Coinbase Requiring Credit Card as Backup Payment Method for Instant Purchases

Today we’re rolling out a change that will require a backup credit card to be added to your account before Instant purchases are enabled.  We’re excited about accepting credit cards at Coinbase because it will allow us to implement some pretty awesome things down the road, including higher Instant Buy limits.

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Right now credit cards can only be used as a backup payment method – they can’t be used to buy bitcoin directly.  To enable Instant Buy on your Coinbase account, add a backup credit card today!

Money2020 Conference Response to Bitcoin and Coinbase Overwhelming

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Coinbase attended one of the world’s largest payments conferences (Money2020) this week.  We participated in a panel hosted by Bloomberg.  The audience was asked “how many of you are thinking about integrating Bitcoin in to your business?”  Approximately 30% of hands in the room of a few hundred senior members of the payments industry went up – a surprisingly high portion, even to us.

The tone around Bitcoin was notably different than at other similar events 6 months prior.  Reactions from those in the traditional financial world have shifted away from “that seems a little far fetched and it’s safe to ignore for now” towards an undercurrent of acknowledgment that digital currency is the future, even if they don’t fully understand it in the present.

Coinbase was front and center at the entrance to greet everyone!

Android Security Vulnerability Renders App Generated Wallets Insecure

A particular component of android used to generate secure random numbers was found to contain a critical weakness. This weakness renders all Android wallets generated to date vulnerable to theft. Some popular Android apps include Bitcoin Wallet, Bitcoin Spinner, blockchain.info wallet, and Mycelium Wallet. Any Android applications where you don’t control the private keys are […]

Incompatible Chain Fork in 0.8.0

A specific bitcoin miner who was running version 0.8.0 created a large block at height 225,430 which was incompatible with earlier versions of Bitcoin. This resulted in a block chain fork. A temporary fix is in place where large mining pools running version 0.8.0 have been asked to switch to 0.7.x to create a single […]

Potential Security Vulnerability Found in Windows Bitcoin-Qt 0.5 – 0.6

There’s a possibility that the attacker would be able to issue remote code execution by crashing your Bitcoin-Qt process. If you are running a Windows version of Bitcoin-Qt 0.5 through 0.6, you’ll want to immediately shut it down and upgrade to 0.5.3.1 or 0.6rc4. Again, this only affects the listed versions of Bitcoin-Qt on Windows. […]