Coinbase falling apart!? stay away!

Adobe
tailcaller

Go to company page Adobe

tailcaller
Dec 26, 2017 30 Comments

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?

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TOP 30 Comments
  • Verathon / Eng
    naw

    Verathon Eng

    BIO
    ๐Ÿ’… Seattle
    naw
    If these problems were as rampant as people make them sound coinbase would not be in business.
    Dec 26, 2017 2
    • Adobe
      tailcaller

      Go to company page Adobe

      tailcaller
      OP
      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.
      Dec 26, 2017
    • Verathon / Eng
      naw

      Verathon Eng

      BIO
      ๐Ÿ’… Seattle
      naw
      Fair point
      Dec 26, 2017
  • Uber
    hag

    Go to company page Uber

    hag
    So you mean you want a bank ๐Ÿ˜. Canโ€™t wait till this bitcoin bullshit comes crashing down on all
    Dec 26, 2017 2
  • Snapchat / Eng
    SomeEng

    Go to company page Snapchat Eng

    PRE
    PepsiCo
    BIO
    I'm Dic.
    SomeEng
    I've had a pending LTC transaction in Coinbase since 12/18. My bank was charged 12/20.
    Dec 26, 2017 1
    • Google / Eng
      amaze

      Go to company page Google Eng

      PRE
      Microsoft
      BIO
      12 yrs engineer in tech
      amaze
      that is expected. it takes 7-10 days to arrive. coinbase website actually tells u when they will arrive
      Dec 26, 2017
  • Theyโ€™re working on handling unprecedented growth... if you donโ€™t like it, letโ€™s see you make a better competitor. Do it better. Try handling more than triple your best case projections of user growth.
    Dec 26, 2017 0
  • Starkey / Eng
    leIH88

    Go to company page Starkey Eng

    leIH88
    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 itโ€™s been flawless.
    Dec 26, 2017 0