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Author Topic: Is anyone else having a problem sending altcoins from Coinbase?  (Read 36 times)
Elliander
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December 14, 2017, 07:53:26 PM
 #1

I have been trying, for a few weeks, to send Litecoin and Ethereum from my Coinbase wallet to an external wallet, but Coinbase won't allow me to do so. No matter how much I send, it always says:

"Amount is below the minimum (0.00100000 LTC) required to send on-blockchain."

and

"Amount is below the minimum (0.00100000 LTC) required to send on-blockchain."

The amount I have been trying to send is way more than that minimum, and I always have plenty left over to cover fees, but all Coinbase will let me do is buy and sell. I can't actually use it. For starters, it makes no sense to impose arbitrary limits, but isn't it a bit... well... scammy to lock people out of using their cryptocurrency? I can't even exchange it for Bitcoin (which will send without any problem) because they don't allow buying one coin with the funds of another coin (which makes no sense either) so if I want to send anything my only option is to sell the coin I just bought, pay them yet another fee, then buy Bitcoin, and pay them another fee still, just to be able to send what I should have been able to send.

Of course, we contacted Coinbase support, but no response to that in over a week. Similarly, my business partner has been trying to have our business account setup to use our business name since they've had all our business documented and FEIN and business checking account setup for multiple years, but every time we ask them about about fixing that they just ignore us. Last try contacting them was a month ago, with no response.

So without the ability to use a coin, and without any responsiveness from coinbase, what can we do? Unfortunately, we haven't been able to find any exchange to switch to that will do business in Illinois, so we usually combined Coinbase with Shapeshift. Didn't expect this type of problem though.

Here's a screenshot of the most recent attempt as proof, with address censored out.

https://drive.google.com/open?id=19Tec5rMEx2d9e4_LkWNfq5ozh_OFoVqr

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December 14, 2017, 09:21:46 PM
 #2

The trade minimum is 1 $.
https://support.coinbase.com/customer/en/portal/articles/1404398-what-is-the-minimum-amount-of-digital-currency-that-i-can-purchase-
I think, also the withdrawals (transfer) minimums are set to 1 $. The picture shows, that you are under this minimum.

   

 
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Elliander
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December 14, 2017, 09:24:44 PM
 #3

um... what are you talking about?

I tried sending 0.16 LTC, which equals around $45 USD. Their minimuim is 0.001 LTC, which is equal to around $2.85.

Even when I tried sending more than one FULL Litecoin, the same error ALWAYS appears.

Additionally, that link you referred to has nothing to do with sending Litecoin. I have no trouble buying and selling on coinbase. This time I specifically purchased 0.16664102 LTC using funds from my USD wallet, and it was a complete success, but the trouble is SENDING altcoins to external wallet addresses. That I am unable to do because the system is flagging ALL transactions of any size as below the minimum.


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December 14, 2017, 09:28:40 PM
 #4

um... what are you talking about?

I tried sending 0.16 LTC, which equals around $45 USD. Their minimuim is 0.001 LTC, which is equal to around $2.85.

Even when I tried sending more than one FULL Litecoin, the same error ALWAYS appears.

Additionally, that link you referred to has nothing to do with sending Litecoin. I have no trouble buying and selling on coinbase. The trouble is SENDING altcoins to external wallet addresses. That I am unable to do because the system is flagging ALL transactions of any size is below the minimum.


No, your picture shows a total withdraw of 0.22 $, including network fee. The 0.16 LTC is shown as amount, that you have in your wallet.

   

 
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Elliander
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December 14, 2017, 09:39:32 PM
 #5

huh. I didn't notice that they put USD values beside coin values now. That's what was throwing me off. I'm used to only sending coin values, not seeing USD values as an option at all.

I was able to send the coin, but unlike sending bitcoin it wasn't broadcast to the network right away, so now I'm screwed because 5 minutes elapsed without it being broadcast and the transaction on shapeshift expired. So apparently it's not safe to use altcoins from coinbase at all.  

EDIT: yeah, 10 minutes later, the transaction doesn't show up on Blockcypher. Coinbase hasn't broadcast the transaction, so now it will take a few days to get the mess sorted out. When I send coin from my own wallet externally the transactions are instant, even if they don't confirm right away. Now at least I know that I have to send to an external wallet and pay transaction fees twice in order to exchange anything.

https://live.blockcypher.com/ltc/tx/b5c126b212ec670381e50d784571eede6883cf19d86b33d936f40701db8d37d7

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December 14, 2017, 09:52:01 PM
 #6

 I am afraid that this is the problem with online wallets, so many new people will be told to go to Coinbase and I must admit I have referred a few people this week. 

The problem with this for new people is that they are so used to the traditional banking ssystem and believe their funds are safe.

First step is getting people in but then after that it's trying to explain the pitfalls etc, many don't want to take the time, they just want to invest and get rich, the likes of Coinbase is great for new users but I think as a community we need to make sure that the new money is aware of
the situation.

What am I doing for this to be honest not a lot I work full time and each person I bring to the crypto world I try my best to explain things deeper but many not all but many just think it's a case of there's my $100 now where's my profit.

New money is good but I feel the understanding of crypto is lost with many of them, media is to blame also as they have no true understanding, rather a few so called "experts" will say their piece, but these folk are no longer relevant.

I think we as a community need to ensure that those we bring in are fully aware of crypto as a whole and that includes altcons and ICOs etc.





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December 15, 2017, 07:07:02 AM
 #7

huh. I didn't notice that they put USD values beside coin values now. That's what was throwing me off. I'm used to only sending coin values, not seeing USD values as an option at all.

I was able to send the coin, but unlike sending bitcoin it wasn't broadcast to the network right away, so now I'm screwed because 5 minutes elapsed without it being broadcast and the transaction on shapeshift expired. So apparently it's not safe to use altcoins from coinbase at all.  

EDIT: yeah, 10 minutes later, the transaction doesn't show up on Blockcypher. Coinbase hasn't broadcast the transaction, so now it will take a few days to get the mess sorted out. When I send coin from my own wallet externally the transactions are instant, even if they don't confirm right away. Now at least I know that I have to send to an external wallet and pay transaction fees twice in order to exchange anything.

https://live.blockcypher.com/ltc/tx/b5c126b212ec670381e50d784571eede6883cf19d86b33d936f40701db8d37d7
Your issue seems to be solved now, as you sent now 0.16 LTC (instead of 0.16$) and your given txid shows, that your transaction went through Smiley
You can add now the word "solved" to your thread.

   

 
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