Adobetailcaller

Coinbase falling apart!? stay away!

This is just a summary of the many similar stories people are sharing on reddit right now: Buys taking 10+ days instead of promised 3-5 even though money left your bank on day 1, people with withdrawals pending for months unable to collect profits, people suddenly locked out of their accounts for weeks, accounts becoming suddenly unverified with coins stuck you can't sell or withdraw. Automated ID verification that has limited options and fails randomly with no human intervention. Transactions out of their system taking many hours before even hitting the blockchain. Customer support is not responding for days except for Olga on reddit manually patching the DB it seems. The helpdesk has 2h wait times only to respond with "a specialist will look into it" and then weeks go by. There is no message or status update on their website to inform people about their money or what service level to expect. All while their CEO is tweeting about how we should use blockchain for decentralized internet storage nonsense, ignoring the fact that his own system is on fire, happily collecting our money and then losing track of (some of) it. Regardless of the fees, don't use coinbase, at least not right now it's a big mess looking at all the topics popping up. https://www.reddit.com/r/CoinBase/ I don't have much tied up, can afford to lose it, but wish I'd checked reddit last week before buying in with this crappy service everyone seems to like to recommend. What's the experience like with Gemini, Paxful, cex.io any others supporting USD?

coinbase * r/CoinBase
coinbase * r/CoinBase
reddit
Bitcoin Exchange, Trading BTC USD, BTC EUR - CEX.IO
Bitcoin Exchange, Trading BTC USD, BTC EUR - CEX.IO
Cex
Add a comment
Verathon naw Dec 26, 2017

If these problems were as rampant as people make them sound coinbase would not be in business.

Adobe tailcaller OP Dec 26, 2017

As long as you don't interact with the system (all the hodlers) you won't notice issues. The problems started manifesting more recently so it might be too soon to gauge the size of the problem. A lot of it is due to their inability to scale the system and operations (support, transfers, withdrawals). They should act professionally and stop the influx of users and money until they stabilize and give customers with issues timelines to resolution.

Verathon naw Dec 26, 2017

Fair point

New
zOcY81 Dec 26, 2017

I've never had an issue. Use gdax if at all possible.

Adobe tailcaller OP Dec 26, 2017

Same system, same problems, mine is with their automated ID verification, I'm not the only one with funds tied up because of this. I just want my money back and move my business elsewhere. Seems like most issues were caused by interacting with their system in the past 2 weeks. It may have been fine before when you used it, it's definitely not right now given the flood of cries for help on reddit, twitter, facebook.

Starkey leIH88 Dec 26, 2017

It works for me. Consistently had zero issues. I use it to buy/sell BTC that I get in and out of poloniex for trading and it’s been flawless.

Intel Litecoin Dec 26, 2017

Zero issues here, but I would agree not to keep all your eggs in one basket. Using multiple exchanges to keep holdings may be a pain, but at least it’s also a hedge against potential hacks.

Uber hag Dec 26, 2017

So you mean you want a bank 😏. Can’t wait till this bitcoin bullshit comes crashing down on all

New
zOcY81 Dec 26, 2017

Fomo

Adobe tailcaller OP Dec 26, 2017

Haha, they do present themselves as a service with similar guarantees to banks.

Oath $n0wBunny Dec 26, 2017

I’ve had a BTC transaction pending in CoinBase since 12/20 will look for another solution in the future

Oath $n0wBunny Dec 28, 2017

The transaction went through today. Just took 8 days.

Snapchat SomeEng Dec 26, 2017

I've had a pending LTC transaction in Coinbase since 12/18. My bank was charged 12/20.

Google amaze Dec 26, 2017

that is expected. it takes 7-10 days to arrive. coinbase website actually tells u when they will arrive

LinkedIn jqTf51 Dec 26, 2017

Are sales and withdrawals working?

Noble Software Group LeoMessi Dec 26, 2017

I haven't had any issues.

Dropbox juicefun Dec 26, 2017

Mayhaps you could share you own experience a little more? The automated ID verification is where they take a photo of your license?