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Author Topic: Coinbase won't let me sell.  (Read 11086 times)
silentwitness
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November 03, 2015, 10:45:06 PM
 #1

I can't be the only person who's getting the silent treatment from Coinbase with a greyed out sell button, can I?

They'll let me buy as much bitcoin as I want, but they won't let me sell not 1 of my 20+ bitcoins on my account.  So, here I'm sitting with over $3K profit, trying to sell, and not only do they not allow me to sell, but there's no one around to give me an explanation.  The chat feature isn't running and they won't answer email.

This is criminal if you ask me.  I'm sure this bullshit is covered in their TOS (read: legalized criminality), but I don't care.

This is my money.  When you tell me that I can't withdraw my bitcoins and I can't sell my bitcions...well then, that tells me that they aren't really my bitcoins.  So what did I pay over $5K for?  Some numbers on a screen?

I'm wondering if it will be convenient for coinbase if I sell when it's back down in the $200 ~ $250 range, or if they'll only allow me to buy "bitcoins" (if that's what they're really selling there) again.

What a joke that place is.  No wonder why bitcoin hasn't went mainstream yet, when the world's biggest bitcoin exchange blocks you from withdrawing or selling your "own" (again, I question this) bitcoin.
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November 03, 2015, 10:46:55 PM
 #2

I can't be the only person who's getting the silent treatment from Coinbase with a greyed out sell button, can I?

They'll let me buy as much bitcoin as I want, but they won't let me sell not 1 of my 20+ bitcoins on my account.  So, here I'm sitting with over $3K profit, trying to sell, and not only do they not allow me to sell, but there's no one around to give me an explanation.  The chat feature isn't running and they won't answer email.

This is criminal if you ask me.  I'm sure this bullshit is covered in their TOS (read: legalized criminality), but I don't care.

This is my money.  When you tell me that I can't withdraw my bitcoins and I can't sell my bitcions...well then, that tells me that they aren't really my bitcoins.  So what did I pay over $5K for?  Some numbers on a screen?

I'm wondering if it will be convenient for coinbase if I sell when it's back down in the $200 ~ $250 range, or if they'll only allow me to buy "bitcoins" (if that's what they're really selling there) again.

What a joke that place is.  No wonder why bitcoin hasn't went mainstream yet, when the world's biggest bitcoin exchange blocks you from withdrawing or selling your "own" (again, I question this) bitcoin.

It's a standard tactics of Coinbase, next time google about a company before using its service.
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November 03, 2015, 10:48:21 PM
 #3

I can't be the only person who's getting the silent treatment from Coinbase with a greyed out sell button, can I?

They'll let me buy as much bitcoin as I want, but they won't let me sell not 1 of my 20+ bitcoins on my account.  So, here I'm sitting with over $3K profit, trying to sell, and not only do they not allow me to sell, but there's no one around to give me an explanation.  The chat feature isn't running and they won't answer email.

This is criminal if you ask me.  I'm sure this bullshit is covered in their TOS (read: legalized criminality), but I don't care.

This is my money.  When you tell me that I can't withdraw my bitcoins and I can't sell my bitcions...well then, that tells me that they aren't really my bitcoins.  So what did I pay over $5K for?  Some numbers on a screen?

I'm wondering if it will be convenient for coinbase if I sell when it's back down in the $200 ~ $250 range, or if they'll only allow me to buy "bitcoins" (if that's what they're really selling there) again.

What a joke that place is.  No wonder why bitcoin hasn't went mainstream yet, when the world's biggest bitcoin exchange blocks you from withdrawing or selling your "own" (again, I question this) bitcoin.

Hey my good sir, I have had similar occurrences.. It just wouldn't move.
I waited 3 weeks after sending multiple mails..

I would just pull, like I did.
Honestly.

I am in Blockchain now, but I am trying to move to something more secure, so I can hold bitcoins safe there, and allow people to hold theirs as well. Smiley

Just my thoughts

Molotovski


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November 03, 2015, 10:48:55 PM
 #4

Coinbase is the devil. Sponsored by banks and is trying to wrestle power away from Bitcoin users by supporting an implementation that would soon make it impossible for regular users to run nodes without dishing out thousands of dollars.

I suggest you don't use them.  Smiley

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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November 03, 2015, 10:49:03 PM
 #5

Calm down. Technically it's not your money until you've realised the profit.


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November 03, 2015, 10:50:59 PM
 #6

Quote
Coinbase with a greyed out sell button

Does that mean your account might not be verified?
silentwitness
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November 03, 2015, 10:53:37 PM
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Coinbase with a greyed out sell button

Does that mean your account might not be verified?

Well, I'm logged on.  So I'm not sure why it would qualify as unverified.
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November 03, 2015, 10:54:34 PM
 #8

This is generally verification issues...this would be better suited in service discussions btw
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November 03, 2015, 11:00:45 PM
 #9

Quote
Coinbase with a greyed out sell button

Does that mean your account might not be verified?

Well, I'm logged on.  So I'm not sure why it would qualify as unverified.

Can't you just chat with the live chat support and directly ask them why this is the case? I have absolutely no problem whatsoever with Coinbase. And verification is you verifying your identity by giving them a copy of your driver license or such.

Just logging in is not having a verified account.

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November 03, 2015, 11:01:44 PM
 #10

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Coinbase with a greyed out sell button

Does that mean your account might not be verified?

Well, I'm logged on.  So I'm not sure why it would qualify as unverified.

They'll only let you sell when you have uploaded ID documents. Standard KYC AML procedures for any exchange that handles both crypto and fiat
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November 03, 2015, 11:02:22 PM
 #11

You need to verify that you are who you say you actually are. Not simply log on.


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silentwitness
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November 03, 2015, 11:03:52 PM
 #12

Calm down. Technically it's not your money until you've realised the profit.

How is that?

When I put in $250 to buy a bitcoin, that $250 was my money.  The agreement between myself and coinbase, I assume (perhaps I have to read the TOS more closely), is that the exchange of cash for the bitcoin means that I now own it, as in, I can now spend it or withdraw it from the account (just like any normal bank account) and, being that it is an EXCHANGE after all, I should also be able to exchange that bitcoin back for cash.

I would understand if Coinbase sold on a spread (say 4 to 8 dollars under the listed price), taking some commissions on the sale like a normal exchange, but not freezing your withdraw function and erasing the sell button without explanation.

PS:  I'm not stressed, just disappointed.

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November 03, 2015, 11:07:30 PM
 #13

Calm down. Technically it's not your money until you've realised the profit.

How is that?

When I put in $250 to buy a bitcoin, that $250 was my money.  The agreement between myself and coinbase, I assume (perhaps I have to read the TOS more closely), is that the exchange of cash for the bitcoin means that I now own it, as in, I can now spend it or withdraw it from the account (just like any normal bank account) and, being that it is an EXCHANGE after all, I should also be able to exchange that bitcoin back for cash.

I would understand if Coinbase sold on a spread (say 4 to 8 dollars under the listed price), taking some commissions on the sale like a normal exchange, but not freezing your withdraw function and erasing the sell button without explanation.

PS:  I'm not stressed, just disappointed.



Yes, that is typically is what happened when you deal with a bank.

Just move your money out of it and carry along.

Hold on to that Bitcoin also for dear god did you not look at the price?

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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November 03, 2015, 11:08:22 PM
 #14

But if I understand you correctly you haven't sold your coins so haven't yet realised any profit. And it's not likely to happen until you verify your account or move the coins elsewhere to sell.


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November 03, 2015, 11:14:48 PM
 #15

Quote
Coinbase with a greyed out sell button

Does that mean your account might not be verified?

Well, I'm logged on.  So I'm not sure why it would qualify as unverified.

They'll only let you sell when you have uploaded ID documents. Standard KYC AML procedures for any exchange that handles both crypto and fiat

Do I have to send them proof ID every time that I want to sell bitcoin?

I already sent them photo ID and jumped through all kinds of other hoops to verify my identity way back when I first opened the account and went through all the steps to increase my buy limit, have $1000.00 instant buy, and $10,000 sell limit.

And, since this forum will only allow me one post per 360 seconds, to answer a question from another person, I would chat with them about my issue if the chat feature were made available to me.  They've been "gone" all day.
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November 03, 2015, 11:22:11 PM
 #16

But if I understand you correctly you haven't sold your coins so haven't yet realised any profit. And it's not likely to happen until you verify your account or move the coins elsewhere to sell.

I've tried to sell my coins.  The not selling of the coins is an issue on coinbase's end, not mine.

Or maybe it isn't their issue.  Perhaps I am just ignorant as to why I don't qualify for selling, but coinbase should have a rep who can respond to my situation in less than a day, right?  Because I've been trying to contact them for the better part of the last 6 or so hours via email w/ no responses and their chat box says that they're "away" (unable to chat).

So, what's a man to do?
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November 03, 2015, 11:25:44 PM
 #17

...

I know very little about exchanges, but I offer up the below as a company that Provident Metals uses to handle their precious metals sales via Bitcoin (never a glitch when I have paid, and I doubt that Provident would use them if they had bad service):

https://bitpay.com

But, they may only work with businesses...  Anyone fed-up with coinbase should look for other options.
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November 03, 2015, 11:34:11 PM
 #18

...

I know very little about exchanges, but I offer up the below as a company that Provident Metals uses to handle their precious metals sales via Bitcoin (never a glitch when I have paid, and I doubt that Provident would use them if they had bad service):

https://bitpay.com

But, they may only work with businesses...  Anyone fed-up with coinbase should look for other options.

Thanks for the suggestion, OROBTC.

I might just end up moving my coins elsewhere, if this doesn't get solved soon.

PS: I was mistaken earlier when I said that coinbase won't allow me to withdraw my bitcoin.  I can spend and move my bitcoins, but they won't let me withdraw from my $USD wallet to my bank account and they removed the sell button for exchanging bitcoin for $USD.
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November 03, 2015, 11:39:27 PM
 #19

You've obviously not bothered to verify your account properly or done it incorrectly. I've just logged onto my account and sold a mbit. Process was effortless I'm glad to say. I guess you need to move your coins to sell elsewhere or contact support.


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November 03, 2015, 11:45:37 PM
 #20

You've obviously not bothered to verify your account properly or done it incorrectly. I've just logged onto my account and sold a mbit. Process was effortless I'm glad to say. I guess you need to move your coins to sell elsewhere or contact support.

Hmm, well that's positive news, I guess.

Thanks for doing that, btw.

Well, like I said in an earlier post, I had to send photo ID and verify my identity in other ways (answering questions that related to my home address), in order to expand my buy and sell limits, so I'm not sure why I would need to send all that stuff again.

Unless I'm expected to fax photo ID every time that I want to sell.
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