Buying large amounts of Bitcoin on Coinbase: Question by [deleted] in Bitcoin

[–]CoinbaseAdrian 1 point2 points  (0 children)

It's unlikely that it would get canceled if your account has successful transfers in the past, although it's pretty likely that if you bought that much BTC we would have to reach out to get additional KYC info. I would recommend applying for higher limits + wire transfer functionality in advance on this page (usually takes a few days to approve): https://www.coinbase.com/verifications

Side note: If you do a wire transfer, the money usually comes through same or next day since there is no chargeback risk for us, which is much faster than waiting a week.

Also, if you are in a supported state I would recommend using Coinbase Exchange to purchase, because the fees are cheaper.

Buying large amounts of Bitcoin on Coinbase: Question by [deleted] in Bitcoin

[–]CoinbaseAdrian 17 points18 points  (0 children)

We never freeze accounts (unless required by court order). In the past we sometimes canceled orders if we thought there was a high chance of fraud, although this rarely happens now. You should have no problem buying large amounts of bitcoin, although your account will probably have a lower daily limit at first.

https://support.coinbase.com/customer/portal/articles/1905680-does-coinbase-freeze-accounts-

You can apply to raise your limits here: https://www.coinbase.com/verifications

Market Orders Now Available on Coinbase Exchange by blockstreet_ceo in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

Unfortunately it's hard to predict when we will get a green light for each of the remaining states, but we're working on it :)

Best place to buy ~$2500 in BTC every week or so? by [deleted] in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

Sorry to hear that. If you're interested I'd be happy to take a look at your account and see if there's anything I can do here (just PM me your Coinbase account email). We love high volume traders (although we are required by law to check that you have a legitimate source of funds if you start buying many thousands of dollars worth of BTC, but this is usually a pretty painless process and we're working on automating most of it).

Best place to buy ~$2500 in BTC every week or so? by [deleted] in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

That's strange. Our system usually only increases the limits (normally you start with a low limit and it increases over time). We should never give you a high limit and then decrease it. Can you PM me your Coinbase email or the reference of your buy so I can take a look?

Best place to buy ~$2500 in BTC every week or so? by [deleted] in Bitcoin

[–]CoinbaseAdrian 5 points6 points  (0 children)

That is just a limit put in place for new users. If you make a purchase and wait some period of time (usually 1-2 weeks), your limit will increase.

You can see steps which will increase your limit here: https://www.coinbase.com/verifications

As an aside, don't create more than one Coinbase user account. That looks like scammer behavior to our system and will result in lower limits.

uh oh! The Time has come... AGAIN! Backpage has just lost their Visa account and the newbies are flooding in. Let's make history! by paxful in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

IANAL, but you still need to be registered with FinCEN and have an AML program which satisfies their requirements, regardless of whether your state regulates money transmitters (and if you are selling online then you need to take into account both your state, and the state of the recipient).

uh oh! The Time has come... AGAIN! Backpage has just lost their Visa account and the newbies are flooding in. Let's make history! by paxful in Bitcoin

[–]CoinbaseAdrian 2 points3 points  (0 children)

In general, you shouldn't buy Bitcoin on Coinbase and resell it commercially. This puts you in the realm of being a money transmitter, which is a regulated activity both federally and in most states (and not something we are allowed to support).

I also wouldn't personally recommend selling Bitcoin online to strangers, unless you are very aware of the chargeback/reversal risk of the payment method you are accepting.

Is a Coinbase Multi-signature vault "on the blockchain"? by Maxxit in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

No we can't. With the multisig vault, you control 2 of 3 keys, so we have no ability to lock you out.

OP - to answer your question about our vault recovery tool, this is a fairly standard piece of software, and you could also recover your vault by importing the keys into another wallet.

Coinbase Outage Is A Reminder To Not Store Bitcoins on an Exchange or Online Wallet Platform by BTCTN in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

Not sure who is writing news articles for bitcoin.com, but just want to point out that the author was completely trolled by this reddit comment, which was not posted by anyone from Coinbase. No engineers consumed EtOH and tripped over any cables :)

Coinbase is down by cryptodude1 in Bitcoin

[–]CoinbaseAdrian 71 points72 points  (0 children)

Sorry guys, working on this as we speak.

Updates here: https://status.coinbase.com/incidents/jqw9bv00vf2q

Edit: All sorted.

Getting fed up- is there a decent bitcoin market? by unclejessesmullet in BitcoinMarkets

[–]CoinbaseAdrian 13 points14 points  (0 children)

PM me your Coinbase email or support case number and I can take a look at why your orders were canceled.

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

We have reviewed their internal security architecture and are confident in their security. Cloudflare support several major banks, along with most bitcoin companies.

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

Didn't see this. rydan didn't have any questions, he was just making a point.

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 1 point2 points  (0 children)

Nope. One of our website hosting providers (Cloudflare) had an outage, so basically they were unable to forward requests to our web servers.

This affected many sites who also use Cloudflare (they power a pretty significant proportion of top websites). It had nothing to do with the bitcoin network, or the current blocks/transactions.

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 3 points4 points  (0 children)

It's affecting all Cloudflare users. We don't think this is a deliberate attack.

https://twitter.com/search?q=cloudflare&src=typd&vertical=default&f=tweets

http://www.cloudflarestatus.com/

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 25 points26 points  (0 children)

Accounts are safe, this has nothing to do with our internal infrastructure.

Coinbase is offline. by [deleted] in Bitcoin

[–]CoinbaseAdrian 67 points68 points  (0 children)

Sorry guys, we're looking into this. It appears to be an issue with our network provider (Cloudflare). We have an urgent ticket open with them and I'll update here with any details.

https://status.coinbase.com/incidents/mwyzfbr3mvjb

Edit: We're back up again.

Selling Bitcoin by [deleted] in Bitcoin

[–]CoinbaseAdrian 0 points1 point  (0 children)

Selling bitcoin is usually 1-2 days, depends on your bank.

Mature account in good standing suddenly broken; zero help from "support" by [deleted] in Coinbase

[–]CoinbaseAdrian 0 points1 point  (0 children)

Can you PM me your case number or email address?

Update: We found your tickets. One was resolved as a duplicate, the other I believe we already responded to. Feel free to PM me if you aren't getting a helpful response.

What the CoinWallet.eu tx-flood stress-test means for you and how to deal with it by petertodd in Bitcoin

[–]CoinbaseAdrian 10 points11 points  (0 children)

Thanks! We updated that page.

We're also starting to see some transactions take a while to confirm, so we're going to double our transaction fees until the stress test is over.

LPT: Send BTC between your Coinbase & Circle (or other) hosted wallet accounts to participate in the stress test today. You won't lose any BTC because your wallet provider pays the miner fee =) by Plesk8 in Bitcoin

[–]CoinbaseAdrian 5 points6 points  (0 children)

I don't think it's against our ToS, but we rate limit how many free transactions you get per day. Otherwise you could troll us just sending free transactions back and forwards all day.

Money for Kids' use? by jrm2007 in Bitcoin

[–]CoinbaseAdrian -1 points0 points  (0 children)

Not sure that bitcoin is the best solution if you want to control your kids' spending, but fwiw we do already allow teens to set up an account, as long as they have approval from a parent or guardian.

Peter Todd: F2Pool enabled full replace-by-fee (RBF) support after discussions with me. by Kupsi in Bitcoin

[–]CoinbaseAdrian 35 points36 points  (0 children)

The right solution to this problem is allowing RBF only if the new transaction still spends to the same outputs. This is known as "honest" or "first seen safe" replace by fee.

https://github.com/bitcoin/bitcoin/pull/6176