Last updated: 1 year ago
Buy bitcoins from Coinbase
RATE: 1% for buying bitcoins
LIMITS: 10BTC per day limit for new accounts, verified accounts are limited to 100BTC per day.
WAIT TIME: Instant for Verified members
"Coinbase’s popularity is not without good reason; its service allows users to buy Bitcoin straight from their bank accounts, paying only a 1% fee for the exchange – market spread included."
Buy bitcoins using a regular bank account
Coinbase just announced that you can purchase up to $100 USD worth of bitcoins using their online bitcoin service.
It's PayPal-easy and incredibly quick with all major banks if you don't mind sharing your password for a minute (you can change it afterwards if you're worried). If you don't want to share your bank username and password, there is an option for verification where Coinbase deposits two small amounts into your account and you verify them a couple days later.
Steps to buy bitcoins
Go to http://coinbase.com/
1. Link and verify a U.S. bank account
2. Buy or sell some bitcoin
3. The transaction completes in about 3 business days!
How long should customers expect to wait to get their coins?
What is the MAXIMUM time you need to deliver on an order?
"If a transaction appears high risk we may give the user an option to either cancel their order or wait 60 days for their bitcoins to arrive. This is rare, but we wanted to provide an option other than just canceling a user's order if their transaction appears high risk so this is the best option we've come up with so far." --Brian from Coinbase
Deposit back into your account
You can exchange bitcoins back to USD and deposit them into your account using Coinbase too.
You can reach Coinbase support at http://support.coinbase.com/ (there is also a phone number on that page).
"87% of wallet funds are stored offline"
Coinbase is keeping funds stored "offline". That means if you buy from them and store your funds in their wallet then 87% of your money is completely secure, limiting the risk with hosting your bitcoins with another person.
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