Post
Topic
Board Beginners & Help
Re: Some problematic things about Coinbase
by
Mashfiqun
on 21/11/2019, 18:58:59 UTC
Just a few things about using Coinbase.

1: Don't use Coinbase at all
How is this a few things lmao. You literally bashed and warned everyone to stop using Coinbase the very first moment you listed these few things of yours.


2: About the verification
It is recommended to not use your IDs to verify on any website. Same goes with Coinbase. Sharing your IDs could lead to an identity theft.
Yes, you don't need to use your ID. but you didn't really need to specify it to Coinbase. Literally everyone should avoid it at ANY site or exchange there is. As much as possible that is.


3: About transferring big amounts
Sometimes Coinbase assumes your account might have some unusual behavior. So it may interrupt any transaction and can even ask for confirming your identity.
Once I deposited $600+ there. When I tried to transfer the coins, they refused to process the transaction. They sent an email stating my transaction will be done in 72 hours automatically. I cancelled the transaction. But it went through when I tried to send the money from the Coinbase app. I don't know what was the difference there.

It does require KYC, so honestly not that surprising they wanted to check on your transaction and identity first. What I don't understand is, how did them stating that the transaction will be done in 72 hours become refusal to process the transaction? Did their site actually popped a message refusing your transaction? And then you suddenly received an email about it?

PS: I ain't defending coinbase or anything, just that OP's calls are a bit too vague and honestly, who doesn't know how these exchanges work.

Ah, maybe they are a little vague and maybe I misinterpreted my English. And about the last line, this is meant for newbies. And I can guarantee you that there's more people who don't know how these exchanges work than you think. I see them everywhere. I just wanted to share my thoughts alongside it.