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Coinbase online payment system

Coinbase
https://coinbase.com/

Updated on October 11, 2012
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General Information

 

 

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Instant Payments

Payments arrive at the speed of an email (just a few seconds) and are confirmed within the hour. No more waiting three business days for checks.

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Low Transaction Fees

Coinbase charges just 0.5% when you buy or sell bitcoin via bank account transfer. After that all bitcoin-to-bitcoin transactions are free.

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Pay By Phone

Our website works great on modern smartphones (iPhone, Android, etc). Just visit coinbase.com from your mobile browser.

 

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Simple Transfers

Use your bank account to purchase bitcoins. Transactions are processed within two to three business days. (coming soon)

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Merchant Tools

Easily create "buy now" or donate buttons. We also offer full shopping cart integration. (coming soon)

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Widespread Adoption

About $2 million a day (USD) is already being transacted in bitcoin. It's quickly becoming an international currency.

Currencies

Bitcoin

Countries of use

USA

Users

private and business

Fees

0.5% when you buy or sell bitcoin via bank account transfer

Recent news

Posted on November 16, 2017
Bitcoin Segwit2x Update

There have been a number of developments with Bitcoin Segwit2x since our last update.

Coinbase is actively monitoring this situation and will make every attempt to allow customers to benefit from this fork if it results in a safe and functioning network. No action is required and all funds stored on Coinbase remain safe.

Last week, the Segwit2x development team announced they would no longer continue with the project. In addition, a significant portion of miners and other community leaders withdrew their support for the fork. However, despite these developments, a small number of miners may attempt to go forward with a fork.

We wanted to provide clarity about the potential outcomes of the fork and what Coinbase will do in each scenario.

To protect customer funds, Coinbase will disable Bitcoin sends and receives at 2 am Pacific Time on November 17th, and disable buys and sells an hour before the fork, which is currently predicted to occur between 6am to 8am Pacific Time on November 17th. All functionality will be re-enabled shortly afterwards.

Scenario 1: network is unusable

If support for the fork remains at current levels, or decreases, the Bitcoin2x network will be unusable. Coinbase will not support withdrawals or trading as it will not be possible to move these assets. Currently we believe this is the most likely scenario.

If the network gains support at a later date, we will enable Bitcoin2x withdrawals from the platform.

Scenario 2: network is usable

If transactions are being confirmed at a reasonable speed, and miner support is strong, we will allow Coinbase customers to withdraw Bitcoin2x. We will not immediately enable buys and sells as previously stated, but we may enable them at a later date.

We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. We have invested significant resources to make sure we can prepare for each scenario, and if there is a stable and functioning network we will give customers access to Bitcoin2x funds.

We continue to work on Bitcoin Cash and are on track for January 1, 2018.


Bitcoin Segwit2x Update was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on November 9, 2017
Coinbase IRS Update

Coinbase appeared in federal court today to continue the fight for our customers’ privacy rights. Nearly one year ago, the IRS initiated proceedings to obtain copies of essentially all our U.S. customers’ records for the three-year period 2013–2015. The government has never alleged any wrongdoing on the part of Coinbase. Coinbase has persistently opposed the government’s summons, not because we were looking to pick a fight, but because we felt it was important to stand up for our customers and the industry.

In fact, Coinbase has already earned a big win. The government initially sought private financial records of approximately 500,000 account holders. In response to Coinbase’s continuing fight, the IRS significantly reduced the scope of the summons to approximately 14,000 customers. Although this 97% reduction in impacted customers is a big win for our customers, the IRS still took Coinbase to court to obtain a sweeping set of customer records. Today we argued, even as narrowed, the summons is still unjustified and invasive to our customers.

We were proud to appear in court today, together with support from industry colleagues, to continue to fight against what we believe to be government overreach. In the future we hope to work with the IRS to establish a reasonable tax reporting method that makes sense for virtual currency service providers and consumers alike.

We expect to hear more in the coming days and will keep customers updated.


Coinbase IRS Update was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 31, 2017
An improved mobile experience

Dedicated asset pages and streamlined accounts

Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. To that end, over the last few weeks, we’ve begun rolling out an improved Coinbase mobile experience. Below are a few of the highlights -

Dedicated asset pages

Now, you can monitor the daily performance of each asset on your home page. And you can drill into each asset to view performance over varying time periods. In the future, we’ll be adding additional information to each of these pages, helping you better understand the assets and their performance.

Dedicated asset pages

Access all accounts from a single page

We’ve consistently heard from customers that navigating between accounts is difficult. Now you’re able to see balances for each asset together, and dive in from within ‘Accounts’ to take action.

All your accounts, in one place

Better navigation visibility

While our prior navigation kept the page simple by hiding all additional actions in the background, it also made it difficult to find important functionality like Price Alerts, Settings or Accounts. We hope this change makes it easier for you to take full advantage of Coinbase!

Thanks for all your input over the years — we’re excited to be rolling out many of the improvements you’ve asked for!

If you don’t have a Coinbase account, sign up for one here.


An improved mobile experience was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 24, 2017
Clarification on the upcoming Segwit2x Fork

In our prior blog post we indicated that at the time of the fork, the existing chain will be called Bitcoin and the Segwit2x fork will be called Bitcoin2x.

However, some customers asked us to clarify what will happen after the fork. We are going to call the chain with the most accumulated difficulty Bitcoin.

We will make a determination on this change, once we believe the forks are in a stable state. We may consider other factors such as market cap or community support to determine stability.

It’s important for us to keep a neutral position in any fork. We believe that letting the market decide is the best way to ensure that Bitcoin remains a fair and open platform.


Clarification on the upcoming Segwit2x Fork was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 23, 2017
Timeline and Support — Bitcoin Segwit2x and Bitcoin Gold

We wanted to give customers another update on two upcoming Bitcoin forks — Bitcoin Segwit2x and Bitcoin Gold. You can read more about what a digital currency fork is here.

We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange.

Bitcoin Segwit2x

The Bitcoin Segwit2x fork is projected to take place on November 16th and will temporarily result in two bitcoin blockchains. Following the fork, Coinbase will continue referring to the current bitcoin blockchain as Bitcoin (BTC) and the forked blockchain as Bitcoin2x (B2X).

Any customer with a BTC balance on Coinbase at the time of the fork will be credited with an equal amount of the B2X asset on the Bitcoin2x blockchain. No action is required — we will automatically credit your account. So, if you have 5 BTC stored on Coinbase before the fork; you will have 5 BTC and 5 B2X following the event.

For more information about Bitcoin2x please see our FAQ page.

Bitcoin2x Timeline

  • Approximately 24 hours pre-fork. Coinbase will temporarily disable all bitcoin buy, sells, sends and receives. ETH and LTC will not be impacted. You will still be able to see your Bitcoin balances and monitor the price. If you plan on moving BTC into your Coinbase account, we highly recommend that you do so at least 24 hours before the fork to ensure your transfers are confirmed.
  • Fork (block 494,784). Any Coinbase customer with a confirmed Bitcoin balance at this point will be credited an equal amount of Bitcoin2x.
  • Within 24 hours post fork. Coinbase customers will be able to buy and sell both Bitcoin and Bitcoin2x. When you visit Coinbase.com or open your Coinbase app, you will see your new Bitcoin2x balance (in Accounts).
  • Approximately 24–48 hours post fork. Once we have ensured that the blockchains are stable, Coinbase will re-enable Bitcoin and Bitcoin2x sends and receives. Please be careful when sending funds as certain wallets and bitcoin services may refer to the two blockchains differently.

Bitcoin Gold

The Bitcoin Gold fork is projected to take place on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it. At that point, your account will be credited with an amount of Bitcoin Gold equal to your Bitcoin (BTC) balance at the time of the fork.

You can read more about Bitcoin Gold at our FAQ page.

Over the coming weeks, we will keep you updated on this event through our blog, status page and twitter.


Timeline and Support — Bitcoin Segwit2x and Bitcoin Gold was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase

See all news of Coinbase

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