out their new vault, and the exchange once it is available in my state.
md42 - March 5, 2015
awful customer service. After doing every verification step i made a purchase. one week later after they completed the withdraw from my bank the order was canceled with no explanation. I asked for more information and was told i was "high risk" with no other information. I kept asking for them to elaborate and then I was band from buying on coinbase after trying another transaction. Slow and awful buying process with bad customer service. if you talk to someone with the chat function they will never have information either. just go to an exchange and don't use this expensive middle man.
coinbase_user - February 19, 2015
Coinbase recently banned me from buying btc with no explanation given. They said I was "high risk," yet was cooperative with follow-up requests (e.g., license identification), answered questions, then they just contacted me and said sorry, manual review says you're risk. Bye. Completely out of the blue. What a joke.
Travis - January 16, 2015
I buy bitcoins here, and well, yah they get the bitcoin to you as they promise, but there support is absolute shit.They have ignored countless emails, and ive waited a few weeks at points. There support chat that pops up occasionally on the website, they are not very responsive. If they don't want to answer a question, they leave without responding.
Kay - April 27, 2014
I use this for all my BTC to USD withdraws. Highly recommend!
JW - April 27, 2014
Great Site no issues.
Jim Bruer - April 24, 2014
Coibase is so cool. I buy all my coinz off the coinsbase
Rainbox - April 5, 2014
Coinbase may be great, if you are among the lucky ones whose transactions get approved by their automated security algorithm. I have now tried to buy bitcoins four times unsuccessfully through Coinbase, even though I have completed every possible account verification step and been in contact with customer support three times. Every time I am told that there's nothing they can do; that I am being blocked automatically. This has delayed my ability to acquire bitcoins by over three weeks. If you're new to Bitcoin, do yourself a favor and use bitquick.co or coln.mx and avoid this exchange, if you want to have any chance of receiving your coins within the next century.
eccentricforce - March 4, 2014
great features and great contests. I plan to join their bithack.
Ti - February 25, 2014
I've been using Coinbase since Feb 2013 and never had a single problem with them. They are the only company I feel comfortable sending new users to purchase their first Bitcoin. Their UX is extremely intuitive for anybody who has done online shopping or banking, so the intimidation factor associated with bitcoin drops tremendously. As a company, they represent one of the first "modern" bitcoin enterprises, recognizing that a truly free market requires transparency, great communication, and innovative products in order to survive.
Danny - February 17, 2014
Coinbase has been the only reliable source I have found to buy and sell BTC for USD online. They document clearly what the wait times are for various operations, and they deliver to those expectations. It would be great if the 4 day transaction wait times were shorter or the "instant buy" limit were higher, but I'd rather have a slow system that works reliably than a fast system that fails.Note that Coinbase is not a market: it is a vendor. Coinbase states the price at which they will buy or sell your BTC, and that's that. Their prices appear to be based on market rates of major exchanges (like bitstamp.net), with a small markup (ie, bitstamp.net's transaction fee is 0.5%, Coinbase's transaction fee is 1%).
In EBay terms, Coinbase provides only "buy now" prices, not price bidding.
vegoilbenz - February 12, 2014
I consider them to be safe and reliable and will continue to do business with them.Wait times:
(I) Time required for identity verification was reasonable given the desire for security.
(II) Wait time to receive bit coins was excessive: 6 calendar days (four business days). A domestic (USA) electronic transfer can be completed in 2 business days and 1 business day for some situations.
(III) Time required to transfer BTC (from coin base to another wallet) was no longer than 6 confirmations in the block chain.
Issue:
I am authorized to purchase a certain amount of BTCs 'instantly', but am unable to designate any transaction as 'instant'; i.e. the only option is to default to the '6 calendar day' option.
Areas of improvement:
They need to do two things to get five stars:
(i) Fix the instant buy issue, and
(ii) enable a limit choice for buy and sell transactions
General:
Apparently, to comply with regulations they are a 'payment processing centre' not a 'currency exchange.' I guess that their primary business model is to process payments from merchants who accept BTC and deliver USD to those merchants.
Anon - January 17, 2014
Coinbase has been one of the most pleasant buying experiences I've had. Connecting it to my bank account was simple and I feel secure with their two step verification process. My only concern is that it took a week to get the bitcoins. There are ways to expedite this process by confirming your identity, but even that takes a while.
