It seems that you're not the only one who had some issues using Coinbase over the past few days check this Reddit post below
- https://www.reddit.com/r/CoinBase/comments/141ekq8/are_your_buys_disabled/
It seems they become more strict in regulating users after being sued by SEC. So I think this is just their security procedure to follow the SEC rules and regulations.
Topic: Coinbase: I can't withdraw my funds via PayPal - page 2. (Read 267 times)
Yes, I think this is it. But I can't figure out what, since I've apparently never violated the regulation.
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Since this is related to your crypto deposit, it's probably because the funds are connected (and I could be wrong) to a mixer, a gambling site, etc. It doesn't necessarily have to be a direct connection either so maybe you received funds from someone who dealt with the services I mentioned.
Thank you all for your messages.
However, I have received some emails from Coinbase support where they have asked me a lot of questions, which I have answered.
In the last email they told me that I have to wait 5-7 working days for the problem to be resolved. I hope it's like that. The fact is that I needed the money now, not in 7 days.
They tell me that if I can't withdraw via PayPal in 7 days I can do it using another method. But at the moment everything is blocked: I can neither buy nor choose another payment method, nor send cryptocurrencies to an external Bitcoin address. In short, I can only deposit and convert cryptocurrencies into Euros. But I can't withdraw.
I keep you updated. I hope everything works out but I'm not very hopeful.
Usually, when an exchange does that, it's because they detected suspicious activity with your transactions or account. Have you tried calling them?
Yes, I think this is it. But I can't figure out what, since I've apparently never violated the regulation.However, I have received some emails from Coinbase support where they have asked me a lot of questions, which I have answered.
In the last email they told me that I have to wait 5-7 working days for the problem to be resolved. I hope it's like that. The fact is that I needed the money now, not in 7 days.
They tell me that if I can't withdraw via PayPal in 7 days I can do it using another method. But at the moment everything is blocked: I can neither buy nor choose another payment method, nor send cryptocurrencies to an external Bitcoin address. In short, I can only deposit and convert cryptocurrencies into Euros. But I can't withdraw.
I keep you updated. I hope everything works out but I'm not very hopeful.
Maybe they disabled PayPal withdrawal for everyone as they didn't mention that only you have been disabled.
Chances are that they would make some sort of announcement if they disabled PayPal for everyone and not just for him (which doesn't make much sense imho, to block paypal for one person).I contacted support via chat, but bots responded telling me that my problem was taken care of and that they would contact me via email. I am very worried because I am afraid that my funds will be blocked in the account without being able to withdraw them in any way.
All that you can do now really is to wait for their reply. It is possible that Coinbase will ask you for sme additional verification in order to regain full control over your account but once again its proven that keeping your money on CEX is risky, even if its one of the most reputable exchanges like Coinbase. So I thought about buying Bitcoins and sending them to an external address, but I can't make purchases and I can't send cryptocurrencies. In short, everything is blocked!
Maybe they disabled PayPal withdrawal for everyone as they didn't mention that only you have been disabled. Another question is why you can't buy buy and send them to other wallets. Maybe only you are restricted for withdrawal. That's why I don't suggest to store funds in any custodial wallets. We should keep as much as we can afford to lose or should withdraw immediately after closing trading positions.And don't worry about this because sometimes if custodial wallets detect suspicious activities then they disabled withdrawal temporarily. And hope support team will resolve your issu asap as Coinbase is a well-known, trusted and reputated exchange so far.
After the announcement of EDX markets and the pursuance of Coinbase and Binance by the SEC, PayPal have probably cut ties with Coinbase or even limited their api/company accounts. That is if the issue is not specific to you, and everyone has the same issue.
Another problem might be kyc/identity. If the name on your PayPal account doesn't match, or the amount was large, that'd make sense too.
Another problem might be kyc/identity. If the name on your PayPal account doesn't match, or the amount was large, that'd make sense too.
I don't use Coinbase but what are the errors you're getting when trying to withdraw to an external address? I would imagine they at least sent you an email explaining why your account got blocked and the steps to follow to unlock it.
Usually, when an exchange does that, it's because they detected suspicious activity with your transactions or account. Have you tried calling them?
Usually, when an exchange does that, it's because they detected suspicious activity with your transactions or account. Have you tried calling them?
Good morning everyone. I write this post to share an unpleasant experience with you. I'll start by saying that I've never had any problems with Coinbase, which I consider a serious and reliable platform. I have always carried out my operations with the utmost tranquility and confidence, and nothing has ever gone wrong. But yesterday, here is the wet blanket. I go to withdraw my funds using PayPal (which I always do) and I get this error:
The fact is that I can't use any other payment method because, after entering my bank details, it tells me that this function is also disabled. I have no debit card.
So I thought about buying Bitcoins and sending them to an external address, but I can't make purchases and I can't send cryptocurrencies. In short, everything is blocked!
I contacted support via chat, but bots responded telling me that my problem was taken care of and that they would contact me via email. I am very worried because I am afraid that my funds will be blocked in the account without being able to withdraw them in any way.
I ask you: has something similar ever happened to you?
Quote
An error has occurred
PayPal withdrawals are currently disabled. Use another payment method to withdraw funds.
PayPal withdrawals are currently disabled. Use another payment method to withdraw funds.
The fact is that I can't use any other payment method because, after entering my bank details, it tells me that this function is also disabled. I have no debit card.
So I thought about buying Bitcoins and sending them to an external address, but I can't make purchases and I can't send cryptocurrencies. In short, everything is blocked!
I contacted support via chat, but bots responded telling me that my problem was taken care of and that they would contact me via email. I am very worried because I am afraid that my funds will be blocked in the account without being able to withdraw them in any way.
I ask you: has something similar ever happened to you?
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