Bitcoin Forum

Some people think there are limits of buying bitcoin in Coinbase. Do you think so? What are the limits? Can you share with me. Thanks a lot.  :D

I am not from the country where I can buy bitcoin from coinbase but what I have read is the coinbase limited the user to buy bitcoin with the worth of $25000 before completing their identification process.

More info : https://www.coindesk.com/coinbase-enables-instant-trading-raises-daily-purchasing-limits

https://support.pro.coinbase.com/customer/en/portal/articles/2945311-limits

Most exchanges give you smaller limits before you finalized the verification <KYC> process, because they have to adhere to these regulations to prevent money laundering.

Some even have different tiers, so for every step, you get different limits. I have currently no restrictions, but my local exchange have all my sensitive information.  >:(

Coinbase a good and secure platform of buying and saving bitcoins safe but it's limit are restrict to a few countries i try to buy with credit card but i can't i hope in futur it will add more countries :)

Coinbase works well for me. It is just that there are weekly limits that cap the amount of Bitcoin I can buy. There is no way to add a bank account, the only way is to buy using credit/debit card and the limits is only $500 per week. This is a problem if I want to buy bigger amount.

I always prefer Localbitcoin.com to buy bitcoin because where we can find traders from all countries so no matter of what country we are from we can buy and sell bitcoins for fiat with automated escrows.

---

Read the last line again to get idea why he have no restriction.

There's my wallet at coinbase. I have kept some amount of btc there. But my problem is that in my country btc is banned, I can not completely ruin it. I can only send and receive, beyond that I can not do anything else. I hope that soon our government will understand the crypto's loneliness and give us the opportunity to use it.

maybe you can ask directly to support Coinbase, usually the market gives a limit because you haven't done KYC, a procedure that the majority of markets use

There is a limit of the amount you can buy. I think that this depends on the stage that your account is. I think that there are two levels, Level 1 and Level 2 where Level 1 regulates the amount of money you can deposit every month and Level 2 offers an unlimited amount of deposits that can be made through this account. (Correct me if I am mistaken as I am not 100% about it)

If you just search it in Google you will literally see this in the first result. If you are in USA you are lucky that your limits are as high as 25,000$ daily it can even be unlimited once the funds are in your Coinbase account. But if you are living in a different country expect that it will be much lower compared to what US base customers will get. It might be due to KYC/AML compliance which will vary from country to country so do not expect that all countries will have the same limit.

Is BTC completely banned in your country or is it consider illegal tender.

It depends on whether you are paying by card or cash transfers. Cards have a weekly limit for users passing basic kyc checks, but you can transfer funds into your coinbase account and buy more

what I am more concerned about is why do you think there should be a limit?

If you are talking about OP, to me it doens't sound as if he is making a statement regarding the need of KYC, he is just asking about what Coinbase is requiring specifically, in terms of limits related to KYC.

The official statement my governments is typically to avoid money laundering, terrorism, and whatnot, which I believe it's true, however a big part of the story is omitted: They also want to know how much BTC do you have, so in case they go bankrupt and need to bail out the banksters, they can demand your BTC to pay for their party. So as with everything in life, there's pros and cons.