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Author Topic: Where to go after Coinbase closes your account?  (Read 1445 times)
viraladbuilder
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February 10, 2016, 11:12:06 PM
 #1

I have used Coinbase as a processor for one of my sites for a couple years. My site is nothing illegal but that is beside the point. My Coinbase account was closed today with no specific reason given. So now where do I go for easy btc payment processing?
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February 10, 2016, 11:14:01 PM
 #2

Do you mean bitcoin to FIAT payment processor? Then use BitPay.

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February 10, 2016, 11:24:39 PM
 #3

Use bitpay if you're doing btc to fiat. They're the best for that, and pretty much the most reliable.

If you're doing an automatic btc payment processor (btc to btc), then use the blockchain.info API.



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February 10, 2016, 11:29:21 PM
 #4

If you're in the U.S; I think you can also be able to use Circle to complete those transactions, but not quite sure the process you would have to go through if you are a business.

But like everyone was saying above, I think BitPay is a very good choice (I've personally never used it though, and can't personally vouch for it).

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February 10, 2016, 11:33:22 PM
 #5

if you want to transfert your btc to fiat i think you could try neteller
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February 10, 2016, 11:34:37 PM
 #6

BitPay is a nice option for that.
I haven't tried many other so I am a bit biased, but I'd go for Bitpay

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February 10, 2016, 11:59:29 PM
 #7

They did the same to me last year, fuck 'em.  I'm not a bitcoin whale by any stretch of the imagination, so I'm not using Circle and they're totally fine.  Good luck finding another exchange wherever you end up.


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February 11, 2016, 01:53:49 AM
 #8

Maybe you should ask for that reason. Bitpay's pretty much the only other game in town. If there's a tweak you can do then do it or you might get shut down again. I guess their terms are similar.

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February 11, 2016, 02:04:16 AM
 #9

How many times have I heard this same story .... "coinbase closed my account". When are people just going to start using real bitcoin and not some shitty service like coinbase. Brian Armstrong knows absolutely zero about cryptocurrency.


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February 11, 2016, 12:38:25 PM
 #10

IMHO your best choice I doing it on your own, you can even hire someone to code it for you. it is not that hard to set up a payment address for your customers to pay bitcoin directly to your hot wallet.

other than that you can check out bitpay or circle but these payment processors usually have the same rules which might end up in your account being banned again.

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February 11, 2016, 12:43:07 PM
 #11

What are the reasons given for the closure of the accounts? I dependent entirely on coinbase and I am now worried that they might close the account with coins in it.
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February 11, 2016, 12:56:29 PM
 #12

What are the reasons given for the closure of the accounts? I dependent entirely on coinbase and I am now worried that they might close the account with coins in it.

If you are "entirely dependent on coinbase" you should really rethink your strategy, unless you like the fact that you could lose your bitcoins at any time.


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viraladbuilder
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February 11, 2016, 06:42:20 PM
 #13

What are the reasons given for the closure of the accounts? I dependent entirely on coinbase and I am now worried that they might close the account with coins in it.

They were not specific. I have one site that uses Coinbase. They flagged my account one time before for review and wanted to know what my site did. My site is an affiliate based site, not a HYIP, not a ponzi, not a matrix; a fully legal site. They fully approved my site. I ran it for 2 years until they closed my account.

They original reason was:
Quote
Thank you for your interest in Coinbase. Our primary goal is to make bitcoin safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.

We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the bitcoin balance currently in your Coinbase account; while we can no longer process bitcoin brokerage orders via our banking relationship, you may still send your bitcoin balance offsite to an external bitcoin address.

I pushed them for a better answer and got this:
Quote
Unfortunately, we are unable to support your business activities due to a recent change in our policy. We are very sorry for any inconvenience this may cause to you or your business.

So what this all comes down to is this... They make a policy change and then they completely close your account if your site no longer fits into their policy. No notification of policy change, no warning, not even an opportunity to come into compliance with the new policy change.

Really sucks having the entire account closed down because I live in one of the states that can use the Coinbase Exchange to buy and sell in real time. Even that is now gone.
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February 11, 2016, 07:02:32 PM
 #14

What are the reasons given for the closure of the accounts? I dependent entirely on coinbase and I am now worried that they might close the account with coins in it.

They were not specific. I have one site that uses Coinbase. They flagged my account one time before for review and wanted to know what my site did. My site is an affiliate based site, not a HYIP, not a ponzi, not a matrix; a fully legal site. They fully approved my site. I ran it for 2 years until they closed my account.

They original reason was:
Quote
Thank you for your interest in Coinbase. Our primary goal is to make bitcoin safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.

We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the bitcoin balance currently in your Coinbase account; while we can no longer process bitcoin brokerage orders via our banking relationship, you may still send your bitcoin balance offsite to an external bitcoin address.

I pushed them for a better answer and got this:
Quote
Unfortunately, we are unable to support your business activities due to a recent change in our policy. We are very sorry for any inconvenience this may cause to you or your business.

So what this all comes down to is this... They make a policy change and then they completely close your account if your site no longer fits into their policy. No notification of policy change, no warning, not even an opportunity to come into compliance with the new policy change.

Really sucks having the entire account closed down because I live in one of the states that can use the Coinbase Exchange to buy and sell in real time. Even that is now gone.


Standard Operating Procedure for coinbase ... no notice just WHAM! Account closed.

r/bitcon had a conniption when theymos removed coinbase  from the sidebar and bitcoin.org which I think was entirely justified considering they really aren't pro Bitcoin AT ALL.


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February 11, 2016, 07:04:49 PM
 #15

How many times have I heard this same story .... "coinbase closed my account". When are people just going to start using real bitcoin and not some shitty service like coinbase. Brian Armstrong knows absolutely zero about cryptocurrency.
Same reason I'll never use coinbase when they close people there account. Have seen it more then once on this forum that people are complaining about coinbase and there closing account activity.

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February 11, 2016, 07:08:07 PM
 #16

Why you don't explain it in the owner in coinbase or the support that your site is not a scam or ponzi or any violated site.
Its better to talk the owner in skype and explain it very well.. And i think they can review your site after review and seeing the content inside of your website they will give a review about your site and they explain what rules did you break..

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viraladbuilder
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February 11, 2016, 07:24:13 PM
 #17

Why you don't explain it in the owner in coinbase or the support that your site is not a scam or ponzi or any violated site.
Its better to talk the owner in skype and explain it very well.. And i think they can review your site after review and seeing the content inside of your website they will give a review about your site and they explain what rules did you break..

I have repeatedly asked them specifics, like quoting the actual policy change and they wont give me specifics. I have told them that I feel violated for not even been given the exact reason nor even the opportunity to come into compliance with their "recent policy change." All they do is avoid the answering the questions. Not going to waste my time with them. I already had a site review with them once before and they approved of my site, for 2 years. My best guess as to what they have an issue with is that I pay affiliates on 6 levels. Paypal made it a "policy" to not accept mlm way back in their beginning. True mlm is not illegal but PayPal got tired of being the mlm police so they just cut out all mlm. My best guess is Coinbase followed suit. Still pretty damn harsh to just completely close an account without warning nor an opportunity to comply. I can justify closing an account without warning if someone is involved in something illegal, but that certainly was not my case.
PassThePopcorn
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February 11, 2016, 08:10:55 PM
 #18

What are the reasons given for the closure of the accounts? I dependent entirely on coinbase and I am now worried that they might close the account with coins in it.

They were not specific. I have one site that uses Coinbase. They flagged my account one time before for review and wanted to know what my site did. My site is an affiliate based site, not a HYIP, not a ponzi, not a matrix; a fully legal site. They fully approved my site. I ran it for 2 years until they closed my account.

They original reason was:
Quote
Thank you for your interest in Coinbase. Our primary goal is to make bitcoin safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.

We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the bitcoin balance currently in your Coinbase account; while we can no longer process bitcoin brokerage orders via our banking relationship, you may still send your bitcoin balance offsite to an external bitcoin address.

Your site is a MLM, as most are considered scams or just end up being ponzi's that is likely the reason your account was closed.

There are MLM's in the US that are under scrutiny by the government over being ponzi's that actually sell products, not just click on ads  or links. As they wish to comply with government regulations it is much simpler to  ban you, there is no need to give a reason as they will not allow your business structure and seeing there is no way you can change it other than your wording of what the business is that is the reason you cannot be with them.

MLM: Multi-level-marketing (sometimes refereed to as a pyramid scheme)

wikenpp
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February 11, 2016, 08:26:33 PM
 #19

It depends on what you wanna exchange.
Also coinbase is anti scammers, what is also good of course.
I think for fiat, the best is bitpay in my opinion.
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