Coinbase, Inc
Consumer Complaints
There are over 2974 complaints on file for Coinbase, Inc. Dated between 2019-11-25 and 2014-09-10.
Complaints Page 71
2018-01-06
Manhattan, NY
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-01-06
Hoffman Est, IL
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-01-06
Rockaway Beach, NY
Managing an account
Checking or savings account: Other banking product or service
Deposits and withdrawals
Complaint: User email XXXXXXXXXXXX on XX/XX/XXXX I withdrew {$1900.00} from my coinbase XXXX account that was supposed to be deposited into my XXXX XXXX account ending in XXXX via Wire the reference code to that transaction is XXXX I never received my money and it has been 24 days coinbase website states their service assures that a wire takes no longer than 10 business days. I contacted my bank thinking maybe my bank rejected the deposit and they told me there is no record of my money being into contact with them. On XX/XX/XXXX I wrote coinbase support a email XXXXXXXXXXXX they told me it probably still pending. So on XX/XX/XXXX I contacted coinbase through their customer service phone number XXXX ( XXXX ) XXXX the representative told me the transaction says complete and I should have my money. After that she says she will make a complaint to the transaction escalation department and that they will be getting in contact with me through email. It is now XX/XX/XXXX and I have yet to hear from them. I still have {$2000.00} on their account and I am scared to withdraw with the fear of the same situation happening. I made withdrawals before with success never had a problem with coinbase until now. I am uploading a picture of the transaction with coinbase dated XX/XX/XXXX and my bank statement from XXXX to XX/XX/XXXX that proves there is no wire from coinbase
Company Response: Closed with explanation
2018-01-05
Kendall, FL
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-01-05
Key Biscayne, FL
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-01-05
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I signed up with Coinbase.com in order to deal in cryptocurrency, but have been seriously let down by their service, with no ability to withdraw my funds and no lucid support beyond irrelevant auto-responses. There is no number to ring and, as far as I am concerned, all of my attempts to contact them have been ignored, so their support is, effectively, non-existent.
I 've done some investigation into customer reviews here and on other websites and my case is apparently only one of many.
Currently I have XXXX on account with them that I have repeatedly been trying to withdraw since XX/XX/XXXX with no successful conclusion.
Their process requires the user to " verify '' their bank account by sending a small XXXX payment with specific details they include to facilitate this clearance. I have done this twice at some additional expense to myself and can see these transactions have been received by coinbase, but the withdrawal procedure keeps asking me to do this - or to state I have already done so. Then I get a message saying there are delays and to wait 1 or 2 days. I have been visiting their website every day since and re-trying this procedure, to no avail.
The company seems to have no difficulty in taking money from customers who have placed their trust in them My own view is that if they are unable to process client payments in a timely manner then they should temporarily suspend new members from joining until they can sort things out. Other users are pleading for them to sort out clients with larger investments in favour of small investors.
I appreciate that there was a sudden dip in cryptocurrency, which may have led to a market panic on the XX/XX/XXXX when XXXX co-founder announced that bitcoin is " useless '' and I watched all 4 currencies ( Bitcoin, Bitcoin Cash, Ethereum & Litecoin ) plummet in value. Indeed I lost about 100 myself.
I had initially invested XXXX with Coinbase and am trying to cut my losses and recover my funds.
If I was certain I could deal with Coinbase effectively I would still like to trade using their platform, but I am growing suspicious about relying on them to return my funds when I wish to withdraw money.
I expect short delays, perhaps 24 hours till banks are open, or 48 hours at weekends, perhaps even longer during public holidays, however this has been an excessive amount of time now - and, as I said, there are innumerable other clients posting negative reviews about this US company.
It is already suspicious that they openly use an XXXX XXXX, but the international community will associate this type of bad practice with the United States, so we are angry that such a company can be allowed to treat us so badly.
This type of bad business is also adversely affecting the entire cryptocurrency market as people are losing faith fast. I may only have had a total of XXXX involved, but there are other users who have invested in the tens of thousands and one individual who got some bitcoins for his daughter - who was subsequently unable to cash in her present for XXXX as planned.
The situation is outrageous. I urge you to please search out other customer reviews and bring these people to task as quickly as possible before any more people lose money.
Here are two I could find.
https : XXXX http : XXXX
Company Response: Closed with explanation
2018-01-05
Copper Center, AK
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase XX/XX/XXXX : Coinbase deactivated my Coinbase wallet citing eligibility restrictions ( they think I live in Wyoming, but I live in Alaska ).
XX/XX/XXXX : Coinbase locked my account. I have no access to my account.
XX/XX/XXXX to XX/XX/XXXX : Repeated attempts to inquire about getting my money out of my account. Coinbase responds with steps to remove my money, yet ignores the fact that I cant access my LOCKED account in order to follow their steps.
Case ID : XXXX Case ID : XXXX Case ID : XXXX Case ID : XXXX Coinbase has my money, wont allow me access to my account to retrieve my money and continues to tell me to access my account, remove my money and close my account .... but they wont give me access to my account in order to follow their outlined steps.
Please help.
Company Response: Closed with explanation
2018-01-05
Bayside, NY
Fraud or scam
Money transfer, virtual currency, or money service: Foreign currency exchange
Company Response: Closed with explanation
2018-01-05
Nyc, NY
Fraud or scam
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Hello,
On XX/XX/XXXX, I sent a wire transfer to Coinbase to the amount of $XXXX. A day later, Coinbase responded by saying the name of the wire did not match my account information, and thus they needed to reverse the wire. That email was sent on the XX/XX/XXXX, and they confirmed that the wire would be reversed in roughly 7 business days. It has now been 16 days since that email, and the funds have not shown up in our account. We have tried contacting support multiple times, and we have supplied them with relevant information regarding the wire.Warm Regards,XXXX
Company Response: Closed with explanation
2018-01-05
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: My Coinbase account is restricted due to an error. It says I 'm living in a prohibited country, but I 'm not. I have around 50.000 on my Coinbase account and right now I do n't have access to it.
I contacted Coinbase so many times without any result. I got them on the line 1 time and they opened a ticket for me to solve the issue. the ticket was created on XXXX/XXXX/2017 with number XXXX But still no answer.
I really need access to my money. Even if they do n't open my account, I would like to have a refund of my money on my account and my coins should be send to my wallet.
I hope you can help me with this issue. I ca n't sleep for days because of this. This was my whole life savings.
Best regards
Company Response: Closed with explanation
2018-01-05
San Gabriel, CA
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Transaction initiated on XX/XX/XXXXXXXX in the amount of {$3700.00} from Coin Base to XXXX account, Still in pending status, this should have taken about 30 minutes and now it is 36 hours. Contacted support and got no response. This may be fraudulent.
Company Response: Closed with explanation
2018-01-05
Liverpool, TX
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XXXX XXXX, I purchased XXXX BTC for {$700.00} plus {$28.00} in fees from Coinbase , Inc . The fees were due to the use of a credit card for the purchase. The purpose of using a credit card was the instant purchase - bank purchases take 5-7 business days. The purchase was confirmed, with reference XXXX. The BTC did not instantly arrive in my account. The day was a high volume trade day, and Coinbase , Inc. struggled to stay live, with periodic outages during the day. When the instant purchase still had not cleared on XXXX XXXX, I contacted Coinbase - the transaction showed as " Pending '' online. I requested that the credit card fees be waived, as the " instant '' purchase was no longer instant. I again contacted Coinbase on XXXX XXXX, as the transaction was still marked as " Pending. '' On XXXX XXXX I received an email from XXXX, replying from XXXXXXXXXXXX, informing me he referred the matter to a specialist who would " follow up with [ me ] as soon as [ they ] have an update. '' Two days later, on XXXX XXXX, I again wrote to follow up, having received no response. I again wrote to Coinbase on XXXX and XXXX XXXX, following up on this purchase, which still showed as " Pending. '' Today, on XXXX XXXX, I finally received a response from Coinbase , Inc . They cancelled my purchase, writing, " When we attempted to process this transaction it was canceled by your bank. If your payment method was charged, you will receive a full refund. '' This, it turns out, is patently false. I have contacted my bank and they have no record of any attempted transaction for the amount in question. They have the credit card transaction from earlier that day for the amount of {$1200.00}, and subsequent transactions from XXXX, XXXX, XXXX ( two ), and XXXX XXXX as well as XXXX XXXX. There is no issue with my bank or the card. Coinbase did not process the instant payment for a transaction they confirmed.
Since the fault is not with my bank or method of payment, I expect Coinbase to honor the purchase of XXXX BTC for {$700.00}, and to waive the {$28.00} fee. As noted above, Coinbase experienced multiple service outages on XXXX XXXX, and I am in disbelief that they wish to blame an external party rather than accept responsibility for their insufficient transaction capacity. Many people attempted transactions that were not processed or confirmed - while that is disappointing, such instances differ from this one, in which I had a confirmed transaction at a time in which Coinbase 's system was functioning.
Company Response: Closed with explanation
2018-01-05
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have sold crypto-currencies on XXXX ( trading arm of CoinBase ) and I currently have about 1,000,000 EUR of fund. Unfortunately, it is only allowed to withdraw XXXX EUR a day.
The company has a process for increasing this amount and promise to come back to his customer within 10 days. However, after a month, I still do not have any answer.
I tried to contact them via their online ticket service but I received no answer.
I tried calling them as well. I got connected to a representative who acknowledged the amount of fund on the account but then put me on hold and hung on me. I tried calling again but I never managed to get any representative again.
At this point, they are holding my fund without my consent.
Company Response: Closed with explanation
2018-01-05
KY
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: On XX/XX/XXXX I sent a {$70000.00} wire to Coinbase including only the exact information they required ( without any extraneous info ) to credit my account on Coinbase.
As of XX/XX/XXXX ( today ), SIXTEEN days later, my wire transfer to Coinbase is STILL not there. Although Coinbase claimed next day availability ( on their website ) for wire transfers as of XX/XX/XXXX.
I filed an online complaint through XX/XX/XXXX/Coinbase after about a week, as well as ~ 2 weeks later .... and then called and even had that escalated to an upper tier, and the response I received was to stop calling because it delays the process ( see attached documentation.
How much longer could this possibly take, the one day turnaround has been more than 2 weeks? I have missed out on huge possibilities because of their promises.
I needed the money I sent to Coinbase so I could buy Bitcoin instantly at {$12000.00} and now it has reached over {$16000.00} ( who knows where I will even be able to buy it back in at this point ) ....
I believe Coinbase has done this deliberately something fishy is going on here.
Company Response: Closed with explanation
2018-01-05
Chester, NY
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-01-05
Chicago, IL
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I have been locked out of my Coinbase.com account pending id verification, which I have submitted numerous times incidentally, since XX/XX/XXXX without even a peep of support follow up from Coinbase. They have never replied to any support request I have submitted in spite of the fact that I deposited money when I originally opened the account.
Company Response: Closed with explanation
2018-01-05
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XXXX, XXXX on the XX/XX/XXXX Hello, It 's been weeks that I would like to log in to my account at : https : //support.coinbase.com I received a response on XX/XX/XXXX and answered XX/XX/XXXX to the question asked may then nothing not answer always a machine that responds no e-mail address! no phone number! ( Anyway I do not speak English! ) I would like to sell my Bitcoins and get my MONEY back.
Thank you for your help I created an account on XX/XX/XXXX for the amount of XXXX EUR on the website : https : //www.coinbase.com I was in XXXX but I do not live there, I travel by bike around the world may have a tax address in XXXX my country, The XXXX I have unfortunately broken my XXXX XXXX is also my XXXX XXXX of the company XXXX XXXX number : XXXXXXXX XXXX XXXX XXXX XXXX.
Then I could no longer tank the XXXX to connect!
The procedure to register my new number here in XXXX : XXXX XXXX XXXX.
DO NOT WALK he writes : '' The phone number is invalid '' I requested the reset of my account Here help me recovered my Bitcoins my money!!!
( This and a translation of XXXX XXXX )
Company Response: Closed with explanation
2018-01-05
San Clemente, CA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-01-04
WV
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I purchased litecoin using the coinbase website. Since I wanted the funds available immediately I used a credit card and paid a higher fee. I was using the money to invest in TRX, but when I tried to transfer the funds coinbase put a hold on my money. This is after 2 factor authentication to login, credit card authentication, bank account authentication, and identity authentication. Additionally, I have used this site before to do this exact transaction without issues so I had no reason to think they would hold my funds when they website clearly states they will be available immediately.
Company Response: Closed with explanation
2018-01-04
MD
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hello, I have 2 wire transfer withdraws that have been initiated through a cryptocurrency company called Coinbase in which i sold Bitcoin through them at market price to deposit in my checking account. Both of these wire transfers withdraws were initiated XX/XX/XXXX and show completed XX/XX/XXXX on their website. However both of these wire transfers have yet to be posted to my verified XXXX checking account. It has been 15 business days, way too long, even with the 5 business day delay for wire transfers they state on their website. Keep in mind they also charged {$25.00} dollars each for wire withdraws which have not been processed in a timely matter. I already have a support ticket that has been open for over 2 weeks thate has yet to be resolved, Case ID : XXXX. One wire transfer was for XXXX Bitcoin ( BTC ) for {$220.00} that shows completed on XX/XX/XXXX, reference code XXXX. The other was for XXXX Bitcoin ( BTC ) for {$240.00} that shows completed on XX/XX/XXXX, reference code XXXX.
My Email for reference is XXXX
Company Response: Closed with explanation
2018-01-04
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Account set up with Coinbase - money taken very swiftly from a debit card.
As soon as I wanted to cash out and close my account I have had to authenticate my account using a SEPA transfer of XXXX Euros.
However even though they have sent an automated email to say they have received my deposit it is still not allowing me to withdraw funds and keep wanting me to authenticate my account.
In total I have XXXX sitting in account which looks like I might not get back. Thank heaven I did not put more in It seems that there is no response for emails, no telephone number and no way of contacting these people.
Company Response: Closed with explanation
2018-01-04
IN
Problem with a purchase shown on your statement
Credit card or prepaid card: General-purpose credit card or charge card
Card was charged for something you did not purchase with the card
Complaint: Good evening, I recently started trading crypto currency through Coinbase. I bought and sold a few shares and recently decided to cash out my account due to Coinbase issues Id heard about.
They put these transactions through as debits vs. credits, over drafting the account tied to my debit card. Amounts of {$450.00} on XX/XX/XXXX and {$430.00} on XX/XX/XXXX.
Ive tried emailing/calling/XXXX and anything else I can think of. This seems to be a very common problem if you dig deeper into this company.
Company Response: Closed with explanation
2018-01-04
Arco, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: My bank confirmed that CoinBase withdrew funds from my bank account via wire transaction. The deposit has not shown up on my account and is 3 week late from the stated deposit date and 4 weeks late from transaction date. CoinBase has told me multiple times that a wire transaction may take 3-10 days to process but a month is too long and worrying. My bank also stated it was a transaction and not a transfer - Trans. Description : XXXX. My CoinBase Reference code : XXXX for the transaction.
Date : XXXX/XXXX/XXXX @ XXXX XXXX PST Amount XXXX ETH @ {$460.00} per ETH.
Fee {$7.00} Subtotal {$490.00} Total {$500.00}.
I sent in 3 emails, support requests and feedback but have not received anything but automated responses for the last 2 weeks. I have also called and have not been able to resolve the problem through their customer support.
Company Response: Closed with explanation
2018-01-04
Chicago, IL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: *****I opened a support ticket with Coinbase.com on XXXX XXXX with the following message:"On XXXX XXXX, I made three purchases for 22 litecoins, using the coinbase mobile app. For each purchase, I was prompted with a successful purchase complete prompt.Subsequently, I received 3 emails, one for a successful purchase and 2 stating that my purchase could not be made.My last purchase that went through and is still in a "pending" state, not "cancelled" state, has not been processed, and the transaction has exceeded the expected clearing time of XXXX XXXX.With that in mind, this is putting me in a very bad hedge position, as I can't sell those coins as I wanted to.I'm not sure what kind of hoopla is going on over there, but if those coins don't clear in the next day or so, then I'm going to reach out directly to your regulator, the CFTC and let them know that you're not abiding to contractual agreements, which your data repository will evidence and prove.If you take this seriously, then please call me immediately at (XXXX)XXXX-XXXXAll the best,XXXX"*****To which I received the following response back from Coinbase on XXXX XXXX:"Hello XXXX,I really do apologize about the delayed response. We are swamped. Pertaining to the pending transaction I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update.Thank you for your patience."*****I have not received a reply back, after 3 weeks. If you ask me this is a lawsuit. Please escalate this issue, as this company is involved in illegal practices by way of not fulfilling orders and not allowing users to verify identification, which causes them to pay exorbitant amounts of fees.Please shut this company down. I wish I would have known that this is how they treat customers and scam them.
Company Response: Closed with explanation
2018-01-04
Money was not available when promised
Money transfer, virtual currency, or money service: International money transfer
Complaint: The XX/XX/XXXX I initiated a SEPA transfer of XXXX euro to my XXXX bank account. The same evening the transfer was marked as completed and I got a e-mail that I would see the money on my account the XX/XX/XXXX.
Until this day I have not seen my money and all attempts to contact CoinBase has failed.
It seems that I 'm not the only one who have n't received the money from the XX/XX/XXXX. And it 's unacceptable to not give your clients any information whatsoever.
Company Response: Closed with explanation