Notorious Coinbase holding my bitcoins in name of 'Review' | Be careful

[Kupid002]

Hi i'm new to the forum and have a noob question.

I have btc with coinbase, but all of the above sounds worrying. If i transfer it all to a hard wallet, where would i then proceed to sell once the time comes? I'm aware i can use P2P and the like, but for ease would the sensible option be selling it back to the exchange anyway?

So in essence, buy btc from coinbase > place btc on hard wallet > sell back to coinbase once the time comes?

Yes you can also use other exchange instead of converting it to Fiat currency you can use stable coins like USDT USDC and any other stable coins .

One of the example of the exchange that also have P2P trade is binance.Just make sure that the exchange you will use is supported in your country.

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[jostorres]

Well, that’s always the issue with centralized exchanges ; everything little move you make is a suspicious move to them and they will immediately restrict your account so that you’re not going to be able to make use of it. It’s best that you have made up your mind to stop making use of Coinbase from now on after the issue is sorted out.

I experienced a thing like this once and since then I have entirely stopped making use of centralized exchanges and I have decided to go for P2P trading and it has been working best for me, and the best part is that I am even selling for higher price than I do when I was making use of exchanges.

[larus]

Another proof that you should store your money outside exchanges. I prefer coinomi and ownr wallet

[Mike Mayor]

Hi i'm new to the forum and have a noob question.

I have btc with coinbase, but all of the above sounds worrying. If i transfer it all to a hard wallet, where would i then proceed to sell once the time comes? I'm aware i can use P2P and the like, but for ease would the sensible option be selling it back to the exchange anyway?

So in essence, buy btc from coinbase > place btc on hard wallet > sell back to coinbase once the time comes?

You don't have to use coinbase. There so many other exchanges. Get your bitcoin out of there and use another exchange.

Now you Have finally experienced and Learn the word"Not your Key,Not your Bitcoin" in which for many occasion people here Keep on Telling us Not to Leave our Crypto Inside exchange unless there is a Need for some reason.
And Yeah I remember that in 2017 Bull run there is a similar Scenario about Coinbase Holding the account for some review.
I'm trying not to think that this is With No Intention but my Malice tells me there is lol.
Anyway Please Update Us about what happen now since Bitcoin is still Bullish and you only Lose almost 2k of the Highest value last week.

i dont agree with this not your key not your bitcoin ! if the wallet provider get fee for that as im customer then customer is king,period !!
same way the bank can tell you not your bank building not your money lol:D

this is some utter nonsense not your keys not your bitcoin it sounds like i dont know what.,

You should learn how to speak English before vomiting this out. Please tell me how are you going to get your bitcoin back without the private key? They can tell you to piss off then what will you do?
The money in the bank isn't yours and can be seized at any time. Were you born yesterday?

"this is some utter nonsense" ok go get your bitcoins back without a privatekey. Goodluck.

Not only that then he puts the example of the bank and tries to downplay our argument when we know for a fact that banks can just freeze your account for no reason, we know that during times of great economic turmoil banks take holidays that last weeks or even months and then they limit your access to money that belongs to you and in some cases they even take money from the accounts of all their clients stealing from you and then try to rationalize it, so not your keys not your coins is as relevant today as when the phrase was first uttered.

Some people won't listen to reason or logic and feel they know better so I guess he knows better than us and he must be a genius.  The banking system still battles with fraud often so Idon't know what he is going on about. Yes the banks just use our money to further invest in other places and make a profit and then give us a tiny amount back and call it "interest".

[bonjouros]

This is what I really hate to centralized exchange or wallet as they are free to do whatever they like to our accounts without our permission first. They can easily freeze our money or assets easily if they think that we are doing something shady even if we're not.

You should consider it as your bad experience and never to make it again, no one can really help you here with regards to your problem as the coinbase team is your only hope in order to unfreeze your account so you can sell already your assets. But if anyone are experiencing the same also then it will be good if they can also share their experience via this thread so the other coinbase users will become aware to what is happening right now in coinbase.

[Traderbtcc]

I am with coinbase for several years. I am fully verified user. As we see BTC is now at ATH for this year, my plan was to sell the btc now and buy back later. Before doing that I was planning to bring some more BTC from other exchanges in coinbase and then sell all together.  After transfer is completed I was ready to sell.

But before that all on a sudden yesterday coinbase sent me this status " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status."

I am fully verified so, no idea why on earth they are doing this. I sent them email and got a copy past reply!  If you remember coinbase did similar kind of things on last bull run on 2017 when their webpage was just went down at the time when BTC was hitting $20k. I couldn't cash the opportunity back then because of this. Now in this bull-run they are doing so called 'Review' out of no where and hold my account. I can't buy/sell, or even transfer my btc to other exchange! No sure if coinbase is intentionally doing this during Bullrun!

I am fade-up with coinbase and will transfer all my balances to another exchange as soon as it is sorted. 

I just thought I will  make everyone aware of this so that you also don't fall for this crap at time when you need to sell/buy to grab the opportunity.

This looks really bad  , after transferring all your bitcoin they decided to lock your account, this is the main reason I always avoid using any third party site/app to store my bitcoin, if you used your private wallet to store your bitcoin you won't be in this mess right now, storing bitcoin on coinbase is "their hand in your pocket" kinda of scenario, they can steal your money or restrict your account if they want to I would advise you to move to non custodian wallets to enjoy freedom.

[cryptoboss2020]

I am with coinbase for several years. I am fully verified user. As we see BTC is now at ATH for this year, my plan was to sell the btc now and buy back later. Before doing that I was planning to bring some more BTC from other exchanges in coinbase and then sell all together.  After transfer is completed I was ready to sell.

But before that all on a sudden yesterday coinbase sent me this status " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status."

I am fully verified so, no idea why on earth they are doing this. I sent them email and got a copy past reply!  If you remember coinbase did similar kind of things on last bull run on 2017 when their webpage was just went down at the time when BTC was hitting $20k. I couldn't cash the opportunity back then because of this. Now in this bull-run they are doing so called 'Review' out of no where and hold my account. I can't buy/sell, or even transfer my btc to other exchange! No sure if coinbase is intentionally doing this during Bullrun!

I am fade-up with coinbase and will transfer all my balances to another exchange as soon as it is sorted.  

I just thought I will  make everyone aware of this so that you also don't fall for this crap at time when you need to sell/buy to grab the opportunity.

This looks really bad  , after transferring all your bitcoin they decided to lock your account, this is the main reason I always avoid using any third party site/app to store my bitcoin, if you used your private wallet to store your bitcoin you won't be in this mess right now, storing bitcoin on coinbase is "their hand in your pocket" kinda of scenario, they can steal your money or restrict your account if they want to I would advise you to move to non custodian wallets to enjoy freedom.

For every money there are receiver on the other side.


Anyways if some one owns money to me i prefer to visit his Home
If the owner not far away from my location.

Go when its Christmas time tell that he stole your christmas  
If you have Family bring with you show that your kids have no gifts this time
World works with one Simple rule!!
Eye for Eye live and let others to live!

Im Lucky I never got scammed like this so far im lucky
But yeah go visit the conebase owner home it works im sure he will just give you Back the money for his own peace of mind  
Becouse its little money money im sure for people like this.

[Silberman]

Hi i'm new to the forum and have a noob question.

I have btc with coinbase, but all of the above sounds worrying. If i transfer it all to a hard wallet, where would i then proceed to sell once the time comes? I'm aware i can use P2P and the like, but for ease would the sensible option be selling it back to the exchange anyway?

So in essence, buy btc from coinbase > place btc on hard wallet > sell back to coinbase once the time comes?

In theory you can use any exchange so if you feel uncomfortable using coinbase you can use another exchange, however at heart all centralized exchanges are the same and have similar policies and even if they do not then it is just a matter of time until they change their policies to match the market standards, also what you plan on doing could also be seen as suspicious for them, exchanges love people that leave their coins with them for the long term despite the risk that this constitutes to us, and if you have your coins with them only for long enough to make your transactions then most likely your account will be flagged as suspicious as well.

[btcwish1]

I just wanted to give an update about the situation. They finished their so called 'review' end of last year and unlocked my account.  There was no reason given as to why it went to review and no explanation what so ever.

As soon as my account was unlocked, I removed 99% of my holding from coinbase to a different wallet ( I am very glad that I did).  I left just a bit of ETH just in case I need to pay for some other projects etc.

Since ETH touched all time high today, I was thinking of selling them. Guess what??  Out of no where, I got an email today saying my account is again so called 'under review'.  I didn't even log in to coinbase for last couple of weeks and also didn't log in today. So,it can't be justified about suspicious login, or different IP, different device or whatever. I received the email this morning out of no where. I then logged in and saw that yes my account is 'Under review'.

This can't be a coincidence every single time during All time High , be it BTC or ETH!

[NotFuzzyWarm]

This can't be a coincidence every single time during All time High , be it BTC or ETH!

Yes it can. I've never had any issues using Coinbase (though I use Pro) regardless of spiking exchange rates. It's slowed down several times but that's it. Been using them since 2014 and been through several price spikes with no problems.

[Twentyonepaylots]

One thing that caught my attention was the fact that you used non-custodial or transacted with such tyoes of wallets. This will definitely put you in a pickle because most systems tag them as fraudulent or illegal, which will then be grounds to have your wallet be suspended and checked. Good thing they finished up with their review just on time for you to enjoy a higher bitcoin payout.

[cryptoboss2020]

Dont make things complecated!
If they dont pay up money they are Criminals
Police and Court Deal with Criminals

Simple!