I do not know how many times people are going to have to learn this lesson, blocking your account for no reason is even more prevalent in exchanges than what you see in banking institutions, which is why many are against centralized exchanges and centralized cryptocurrencies as we know they are going to be more oppressive than the current system we have in place so we do not have any other option but to keep our coins in a wallet only we control and use DEXs whenever we can.

I have had my account for a month and just received this email today.


"Hi,

Thank you for recently creating an account with Coinbase. You'll have access to the following services on your account:

Credit Card crypto buys
Debit Card crypto buys
Crypto convert (convert one crypto into another)
Send crypto to a wallet outside of Coinbase (for more information, see this help centre article)
At this time, you're not currently eligible to receive the following services on your account:

Bank Account Deposits and Withdrawals
Crypto sells
This means that you're currently unable to sell your crypto for GBP or other fiat currency on Coinbase. We're working to enable the ability to sell crypto for fiat into your PayPal account and will contact you again in the next few weeks once that service is available to you."



Is this normal? Should I be concerned about this? They're basically stopping me from withdrawing my money into the bank account that it came from, not giving any reason and telling me they'll contact me in a few weeks when I'll be able to transfer it into a Paypal account that I don't want to transfer it into. The more I think about it, the more this doesn't seem right.

Note: I transferred about $20 worth of XRP into my Binance account yesterday and am wondering if this might be related?

Although, they seem to be implying this is fine when they say this is an available service:

"Send crypto to a wallet outside of Coinbase (for more information, see this help centre article)"

I've sent them a shitty email letting them know I've posted about it on forums to get advice and transferred most of my funds into a hard wallet but it's a really bad service IMO. If I hadn't bought a hard wallet I could be in a bad situation right now.

well they care less you are postin on forum lol:D they are too big for you.

their words against your words ? you are we are nobody for them t be honest here

Well this is shit news, friend. Sorry to hear it. I've never had trouble with Coinbase but the most I've ever tried to withdrawal or buy at a time has been ~3BTC. I don't store my bitcoin with them, but i don't do trading either.

Obviously the $20,000 price of bitcoin today and in 2017 coinciding with this alarming actions on their part is suspicious. Do you think they could be targeting specific accounts based on balance size to keep from getting a "run on the bank"? You know, when everyone tries to sell at once and they don't have enough fiat or crypto themselves to cover the payouts.

Anyone else experiencing this "account under review" treatment?

i dont agree with this not your key not your bitcoin ! if the wallet provider get fee for that as im customer then customer is king,period !!
same way the bank can tell you not your bank building not your money lol:D

this is some utter nonsense not your keys not your bitcoin it sounds like i dont know what.,

Not only that then he puts the example of the bank and tries to downplay our argument when we know for a fact that banks can just freeze your account for no reason, we know that during times of great economic turmoil banks take holidays that last weeks or even months and then they limit your access to money that belongs to you and in some cases they even take money from the accounts of all their clients stealing from you and then try to rationalize it, so not your keys not your coins is as relevant today as when the phrase was first uttered.

If an account is banned you will never receive the funds and all of the services hold on to that funds until there is a scam accusation against them which forces them to do what is necessary and logical and we have seen that instance several times and there are situations when we provide all the documents necessary and it will take a long time to get our funds or the accounts unlocked. The only solution is to identify all these sites that have bad policies and avoid them altogether.

Why are you still using coinbase if they did a similar thing to this during the 2017 bull run. I had no idea they did that. I can't believe people are still using them years after that happened.
It's hard to feel sorry for someone who uses an exchange they know is no good. Sound scammy. I will never use CEX for this exact reason. DEX is much better and crypto-friendly, crypto was never intended to be CEX, to begin with. It just doesn't make sense to me.