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Placed order and paid via Coinbase but transaction took too long

WC31

New Member
Apr 19, 2021
1
0
Los Angeles
I finally decided to place my order last week. When it came time to make the $100 payment, I chose to pay using bitcoin. I scanned the QR code and sent payment immediately. Unfortunately, Coinbase did not transact my payment since they "batch transactions for blockchain efficiency" so Tesla didn't actually receive payment until 3 hours later. Per Tesla's T&C's they require payment to be received within 30 minutes; otherwise, the order will be cancelled. My bitcoin payment eventually went through and was received by Tesla. I tried contacting Support but it's impossible to reach anyone. I used the chat feature only to be told to reach out to my local sales office. Once I did that, they told me that there was nothing they could do.

I know that this is not the place to gripe about $100 when it comes to purchasing a $50k+ vehicle, but for Tesla to cancel my order, with proof that they received my $100 with zero acknowledgement was quite disappointing. I hope this post serves as a warning to others potentially using Coinbase to pay for their order fee. Just stick with the credit card. If this is any indication of how customer service will be like during ownership, I think I'm going to pass on the whole Tesla experience.
 

danwilliams5

Member
Apr 7, 2021
26
18
Wyoming, MI
Tesla is only looking to maintain the pricing as best they can. The BTC/USD rate is constantly changing.
Another thing to note is that every exchange have different processes and rules. I intended to use BlockFi to pay, but they hold all withdrawals for 24 hours. I was like “WHAT?!?? It’s my BTC”. And they require you to upload your ID again!!! And do a 3D scan of your face for identity verification. It’s great for security, but doesn’t work for a transaction like we’re trying to do. I promptly (after the 24 hr wait of course) moved my balance to cold storage.

I used Cash App (Square) for my deposit and made final payment direct from my cold wallet. I received a confirmation email from Tesla in about a minute. Confirmed on the blockchain in about 10 min. About $20 in fees.

Overall, in my experience it’s better to transact directly from your cold storage for larger transactions.
 

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