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want0sell (OP)
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December 21, 2016, 08:00:51 AM
Last edit: June 14, 2019, 04:39:05 PM by want0sell
 #1

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December 21, 2016, 09:11:18 AM
 #2

I think it would mainly depends on the reason why they close down your account. if you have broken some of their rules they may block your account and don't pay you back or if there is some other reason they may block you but offer you a way to withdraw.
in any case you should read their Terms of services and rules to figure this out for sure. or stop using them for things like gambling,... because they will close it.

I remember I had an account there but since they stopped giving service to my country they closed my account but I received an Email asking me for a bitcoin address to send my balance to, although I had 0 balance there.

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jacee
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December 21, 2016, 09:16:37 AM
 #3

If coinbase decided to close my account for gambling or some other reason, will I be able to withdraw my funds before they close my account?
I don't know about coinbase policy but a local exchange similar to coinbase that I am using also prohibits the use of their wallet in storing coins that is accumulated thru gambling.
What they do is they give a notice first to a user who violates their TOS and asks them to withdraw the money first before they lock the account. I don't know if coinbase also will do that.
Safest option for you is to use a different wallet if you are accepting coins from gambling or use a mixer like cryptomixer to clean the coins you are receiving in your coinbase wallet so the trace of it being from a gambling site will be wiped off.
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December 21, 2016, 11:33:08 AM
 #4

They're probably gonna freeze/suspend your account first, and then send you notification about it.
You can still recover your funds,(within 90 days) but they may ask you to pass a verification of some kind prior to that.
It's surely going to be a hassle so a)Read their Terms and make sure not to violate it b) Use a different service that doesn't have as much restrictions c) Use a desktop wallet so you have FULL control of your funds.

Quote
You will be permitted to transfer Digital Currency or funds associated with your Hosted Digital Currency Wallet(s) and/or your Currency Wallet(s) for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under the law, including but not limited to applicable sanctions programs, or (ii) by a facially valid subpoena or court order. If Coinbase suspends or closes your account, or terminates your use of Coinbase Services for any reason Coinbase reserves the right to require you to complete the Verification Procedures before permitting you with transfer or withdraw Digital Currency or local currency.
https://www.coinbase.com/legal/user_agreement?locale=en

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Joel_Jantsen
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December 21, 2016, 03:49:18 PM
 #5

If coinbase decided to close my account for gambling or some other reason, will I be able to withdraw my funds before they close my account?
No,your account would suspended without the warning as per their terms and conditions which you "Agreed To" while signing up.
BitcoinExpart
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December 24, 2016, 09:15:39 AM
 #6

If coinbase decided to close my account for gambling or some other reason, will I be able to withdraw my funds before they close my account?
No,your account would suspended without the warning as per their terms and conditions which you "Agreed To" while signing up.
Yes,Absolutely correct.I'm also coinbase user but I've well much knowledge about there policy as the reason still I'm using it safe without facing any difficulty.Though I have a close friend who have faced this same problem and in end he lost his 50$ worth of bitcoin.Be alart always when you are using coinbase.

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Feetaroni
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January 05, 2017, 03:34:40 AM
 #7

If coinbase decided to close my account for gambling or some other reason, will I be able to withdraw my funds before they close my account?
No,your account would suspended without the warning as per their terms and conditions which you "Agreed To" while signing up.
Yes,Absolutely correct.I'm also coinbase user but I've well much knowledge about there policy as the reason still I'm using it safe without facing any difficulty.Though I have a close friend who have faced this same problem and in end he lost his 50$ worth of bitcoin.Be alart always when you are using coinbase.

I'm not sure of this but I also thought this was true, the fact is that coinbase is creating pretty rare situations, most likely they will simply suspend your account and not give and funding back.
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January 05, 2017, 05:48:55 AM
 #8

Every case is different. Normally when you are breaking their Tos with minor offease, use wallet to fuel your gambling service or share it with other people (it is all forbidden).
Your account can be suspended but your money won't be frozen - you will be allowed to withdraw it.

The more problematic case is when Coinbase is suspecting that you are using their services as money laundering tool - until you will prove that you are innocent your account will be fully frozen.


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