Help Please - Coinbase

[cryptonewbie77]

Hi there,

My first post and a newbie to crypto.

I am a UK resident and set up a Coinbase account a couple of weeks ago. I transferred money via my bank account and went thru the checks and everything seemed to be authorised. I managed to test a withdrawal from Coinbase and it reached my UK bank account pretty much straight away. I them bought a bunch of different currencies with the majority being Bitcoin.

The problem is that it will not let me sell any crypto (i didnt plan to sell but wanted to check the process so tested it). "user is unable to sell" comes up. I have contacted support and have posted their response below which  makes no sense to me as a) if didn't do anything via paypal and b) there is an article on the coinbase site in 2018 saying that you can buy and sell in GBP now. so obviously i am now panicking thinking i have put money into a black hole that i cant get out again.

any advice GREATLY appreciated.




Thank you for contacting Coinbase Support about your account. You have access to the following services:

Credit Card crypto buys
Debit Card crypto buys
Crypto convert (convert one crypto into another)
Send crypto to a wallet outside of Coinbase (for more information, see this help centre article)
At this time, you aren't currently eligible to receive the following services on your account:

Bank Account Deposits and Withdrawals
Crypto sells
This means that you're currently unable to sell your crypto for GBP or other fiat currency on Coinbase. We're working to enable the ability to sell crypto for fiat into your PayPal account and will contact you again in the next few weeks once that service is available to you.

Sincerely,
Coinbase Support[/font][/font][/b]

[joniboini]

You probably need to ask them more details about that, especially if you don't use any Paypal services. While I never heard a case like this it is possible that they did not classify your bank detail correctly. I suggest you contact the support and make your case as clear as possible, there's no other way.

[pawanjain]

This seems to be weird. Well I have one good news and one bad news for you. The good news being that

You have access to the following services:

Credit Card crypto buys
Debit Card crypto buys
Crypto convert (convert one crypto into another)
Send crypto to a wallet outside of Coinbase (for more information, see this help centre article)

Even if you don't get the option to withdraw to your bank account, you can send the cryptocurrencies to another platform which allows withdrawals to your bank account and then proceed with the withdrawal.

The bad news being that

At this time, you aren't currently eligible to receive the following services on your account:

Bank Account Deposits and Withdrawals
Crypto sells
This means that you're currently unable to sell your crypto for GBP or other fiat currency on Coinbase. We're working to enable the ability to sell crypto for fiat into your PayPal account and will contact you again in the next few weeks once that service is available to you.

You will have to contact the Coinbase support and go through the hassle of enabling bank account deposits/withdrawals.
For better assistance try posting your issue on their social media pages and tagging them.

Coinbase Social media pages :
https://twitter.com/coinbase
https://www.facebook.com/Coinbase

[Oshosondy]

Is there no good exchange you can send your bitcoin to for withdrawal other thank coinbase, you will need to do that, there are many exchanges that will allow to deposite and withdraw. Have you tried binance, binance can just make it easy for you rather than coinbase, send all your bitcoin to binance will be good. But with the coinbase customer care report, you can just wait for the few weeks and continue to disturb them about it, it will still be enabled, your account is just under review.

[Yogee]

....The problem is that it will not let me sell any crypto (i didnt plan to sell but wanted to check the process so tested it). "user is unable to sell" comes up. I have contacted support and have posted their response below which  makes no sense to me as a) if didn't do anything via paypal and b) there is an article on the coinbase site in 2018 saying that you can buy and sell in GBP now.

Can you share the link of that 2018 article? All I can see is this

- more details at https://help.coinbase.com/en/coinbase/getting-started/adding-a-payment-method/payment-methods-for-uk-customers

so obviously i am now panicking thinking i have put money into a black hole that i cant get out again.

Why panic? Is your account suspended that you can't withdraw your crypto purchases out of Coinbase?
If that is not the case then you can move them to exchanges that supports GBP like Binance https://www.binance.com/en/support/articles/0c654f8a66c843869e05309948b69f3a-Binance-Adds-Multiple-GBP-Trading-Pairs

There is a wallet called Abra that supports GBP but I'm not sure if conversion of BTC to GBP is still allowed. I also found an article that say so but that was also in 2018. Perhaps it's a consequence of UK pulling out of EU? It's the SEPA that allowed the selling for GBP in the first place.

[cryptonewbie77]

thanks everyone for your advice on this. hugely valued.

the article i saw was here -
https://blog.coinbase.com/gbp-rollout-complete-for-all-uk-customers-e939bb347bb1

[Yogee]

....the article i saw was here -
https://blog.coinbase.com/gbp-rollout-complete-for-all-uk-customers-e939bb347bb1

Thanks for sharing. You should point this out in Coinbase support and ask them to take it down or update it to avoid future misunderstanding.

The article I mentioned about Abra is also September 2018 but that's from another site. Abra support must have done the the right thing taking down their own previous blog.