CoinBase

[playinem]

I have been a CoinBase customer for several months. Everything seemed fine until I tried to withdraw some of my funds to my PayPal. I'm beginning to think I'm getting ripped off. I live in NorCal and am an a attorney so hauling them into Small Claims won't be a big deal. I just want to know if this is a common experience. Please, for anyone who suggests contacting their customer service...that is a complete joke. It is essentially non-existent. I had high hopes for a relationship with this company and digital currency. Are there any more trustworthy businesses out there that do what CoinBase claims to do but do it honestly?

[hilariousetc]

Their customer service is non-existent in my experience and I'm not the only one if you check their reddit. I've had my money stuck on there for four plus months and contacted support 7+ times with not a single response at all. Completely unnaceptable. As for other exchanges the only other one I've used without any problems is Kraken.

[warningsigns]

They are FinCEN licensed and they know they are untouchable. They have the US Department of the Treasury's blessings to operate with impunity and as they wish. It's like injecting your own money into their system and then later begging and pleading for a chance to access those very same funds YOU own.

For one, they have a poor record of customer support. A company that makes it extremely difficult to reach their support staff, that forces you to open a facebook or twitter account just so you can attempt to contact them about any account issues, is a company with zero ethics. Real companies (such as decent banks) have functional phone numbers and people to discuss and resolve account-related problems or even critical and pressing issues such as withdrawal problems or account blockage or stuck transactions.

They may be established for years and have a solid standing in the exchange business but that doesn't mean they offer the best user experience. They have endless reviews and complaints on the world wide web about their miserable support system.

And they have a solid legal team for sure. If you take them to court, they will bide their time and read you every fine print on their books.

[tora]

I stopped using coinbase when they increased their withdrawal fees.