>> (p.1)
    Author Topic: Notorious Coinbase holding my bitcoins in name of 'Review' | Be careful  (Read 647 times)

    • btcwish1 (OP)
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    November 21, 2020, 05:40:32 PM
    Merited by DdmrDdmr (2)
     #1
    I am with coinbase for several years. I am fully verified user. As we see BTC is now at ATH for this year, my plan was to sell the btc now and buy back later. Before doing that I was planning to bring some more BTC from other exchanges in coinbase and then sell all together.  After transfer is completed I was ready to sell.

    But before that all on a sudden yesterday coinbase sent me this status " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status."

    I am fully verified so, no idea why on earth they are doing this. I sent them email and got a copy past reply!  If you remember coinbase did similar kind of things on last bull run on 2017 when their webpage was just went down at the time when BTC was hitting $20k. I couldn't cash the opportunity back then because of this. Now in this bull-run they are doing so called 'Review' out of no where and hold my account. I can't buy/sell, or even transfer my btc to other exchange! No sure if coinbase is intentionally doing this during Bullrun!

    I am fade-up with coinbase and will transfer all my balances to another exchange as soon as it is sorted. 

    I just thought I will  make everyone aware of this so that you also don't fall for this crap at time when you need to sell/buy to grab the opportunity.

  • Charles-Tim
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    November 21, 2020, 05:59:02 PM
     #2
    Not your key not your coin, just go noncustodial next time. So far you do not hold your private key, shit can happen like freezing of account. You would have just transferred your bitcoin to no-kyc exchange now and transfer your coin/exchanged coin back to the noncustodial wallet now.
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  • btcwish1 (OP)
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    November 21, 2020, 06:02:03 PM
     #3
    Quote from: Charles-Tim on November 21, 2020, 05:59:02 PM
    Not your key not your coin,  just got non-custodain next time.

    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?

  • Cointxz
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    November 21, 2020, 06:10:48 PM
     #4
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    Quote from: Charles-Tim on November 21, 2020, 05:59:02 PM
    Not your key not your coin,  just got non-custodain next time.

    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?

    There are Decentralized exchange that you hold private key like Bisq. But it's market is very limited, Did coinbase support tell you the reason why your account got freeze? They always do that once you violate there ToS. So far we have no choice on using custodial wallet like exchange since its the most convenient way to trade. Just don't let your asset stay there for a long time after you trade.

    Try to coordinate to there support. They will surely release your funds once you follow there instructions.
    ..Stake.com..   ▄████████████████████████████████████▄
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  • Charles-Tim
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    November 21, 2020, 06:11:03 PM
     #5
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?
    This is the way I do it, I make use of noncustodial wallet, and I can make use of noncustodial exchange, you just convert to btc to stable coin for that time period, and convert back anytime you want. Or, you can follow this best way, making use of Dex which would be fine, but the fee can be too high like $6 for exchanging from one coin to another but still better so far you do not trade often. There are some noncustodial wallet that have third party Dex support, you can just swap directly using the Dexs on the noncustodial wallet.

    But, I would still advice you not to convert to any coin, the possibilities that bitcoin will reach all time high is over 99.99%, you can just hold your bitcoin than converting to shitcoins.
    ..Stake.com..   ▄████████████████████████████████████▄
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  • philipma1957
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    November 21, 2020, 06:14:10 PM
     #6
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    Quote from: Charles-Tim on November 21, 2020, 05:59:02 PM
    Not your key not your coin,  just got non-custodain next time.

    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?

    maybe you could sell to a trusted person here on BitcoinTalk


     https://bitcointalk.org/index.php?board=53.0
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  • btcwish1 (OP)
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    November 21, 2020, 06:18:25 PM
     #7
    Quote from: Coin_trader on November 21, 2020, 06:10:48 PM
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    Quote from: Charles-Tim on November 21, 2020, 05:59:02 PM
    Not your key not your coin,  just got non-custodain next time.

    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?

    There are Decentralized exchange that you hold private key like Bisq. But it's market is very limited, Did coinbase support tell you the reason why your account got freeze? They always do that once you violate there ToS. So far we have no choice on using custodial wallet like exchange since its the most convenient way to trade. Just don't let your asset stay there for a long time after you trade.

    Try to coordinate to there support. They will surely release your funds once you follow there instructions.

    I asked the support 'WHY' my account got under review and they replied ' currently your account is under review bla bla and explained what can be done during review bla bla'  a copy paste reply!

    There is absolutely no violation as far as I know because all I did was sent some btc from my kraken account. I am already fully verified.  This extremely annoying Sad

  • Baskeyairdrop
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    November 22, 2020, 04:15:22 AM
     #8
    Why not store your btc in a wallet that's not an exchange and when you need to trade or sell, you'll transfer the sum you want to sell into the exchange website. That is safer.

  • pooya87
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    November 22, 2020, 06:10:14 AM
    Merited by vapourminer (1)
     #9
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?
    you don't have to close down your account and there is no rule saying that your Coinbase account must always have a balance in it. you can continue having the account while storing your coins somewhere else (eg. a cold storage).
    unless you are a day trader and are making at least dozens of trades per week, this option is the way to go. whenever you want to buy/sell bitcoin you simply log into that account deposit some funds and make your trades then withdraw out to your cold storage again.

  • zeingrind777
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    November 22, 2020, 06:23:28 AM
     #10
    Quote from: btcwish1 on November 21, 2020, 05:40:32 PM
    I am with coinbase for several years. I am fully verified user. As we see BTC is now at ATH for this year, my plan was to sell the btc now and buy back later. Before doing that I was planning to bring some more BTC from other exchanges in coinbase and then sell all together.  After transfer is completed I was ready to sell.

    But before that all on a sudden yesterday coinbase sent me this status " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status."

    I am fully verified so, no idea why on earth they are doing this. I sent them email and got a copy past reply!  If you remember coinbase did similar kind of things on last bull run on 2017 when their webpage was just went down at the time when BTC was hitting $20k. I couldn't cash the opportunity back then because of this. Now in this bull-run they are doing so called 'Review' out of no where and hold my account. I can't buy/sell, or even transfer my btc to other exchange! No sure if coinbase is intentionally doing this during Bullrun!

    I am fade-up with coinbase and will transfer all my balances to another exchange as soon as it is sorted. 

    I just thought I will  make everyone aware of this so that you also don't fall for this crap at time when you need to sell/buy to grab the opportunity.
    I've never bought and selling bitcoin on Coinbase. If that is the case with you Coinbase has terrible service to its users. I prefer to trade on DEX exchanges. As for choosing CEX in high volume, I chose Binance as the exchange. I hope your case will be resolved soon so that you can resell your assets on a different exchange.

  • Sparrow96
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    November 22, 2020, 07:05:40 AM
     #11
    I am also a verified user of Coinbase. I have been using Coinbase since 2014. In June, this year when I logged in my account after a long time. I see the banner that my account is under review. They said it will be fixed in a few days. After 4/5 months the account is under review. They only give robotic reply, nothing else. I am unable to transfer and receive bitcoins. So, I moved to non-custodial wallets fully. I believe custodial wallet no more. I also suggest you to move from Coinbase to any non-custodial wallet.

  • Maus0728
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    November 22, 2020, 07:09:57 AM
     #12
    I am not quite sure how my suggestion would be of any help but aside from directly making contact with coinbase support, you can also get some help by reaching out with their reddit moderators.

    [1] https://www.reddit.com/r/CoinBase/about/moderators/

    Moreover, there is nothing new with all these abrupt account restriction especially if there is an ongoing bull run happening. Take a look at their sub reddit and you'll see a lot of complaint about restrictions issues on their account. If, however, your issue has been solved -- you might want to transfer your funds to a non - custodial wallet if ever you are just going to stack it for a long period of time and then transfer it again to an exchange if you are planning to sell.

  • erikoy
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    November 22, 2020, 07:11:41 AM
     #13
    Quote from: btcwish1 on November 21, 2020, 06:02:03 PM
    Quote from: Charles-Tim on November 21, 2020, 05:59:02 PM
    Not your key not your coin,  just got non-custodain next time.
    But how can you sell from non-custodian wallets? Most of my coins are in hardware wallets. But I was planning to sell some btc to take advantage of this bull run but because of this crap Coinbase I can't  Cry

    Is there any other way to buy/sell without using exchange?
    I thought there are decentralized exchange that you can use whenever you wanted to have a complete control over your bitcoin and liquidity. For now, this is a lesson learn and to sort things out it is better make good use of those decentralized exchange right after your coinbase account will be done for reviewing. In this case if it will take some time then good luck on the ATH if you can aticipate this time but for now if not then wait again for the next ATH. However, that would be some time to make it happen.

  • bchshitcoin
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    November 22, 2020, 07:35:11 AM
     #14
    Just buy GBTC next time if you're a US citizen.

  • Dorodha
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    November 22, 2020, 08:50:55 AM
     #15
    Coinbase is good for storing BTC but the infamous Coinbase holds my bitcoins in the name of 'Review' so beware of these. There are many scammers who hack using fake exchange sites this is why wallet storage should be used in other wallets. There are also many exchange sites in the crypto market if you buy and sell coinbase scams you can use hardware wallet to save money. Currency exchange and transfer are easy and many reliable sites the chances of being scammed are much lower.

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    November 22, 2020, 11:47:29 AM
     #16
    Quote from: btcwish1 on November 21, 2020, 06:18:25 PM
    There is absolutely no violation as far as I know because all I did was sent some btc from my kraken account. I am already fully verified.  This extremely annoying Sad

    If it's just that transaction from Kraken, maybe there's something suspicious about it? Even if this is not the case, it would be interesting to find out how many users were left with a frozen account at the time they planned to profit. If we go into conspiracy theories, I would say that Coinbase wants to prevent as many users as possible from selling BTC - for reasons we can only guess.

    After all, you may want to join the movement Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again

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    November 22, 2020, 11:56:39 AM
     #17
    Sir, please do update us on what will happen here.
    I am kind of intrigued about this kind of situation.
    Many will try to sell at ATH and I bet they don't want to just instantly get a frozen account just because Coinbase is trying to hold them off from selling.

    Maybe you should try another exchange afterward. If you don't have any problem with KYC (since you are verified with Coinbase) then go for the top exchange that is available. I bet they won't make the same ruckus as Coinbase did.

  • chip1994
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    November 22, 2020, 11:59:40 AM
     #18
    Coinbase in recent years has often had cases of user information. They were unreasonably suddenly inspecting and seemingly intending to possess the person's property. In my company, my colleague lost 12 Bitcoins at Coinbase due to inability to verify his identity, and support always refused user-provided information for no apparent reason.
    So be careful when you put too much money on Coinbase, even if you have a 100% verified account. Smiley

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  • btcwish1 (OP)
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    November 22, 2020, 12:12:29 PM
     #19
    Quote from: Sparrow96 on November 22, 2020, 07:05:40 AM
    I am also a verified user of Coinbase. I have been using Coinbase since 2014. In June, this year when I logged in my account after a long time. I see the banner that my account is under review. They said it will be fixed in a few days. After 4/5 months the account is under review. They only give robotic reply, nothing else. I am unable to transfer and receive bitcoins. So, I moved to non-custodial wallets fully. I believe custodial wallet no more. I also suggest you to move from Coinbase to any non-custodial wallet.

    How did you move your coins to non-custodial account while their 'Review' is on going?  So, after 4/5 months your account is still under review and all funds are unusable?


    This is really pathetic! I am so upset that I can't take advantage of this bullrun.  I just can't wait to remove all my coins from this disgusting coinbase.

  • mapsfly
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    November 22, 2020, 12:34:40 PM
     #20
    so transfer smaller amounts into coinbase then to bank account is the lesson?

    whats a reputable alternative to get funds from exchange ---> bank account other than coinbase?
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