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/biz/ - Business & Finance


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9202146 No.9202146 [Reply] [Original]

So I have a $15k instant purchase limit on my coinbase account. Apparently this is fairly common for verified users. What is stopping me from buying 100 ltc on a tor browser, transferring it off site, and saying "sorry wasn't me" when the funds don't clear. I'm ot actually planning on doing this, I'm just legitimately curious what is stopping me from doing this since that is the first thing I thought of. I've done plenty of large purchases and I was always able to transfer funds to a wallet or binance days before the funds left my bank account. How are they still in business?

>> No.9202226

>>9202146
That is strange, instant buys with card are always subtracted immediately from my account.

Also: this is the reason why coinbase first only allows you 350euros of instant buys, because on the first 1 or 2 purchases you will get away with it. If you already have 50 purchases on coinbase tho the bank will see that you are just scamming.

>> No.9202296

>>9202226
Sorry, I think my limit is due to adding a bank account. The funds take 3-5 days to clear.

>> No.9202330

I could be wrong but isnt instant purchases just being able to buy BTC/ETH with your USD immediately. You still have to wait for your funds to clear to withdraw.

>> No.9202358

>>9202330
You almost got em OP, you almost beat a billion dollar corporation.

>> No.9202367

>>9202330
No, I thought it would be that way because it makes sense. But I've done it several times for legitimate purchases.
>buy 5k worth of ltc
>immediately transfer to binance to buy shitcoin
>5k subtracted from my bank account 5 days later

>> No.9202494

>implying logging in from a tor node won't get your account blocked and banned

>> No.9202575
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9202575

Because they’ll ask you to refund the coins (or what you sold them for) because “sorry it wasn’t me” and when you don’t they’ll know it was you. That’s also considered stealing because coinbase owns the LTC or whatever because if you didn’t request the money transfer then you don’t own it and had no right to transfer it.

Are you really this dumb? Listen kid, spend another 10 years experiencing things then come back before splurging your shit thoughts on biz and wasting everyone’s time and energy.

>> No.9202651

>>9202575
how does coinbase own ltc? i thought they just offered it as an available purchase through them

>> No.9202657

>>9202575
I'm pretty sure being retarded is a legitimate excuse.
>lose phone
>no password on phone because retarded
>someone picks up phone
>they now have access to coinbase account and 2fa from phone number
That is completely within the realm of possibility since the purchase is instant so I wouldn't even get a message from the bank for days.

>> No.9202838

Well, I've been googling around a bit and I've come to the conclusion that there is no reason why they couldn't be scammed in this situation except that they're relying on people wanting to continue to use their services. Since the main way to increase the limit is buy having a good purchase history, most won't want to try to run away some crypto when it could jeopardize their access to being easily able to buy more in the future. Also, there's no nogs in crypto.

>> No.9203225

Tor wont make it anonymous if you are connecting to http

>> No.9203902
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9203902

>>9202146
>What is stopping me from buying 100 ltc

they will freeze your account when they notice dumbass.. and you loose it all.

>> No.9203938

>log on with a tor browser
OP you have no idea what you are doing technically, just stop before you get BTFO

>> No.9203948

>whats stopping me from just comitting fraud

lol