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Author Topic: Is it normal for coinbase?  (Read 1390 times)
phuong
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May 12, 2014, 03:05:53 PM
 #21

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Rees replied:
Hi there,

I apologize for the confusion, and I'm sorry to hear that your purchase was cancelled. All risk analysis of purchases is performed by our self-learning risk-detection algorithm. Sometimes a bank transfer can be canceled if it hasn't yet identified your account as a trusted payment source. This aspect of the site is beyond our direct control and has nothing to do with factors such as market price. Because of its fluid nature, it is fairly impossible to predict how it will react on any given day.

Since we deal with Bitcoin (non-reversible transactions) being paid for by bank account transfers (potentially reversible transactions, even after the transfer is complete), Coinbase is constantly under attack by scammers attempting to defraud us of Bitcoin. As a result, we've been forced to implement these strict automated security measures. Please also note that Coinbase is not registered as an exchange or bank; we do NOT hold customer USD. All bank transfers are done via the ACH banking system, which takes 3-7 days to transfer money in either direction to/from your bank account.

While a further review has indicated we are unable to activate your account's ability to make purchase and sale orders at this time, please note that you may still use your hosted wallet to send and receive BTC on the bitcoin network.

If you have any further questions, please feel free to get back to me anytime on this matter and I'll be happy to help.
-Rees D. Sloan

Customer Support Specialist

Can anyone tell me what does it mean? Huh
blah blah blah.... GFY?
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May 12, 2014, 10:56:56 PM
 #22

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<snip>

While a further review has indicated we are unable to activate your account's ability to make purchase and sale orders at this time, please note that you may still use your hosted wallet to send and receive BTC on the bitcoin network.

<snip>

Basically, they checked it again and determined that your account really is high risk. You won't be able to buy (or sell, apparently) bitcoins with them for an indeterminate period of time, if ever (at least with that bank account), but you can still use the hosted wallet normally.

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