Topic: Is it normal for coinbase? (Read 1493 times)

Rees replied:
Hi there,

I apologize for the confusion, and I'm sorry to hear that your purchase was cancelled. All risk analysis of purchases is performed by our self-learning risk-detection algorithm. Sometimes a bank transfer can be canceled if it hasn't yet identified your account as a trusted payment source. This aspect of the site is beyond our direct control and has nothing to do with factors such as market price. Because of its fluid nature, it is fairly impossible to predict how it will react on any given day.

Since we deal with Bitcoin (non-reversible transactions) being paid for by bank account transfers (potentially reversible transactions, even after the transfer is complete), Coinbase is constantly under attack by scammers attempting to defraud us of Bitcoin. As a result, we've been forced to implement these strict automated security measures. Please also note that Coinbase is not registered as an exchange or bank; we do NOT hold customer USD. All bank transfers are done via the ACH banking system, which takes 3-7 days to transfer money in either direction to/from your bank account.

While a further review has indicated we are unable to activate your account's ability to make purchase and sale orders at this time, please note that you may still use your hosted wallet to send and receive BTC on the bitcoin network.

If you have any further questions, please feel free to get back to me anytime on this matter and I'll be happy to help.
-Rees D. Sloan

Customer Support Specialist

They dont explain how you can gain a bigger spending limit?

Thats some bull crap.

Alex replied:
Hi there, I apologize for any inconvenience this has caused.

It looks like your transaction was canceled due to appearing high risk, and if you were charged a refund has been sent to your bank account. All of our risk analysis is performed by our self-learning risk-detection algorithm. Coinbase is constantly under attack by scammers attempting to defraud us of Bitcoin, and as a result we've been forced to implement automated security measures in an effort to protect the community and our site.

I know this must be frustrating to happen, but unfortunately we cannot yet guarantee the completion of every bitcoin order or the verification of every account due to the high risk nature of selling bitcoin online. Thank you for your understanding in this matter.

Daniel replied:
Hi Phuong,
I apologize for any inconvenience this has caused. I've escalated your ticket - you should receive another response soon.

Just did google search for the keywords you wrote. Didn't expect to see so many negative feedbacks   I'm not alone with this. And who is Olaf? There was a message that he can help me.

I heard a lot about that a few months ago, but they've improved their detection algorithm since then. You can try emailing support and ask to be whitelisted, but past that I'm not sure if there's anything you can do. I've never had that problem with them, so I didn't look too closely into the resolution of it back when it was more common. If you do a few searches for "coinbase high risk" you may be able to find something useful however.

Every transaction was cancelled due to high risk. They don't send bitcoins on high risk transactions.

I've never had anything like that happen to me. Do any of your transactions list the reason why they were canceled?

So what was the actual response from support?

post what they said in the email.