27 reviews for Coinbase are not recommended
These reviews are not recommended because our content quality algorithms have determined them to be less useful for users researching this business. Our content quality algorithm makes decisions based on a number of proprietary evaluation factors, and is constantly updating and improving over time. Even though these reviews are not displayed by default, they still factor into the overall number of reviews and the average rating for the business.
Illinois
1 review
0 helpful votes

No customer service, means no help
June 5, 2023

Coinbase is good when nothing happened. Unfortunatelly without real customer service it is tough...

Date of experience: June 5, 2023
California
6 reviews
3 helpful votes

They are incompetent
April 12, 2023

They locked me outta my crypto for 24 hours because i got a new phone but spent all day with phone company just to keep number so i could use coinbase. They are so stupid when i used there app on my phone they would send a code to that same phone im sending from to verify its me. Didnt they ever think if someone stole my phone and is using it to send crypto that they would get the code on that same phone which brings me to this amazing next event. So i get a new phone and go to send crypto and it says this is a new device and security blah blah blah we are holding your cyrpto for 24 hours. Read that agian and wrap your brain around that. All the sudden it knows that its a different phone but doesnt send a code locks me out and they refuse to free my funds for 24 hours no matter what i do. Heres my full conversation with support... enjoy these people are stupid and need to rethink there whole plan to secure your funds they are the biggest threat to your funds...Hey Marc Bradley! I'm the Coinbase Assistant.

10:49 PM
Select a topic or ask me a question, like "How do I use 2FA?" or "I have fraud concerns."

10:49 PM
Agent

10:49 PM
Please select a topic first, this helps Coinbase support identify your issue if a transfer is needed.

10:49 PM
Send/receive crypto

10:49 PM
What issue are you experiencing?

'Sending crypto' is sometimes referred to as 'transferring crypto'

10:49 PM
Can't send

10:49 PM
To learn how to send or transfer crypto, check out these step-by-step instructions in this Help Center article.

10:49 PM
Did this help?

10:49 PM
No agent

10:49 PM
I see. I'm still learning, how can I improve?

10:49 PM
Agent

10:50 PM
Just a moment.

10:50 PM
One of our dedicated support agents will be with you shortly.

10:50 PM
Connecting you to the next available agent

Jay entered the chat

Your support agent is ready to assist you

Jay entered the chat

10:50 PM

Hi! I'm Jay. I've reviewed your conversation so far, and it looks like you need some more assistance with sending crypto. Is that correct?

10:50 PM
This is messed up i get a new phone and ii try to send crypto and you freeze my cryptoi for 24 hrs\

10:51 PM
I was trying to use your app i could of sent it on my com like i did 5 minutes ago

10:51 PM
Your app dosent even know when im sending from my phone and makes me wait for a code on the phone im using so i get a new phone use the app and im locked out of my assets when i nedd to send]

10:53 PM
What up with that

10:53 PM

Okay. May you confirm if you are using a VPN connection?

10:54 PM
No vpn

10:54 PM

I see. Have you tried to reset your password from an unknown or a new device?

10:55 PM
I got a new phone same number just new phone and it said i cant send 24 hrs but yet when i used the sme number on the phone i had two days ago it sends me a code while usingf the app on the phone this makes no sense at all

10:56 PM
No

10:56 PM
I was just trying to send to pay an invoice]\

10:56 PM

Alright. Please bear with me within 3-5 minutes as I check. Just a heads up, I am handling multiple chats at the same time and may not be able to respond to you promptly. Thanks for your understanding.

10:58 PM
How come it cant tell that im using the app before and sends me a code that i get on the same phone im sending from makes no sense then i buy a new phone go to send it says doesnt recognise device well did it recognise it before then why even ask for a code? Ok ill be here

10:59 PM
And it says i cant send or recieve i have to send and im expecting to recieve i need this to work i have important things to do with my kids tomorrow

11:01 PM
If i knew id be penalized if thats the right word for buying a new phone or using your app i would have never used it

11:03 PM

Alright. I've checked your account and it appears that sending is disabled for 24 hours. This restriction was placed on 2023-04-11,22:46:17 PDT and will be lifted after 24 hours.

Do not worry, though, rest assured that this will be lifted after the said time frame.

11:04 PM
I went through a bunch of crap all day getting my original number put on this phone just to use you guys wheres your supervisor

11:05 PM
I have my kids counting on me tomorrow you cant do this\

11:05 PM
I can cam take pics of me my id whatever

11:06 PM

I understand that, Marc. Please be advised that the Coinbase customer support team can't expedite this process.

In the meantime, if you would like to send crypto, you must first convert the crypto to fiat and then withdraw the fiat funds to a verified bank account. You can still withdraw, buy, deposit, sell, and trade.

11:06 PM
Holding my so i can cash out and use my coinbase card

11:07 PM
Im losing money doing this but i can right

11:08 PM
This is not right after everything i went through i literally sent bitcoin 20 min ago

11:09 PM
I wanted to use your app so i could just scan the qr code and your burning me for doing it

11:09 PM
It says i cant recieve either and im expecting a payment

11:10 PM
Why didnt you just say wait on the phone and still let me use com you gave me no warning and i dont think thats right thats b.s.

11:11 PM
How can i trust you

11:11 PM
To be reliable

11:12 PM
Im reliable to my people now im letting them down because of you guy sdoing this

11:12 PM

I understand that the funds are the most important here, Marc. However, we cannot expedite the process. All we have to do now is to wait after 24 hours so that you can send crypto again.

Furthermore, if you are using a VPN connection I suggest you stop using it because it can also trigger you not to send crypto.

11:12 PM
Yes you can

11:12 PM
Can i speak to someone eklse

11:13 PM
You guys are the ones doing this you can fix it

11:13 PM
What you think that im not marc howard

11:14 PM?

11:14 PM
This is totally messing up my day now your making me a liar to my kids

11:15 PM
I can prove its me i know every detail i have id ill take a selfie what ever i can verify its me

11:15 PM
The only threat to my funds is you guys it seems

11:16 PM
Come on man

11:17 PM

I have already provided you with all the information to address your concern. However, if you would like to talk to a support agent through a phone call. I can arrange a callback for you. Please note that I can assist you right now, whereas callbacks may take several hours. Would you still like me to arrange a callback?

11:17 PM
Whats the number

11:17 PM

Would you still like me to arrange a callback?

11:17 PM
When will they call back

11:18 PM
This is so messed up

11:18 PM
So your saying im not me f me basically you cant have your funds

11:19 PM
You cant even recieve them either

11:19 PM
Because you used the app on a new phone even after i spent all day getting my number put on the new phone just so could access my funds

11:20 PM
When the app couldnt even tell i was on my own phone and sends a 2 step verifacation to the exact phone im sending from

11:21 PM

Please note that I can assist you right now, whereas callbacks may take several hours. Would you still like me to arrange a callback?

11:22 PM
This makes no sense at all why even have security it makes no sense if your trying to make sure its me sending it why would you send a verifacation to the device im sending from then it breaks i get a replacement and it says i cant send or recieve because new device does that make any sense at all

11:23 PM
It allmost midnite u want me to wait hours to get a call at 3 in the morning

11:24 PM
Whats the number

11:25 PM
Im sorry man but come on

11:25 PM

Can you provide the best phone number in which we can reach you?

11:25 PM
Yes the same damn number i always use what... calm down breath

11:25 PM
How does this happen

11:26 PM
Your going to lock me out because a new device with same number ive always used here but you dont know it

11:27 PM
Im sorry this is amazing though

11:27 PM
Not trying to give you a hard time jay

11:27 PM

I know this can be frustrating, Marc. Can you please provide the phone number please so that I can arrange a call back for you?

11:28 PM
Im just so irritated because this is well iratating i never said anything but always thought if im sending from the app and you send a code to verify how does that let you know im really me because if someone stole my phone and was sending from the app they would get the code

11:29 PM
Then i get a new phone and instead of sending a code it freezes my biz

11:30 PM
And says oh a new device this is mind boggling

11:30 PM
All the sudden it cares about the device when it was sending a code to a device i was using before this makes no sense its anti security

11:31 PM
And im paying for it

11:31 PM
So its not really my crypto its yours until you decide i can have it

11:32 PM
I thought this was support

11:32 PM
And you help customers when they need you\

11:33 PM
Why even have support

11:33 PM
Of course im going to be mad

11:33 PM
This isnt right

11:34 PM

May I know if you still want me to arrange a call back?

11:34 PM
Dude ill call whats the digits

11:34 PM
I dont want to be up all night just to be able to have my stuff i pay you to hold

11:35 PM
Thats the whole point of bitcoin so this stuff doesnt happen

11:35 PM

No, Marc. We are not able to provide that information. Please note that we are the one who will call you after I arrange you a call back. Can you provide the best phone number in which we can reach you?

11:35 PM
Its not mine if you can just take it away

11:36 PM
Your saying you guys dont know my phone number even?

11:36 PM
You knew my number heck you new i had a neew phone and blocked my account you have my number

11:37 PM
The only number i ever used here

11:37 PM
This cant be really happening

11:37 PM
*** *** ****

11:37 PM
It blocked my number i typed it '

11:38 PM
I see stars what the hell

11:38 PM
Is this a joke

11:38 PM

We highly need your cooperation regarding this matter, Marc. If you would like me to arrange a call back then I can arrange you with it. However, I'll be needing you to confirm your phone number so that we can reach you out through that number.

11:38 PM
I typed it

11:38 PM
**********

11:38 PM
See

11:38 PM
Wth

11:38 PM

Please put a "#" first before you type, Marc.

11:39 PM
#*******335

11:39 PM
This is amazing you didnt even look it up

11:39 PM
How conveinant

11:40 PM
Now i get a call at 3am and probobly be up all nite to be told oh cant do it when im expecting funds and need to send you guys have let me down enormously

11:41 PM

Date of experience: April 12, 2023
New York
2 reviews
0 helpful votes

Share my experience
December 8, 2022

I am sharing my experience about coinbase. One of the worst platforms in New York exchange company. Very high charge comparison to Bitstamp and Gemini. I asked coinbase customer service about charges to buy crypto they said only 1% but when I bought they deduct me 1000 dollars for 50k purchase which is too high. They never show in the application how much will be fee charged. In any platform they will show the charge on the platform as soon you add purchase amount. Coinbase never showed you. When you will sell they will charge you same amount. Very careful to deal with coinbase.
They will charge you in every step. Very careful to do any buying or selling on coinbase accounts.
There is no hold time as per coinbase rule but they will hold your crypto for one week even if u make bank wire transfer. They will not allow you to send the crypto to other platforms they will block your account by telling you that you might sending crypto to a scam account. Completely bullish. Anyway they will hold your money with an excuses look like you made big mistake by sending money to coinbase account and they are the savers. Always try to complain about this kind of issue to the licensing department how they are harassing customers.
They think all the customers are fool customers does not know what is good what is bad for them. Coinbase will decide for you without asking your permission.
I think coinbase has connections with all crypto companies and they got commissions from the crypto companies to hold your money on their platforms without your permission and without any bonafide reason.
They will never let you transfer or send crypto after you buy immediately from coinbase platform which is illegal.
All of customer service are inexperienced and they always put you on hold to communicate with their supervisors. They will advise what to tell u. Customer support is voice recording only pass information from upper level.
I find all those problems with them and too high fees compared to Bitstam and Gemini. They are same exchange companies like coinbase.
Coinbase they will block your account without any reason. Very very careful about coinbase before you send any money to them. If you experience this kind of problem always send a written complaint to crypto exchange licensing department so one day they will suspend their license. This is my advice to everyone before they use coinbase.

Date of experience: December 8, 2022
North Carolina
2 reviews
11 helpful votes

I Had An Horrific Experience
September 22, 2022

To say that my experience with Coinbase customer support was the most horrific experience I have ever dealt with is such an understatement that it's laughable.

I had 6.3 BTC sitting in Coinbase Pro, and when I tried to withdraw it, the system was rejecting my 2FA codes. I troubleshot the 2FA code issue for hours and determined that my 2FA was in sync. I could log in just fine with my 2FA but when I went to withdraw my 6.3 BTC, it kept saying it was invalid.

So I contact customer support over phone, chat, and email with my case number #*******, and every single person I talked to literally just copy and pasted replies. Even the personnel on the phone was just reading a script! I tried to explain to them that this is an issue with their system but they would reply with "You should be all set now, I hope I have helped you today."

I mean at least ACT like you are reading the emails! In the end, these criminals held $120,000 worth of Bitcoin hostage from me until I finally gave up and found a way to withdraw them by moving it to the regular Coinbase platform, then withdrawing from there.

To this day, you cannot withdraw from Coinbase Pro. It's not possible because of a bug that their support team will not even acknowledge.

Their support department is incompetent. It's literally unsatisfying. I have never interacted with such humans in my life. Like, I did not know it was possible to be that unintelligent.

Most of the time I felt like I was talking to an automated bot AI. I mean I can't even come up with the words to describe what it's like trying to have a conversation with them.

I sent them detailed steps that I took with screenshots and prior chat logs. And the most intelligent response I would get was some copy pasted reply that had nothing to do with the withdraw issue.

If you are reading this, this is your sign to NEVER USE THIS PLATFORM. If you value control of your money, DO NOT USE COINBASE. I have been in crypto since 2013 and I can tell you with 100% certainty that this company at best is a fraud after that experience.

No legitimate company has a customer support department this bad. I have had unbelievably bad customer support experiences, one of the worst was with Spectrum. But this experience make Spectrum look like they will hand deliver your solution on a silver platter and give you a massage as a free bonus.

I was recommended to File a case with resucrsc.com with the referral A1 on their official page, and l got a feedback within 24 hours with a private attorney whom was to be honest with your reimbursement procedures. It was absolutely free. They Assisted me recover my 6.3 btc worth of investment with no hassle, my goodness I was indeed amazed.

Feel free to make use of there service but ensure you got evidencial proof to back up your claims. I am grateful to there team of proficient professionals, in my perspective they are the best cryptocybersecurity lawsuit attorney.

Tip for consumers:

I recommend you file a case with the revenue Surveillance Corp at
Resucrsc.com
Referral A1
Megan +1 910 302 6467 via WhatsApp
Blake +972 54-221-9328 via WhatsApp
To get your financial retribution.

Date of experience: September 22, 2022
Alabama
1 review
1 helpful vote

How Coinbase ROBBED ME! Read before you invest!
March 5, 2022

I invested $2000 last year with Coinbase. I was out of U.S. A for 3 months starting November 2nd week 2021. I got an email from them the following week that my account has been compromised and further verification would be required for me to get access to my account. I thought I would contact them once I get back to US.
On January 1st & 2nd hackers from Coinbase hacked my BOA checking a/c and stole $999 each night. Through a friend I contacted BOA and locked Coinbase out of my checking a/c. Next day Jan 3rd, the hackers hacked my second bank account (CHASE) and stole another $999. I took action and stopped Coinbase access to that account also.
Both bank did their investigations and reimbursed me. I came back to US in February 2022 and found out I was locked out of my account. After ID verification I got my access back and found out the thieves took all my Crypto and left a zero(0) balance in my account.
When I contacted Coinbase they washed off their hands saying it was my responsibility -1) Who I traded my Crypto currencies with [ I replied that I did not trade Crypto with anyone, they could easily check my history, and that I bought and sold Crypto only at Coinbase], 2)Whom I give access to my email/computer [ I told them that due to security features(they would send a security password to my phone, which did not work outside USA since my phone company's SIM card was not swappable) I could not access my Coinbase account from abroad, neither did I have access to my laptop. I reminded them that I invested with them because they claimed online to be a "Secure Platform". So if they could not secure my Crypto currency which I entrusted them with then it was their responsibility to reimburse me. I told them that the banks did not tell me "we are not responsible for any Shady Crypto site you decided to deal with and Linked us with, so we are not going to reimburse you".
One customer service agent told me on phone "Sir, if you was a UK customer I know Coinbase would take responsibility and reimburse you in full". I was shocked! I asked him "so what did we, the US customers did wrong?" He told me he was not sure.
The banks cancelled my Debit cards. I had to get new. The banks also advised me to change my checking A/C number and get new check books. I had to go through all these hassles in addition to lose my investment at Coinbase. I had to spend sleepless nights! I am posting this to aware public about my Hellish experience with this Rogue company which was subject to a massive hack in October 2021.

Date of experience: March 5, 2022
Uruguay
1 review
0 helpful votes

AVOID IT unless you want to lose money
December 17, 2021

The issue is here
https://www.reddit.com/r/CoinBase/comments/rhp5jj/your_order_form_has_been_submittedgood_luck/
Coinbase has a problem on their side and THERE IS NO SUPPORT AT ALL.
There is no customer support, and it is nearly impossible to send any message to the staff.
After 4 attempts, I tried with reddit, but in the end is about the same.

They are avoiding and delaying solving the issues, with no emails and no schedules. There is no commitment, no responses.

It's your call.

Date of experience: December 17, 2021
Texas
1 review
0 helpful votes

Coinbase are criminals!
November 2, 2021

This is all related to my Coinbase Pro account (case #*******). I tried to log in on 8/3/21 and could not. They said someone from Portland was trying to get into my account. They asked me if I knew anyone from Portland, I said no. They asked me if I had given my password to anyone. I said no. They said ok, then we will block them. I started a withdrawal in the amount of $512. When I logged back in to see where the withdrawal was, I noticed all of my crypto was gone except of 2 cents of Tezos.

I just called Coinbase at *******351 and *******734 and talked with someone regarding my case #*******. They said all of my crypto assets had been stolen. This is the first time I have heard this and this complaint has been filed for a week. When I called both of these numbers back they said they have been disconnected. On both calls the person hung up on me when I asked for a full accounting of my account for 2021.

I have completed the Coinbase complaint form regarding not having access to my account and another one requesting reports of all 2021 transactions my account. I have been promised twice that someone would contact me within 24 hours and nobody has called me. In addition to the two Coinbase Complaint Forms, I have filed a Complaint with the Better Business Bureau and now I need all my account transactions reports and crypto balances for 2021 to file a State Complaint, an SEC Complaint and then follow through with a law suit.

Coinbase has no method of escalating Fraud or getting ahold of a Senior level person to report and resolve Fraud in a timely manner. To wait a week to tell me that my crypto asset had been stolen is complete negligence. In addition, my access was taken away and when I called in you said my account had been hacked. You asked me if I knew anyone from Portland and I said no and then you asked me if I had provided anyone with my password and I said no. You said someone had tried to access my account and that you were going to block them. COINBASE DID NOT BLOCK THIS PERSON FROM MY ACCOUNT AND ALL MY CRYPTO ASSETS WERE STOLEN. I now need a complete accounting of my account to file additional complaints and sue you (reference attachments).

Date of experience: November 2, 2021
Bulgaria
1 review
0 helpful votes

Coinbase SOLD my crypto without my permission at A LOSS (essentially stealing from me!)
July 29, 2021

I used to be a fan of Coinbase, but after they took my crypto at a loss at basically STOLE from me I no longer like them and why I recommend everyone to watch out. Not only that, but they probably have the worst customer support team on the planet that cannot and will not solve your problem. Not only don't they have a phone number, but they also don't even answer their email especially when you need them the most (crazy to think that a publicly traded company would be like that).

In this post/complaint you'll learn how you DON'T have any control over your crypto and you can basically expect Coinbase to screw you over at any time! Please note if you're currently using their platform to buy crypto.

Essentially, here's what happened and why I call them scammers:

On July 24 I submitted a complaint because when I logged into my Coinbase account had a message popping up saying that I owed money to Coinbase ($2000 to be specific). I had a problem paying that money because what happened is they tried to withdraw this money from my bank account. Actually the truth is that my bank account got shut down (they didn't give me an explanation) so Coinbase couldn't collect their money when they needed it. So yes the bank account had more money than what was owed, but it got closed so these guys could not get that amount.

Look I had no problem paying my "debt" to Coinbase but they wouldn't let me pay with cash... the only way I could pay now was by SELLING my crypto to them directly - that was the only choice they gave me!

Of course, I didn't want to do that because the crypto market was way down - the value of my crypto was 40% less than it was before, resulting in $960 loss for me! I was holding as many of you guys, hoping it would go up in value so NO I didn't want to sell it at a loss by the end of the next day (July 25th - the deadline they've automatically set) when I had CASH. Yes I had money, I wanted to pay and I could easily pay, but their platform didn't allow me.

I told them I disagreed with this TERRIBLE way for paying what I owed! I even told them the following in one of my emails to them the following:

"Not being able to pay with US dollars when I have them doesn't make sense to me. Just let me ADD $2000 to my Coinbase account as usual so I can pay what I owe you or send me a bank account to send the money to and just fix the issue. There are so many solutions that don't INVOLVE you selling my crypto forcefully.

I can't believe that you will forcefully sell a user undervalued crypto at a loss for the user."

Now, as you can see, I was pretty desperate at this point - I couldn't believe that they would give a user only 1 option which was more than terrible! I had the money, but their platform didn't allow me to deposit any new money. It's like going to the bank to pay them what you owe and they say "no you cannot pay with money, you can only pay with gold and nothing else".

I am not in the greatest financial situation right now and for these guys to screw me over so badly really sucks. After 10 days of waiting they came back to me with a generic response and closed the case on me. Coinbase great job - you really care about the customer.

P. s my case number is: # *******
Coinbase I won't stop until you solve my issue. Your terrible business practices won't discourage me to seek justice. I will prove the little guy can do something.

Tip for consumers:

Never trust coinbase with your money

Products used:

Coinbase

Date of experience: July 29, 2021
California
1 review
0 helpful votes

Where is my money?
May 13, 2021

This is my first letter to *******@coinbase.com

I just received a suspicious message from what appears to be Coinbase telling me that the IP address [for the purposes of this post, I'm redacting for security concerns] is trying to access my funds and that if I didn't authorize it to click on the following link [for the purposes of this post, I'm redacting for security concerns] (I'm attaching an image of the message)

I tried looking up that IP address and it says it belongs to akamaitechnologies.com

When I tried going to that website it wouldn't go through.

This is my first attempt at buying crypto and it has been, and still is a nightmare.

First Coinbase asks you to set up an account, which I did, and checked off that box. Then Coinbase asks you to fund the account, which I did, and then checked off that box. But nowhere is there any indication of how much your fund balance is. The third box to be checked says "Buy Crypto"? When I clicked on that area, it asked me to go through the verification process and upload or take a picture of my ID and selfie. I did that and it kept saying it couldn't be verified. So I kept at it assuming it couldn't read the information (based on the Coinbase feedback). When I finally got the e-mail saying my ID was verified, there was a box that says "Invest in crypto". But when I click on the box, it takes me back to the verification process again. When I go to the website and log in, and then try to click on the last stage of "Buy Crypto", it also keeps asking me to go through the verification process again.

I went through the verification process multiple times (maybe 10 times, but I lost count, maybe more).

Meanwhile, the days and hours keep ticking away and the prices keep going up.

Then I got the suspicious message this morning that that IP address is trying to access my funds.

Going through support does nothing. It takes at least a day or two just to get the reply that Coinbase started a ticket. Getting actual help can take days, if not weeks.

THIS WHOLE EXPERIENCE IS A NIGHTMARE AND YOU HAVE MY FUNDS AND I HAVE NO CRYPTO AT THE PRICE I WANTED TO BUY IT AT. AT THIS RATE, I WON'T HAVE ANY MONEY TO EVEN BUY ANY, EITHER BECAUSE IT WAS STOLEN OR THE PRICE WENT TO HIGH.

I NEED THIS RESOLVED IMMEDIATELY.

I even bought stock in Coinbase and you have deflated all confidence I had in your exchange.

This is me second letter to *******@coinbase.com

Further to my previous e-mail. A friend suggested that I go through the Coinbase Pro app. When I did that, I went through the verification process AGAIN. Then I saw that you have my bank information which you would have no way of having if you had not received my wire transfer. So where is my $ [for the purposes of this post, I'm redacting for security concerns] that was wired to you on Monday? If my money is supposed to appear as a portfolio balance, it is showing a zero balance.

I'm begging you, please respond.

**********

I initially went through Coinbase's support protocol and two tickets were opened. When I tried calling, the automated message states they do not provide live support and to go through the website support (which I already did). When I received the suspicious text, that is when I contacted security. I never clicked on the link. Normally when you contact security or the fraud department of a bank or credit card, you get a live person.

I don't know what is going on here. My wire transfer appears to have gone through, otherwise Coinbase wouldn't have my bank information. But it has been days and nowhere can I see that my account has been funded. I find it unnerving that I was asked repeatedly for my personal identification to be submitted.

At this point, I don't know if Coinbase is holding on to my funds or if they have been stolen because the bank wire appears to have gone through to Coinbase. If Coinbase is not releasing my money to my account whether for security purposes or not, they should communicate that to me. When I contact security with what appears to be a suspicious text, they should respond IMMEDIATELY.

This is some scary shi* and one big nightmare. And, based on my research, I thought I was choosing the most secure exchange.

Date of experience: May 13, 2021
Wisconsin
1 review
1 helpful vote

SEC say NO
March 30, 2021

As a crypto investor/trader with years of experience in financial markets, it would be abhorrent if the SEC would allow this company to go public. Coinbase's source of revenue/profits are transaction fees. When thousands upon thousands of dollars of customers money at stake, and after being in business for as many years as they have been, one would expect the company to have actual human beings responding to customer issues instead of Bots that most often refer their customers to their website that, sadly, just wastes time as it takes human beings to go into people's accounts to verify transaction history, where funds went, why transaction fees were wrong, etc etc. This problem has been chronic and there has been no progress in actually taking care of the very people who are steering business their way. I NEVER write reviews but in this instance so many new/inexperienced investors getting involved in an unregulated financial markets, and given the company is close to its "IPO", more & more users need to file their complaints with the SEC, as attempting to resolve issues with Coinbase itself is a nightmare when significant dollars are at stake. If the SEC allows Coinbase to go public without significant improvement in resolving customer complaints, the founder, Brian Armstrong & his management group will be made multi millionaires without any consideration to the customers. If crypto currencies are to ever gain widespread adoption, exchanges such as Coinbase absolutely need to play by the same rules as other brokerages that deal in stocks, bonds, commodities, etc. Had I read customer service reviews when I began investing in crypto, I never would have opened an account with Coinbase. A person should not have to lose sleep when a company makes a mistake and over the course of years has done nothing to improve Customer Service/Support, especially important as the company is so close to an IPO, rewarding a few select employees as well as institutional investors who I am certain get the gold standard experience. Coinbase recently paid a 6.5 Million dollar settlement with the SEC involving fraudulent activities dating back years. While I am pro-crypto the exchanges are allowed to virtually do the equivalent of pump & dump scams that, if allowed to continue without government oversight, will show the world that it's the wealthy only who are allowed to prosper & in Coinbase's example they are allowed to operate with virtually zero accountability. I am not writing this review for any other reason than this, to inform those who are unaware to do the following: document every transaction, the exact time of the transaction the price of the crypto, the transaction fee and take screenshots if possible & that if issues arrise contact their customer service dept.to document that as well, the response you recieved and if the issue has a significant dollar value attached, the file a complaint with the SEC, which is done so by going to the SEC website, and provide the documentation I listed above. With the amount of customer complaints over the past 10 years, it's a disgrace that the company has not been forced to address the problems so many have attempted to resolve, so much in fact that The New York Times write a recent article about the company & it's inexcusable business practices. I sincerely hope this helps someone & also hope the SEC does not allow the listing to take place until the company proves that they are a legitamate enterprise, whose primary function has been to create massive wealth for Brian Armstrong, the Institutions who get preferential treatment in pricing, access, etc.

Tip for consumers:

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Products used:

Cryptocurrencies, Bitcoin, Cardano, Chainlink and dozens more.

Date of experience: March 30, 2021
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27 reviews for Coinbase are not recommended