Hold on coinbase funds?

**5918mike** · 01-10-19, 04:23 PM

Originally posted by YellowCurious

I am still on my 17 day hold with coinbase with another week to go. In the meantime, over the last day the value of bitcoin went down 10%. Thus my initial purchase of bitcoins is worth at least $60 less now. I don't think it is fair to be on a hold of this long, especially when you are risking the value going way down. As of right now, a $500 purchase of bitcoins is worth $444. If I could have gotten immediate access with wait period, I would have been able to deposit close to the full amount. But as of now, I have already lost $60. And that was just in the last day. In another week, who knows what the value is. A 17 day hold is just not worth it or fair.

I switched to using cashapp for my bitcoin purchases but when I used coinbase, to avoid the swings you should transfer cash, wait, then buy the bitcoin directly so the bitcoin purchase isn't in the waiting period.

**YellowCurious** · 01-17-19, 04:20 PM

Finally received my bitcoins today. Got them on day 17 of my 17 day wait. Overall the value just went down a little over the 17 days. The slight value loss isn't the issue, it's the 17 day wait period. They had previously had a 14 day wait period in the past, but I usually got my bitcoins a few days before the 14 day wait period. But getting coins from coinbase will now make you wait the full 17 days. I will try other options next time as 17 days is too long.

**Optional** · 01-18-19, 02:26 AM

Originally posted by YellowCurious

Finally received my bitcoins today. Got them on day 17 of my 17 day wait. Overall the value just went down a little over the 17 days. The slight value loss isn't the issue, it's the 17 day wait period. They had previously had a 14 day wait period in the past, but I usually got my bitcoins a few days before the 14 day wait period. But getting coins from coinbase will now make you wait the full 17 days. I will try other options next time as 17 days is too long.

Thanks for updating the thread.

Coinbase is definitely not the place to buy bitcoin right now.

If it's a security precaution as they say, then hopefully they will find a better way to plug that hole soon.

**Roscoe_Word** · 01-19-19, 03:45 PM

Have been out of the loop for a while, and was wondering if I could ask a Cash App **** Debit Card question? I got the card in the mail. It says "activate your card (in the Cash App) by scanning here.

The Cash App doesn't have a scanning function that I can find? Did that mean scanning with I-Nigma would be OK? Does one have to add a bank before the scanning function becomes manifest?

I wasn't last in my class 40 years ago, but honest to God nothing comes easy for me. (lol)

**Roscoe_Word** · 01-19-19, 04:09 PM

Never mind fellas. I figured it out. Seek and ye shall find. Thanks.

**cornmeal** · 01-22-19, 09:21 AM

Just wanted to update time frames I am now getting with coinbase and coinbase pro via ACH.
Coinbase 6 day hold on any coins
(btc/eth etc)
Oddly enough if I transfer dollars to coinbase (not coinbase pro)It is available in 3 days to purchase and send out.

Coinbase pro deposit 6-9 days to clear....

Just a side note I did a transfer from coinbase to paypal, paypal temp suspended my account till I called in

**mrpapageorgio** · 01-22-19, 11:19 AM

Originally posted by cornmeal

Just wanted to update time frames I am now getting with coinbase and coinbase pro via ACH.
Coinbase 6 day hold on any coins
(btc/eth etc)
Oddly enough if I transfer dollars to coinbase (not coinbase pro)It is available in 3 days to purchase and send out.

Coinbase pro deposit 6-9 days to clear....

Just a side note I did a transfer from coinbase to paypal, paypal temp suspended my account till I called in

I have noticed if you're not in a rush to lock in the price and just want to have cash on hand to buy bitcoin to fund your book, just do an ACH deposit of USD into Coinbase, then buy the bitcoin after it clears. It seems much faster than doing a straight purchase via ACH (probably playing with your money for a few days hoping the price goes down and can buy it at a cheaper price).

**TheMoneyShot** · 01-22-19, 01:54 PM

Coinbase is such a sh#$ company

**Roscoe_Word** · 01-22-19, 04:27 PM

The unauthorized removal of money from my bank account by Coinbase still sticks in my craw. (think it was about a year ago). The explanation was that it was a double withdrawal error. Fair enough, but I had a bitch of a time getting that money put back. To this day, I think there's an SBR member who hasn't gotten his grand reimbursed.