I just bought bitcoin for the first time!

I now am the proud owner of $8.89 cents worth of BitCoin (0.005… something or other).

So, in the last episode of this crucial blogcast, I had an issue viewing the charges that CoinBase claimed they would charge to my bank account in my bank account summary. I had thought it was my browser (for reasons that do not include voided warranties).

It turns out that it was a problem with my bank!!! I tried a different exchange service called “Kraken” (I may have mentioned this before, but what do I know? It’s all in the past now). This Kraken service includes a “tier” system in which you get verified, and, based on the your level of verification, you are allowed to navigate the site in different ways.

FOR EXAMPLE: You sign up… great. Now you are able to transfer BitCoin you already own to and from your own accounts.

You submit your verified email address and phone number: Now you are able to deposit and withdraw BitCoin only.

You have your address verified: Now you are able to deposit different kinds of money and withdraw whatever stuff (I am angry about tier 3, because I thought tier 3 was all I needed — I submitted my address to these people).

Next tier you have to scan a government approved ID and your social security number!!! What?! You can only deposit cash money to the exchange site if they have your social security number? I said, “Bump that!”

I decided to take the delay in CoinBase’s charges more seriously after the other website asked for my government credentials. As I mentioned above, it turns out that my bank was blocking the charges because they appeared so suspect.

So, if you are trying to do what I did and get verified with an exchange site that charges your card before letting you use the site: please make sure your bank is aware the charges are coming. They, apparently, look very suspicious.


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