If I buy bitcoins now but it takes 10 days to be approved/settle, what price wil... | Hacker News

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reaclmbs on March 6, 2013 | parent | context | favorite | on: The Coinbase Android App Has Launched

If I buy bitcoins now but it takes 10 days to be approved/settle, what price will I be locked into?

ok_craig on March 7, 2013 [–]

If you purchase at $30/bitcoin, and by the time the bank transaction goes through the price has risen to $32/bitcoin, you still get them for $30.

Similarly, if the price drops to $28, you still pay $30/bitcoin.

So you're locked in at the exchange rate at the time you place the order.

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