Don't buy Bitcoin on Bitcoin.com, bait and switch tactics.

I should have known not to trust a creation of Roger Ver, but I was considering buying BTC from Bitcoin.com while I waited for my Kraken buy to go ahead.Usually I wouldn't complain about this, but Bitcoin.com is in the top few search results for "buy bitcoin", so I feel like it needs to be said.Essentially what they're doing is a typical bait and switch. Bitcoin.com presents one price to lure you in, and then changes it at the last second, after you complete KYC verification.Here's an example.1000 USD is presented to purchase 0.08477 (this was taken last week).That is market rate, so no problem. Let's buy it.I complete KYC, make an account, and I'm excited to buy Bitcoin at a fair price. But, then the switch happens.See here.The deal went from $1000 = 0.08477 BTC, to $1000 = 0.08109 BTC. In this timeframe, there was no price swing to account for the change.In addition, they're charging a further $75 processing fee.I can live with processing fees, but the Bitcoin price bait and switch is seriously not on, IMO.What they've done in this example, is presented an offer of an initial Bitcoin price set at $11,797, and then changed the effective price to $12,332, before they add a further $75 fee.An almost $500 extra, hidden fee is seriously not OK, and should be pointed out. We really don't want new users (or seasoned ones) to have this experience as one of their first in the Bitcoin space.Needless to say, I went back to Kraken.

Submitted November 01, 2020 at 03:27PM

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