Have any of you ever had your Coinbase or Circle accounts closed?

[btctrading7]

I've read many reports of these two companies closing accounts for "high volume inconsistent with personal use" so was wondering if any of you have ever had your Coinbase or Circle accounts closed for "high volume"? If so, what were your monthly buy amounts before they asked for AML/KYC details?

[The Sceptical Chymist]

Yes, coinbase closed my account but it was because I tried to make a $4 buy from a bank account I had closed, and it was an accident.   I also use Circle and my bank questioned me about whether I was using it just for me.  Crazy.  But they didn't close my account yet.

[noel57]

I have never heard either of the websites closing accounts due to high volume of buy or sell but due to inconsistency and account details mismatched, just for security purpose.

[onlinedragon]

No so far I never had the problem they closed mine account. There are stories about people who got there account closed by Coinbase because they gambled.

[btctrading7]

Thanks guys. If I were to buy $30,000 USD per month, would they close the account and require me to have AML/KYC licenses and policies?

[Serpens66]

Thanks guys. If I were to buy $30,000 USD per month, would they close the account and require me to have AML/KYC licenses and policies?

maybe you should ask the support or search the website when verification is needed?
maybe some articles in the FAQ are helping:
https://support.coinbase.com/customer/en/portal/topics/771345-our-customer-commitment/articles

[n691309]

Thanks guys. If I were to buy $30,000 USD per month, would they close the account and require me to have AML/KYC licenses and policies?

This is a big amount to buy monthly, i would highly suggest to contact directly coinbase or circle, i have read that if they close your coinbase account they will ask you to for an external address to send the remaining bitcoins but research to be sure.

[twister]

Yes, my coinbase account was closed due to inactivity, I made it when I started with BTC but realized the importance of private keys after that and stopped using it once and for all.

Thanks guys. If I were to buy $30,000 USD per month, would they close the account and require me to have AML/KYC licenses and policies?

Most definitely YES.

[BitMaxz]

As of now i never experience it yet but i heard it many times here in our forum also in reddit.. Also they are closing you account if you are receiving a bitcoins from gambling site so better to talk the support if what are they rules...

[btctrading7]

Well any BTC going out of my Coinbase/Circle account is always passed through a mixer for privacy. Any coins going back in may also pass through a mixer depending on where it's coming from.

I know it's against Coinbase/Circle policy to trade bitcoins, but I feel that is my right as a customer. So I currently just say I'm using their BTC for investing and business when Coinbase had asked me recently.

I wonder why they offer $10K per day buy limit, if they would limit me for buying $30K per month consistently?

[apoorvlathey]

My CoinBase account got suspended without any reason. I think this would have been due to the fact that i got some satoshis from the gambling sites.
After that i withdrew all my btc to desktop wallet and stopped using it.

[RealPhotoshoper]

I have never heard either of the websites closing accounts due to high volume of buy or sell but due to inconsistency and account details mismatched, just for security purpose.

Sure coinbase will close your account if they think there is something suspicious like a high buying/selling transaction  volume.
They need to verify user with huge transaction volume to avoid something illegal, coinbase not allow any illegal activities in their service like gambling, ponzi etc.

[SFR10]

I believe what they do is a normal safety implementation by doing it since, sudden increase of volume than usual could actually be a reason to someone earning in a dishonest way and they do this to make sure it won't happen. I'm sure if you could prove than nothing on your side is against their rules, they would re-open your account. On a side note: Coinbase literally suspends account to a lot of reason and the reason for your account suspension could actually be something else. I tried to open an account in the past with them, but the minute after account creation, my account got suspended due to my location.

[yenxz]

I've read many reports of these two companies closing accounts for "high volume inconsistent with personal use" so was wondering if any of you have ever had your Coinbase or Circle accounts closed for "high volume"? If so, what were your monthly buy amounts before they asked for AML/KYC details?

so far i never felt that,conbase is so good so far,i never found any problem.
but i watch from some thread that coinbase often to close some accounts with unrational reason,but one thing that make me sure that coinbase hate gambling site,they will close some wallet if that wallet receive bitcoin from gambling site.

[equator]

I have read on this forum so many thread regarding coinbase and xapo closing down the accounts who are in gambling or some suspicious trading in bitcoins , but i have not got any problem like this and i am a very small gambler so they wont bother it. But now i think i have to switch over to desktop wallet which will be safe if any day they just close my account before itself knowing their trouble and then cry.

Thanks for the information on coinbase wallet.

[auswalk]

I have read on this forum so many thread regarding coinbase and xapo closing down the accounts who are in gambling or some suspicious trading in bitcoins , but i have not got any problem like this and i am a very small gambler so they wont bother it. But now i think i have to switch over to desktop wallet which will be safe if any day they just close my account before itself knowing their trouble and then cry.

Thanks for the information on coinbase wallet.

Gentlemen, if you can't see the need to start converting BTC into anonymous coins immiediately after acquiring them from the coinbase boys, you're missing the bigger picture. We just need markets to start accepting those coins exclusively, for everbodiy's protection.

[alyssa85]

Some people on reddit have reported Coinbase closing accounts because the coins went to gambling or pharma sites. Have no idea how Coinbase is monitoring this - perhaps they have a blacklist of addresses you get into trouble for sending to?

[KenR]

Some people on reddit have reported Coinbase closing accounts because the coins went to gambling or pharma sites. Have no idea how Coinbase is monitoring this - perhaps they have a blacklist of addresses you get into trouble for sending to?

No there is no such blacklist of addresses as most of the addresses are not reused again in case of gambling sites.Unique address for every player.However they belong to the same wallet ,which could be easily found with service such as walletexplorer .Most of the accounts closed by coinbase were gambling wallets,has nothing to do it volume though!

[alyssa85]

Some people on reddit have reported Coinbase closing accounts because the coins went to gambling or pharma sites. Have no idea how Coinbase is monitoring this - perhaps they have a blacklist of addresses you get into trouble for sending to?

No there is no such blacklist of addresses as most of the addresses are not reused again in case of gambling sites.Unique address for every player.However they belong to the same wallet ,which could be easily found with service such as walletexplorer .Most of the accounts closed by coinbase were gambling wallets,has nothing to do it volume though!

So Coinbase was tracking wallets, is that what you are saying? How do they know which wallet belongs to gamblers and which don't?

[Bitinity]

Some people on reddit have reported Coinbase closing accounts because the coins went to gambling or pharma sites. Have no idea how Coinbase is monitoring this - perhaps they have a blacklist of addresses you get into trouble for sending to?

No there is no such blacklist of addresses as most of the addresses are not reused again in case of gambling sites.Unique address for every player.However they belong to the same wallet ,which could be easily found with service such as walletexplorer .Most of the accounts closed by coinbase were gambling wallets,has nothing to do it volume though!

So Coinbase was tracking wallets, is that what you are saying? How do they know which wallet belongs to gamblers and which don't?

Yes they do it imo, afaik they track some hot wallets of well known bitcoin gambling sites like betcoin.ag so when their users receive from one of the tracked hot wallets of gambling site then they will ban the users. That's why many people avoid coinbase if they want to use their btc to gamble.