Coinbase: instant BTC, ETH, LTC buying with bank account

Coinbase enables instant BTC, ETH and LTC purchases with a US bank account
25 October 2017   535

One of the leading cryptocurrency exchanges, Coinbase, announces the ability for customers to instantly purchase digital currency using a US bank account. 

Previously, customers who purchased using a bank account had to wait several days before receiving their digital currency. Now, customers can buy up to $25,000 and receive access to their digital currency immediately.

Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. Instant purchases make it significantly easier and faster for customers to invest in the digital currency ecosystem. Reducing the time to receive digital currency has been a highly requested feature and we are pleased to provide this improved experience for our customers.

David Farmer
Director of Comms, Coinbase

In its turn, this is to be a welcome addition for consumers, many of whom desire to purchase Ether so they can participate in initial coin offerings (ICOs), but do not reallize that they need to plan ahead to make sure their coins are available at the start of the ICO.

As detailed by Coinbase, the instant bank purchases are live for “many customers in the US”. The company claims that it will continue to expand the availability of this feature during the coming months.

Coinbase Confirmed Multiple Charge Issue

Some users were charged for up to x17; Coinbase reports these charges "are in the process of being refunded"
16 February 2018   43

After numerous complaints from users of Reddit, the popular platform for buying Crypto-currency Coinbase confirmed the presence of a bug in the system, because of which the payment for the same purchases was written off several times, in some cases up to 17 times.

We can confirm that the unexpected charges are originating from our payment processing network, and are related to charges from previous purchases. To the best of our knowledge, these unexpected charges are not permanent and are in the process of being refunded. We are running joint investigations with all parties involved, and will provide updates as we receive them.
We are actively investigating some reports from our customers about unexpected credit or debit card charges appearing on their statements from previous Coinbase purchases.

Coinbase Team

This is what affecte users say:

So coinbase hacked?

i noticed double charges posts but 17x what the fuck....2x is a CB mistake, 17x is a hack...

only thing that makes sense... calling bank.. and making a CB ticket...

thepokernit on Reddit

The company does not specify exactly what the bug was caused, but reports that it is solving the problem, and asks users to report all the unplanned charges in the discussion at Reddit.