Ninjastic
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Re: Coinbase planning to close accounts of certain users on 9th April?
by
Smack That Ace
on 11/04/2023, 14:25:05 UTC
Quote from: Potato Chips on April 10, 2023, 10:41:52 AM
Quote from: Oshosondy on April 10, 2023, 08:43:35 AM
Quote from: Smack That Ace on April 10, 2023, 08:34:36 AM
I received their 2nd update early this morning. And as announced before, my account will be limited to a number of services and I can only use one service, sending and receiving. Although, I also rarely use Coinbase and have not been supported by them to use services like buying and selling before. If anyone is using Coinbase for the purpose of sending funds this shouldn't cause any harm, but I don't think many people will still be using it today.
That is not clear to me, what I saw is sending of funds, nothing like receiving,

Same thought, plus it would make sense if send-only accounts are not able to receive. This is because coinbase is disabling users access to their entire custodial services hence placing accounts on send-only means people would only be able to do one thing - take their funds out to effectively leave the exchange. However, seeing how there seems to be no restriction for you all, perhaps we need to watch this for a few more days as JeromeTrash pointed out.

For this, I'm hoping it would be similar to binance's withdraw only accounts. Users are able to send their funds out just fine but they wouldn't be able to view their deposit addresses to avoid unwanted incidents.

I just checked my account, and your suspicions are correct. They only allow me to send my BTC and do not allow me to receive BTC. That means they don't want us to use their services anymore, and we can just move all our assets to another wallet. Currently, wallets like coinbase and blockchain do not have too many users, and with this policy, they will lose all customers in the near future.