Bitcoin Forum

I am new to forums so I really don't know which board this type of post needs to go in so please forgive me if this is in the wrong place. I have also only been involved with cryptocurrency for the last 10 months.

I have an account with Coinbase and until recently I have had no problems or issues with depositing or withdrawing USD to or from my bank account to or from my Coinbase USD wallet. But now I have been restricted for some reason and Coinbase will not tell me why so that I can fix the issue. Coinbase support will not help me so that's why I am turning to a forum to see if there is anything that I can do to buy bitcoin. I have also tried to do the same with other cryptocurrency companies but they also have restricted me from transferring money from my bank account to any wallet so, therefore, I cannot buy bitcoin. I also don't want to use P2P sites to buy bitcoin because I have had friends that have been robbed even from people with 100% ratings and high volume. I don't know where to go or what to do to buy bitcoin. Any suggestions anyone?

Ignoring the coinbase stuation it seems that the problem might be your bank or your location, so if you're willing to let us know from where you are or in which country you currently reside that would help people trying to help you out.

Other that than, since you have problems with all exchanges you've trying and you don't want to go p2p there is little left, just ATMSs but those charges quite a fee and I'm not sure there are any around you. Are you sure you don't have any trusted with huge volume and no negatives trader on localbitcoins in your country? I feel that's a bit close to impossible...

Im new also but I think you should be able to get the where the issue is with the kind of feedback you are getting when making the transaction. So, with Respect to the first response, some banks will restrict you from making transaction when you make too frequent transactions most especially from different devices or different Ip addresses or locations. This happens mostly in the US . So, you will need to visit your bank to  reconfirm yourself if that's the issue. You may get feedback like " your bank restrict or do not support this Kind of transaction".
So, you can check the feedback you get and see if its from bank or exchanges.

This sounds like an issue with your bank. They are probably placing those restrictions. Have you tried contacting your bank? If it was coinbase or the other crypto currencies company, they would have been able to help you easily.
Why would someone with 100% rating scam? Were those legit ratings or bots?

You have been restricted by your bank directly to make any form of purchase from these sites. Coinbase would not divulge any information because they might not know what really is the problem as they wouldn't know on their end if they are even being sent some money on their way from your bank. Only way to go around this is through a bitcoin ATM but you have to pay the premium or search for a dealer near you, really.

Let me ask if your bank account information is matched to your Coinbase account information like name?

Because I heard someone restricted after many successfully deposit/withdrawal and the issue is the name and other information are different from the bank account and Coinbasse account.

If this is your issue you must remove your bank account from your Coinbase account and change your information from Coinbase account before you connect the bank account again.

Alternative if you have Debit/Credit card you can try to buy on Abra if you are in hurry from here https://www.abra.com/buybitcoin/simplex/

So you have a problem about deposits ...? there is another way to make a deposit that is through transfer from another wallet, maybe you have an acquaintance friend who has a lot of Crypto? he might be able to help. Coinbase provides several ways to ask. for me the best thing is the interactive telephone. https://support.coinbase.com/customer/portal/articles/2288496

Correct.
I think his problem is that he added a new bank account "because Coinbase account was working" to his old account and therefore did not match the name on the account with Coinbase nickname.
Generally, if the solution suggested by @BitMaxz does not work, do not despair of reaching out to support team because they are the only ones who can solve your problem.


As for the best alternative to Coinbase, use Google "Buy Bitcoin <your country>" and then you can ask here to review the platform.

With the bitcoins that you bought, where did you send them exactly? And if you made any BTC deposits where did the deposits come from.

Only issue here I can think of is that you did some transaction which got your account flagged. In the past if you used bitcoin mixers to hid the true origins of the bitcoins then Coinbase was known to freeze those accounts due to liability reasons.

Another issue can be maybe your account had some hacking attempt and they just froze it to prevent any funds from being stolen. Only thing you can do is wait for Coinbase to reply. Its a weekend so you will need to wait until Monday or Tuesday.

From what I am reading above, I can tell you that the problem is with your bank and not with any crypto company. When your bank is restricting you from transferring money to any crypto related company, it's clearly your bank. Answer the below questions so that we can help you in a better way,

1. Your country?
2. Are you able to transfer funds to your friend's checking account?
3. Have you tried contacting your bank's support team? What they have to say?
4. Apart from Coinbase, what other crypto companies you have tried to transfer funds?

If you are transferring a very high volume, it is possible that your activities have been reported to the AML committee of the bank and they have restricted your access. Or if USD is not your native currency, then you will have a transaction limit under your local foreign exchange law.
 

@OP I hope you will  follow all the good suggestions made by all the thoughtful forum members to rectify your problem, like what has already said above the first thing to do is contact your bank because if this was to be location related coinbase will tell you your location not supported yet, so am guessing your bank has restricted you from making this transfer, contact them for more clarification.

^ These are the right stuff that we should know before we are helping OP and I think he's not being serious of what he ask because OP did not online after this thread posted. Maybe your country has been prohibited bitcoin or any other related to crypto currencies so that you can't buy bitcoin because in other countries there is no problem with buying it. That is the reason I know why you can't buy bitcoin. Nevertheless, We can help if we will know where is your exact location. Or you can purchase Bitcoin by searching google in your Local exchange that has connected with the bank.

His account was registered the same day he created this thread but I believed there's something he's not telling us about the whole situation cause he might have broken one of the exchange rule and regulation. However, the last time I checked coinbase is one of the top crypto exchange sites and they have the support that is ready to respond to every customer claim.

since OP created this thread he has not made any posts anymore. This means that either he had his problem solved or he simply gave up trying to solve his problem. Maybe he may have realized what his problem is, questions that only he can answer us



I can't understand how this is possible since you used coinbase before and everything went very well. But I can think of your country becoming a country on the restricted country list, or the bank of your country that you are using is some bank that has forbidden them to handle cryptos

Hello everyone,

Thank you so much for all of your replies. I will definitely be checking out all of your recommendations.
In response to the posted questions:

1. Your country? USA, State: Tennessee
2. Are you able to transfer funds to your friend's checking account? Yes
3. Have you tried contacting your bank's support team? What they have to say? I will call my bank today to see if they were the ones that actually restricted me.
4. Apart from Coinbase, what other crypto companies you have tried to transfer funds? The other company that I received a restricted notice from was Abra.

I'm also wondering if my restricted accounts with Coinbase and Abra were due to me sending BTC to a couple of BTC miners. (I will never do that again because I lost all of my money. Lesson learned the hard way. I guess that's part of being a beginner in cryptocurrency.)

Again, thank all of you for your kind help. I will follow up with my bank to see if it was restricted by them.

Brian

From the statement on the Op, it isn't clear to find which side the problem exists. User is from USA, which confirms that there is not much of restrictions from the banking network. From an exchange support view, surely they'll hear your words as they will not intend to loss even a single user. I believe you get the right help from the support team soon.

Hmm could it be those "miners" Bitcoin addresses are in a blacklist somewhere? Perhaps if they were/are part of a scamming operation? And why would the other site also restrict your account? Something doesn't match here...

I do know from others that Coinbase can take a lot of time on new accounts, verifying your data etc. It should be them who explain you what the problem is...

Hello Artemis3,

I was wondering the same thing about the miner's bitcoin addresses being on a blacklist that caused me to be restricted by Coinbase. My bank has not restricted me from buying cryptocurrency.  I asked Coinbase but they refused to tell me what the issue was with my account. Here is the email reply that Coinbase sent me when I inquired about being restricted.

Coinbase Support <help@coinbase.com>

Hello there,

Thanks for contacting Coinbase.

Coinbase reviewed your account and has determined that you are not eligible to use the Coinbase platform to purchase cryptocurrency or use our deposit services.  As such, you are no longer eligible to link any payment methods. We are not able to provide you with any additional information.

You will be able to transfer, sell, or withdraw any balance currently in your Coinbase account. Please note, you may need to wait until funds are available for withdrawal and we will not be able to expedite this process.

We're sorry for any inconvenience that this may cause.

Kind Regards,
Coinbase Support

When I first set up my account I was able to link my bank account to Coinbase and I was able to transfer money to and from my bank to my Coinbase USD wallet and I was also able to buy BTC without any issues. The restriction started after I had fallen to the lies of a "miner thief" and lost my money. I just wish I could find a way to restore my previous status with Coinbase.  :(

Is this the same case for both sites (being restricted after the transactions with BTC Miners)? If yes, it's really likely to be the reason. If Coinbase aren't able to give more info, why not try asking Abra? You might get a clearer answer from them.

You can't find a solution if you don't know the real cause.

OP will still receive the same or similar answer if he'd ask the same question on Abra. Exchanges and other sites won't tell you the reason why your account was closed (your lucky if they do).

The reason why his account is closed is likely between the miners one of the address could be related to something that broke the terms of the exchange.

Yes, I have asked Abra also and they basically said the same thing as Coinbase. I agree that the Bitcoin miners are the reason for my problem. I double-checked again with my bank and they reassured me that my account was in good standing with enough money and there are no restrictions on my bank account or debit card.
Three days ago I found a website called Changelly (transactions made through Simplex) and I was able to successfully purchase two test transactions of $100 and $200 using my bank debit card. The bitcoin showed up in my Abra BTC wallet within 10 minutes. I was ecstatic! Now, last night I tried to purchase the rest of the bitcoin ($3000) that I needed and now Simplex has restricted me. Here is the email that I just received from Simplex:

Simplex Support
9:57 AM (7 minutes ago)

Hello Brian,
 
Thank you for contacting Simplex Support.

I took a good look at your payment and unfortunately your payment was automatically declined by our system.
I am sorry to inform you that due to our company policy we are not able to disclose the decline reason.

Please note that your card was NOT charged for this payment. It was a credit card authorization check, rather than a charge.
This authorization has been voided successfully and the money should be freed within the next 48-72 business hours.
If for some reason it still does not display correctly within 3 business days, please let us know.

Has anyone had any problems like this before? Does anyone have any advice on what I need to do to find out why I can't buy bitcoin and what I need to do to fix the problem? I can't fix the problem if I don't know what caused it.

Your problem is slowly becoming one real mystery.

First thing, for anyone to have a clue what might have caused this you really need to tell us what or who are those bitcoin "miners".
Seriously, I have no clue what are you referring to.

Did you purchase or tried to purchase some miners? A cloud mining contract? Have you tried to mix those coins maybe?
You simply can't send coins to "some" miners.

If you are indeed blacklisted from 3 exchanges I wonder how have they flagged you, a simple transaction in the chain won't get you in this much trouble, I've never heard once about something like this unless you were involved in some darkweb business but at this point, you would probably write those from jail...

So, there is only one advice we can give you since its pretty obvious your ban or your ban account is useless.
Try with a bitcoin ATM. If that fails....you're cursed!!!

LE:
Wow, the fees ATMs charge near you....at least 7%..

I am not surprised to see that Coinbase has limited your account for no reason and technical support is not responding. If you read the news, then find out Coinbase does this all the time.
However, perhaps the exchange has detected some dangerous activity on your account? Where did you spend the coins, was it legal? And where are you from? If you are US citizen it could be a reason to ban you

You should use localbitcoins. Even in third world countries, you can use localbitcoins to buy Bitcoin from people near you. All you have to do is follow the instructions for whichever method you choose to buy Bitcoin, and it's a very safe process because localbitcoins escrows it so that the seller can not just run away with your money. Hope this helps.

Coinbase always has a restricted list of countries, each of which performs only certain functions on the Coinbase platform. In particular, many countries in Asia banned from trading on Coinbase, but some of them are only allowed to use the convert feature on this platform. Your search background is a limited country. But don't worry, there are plenty of P2P platforms offering services similar to Coinbase.

coinbase and abra are owned by the same company. so get restricted on one means get restricted on the other by default as they share info/use same internal system

to get full list of services that are partnered with coinbase/abra: https://dcg.co/portfolio/
this way you can save yourself time by not registering with these services that will restrict you quickly