Bitcoin exchanges - Holy Christ
Discussion
I've seen some poor websites in my time but these things are utter s
t. The initial process of generating an account is very secure and understandably so but then it all starts to go wrong. Coinbase was my first choice and I've experienced the following on multiple browsers and multiple computers so its definitely their site.
1. I upload photos of the ID and it accepts them, then wants me to do it again and then not and depending on its mood. In the 10-15 times I've logged in today, it continues to ask me, sometimes, unless it doesn't.
2. When trying to buy, it will ask me to verify my payment method, even though there is no way to do it (credit card only). So I added a bank account and verified that but still get the request, sometimes.
3. I can click on the buy link and get told I can buy, other times not. Assuming anything loads, more often that not the page just sits there
4. Spelling mistakes and words missing from validation messages
5. If you mistype the 7 digit code when signing in, you then cannot use that code again, except the site doesn't tell you that, it will just keep telling you its wrong when its not.
In the end I gave up and moved to another exchange (CEX.IO). Again, a heap of st. Whilst verifying the card it wants the CCV. I enter it and keep getting a validation message that I need to enter it. The CCV is right. I give up with this one too.
I work with software for a living but if buying a selling crypto currencies stays like this, there is no chance they will hit mainstream use. Conversely, if anyone manages to make an exchange website that actually works, I suspect they will go far.
t. The initial process of generating an account is very secure and understandably so but then it all starts to go wrong. Coinbase was my first choice and I've experienced the following on multiple browsers and multiple computers so its definitely their site.1. I upload photos of the ID and it accepts them, then wants me to do it again and then not and depending on its mood. In the 10-15 times I've logged in today, it continues to ask me, sometimes, unless it doesn't.
2. When trying to buy, it will ask me to verify my payment method, even though there is no way to do it (credit card only). So I added a bank account and verified that but still get the request, sometimes.
3. I can click on the buy link and get told I can buy, other times not. Assuming anything loads, more often that not the page just sits there
4. Spelling mistakes and words missing from validation messages
5. If you mistype the 7 digit code when signing in, you then cannot use that code again, except the site doesn't tell you that, it will just keep telling you its wrong when its not.
In the end I gave up and moved to another exchange (CEX.IO). Again, a heap of s
t. Whilst verifying the card it wants the CCV. I enter it and keep getting a validation message that I need to enter it. The CCV is right. I give up with this one too.I work with software for a living but if buying a selling crypto currencies stays like this, there is no chance they will hit mainstream use. Conversely, if anyone manages to make an exchange website that actually works, I suspect they will go far.
I haven't seen a single, reliable exchange in years. Sure, you can sit and look at your bitcoins - but try transferring them into cash. Coinbase has gone tits up, so has Kraken as far as I can see - none of them have the money to pay out. Check Reddit and you'll find a host of "I can't get my FIAT back!" threads about every one of even the most (formerly) reliable exchanges.
its up, so has Kraken as far as I can see - none of them have the money to pay out. Check Reddit and you'll find a host of "I can't get my FIAT back!" threads about every one of even the most (formerly) reliable exchanges.Henrico said:
I find Kraken OK, a bit sluggish to reply but very helpful when they do.
Kraken I think on the whole have been pretty decent too. Always reply: courteous and helpful. Issues get closed eventually. Polo on the other hand - complete radio silence. They are all struggling with becoming a mass market operation.
pixelatedJH said:
I braved all the problems you had and persevered with Coinbase... Then I looked at how I get my money back out. You need to do a SEPA transfer (in euros) and are charged both for the privilege of the transfer and you get your bank's rubbish exchange rate.
Coinbase may as well be gone - a criend of mine has a few grand in there (about 5k I think), and they simply will not cash out. He's been trying for weeks!guindilias said:
none of them have the money to pay out. Check Reddit and you'll find a host of "I can't get my FIAT back!" threads about every one of even the most (formerly) reliable exchanges
Every one? I don't think so. They are all under the burden of much greater KYC / AML for both deposits and withdrawals. This is a good thing. Many complaining they can't get fiat back probably can't justify why they had it in the first place.Hmm. From Coinbase -
Improving Customer Support
Over the past few months, we’ve seen an unprecedented increase in the number of customers signing up to use Coinbase (4x since January 2017). As a result, our systems have been pushed to the limit. This has caused many customers to have a negative experience.
I’m writing today to apologize for the experience you’re having and tell you what we’re doing to improve the situation.
First, it’s worth acknowledging the gravity of the situation. Our goal with Coinbase is to build the product that is the most trusted and easiest to use in the space. It erodes trust when customers can’t get a timely response to customer support inquiries, or when there are delays in pay ins, pay outs, limit increase requests, or getting access to your account.
We’re storing customer funds, and I can understand how incredibly frustrating (and scary) it is when an issue arises and you can’t get a prompt response.
We haven’t done enough to keep up with the growth, and we’re taking steps now to correct it. I want to share with you specifically what we’re doing to improve the situation.
Near Term:
•We are doubling overall support capacity by spinning up an outsourced support facility by the end of June. This will allow us to rapidly add level 1 support agents during future surges.
•We’re hiring 10 new contractors for our in house team over the next 3 months.
•We’re adding new hires on the Trust team (part of the engineering org that helps deal with security questions).
•Hired a consultant (former VP Customer Success at larger company) to consult on scaling, and how to introduce phone support.
•Several account security improvements are rolling out, including improvements to our two factor authentication, and a new system to flag risky withdrawals.
Q3 Plan
•Goal will be < 6 hours first response time for everyone; < 2 hours in cases of large balances
•Goal of having first version of phone support introduced for high balance accounts, and/or security related questions by end of September
Q4 Plan
•Roll out phone support for a wider % of customer base (potentially a paid option, still TBD)
•Introduce additional account security options such as Yubikey support
We understand that trust has to be earned, not given, and that we haven’t done enough lately to earn that trust. Thank you for your support as we continue to scale.
Thank you!
Improving Customer Support
Over the past few months, we’ve seen an unprecedented increase in the number of customers signing up to use Coinbase (4x since January 2017). As a result, our systems have been pushed to the limit. This has caused many customers to have a negative experience.
I’m writing today to apologize for the experience you’re having and tell you what we’re doing to improve the situation.
First, it’s worth acknowledging the gravity of the situation. Our goal with Coinbase is to build the product that is the most trusted and easiest to use in the space. It erodes trust when customers can’t get a timely response to customer support inquiries, or when there are delays in pay ins, pay outs, limit increase requests, or getting access to your account.
We’re storing customer funds, and I can understand how incredibly frustrating (and scary) it is when an issue arises and you can’t get a prompt response.
We haven’t done enough to keep up with the growth, and we’re taking steps now to correct it. I want to share with you specifically what we’re doing to improve the situation.
Near Term:
•We are doubling overall support capacity by spinning up an outsourced support facility by the end of June. This will allow us to rapidly add level 1 support agents during future surges.
•We’re hiring 10 new contractors for our in house team over the next 3 months.
•We’re adding new hires on the Trust team (part of the engineering org that helps deal with security questions).
•Hired a consultant (former VP Customer Success at larger company) to consult on scaling, and how to introduce phone support.
•Several account security improvements are rolling out, including improvements to our two factor authentication, and a new system to flag risky withdrawals.
Q3 Plan
•Goal will be < 6 hours first response time for everyone; < 2 hours in cases of large balances
•Goal of having first version of phone support introduced for high balance accounts, and/or security related questions by end of September
Q4 Plan
•Roll out phone support for a wider % of customer base (potentially a paid option, still TBD)
•Introduce additional account security options such as Yubikey support
We understand that trust has to be earned, not given, and that we haven’t done enough lately to earn that trust. Thank you for your support as we continue to scale.
Thank you!
Supersam83 said:
Put my request through on Weds 7th June and funds deposited into my account on Thurs 8th June. So no problems for me so far.
Is 1700 euro the amount they will pay out, for some reason? Or have you just been fortunate? Fella I know can't get a penny out of them and customer support is non existent!bigweb said:
Hmm this is a worry for me as I have only started using Coinbase this week and put a fairly large amount of money through them.
Would it be better to switch this to another exchange?
The fella I know has been searching for a decent exchange - used to make a mint just buying and selling on his mobile phone (he's a gardener!) - but Coinbase won't pay him anything, so he has stopped trying until there are reports of somewhere reliable, ideally in the UK, where he can buy, sell, and extract the money to his bank account when he wants. Would it be better to switch this to another exchange?
So far, no luck - he knows a hell of a lot more about it than I do and has been doing virtual currencies for years, so I rely on him for info.
He used to use one in the Philippines, but they shut up shop and vanished - with his money. So he's a bit wary now!
You can always get your money out but people aren't prepared to stomach the exchange rates on offer from places like LBC. Add on a high network transaction fee to ensure you get in the next block and your money will transfer. Think of your network fee amount as cheque vs BACS vs CHAPS. High network fee = CHAPS. Default (low) network fee = like paying by cheque.
LBC don't seem too hot either - https://motherboard.vice.com/en_us/article/the-lar...
guindilias said:
LBC don't seem too hot either - https://motherboard.vice.com/en_us/article/the-lar...
I think you're talking about a different LBC! LBC in BTC talk is Local Bit Coins.
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