Trials and Tribulations on Coinbase
Is it just me...or is Coinbase getting annoying?
First, someone purchased an mp4 from me on December 12, 2017 at 5:03 PM (EST)
And this morning, 8 days later the order is still pending... now bear in mind that these purchases are instant access as it is all digital. And I do not mind trusting in this (up to a point), but 7 days is quite long enough. It may be time to switch out of Coinbase completely to another merchant platform like BitPay, ect.
If there was one I could find that could accept LTC, I would switch in a heartbeat.
If you know of one, please put it in a reply...
I have looked and not found one yet, so I stayed with Coinbase as I have over 80 items listed so far and changing them will require many hours. And because my Coinbase account also has an affiliate link,well I was reluctant tochange as I get about two signups a month. Now $20 in BTC is not a great deal, but "when you count pennies, the dollars take care of themselves" saying rings with me.
Next
And as you apporaoch a $20,000 threshold, the IRS gets your records and information from Coinbase.
Now I have a friend that is a CPA and is actually interviewing with the IRS for a position. He has been of course researching arduously to get an advantage in that interview process... and he told me just this past Saturday that only 800 accounts where filed... but that is still the open door and we all know the slow creep method of governmental agencies. Not that I do not hide anything, but I just do not like that this is all on Coinbase.
It is not even De-Centralized... so the downside is weighted more than the upside at this time. So working through other exchanges is a vital point in my companies long term goals.
Wait there's even more....
This morning I watched a Jsnip 4 video (below) or some nefarious doings on Coinbase:
He shows how Coinbase (supposedly opening trading forBCH in January 2018), jumped the shark and had BTC diving and BCH was pumping, But at a price 3 times most other exchanges. Is this a case of coincidental timing (serendipity) or well calculated actions (monkey business)?
Way past time to move on
I will keep the Coinbase account as I have too many links out there, but I will be switching to another merchant processor.
Any Suggestions?
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Image Credit: screenshot, btcmanager
My wife has been trying to get an account set up on Coinbase for two weeks now with no luck. So yes, we are getting somewhat frustrated with CB and perhaps it's time to move on. Let us know what you find @kyusho. We will do the same.
I looked into an atm (seriously), I am looking at putting Shapeshift on my site or BitPay... so many.
You can buy litecoins for fiat on these exchanges:
BTC-e
Bitfinex
Kraken
BitBargain UK
Bittlylicious UK
One of the guys up here is buying Bitcoin from an ATM in Mississauga ON Canada. I'm not sure how many more of these are around but certainly none in my neck of the woods. I'll have to look into Shapeshift as I have no idea what that is lol. Thanks for the info @kyusho.
You have an establishment, put an ATM in your own place!