Just got my Coinbase card here in the UK. I don’t know why I got it to be honest, because now I’ve got it in my hand, it’s just dawn on me that I never want to use it. I can’t be buying a slice of pizza that ends up in a few years to be worth millions. But I still love what Coinbase is doing for crypto mass adoption.
Coinbase is a great exchange especially for newcomers to the world of crypto. The user interface is nice, clean and easy to understand which makes buying very easy. Their are a few bugs such as everytime you log in with the same computer. It says that it is a new device so you have to authorize it over and over again. I also had some problems setting up 2FA.
The fees on Coinbase may be high, the verification process is sometimes terrible and the customer service isn’t great either. But it does have its use case such as when you need to buy crypto with fiat very quickly.
If you are in the UK you will be happy to know that Coinbase has announced a Visa debit card that lets UK customers spend the cryptos in their wallets in their Coinbase account. The rest of the EU will get this feature in the coming months.
This is just another example of the great work Coinbase is doing.
I was foolish today to buy some Bitcoin from Coinbase. After buying I got a message saying that my withdrawal has been held for 72 hours because of verification purposes. What? I have already verified my account. I thought the whole purpose of crypto was fast transfers. Come on Coinbase GET YOUR ACT TOGETHER.
I have been using Coinbase for a while now and have been able to withdraw my Bitcoin without any problems, but yesterday I tried to withdraw my Bitcoin to my hardware wallet and I was told that for security reasons I have to wait 72 hours.
It says on my Account Dashboard that if I want to speed up the process I should upload my ID, but I have done this already so it makes no difference.
It seems to me that they do not have enough Bitcoin all the time so they buy themselves time by delaying withdrawals.