Coinbase

This website is legal but you could get your hard-earned money TRAPPED because they wouldn't pass your ID verification no matter how many times you've gone through it, this is to stop you from taking money out of your account. Today they wrote me another email to do the verification for the 5th time and it took them a MONTH to write this.

They place ridiculously long holds on purchases. If you ever contact customer support, they only reply with policy quotes, they never actually answer questions. Coinbase is just a terrible service.

I would recommend Coinbase Pro as the best exchange for cryptocurrencies. However, if you ever have a problem and you want to contact support, good luck, you're going to need it. I just got off the phone after over four hours. I spoke to four "support specialists", the third one hung up on me, after I finally figured out how to fix my problem. She was going to send me instructions on how to do something to my Google Authenticator (she never did). The problem turned out to be that I did not have the auto time and the time zone setting turned on in my phone settings. I told her that I had found those instructions and requested that she remain on the phone with me, she instead hung up. I have had problems in the past and even their higher-up email support was unable to resolve my issues. Three problems with their platform and support was not aware of how things work.

DO NOT USE Coinbase. I deposited my money in a Coinbase account. After I made the deposit, I was informed that I would not be able to access my money for fifteen days. They say this is to prevent fraud.

After the fifteen day waiting period, I checked my account to find my money was gone. Coinbase offers no explanation for this no would they take any steps to correct the problem. The only reply I received was one informing me that the case was closed and that no further action would be taken.

When I tried again to get any answers the reply was the same.

This is the most blatantly crooked organization on the mainstream web if you ask me. How they can commit thievery and still call themselves legitimate is beyond me. Next time I'll take my chances on the dark web.

I have to say, I won't use these folks ever again. I have been loyal to Coinbase for 2 plus years. All that I can say is, NEVER do an automatic Reoccurring Transfer.

Coinbase charged me 100 bucks more than the spot price had been all day for a Reoccurring Transfer. Then, after further review, this had happened on all 6 of the same type of transactions. I guess that they think that you won't really examine the spot price paid on these type of transactions.

I inquired, and all that I got back was a standard communication stating that prices fluctuate and that there must have been many buyers at that moment.

Well, you can research the price on a given day down to the minute on their own screen of history for the last 24 hours. The price charged was nowhere near the spot price for that exact minute. I have the screenshots saved to prove it.

And, they want to join the banking industry, and be part of everyday commerce? Think of how they can screw each of us further on even the purchase of a cup of coffee.

While they were cleared of wrongdoing, insider trading, on OX when they added it to their range of coins, I don't see how. It fluctuated from up 300 percent plus to dropping like a rock in mere minutes.

Ugh. Disappointed. Coinbase is fairly easy to use, that is why I have hung in there. Done now. Now, just trying to get the last of my money out. AGAIN, they have it, payment cleared, just holding and using my cash.

Hasta luego, Baby!

Stay away from the Mother of all the Frauds!

They made a very comfortable UI to attract more users, but as you use it and put your money inside this platform, your account is frozen and all your bitcoins are gone!

Yes, Bernie Armstrong is really a true artist of the scam.

Coinbase took my money and will not let me withdraw. I deposited several thousand dollars to Coinbase. They confirmed this deposit with an email and I can see the money when I am logged in. I was able to use this money to buy Bitcoin and pay their (very high) fees. However, when I wanted to withdraw my Bitcoin, they hit with me a long list of verification processes. Even after completing them, my Bitcoin is still frozen. Customer Service will not answer the phone for withdrawal problems "at this time." So, my money is gone. Buyer beware!

Keep your money. Coinbase is not where you want to invest or trust. They can and will pull money from your other accounts for no reason and if you complain? They lock you out. Money and account gone. "Coinwaste."

As the saying goes, I wish I could give less than one star. I've been totally screwed by Coinbase - twice. Once when they shut down BCH trading for weeks without notice and I watched the value of my coin plunge with no ability to sell it. A day or two is one thing. But weeks without notice while it is crashing is an entirely different animal.

A second butt mongering (still unresolved) is being unable to move my coin out of the vault. During months of trying, I get an error message every time I try to move ETH out of my vault. I've tried calling, emailing, "chatting" (what total BS, they have no chat just a search result auto-reply) over a period of months. No one ever answers the phone ("we are not able to support this or that particular issue by phone at this time"), and no one ever replies to email. They get your money and totally ignore you if you have an issue.

It is an unbelievable scam, and I am amazed they do not fall under some regulatory agency that would have shut them down by now. I would not go near them with a 100-foot pole and I am on a mission now to spread the word on Coinbase as far and wide as I can online and on social media. They think they have you by the balls being unable to reach them.

January 2019 - ha, I forgot I wrote this review (old review).

Coinbase has made changes. Some improvement, some not. But they are (in my honest opinion) one of the less cluttered and easy sites to use. Limited offerings (not a real exchange), but facilitates a purchase of crypto with fiat.

REMEMBER, these are ALL rehypothecating agencies.

None of your funds/cryptos are truly safe from scam, "hack" or whatever the reason will be - you use the site to purchase, and TAKE IT OUT. If you don't own your keys (public number, private number - both), you don't own the crypto.

When I originally set up an account, I was never informed that I would have to jump through hoops just to withdraw my money. Also, they never informed me that I need to give them my bank ID and password. No way! Here's a copy of the email they sent me during my 6 months of trying to get my money. Their response:

It seems you are not able to access your account, because you are not receiving the 2FA verification code, since you have an old phone number under your account. Therefore, in order to be able to access your account and withdraw your balance, you must update the phone number to access your account through the account recovery process.

Here are the steps to follow:

1. Login normally to your Coinbase account with your username and password

2. Once you have logged in successfully with your login credentials, click on the link "Code not working?"

3. If you do not receive this 2-step prompt when logging in, try clearing your browser cache and/or following the above steps in your browser's "private" or "Incognito" mode.

4. Click on "I no longer own the phone number ending in +1 xxx xxx 1234" (as an example)

5. You will be prompted to start an Account Recovery process for your security codes.

Please note that, while the pictures of the front and back of your ID can be uploaded from files, the photo of your face will need to be taken live by webcam. This process must be completed through the website and cannot be completed using the mobile app.

This process may take 48-72 hours to complete. This process will only work if you are using SMS for your security codes - not an app. You will receive a confirmation that the process has been completed. Then you will start receiving your codes on your new phone. If you do not receive your codes on your new phone, or have any issues, please let us know.