Coinbase Users Are Facing Withdrawal Issues
Cryptocurrency, News

Coinbase Users Are Facing Withdrawal Issues

Coinbase is allegedly not allowing certain users to withdraw over $10 for each day. This information was provided by someone via Reddit on February 2. The individual is a self-described Coinbase user. According to the individual, Coinbase did not authorize an application for higher withdrawal limits.

The individual provided evidence to the claims – a supposed screenshot showing that the maximum amount of daily withdrawal was $10.

People have been commenting on the issue, with many of them appearing skeptical about the services of Coinbase. Some users are anticipating Coinbase’s enforcement of more similar restrictions if the prices of cryptocurrencies attain all-time high levels. However, some users think that a $10 daily withdrawal limit is a “literal scam amount.”

Coinbase was yet to say anything about the issue as at the time of writing. The firm’s headquarter is in the U.S. and is at the moment one of the leading digital asset platforms in the country. The firm claims that its services are available in over 100 countries.

It was announced that both the firm and Ripple are collaborating to promote blockchain and cryptocurrency adoption in the U.S.

Rachel Nelson of Coinbase and Breanne Madigan of Ripple announced that both firms had formed the Market Integrity Working Group towards the improvement of market integrity and the provision of confidence.

Apart from Coinbase, another cryptocurrency exchange faced complaints related to withdrawal in recent times. In the previous week, it was reported that renowned cryptocurrency exchange LocalBitcoins was suspending user accounts. Some users said a minimum of 14 days is the waiting time for the deletion of their accounts to withdraw their Bitcoin.

Featured image courtesy of Shutterstock.

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A creative writer in the field of content writing for the past 7 years. Iulian is passionate about his work and his interest in areas such as technology, travel, sports, literature and gastronomy have aided him to the research quality in articles that reflect these themes. Recently, he discovered the Bitcoin and the blockchain technology and he’s a big fan now.

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