Coinbase the Bitcoin Dumpster

[chixka000]

Coinbase is one of the huge exchange sites right now in the market and they are supporting a million people. that would be their flaws i guess they would only support which for them they can benefit a lot jsut sayin tho

[1714758403]

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[1714758403]

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[Layyla]

I've never used coinbase, but i saw many peoples had problems with them.
I hope they wont be like MtGox.

[RoomBot]

I've never used coinbase, but i saw many peoples had problems with them.
I hope they wont be like MtGox.

They won't.

They have the BitLicense.  They're insured.

They are definitely having scaling problems, however.  Serious growing pains.

The first time I tried to buy from them BTC was about $130.

They turned me down & I was pissed!

By the time I got verified (Not a "RISK" anymore, LOL) BTC was down to $111.00

I got my first whole BTC from Coinbase at $111.00.

Been buying and selling ever since.

I keep half of my 'Coin in the free Coinbase "Vault."

I recommend it for N00bs.

Very pleased Coinbase decided to credit customers with BCH.

It's a good idea for a lot of people to HOLD according to one of the 2 articles cited above.  Coinbase customers will have to hold their BCH for a few months. If Devs really want to pump it, we can wait.

[Brubaker]

You are absolutely correct.   I lost my phone and now I cannot access my account, and Coinbase could care less.  Looks like I'm going to lose my coins.   Leave this exchange before you lose your coins.

Simply download the coinbase app & authy app on your new phone with the same phone number.

Worked for me.

Room, I'm not sure I understand.   My new phone has a new number of course, but they would send the verification code to the old number that I can't access.

[RoomBot]

You need to use the same cell phone number on a new phone.

You wouldn't want any random number accessing your account.

[illyiller]

So aside from Coinbase what do US based users use to convert to fiat?

It seems like Gemini is the next up-and-coming contender. I'm not sure whether they are competitive with Coinbase's volume yet, but of the newcomers I know in the space, more are using Gemini than anywhere else.

I tried to sign up with Gemini, but unfortunately, they only accept IDs that comply with REAL ID. My state doesn't comply yet (I assume they will start complying by 2018 due to new federal transportation regulations). I wish they told me that before rejecting my documents, because I gave them a lot of really sensitive info. I guess I either need to shell out for a passport (not really necessary for me) or wait until I can get a compliant state ID.

[giveen]

I agree with you coinbase was a really good online wallet but when price used to rise by a large margin they normally shut down their site saying they are facing ddos attack in order for people to not sell their coins. Same when the price fell they are in other words controlling our funds that's why i decided to switch to xapo but now with xapo i have fees issues. My advice to all who have stored thier funds in coinbase if you are a trader who sells bitcoin for high and then buys low change you wallet most likely in a situation like this coinbase won't allow us to login.

[dreamer81]

So many of these exchanges have problems. I foresee that decentralized exchanges will be the future. Which ones are you using right now?

[RoomBot]

I agree with you coinbase was a really good online wallet but when price used to rise by a large margin they normally shut down their site saying they are facing ddos attack in order for people to not sell their coins. Same when the price fell they are in other words controlling our funds that's why i decided to switch to xapo but now with xapo i have fees issues. My advice to all who have stored thier funds in coinbase if you are a trader who sells bitcoin for high and then buys low change you wallet most likely in a situation like this coinbase won't allow us to login.

I've been using Coinbase since 2013.  I don't recall any of those things ever happening.

[wurth]

So many of these exchanges have problems. I foresee that decentralized exchanges will be the future. Which ones are you using right now?

Yeah, decentralized exchanges is best idea for trader and holder after the accident of BTC-e offline in last month. I know in current altcoin Waves has a platfrom this exchange, you can read more detail about it at: https://wavesplatform.com/downloads.html

[HabBear]

You are absolutely correct.   I lost my phone and now I cannot access my account, and Coinbase could care less.  Looks like I'm going to lose my coins.   Leave this exchange before you lose your coins.

LOL! I thought this was just us. The miss broke her phone in a non repairable way some time ago, she has essentially been unable to access or use her account since then. What compounds the epicness of the situation is the fact she's holding 30ish dollar ETH because of this. We can't even remember how many she purchased; she was switching some Coinbase USD to btc and brought a few with the extra money on the account. So every time ETH goes up, I get sad, then I remember we will access it one day.

Ok, i need an education, how does breaking your phone make it impossible to access your account? I assume it's die to the 2fa, how is getting the 2fa code not possible without your phone?

I just had a service issue with Coinbase on July 29th. I requested service, so they temporarily locked my account. I was shocked. The issues wasnt even a susoected compromise or hack. And the fact that i need to get my BTC out of Coinbase before August 1st made this a very tense situation for me. They wete in immediate email contact with me, unlocked my account on the 31st and i was able to get my Bitcoin out (so as to collect Bitcoin cash elsewhere) easily that same day.

If there is a risk with using 2fa...why should we use it at all?!

[Gotottack]

So many of these exchanges have problems. I foresee that decentralized exchanges will be the future. Which ones are you using right now?

Yeah, decentralized exchanges is best idea for trader and holder after the accident of BTC-e offline in last month. I know in current altcoin Waves has a platfrom this exchange, you can read more detail about it at: https://wavesplatform.com/downloads.html

If you guys use those trusted ones like poloniex you guys wouldn't have problems with your exchanges. So far I never had any problems with them and they have no issues whatsoever.

I guess, those guys at BTC-e are going to get what they deserve by closing it down. Since there are a lot of cases pending against them now.

[Mpamaegbu]

I've been trading on Coinbase about 4 years. I sent a Litecoin back in April as a test before sending the rest, and it's still pending on the Coinbase end after 4 months. After several support tickets, and trying to call I gave up on them entirely. It shows up with over 60 thousand confirmations, and they just completely ignore me. I'm not the only one that's had this happen in recent months. They have quickly turned into the worst exchange available. I'd heavily advise against trading with them. If you have an account with them, move it somewhere else, or offline.

This is really sad. Did you say after 4 months and transaction has been pending at their end? Frustrating I must say. I now think I am lucky that I never got through registering on that site. OP, since Coinbase is trying to make it cumbersome for you, why don't you go ahead and give them bad publicity on crypto pages on Facebook. Frustrate their business and alert many others too...

[MANCRYPTOS]

I've been trading on Coinbase about 4 years. I sent a Litecoin back in April as a test before sending the rest, and it's still pending on the Coinbase end after 4 months. After several support tickets, and trying to call I gave up on them entirely. It shows up with over 60 thousand confirmations, and they just completely ignore me. I'm not the only one that's had this happen in recent months. They have quickly turned into the worst exchange available. I'd heavily advise against trading with them. If you have an account with them, move it somewhere else, or offline.

  Yep, you are right my friend. I had a problem like you 2 times in the same month. Coinbase control your money behind you.... so their support never fixed my problems and for now my coins I have on poloniex

[L]

I've bought bitcoin, sold bitcoin, withdrew bitcoin, deposited litecoin, sold litecoin, withdrew litecoin, all done very quickly, never had any problem.

Had a small issue with my account deposits, couldn't access deposit address, opened a ticket and even with all new users in the past 3 months next time I logged in issue was solved.

As far as my experience with them goes, it's been great.

[BigJRepairs]

Hey thanks to everyone for the support. It's been really frustrating so I kind of took a crypto break. To be clear it's 1.0 LTC I was able to see the transaction come in on the block chain. https://live.blockcypher.com/ltc/tx/9a4458dbbb27a9f04b13023a9aef6220322a34f80aeb3c6bfba5200bd8c23b3b

Then I got the confirmation email from Coinbase that it was received. From that point forward it just shows as pending in my Coinbase wallet with the 60,000 confirmations.

As far as the people not having issues with Coinbase, yes I understand that. I've had an account with them for over 4 years, and haven't had a problem with much larger transactions. I am explaining why I have lost faith in them entirely despite that fact.

The two biggest concerns that I have are that they don't understand the issue, and it's clear that the litecoin continued to move from then on. I thought at first it was just moving to cold storage, but I'm not sure now. I mean they literally emailed me that they don't understand what the problem is. It's possible they've become entirely inept at dealing with Litecoin in Charlie Lee's absence, and it's still there somewhere. It's also possible that someone is stealing Litecoin on their end from the hot wallets, and they really don't know what the hell is going on. I have another ticket open with them, I think 4 months is a little excessive, and there's still no resolution of any kind. That's why I would not do any business with them in the future.

http://i67.tinypic.com/261gaxj.png
http://i64.tinypic.com/k9fbr5.png

[BigJRepairs]

So aside from Coinbase what do US based users use to convert to fiat?

There isn't a good one that I would trust with large transactions. I hate saying that. I've used Cryptsy, Xapo, Kraken, Poloniex. Even Bitfinex before they made really nervous. While I've never had problems with any of those. I've never given them the opportunity above 1-2 BTC at a time to make any problems. I would say trust your instincts but that hasn't gotten me very far with Coinbase lately.

Sounds like you're not telling the whole story. I haven't had any issues with coinbase and Dan is very quick to response when I contact him.

There isn't a whole lot else to tell. Other than at one point they told me it was a common bug that was occurring, and had me go through setting up margin trading on GDAX. They said the solution was to toggle the margin switch back and forth. I really didn't want to do it in the first place, but it didn't work. When they split everyone's wallet for GDAX, a lot of these types of problems started occurring. I totally understand they make a lot of money with Wells Fargo from it, but they're killing themselves with it as a reliable exchange. The best I can tell they've been buying into the sales pressure they monitor on Coinbase, on credit from Wells Fargo, and probably these "lost transactions" as well. At a minimum I would not do business with them again unless they separate the two ventures. Pumping a big fat blow up in your face bubble. If you have a Coinbase wallet, you also have a mirror GDAX wallet.

Type your response ABOVE THIS LINE to reply

Subject: Litecoin
AUG 14, 2017  |  12:36AM PDT
Skye replied:
Hi,

Thank you for contacting Coinbase Support. We sincerely apologize for not answering your inquiry in a reasonable amount of time.

If you are still experiencing this issue, simply reply to this email with screenshots of error messages or other relevant information that you think would help us solve and understand the issue, and we be happy to work on a resolution for you. If your issue has been resolved, no reply is needed.

Thank you for your patience during this time and for your continued support while we improve our service.

How satisfied were you with the quality of service we provided today?
 Poor |  Fair |  Good |  Great
JUL 30, 2017  |  12:08AM PDT

I've put in several support tickets since April regarding a Litecoin transfer which shows in my transaction history but doesn't allow me to access the Litecoin. I've been buying, and selling bitcoin on here for 4 years, and so I wanted to make sure you understand that in my opinion you have flushed your name straight into the garbage. If you cant handle basic transactions for customers, you shouldn't be messing with money. It's really that simple. It's not the margin switch, or my browser, somebody needs to look at the transaction.

TypeTimeAmount (LTC)Status
deposit
10:58:56 am - Apr 20, 2017 UTC
1.00000000Complete
Transfer ID: 64481032-c7a9-426d-ad14-9db0a33a7a06
Estimated Payout:
01:06:03 am - Jul 30, 2017 UTC
LTC transaction hash: 9a4458dbbb27a9f04b13023a9aef6220322a34f80aeb3c6bfba5200bd8c23b3b
JUL 04, 2017  |  09:42PM PDT

Yes hi I understand you're new to the issue. I had a Litecoin as in 1 LTC
which still shows under that transfer ID and transaction hash, but I am unable
move/buy/sell/trade with it. It was really a shame because this was a test
LTC that failed, and as a trader ended up moving hundreds of them with
other exchanges while this ticket has been open. You know it's been
averaging a month between responses for some time, and so I hope you can
understand why I have no faith in Coinbase anymore and why I share the
story with other traders.

Thanks,

MAY 26, 2017  |  07:26PM PDT
Dan replied:
Sorry for the very delayed response.

I’m new to the team this week and only working on cases we’ve failed to respond in a timely manner on. Is this still an issue I can help you on?

APR 24, 2017  |  04:43AM PDT
The Litecoin I sent still shows under transactions but I can't do anything
with it.

Transfer ID: 64481032-c7a9-426d-ad14-9db0a33a7a06
LTC transaction hash: 9a4458dbbb27a9f04b13023a9aef62
20322a34f80aeb3c6bfba5200bd8c23b3b
APR 24, 2017  |  09:32PM PDT
Josie replied:
Hello and sorry for our delayed response.

If your issue has been resolved:
Please disregard this message.

If your issue has not been resolved:

Visit our Support Center for solutions to most problems
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Change country or state
Sell or cash out
If you require further assistance, please reply to this message with a note that you still need help.
We are working to grow our team to scale and appreciate your support as we improve our services.

How satisfied were you with the quality of service we provided today?
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APR 20, 2017  |  05:48AM PDT
Original message

I sent 1.0 LTC, as a test which was confirmed by your email system, but it doesn't show up in my account. It was intended for GDAX. When you find it, can you also let me know if the address is good to send to in the future? Thank you, https://live.blockcypher.com/ltc/address/LRte1L2UuC49t6yeBmP5rsPkkixRnkVSWH/

[btcprospecter]

I hope I don't have too many problems when I come to withdraw from them I should of bought from them 18 months ago when the price was under 200. I hear alot of people have problems with coinbase but also alot of people say it is good and don't have problems with them. They are going to support bitcoin cash now so that is a plus for them.

[eternalgloom]

Coinbase is one of the huge exchange sites right now in the market and they are supporting a million people. that would be their flaws i guess they would only support which for them they can benefit a lot jsut sayin tho

They may be one of the biggest, but that's not an excuse to lock customers funds or not answer support tickets.
I've heard multiple stories of people's accounts being locked or people not receiving funds.

There are enough other exchanges with far better reputations than Coinbase.

[maeusi]

You are absolutely correct.  I lost my phone and now I cannot access my account, and Coinbase could care less.  Looks like I'm going to lose my coins.   Leave this exchange before you lose your coins.

LOL! I thought this was just us. The miss broke her phone in a non repairable way some time ago, she has essentially been unable to access or use her account since then. What compounds the epicness of the situation is the fact she's holding 30ish dollar ETH because of this. We can't even remember how many she purchased; she was switching some Coinbase USD to btc and brought a few with the extra money on the account. So every time ETH goes up, I get sad, then I remember we will access it one day.

Ok, i need an education, how does breaking your phone make it impossible to access your account? I assume it's die to the 2fa, how is getting the 2fa code not possible without your phone?

I just had a service issue with Coinbase on July 29th. I requested service, so they temporarily locked my account. I was shocked. The issues wasnt even a susoected compromise or hack. And the fact that i need to get my BTC out of Coinbase before August 1st made this a very tense situation for me. They wete in immediate email contact with me, unlocked my account on the 31st and i was able to get my Bitcoin out (so as to collect Bitcoin cash elsewhere) easily that same day.

If there is a risk with using 2fa...why should we use it at all?!

Broken phone needn't lead to coin loss, I think. Did you try to login at coinbase.com instead of app? Or are you also locked at their server?

I also had a transaction that looked fullfilled but never appeared to balance. But I think, it was senders fault. Think he returned somehow the BTC because also another wallet did not provide the amount from the same sender.
Coinbase answered me and asked me to provide more info. But it was a quite little amount and I didn't investigate further.
But with one LTC, you should write to support again and again until they will answer. Maybe they are still busy with BCH.