Coinbase

After years of supporting Coinbase, I must warn the public about the unethical behavior of the Bitcoin executives. They have unfortunately decided to go the wrong way. Rather than supporting privacy to the utmost possible extent, Coinbase has gone 180 degrees the wrong direction, now demanding to know where the money came from before releasing our very own money back to us. No phone number, and virtually zero communication. I can no longer support this company that has zero respect for the most basic fundamentals of digital currency, and zero respect for our money, our privacy and our property. Coinbase cannot be an important part of the future of Bitcoin.

I have been going back and forth with coinbase for the last 2 weeks trying to buy more BTC. They claimed my orders were being blocked by my bank, which I dealt with and resolved. Anyway last week two separate charges of 5k each were pulled from my bank account with zero BTC. So my bank wasn’t the one blocking the charges and Coinbase just decided to take my money.
I received an automated response that I should get a refund within 3 – 4 days. After dealing with the extremely unhelpful customer service guy Alex I was told today to check back in with him in 10 business days. What does that even mean? 10 business days from when? How can they just decide to hold on to $ 10,000 and leave me hanging? I am shocked a business can act this dishonest to a customer of several years. What can I do here? I can’t afford to just lose $ 10,000

How much has Coinbase defrauded you? Send the amount expressed in US Dollars to:
Let’s see the total and discover whether law enforcement is interested. DO NOT send personal information, just the actual dollar amount of your loss.
I lost USD $ 2,000 to them two weeks ago in a BTC purchase order they cancelled for no reason, then failed to refund the money they had withdrawn from my bank account.
Please post this contact email address and request to your Facebook and Twitter accounts.
on Twitter: @CoinbaseFraud

My experience with Coinbase over the past year plus as a customer has always been a positive experience. I buy my bitcoins — I get my bitcoins. It’s all very simple. Keep up the good work.

Submitted two requests on CB on July 28^th, and 29^th. My funds have not been deposited. I thought the process would take only 48-​hours via ACH which is how they handle their withdrawals, however this does not appear to be the case. The chat support on their website does not reply. They do not reply to emails. They’ve already made the deduction from my account on July 30^th, yet here I am nearly $ 1,300 less of what I had with no BTC’s to be found and a complete miss of the trend I anticipated. After reporting the issue and what was happening, their «Fraud Team» contacted me and said that if I tried to stop the payment what I would be doing would constitute as Fraud? Seriously? Hopefully I get my money back, will post update later.

A week for a transfer? No thanks. What do I even pay you for?
Now I’m stuck in limbo until they get back to me.
Seems like a money pit to me.

Unless you have to make international payments with bitcoin I would stay FAR away. If you do need to buy bitcoin, try to find another platform/​exchange to buy from besides Coinbase.
Here’s why:
1. During the bitcoin runup I placed a 10 btc order which per the transaction history in my account noted the transaction for almost a year after transaction was placed, however the transaction was never fulfilled by bitcoin. There was a ~7 day wait or so for the purchase of coins and it never went through. In essence I was robbed of about $ 2k usd give as the prices increased dramatically over that 7 day period or take and their customer service was so overwhelmed (i guess) with orders no one ever got back to me during that time to tell me why I was not granted those 10 coins at that price. I tried to contact support DAILY at the time, wasting hours on this. Now customer service’s explanation is «oh yeah, i didn’t work here then. We were really busy… we have more staff now». Huh!!! Suddenly now my transaction history does not show the order, but it did show for several months up to a year although it was never funded (and I was never charged). As if they are trying to hide that orders placed did not go through. Extremely shady and unethical.
2. Terrible customer service like today that I had with Seth. The reps are snide and argumentative and their customer service level is incredibly low. Simply asking why a 48 hour wait period is required to transfer from their vault his comment was «The vault is optional. You’re not required to use it if you don’t like it.» It doesn’t really like Coinbase doesn’t care about explaining why they have these policies and/​or about the needs of their customers.
Instead of answering direct questions or listening to their customers they provide you a link to all their basic policies (which wasn’t my other questions anyway).
Requiring 2 email approvals AND a phone approval seems sufficient. A 48 hour wait period is ridiculous. He could not explain why this was necessary and why 24 hour or anything less wouldn’t suffice.
Wouldn’t a company why cares AT LEAST PRETEND to care about their customers input???
Upon doing a quick internet search about customer service reps seems many others have had issues as well (shockingly it was also Seth I was trying to talk to today :()

I had a spotless record with them buying and selling bitcoins and then one day I get the following email. Apparently, if you dont store bitcoins on their wallet or vault, then they are incapable of «floating» bitcoins. Which means they’ve promised more than they have onhand (similar to a bank with dollars). I would always purchase coins and store to an offline wallet. These guys run a shoddy operation with a crappy customer service. Good luck finding a phone number to contact them.
They sent the following email after disabling my account… no good explanation given:
Unfortunately a manual review has determined that you are ineligible to
use the Coinbase platform to purchase Bitcoin. We’re sorry for any
inconvenience that this may cause.
Please keep in mind that you still have access to our hosted wallet
services including the Coinbase Vault.
Again I apologize for any inconvenience this has caused you.