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Title: Coinbase and stuck funds, BTC depleting! Plz help Post by: Fociguy1 on May 16, 2021, 05:44:34 PM hi everyone, ,from Mi here...So May 7th, i purchased $10k bitcoin through coinbase(only place i could link my bank account to work,debicredit cards wiulodnt work) so that i could transfer it all to bitmart to purchase my Safemoon..
So i then get a email stating that my funds wont release till may 20th(wtf). so now my bitcoin value has went down to $8200.. do i just hold it and pray it shoots back up? im so stuck.. def a newb mistake.. plus theyre prob gonna charge me a bunch to transfer it also.. Anyone with my best optionto do? Title: Re: Coinbase and stuck funds, BTC depleting! Plz help Post by: LoyceV on May 16, 2021, 06:01:11 PM I don't use Coinbase, so I'm just guessing here: Isn't this hold period meant to prevent people from buying Bitcoin with hacked bank accounts? It sounds like a safety feature for new users.
Title: Re: Coinbase and stuck funds, BTC depleting! Plz help Post by: OmegaStarScream on May 16, 2021, 06:01:35 PM Not sure why Coinbase wouldn't release your funds but if you want to avoid this type of incident in the future, just buy USDT instead of BTC. That way, you're sure that even if the withdrawal process takes time, you won't lose (nor gain) anything due to price volatility.
On a side note: you probably shouldn't invest that kind of amount in something like Safemoon. Title: Re: Coinbase and stuck funds, BTC depleting! Plz help Post by: BitMaxz on May 16, 2021, 06:39:22 PM Usually, they hold withdrawal 3 to 5 days after the transfer from the bank account to your Coinbase account.
But it seems your BTC stuck on Coinbase for 14 days the same as what happened before around 2018 there are lots of people who experience this issue before Look at this topic "14 days waiting period after purchasing bitcoin with bank account (https://www.reddit.com/r/CoinBase/comments/8gpo5v/14_day_waiting_period_after_purchasing_bitcoin/)" You might be living in the US or EU where they raise their security or confirmation for bank transfer from EU or US banks. We don't know if the BTC will increase in price again soon there is nothing we can do Crypto is always volatile and no one could predict what will happen next. If you don't want to lose more much better withdraw them back to your bank account or if you still want to transfer it to another exchange to buy that coin then go ahead and wait until May 21 to transfer it to Bitmart. |