Topic: Coinbase freezing my funds at every opportunity. Any work around? (Read 191 times)

That's definitely an option, but the decentralized exchanges that do offer fiat to Litecoin pairs are very illiquid, which might result in paying extreme premiums. And then there is the question of how decentralized your trade is when you use a centralized financial institution to transfer the fiat from one to another account.

OP just needs to walk himself through the verification steps on an exchange as Coinbase Pro or Bitstamp once, and from there he can buy and instantly withdraw at any time of the day.

I've heard similar stories regarding purchases made with various fiats, and converted into cryptos, being delayed by Coinbase and put on hold.

Personally, I understand from the perspective that they are trying to minimise the risks on their end in terms of fraudulent activity by the user, as well as potentially stolen identities/credit cards/bank funds. But at the end of the day, doesn't it defeat the purpose of using coinbase, given the fact that their purchases using fiat is supposed to offer convenience more than anything?

Not to mention their track record of suspending accounts almost arbitrarily, whenever they see a suspected transaction to even gambling sites, which is none of their business; and being extremely unresponsive on their support end.

All you can do is wait. If you are continuing with their service in the future, it may result in less instance of frozen funds, but is it really worth it?


This has absolutely nothing to do with Coinbase APIs. Read the OP.

Why not instead buy litecoin on a decentralized exchange and move it to a wallet that allows you control your private keys? I guess you took this decision because you are newbie.

Just buy your litecoin from decentralized exchange and store in a good wallet, then control your private keys and no one will freeze your fund or prevent you from spending it how you want .

Coinbase has some problems with the connection between API and web pages.
You always can check his status page: https://status.coinbase.com/ just to know if they have a problem with the service functionality.

OP, coinbase is known for doing this.

I've personally been subject to one of their "security" policies where they would keep withdrawals pending for 72h while you can do absolutely nothing about it, similar to your case where your funds are essentially frozen.

Unfortunately, that's the situation with Coinbase right now. It's really gone downhill given all its suspensions, frozen funds, and terrible customer support. I'd strongly suggest not using it in the future if I were you.

If you are looking for a quick transaction and don't care much about rates, always look on p2p trading sites. Localbitcoins is a good option.


He probably means Coinbase by CB.

What do you mean by "CB"? is it a CB bank from Myanmar? It looks like your country is not listed yet on their supported countries from here https://www.coinbase.com/global#

So this might be the reason why your funds are stuck or freeze.

Try to contact the Coinbase support https://support.coinbase.com/customer/portal/emails/new
Try to tell them about your issue.

I think you should contact Coinbase support before you write it here. I'm sure they'il tell you where the problem is.

When you buy coins on Coinbase,
if you use your bank account # to purchase litecoin , they make you wait a few days before you can use it.
if you used your credit card or even a debit card to the same bank account, the purchase & access is almost instant.
The only other draw back would be if you did not fill out all of their KYC questions, if you have not filled all of it out ,
they restrict you from sending the coins out of coinbase until you do.

Is Coinbase Pro available where you live? It's a separate interface and may require additional verification beyond Coinbase's normal site. Once verified, deposit/trading limits on Coinbase Pro are unlimited and withdrawals are limited to $10,000 per day.

I bought some litecoin for a transaction that I need to make somewhat quickly, and was dismayed to find it would only let me spend around $50.

Fortunately, I had another $50 in my USD wallet, and Coinbase said that money would be available instantly.  I could make a portion of the purchase now, and the rest later, with some additional cost and inconvenience.

What they did not say was that they would make a commensurate amount of previously purchased litecoin unavailable, and so my spending limit did not increase.

I presume that had I spent the litecoin available to me first and then bought more with my USD wallet, then I would have been able to withdraw litecoin twice.  However, because I added more first, it appears coinbase took the opportunity to shrink my limit.

Now I don't have enough to make even a partial purchase.  I withdrew what I could, and I'm wondering if there is any way to get a bit more in there.  (CB won't let me put the money back in my bank account either.  I'd hate to be poor and dealing with this company for any significant amount of money.)

There's a bitcoin ATM that appears to be run by CB in my neighborhood, but I don't want to use it, because I assume that even if I put cash in there. they are just going to hold it for two weeks, ostensibly to prevent fraud.

I'm considering buying more litecoin, to see if they'll make another portion available to me, but, for all I know, this time they won't..  It's not clear from their docs, so I assume they won't, if past performance is any indicator.

I was hoping that someone with some experience with these matters may have an idea.

Thanks in advance.