Bitcoin / ETH is crashing, and you've been poised to take advantage of a down market?
Well, if you're using Coinbase, you'll have a very difficult time.
Reason 1: They have been raising the price on BTC, while it's tanking.
Coinbase's rate to purchase BTC has been 9-15% higher consistenly than Bittrex all day.
Reason 2: It'll take forever for you to transfer your assets to another exchange to take advantage of a decent price.
I was able to purchase some ETH on Coinbase at a decent price, just as it was rising on Bittrex. Since it was not rising on Coinbase (see Reason 1), I transferred it to my Bittrex ETH wallet to do a quick sell and earn about 8-10% profit. Not shooting for the moon, just a reasonable way to make back some money lost.
Well, the transfer took ALMOST AN HOUR, and by the time the money ended up in my Bittrex wallet, of course, the opportunity had evaporated and I almost took a loss.
Smells rotten, guys. Get away from them as fast as you can.
EDIT: Addition:
Reason 3: Coinbase has a history of going down from technical difficulties during a huge sell-off.
Here is a link with more information: https://squawker.org/conspiracy/secret-scams-coinbase-bittrex-kraken/
