Silk Road forums

Discussion => Newbie discussion => Topic started by: 1conoclast on May 12, 2013, 03:26 pm

Title: Why I won't use Coinbase to purchase Bitcoins.
Post by: 1conoclast on May 12, 2013, 03:26 pm
In my opinion, I don't recommend using Coinbase to purchase Bitcoins because they are not an actual exchange.  They are a business that buys Bitcoins at a low price and then will only sell them when the price goes up enough for them to make a profit.   Because of this, you will never get the best deal possible when buying Bitcoins.  Many times when you attempt to purchase Bitcoins it says that they have reached their daily limit and cannot sell them to you.  This is because the  price hasn't gone up enough for them to make money.

In my experience, for U.S. customers, using a verified account at Dwolla, then transferring that money to Campbx is the most efficient way to buy Bitcoins.

In order to get a verified account at Dwolla you have to upload a copy of your D.L.  Verification only takes about 2 days.