Quote:
Originally Posted by WhatisROI
So I did a small deposit via coinbase on the 7th and have yet to receive my funds even though they have been removed from my checking account. I contacted their support team twice with no response. Is this standard amount of time?! It took two days for them to process my payout however so that I am happy about. I guess I would much prefer it this way I just am curious about my funds deposited.
What day did they tell you the bitcoin would be released?
When you buy bitcoin on Coinbase with a bank account you have to wait around 3-5 business days before the ACH clears for them to release your bitcoin.
The exchange rate is locked in at the time you purchase. For example: you buy 1 bitcoin at $700 on Monday. On Friday they will give you 1 bitcoin no matter what the value is at that time.
For people wanting to deposit to poker sites I would suggest instead that you should deposit money in to your "USD wallet" on Coinbase.
It still takes a few days for the ACH to show up, but when it does it credits you with the dollar amount in your Coinbase account. From there you can use it to purchase bitcoin and they will release it to you instantly.
It ends up taking the same amount of time overall but doing it this way will only expose you to the exchange rate for minutes instead of days.
And if you plan ahead and keep some money in your USD wallet you'll be able to purchase instantly and make poker deposits on demand.