C0inbase closed my acct

[drjimmy1964]

I’ve definitely heard of it.  Coinbase does it regularly.  They have one of the best blockchain analyzers around and rent it to the DEA and other gov agencies.   Heard of Cashapp doing the same thing tho not near as often as Coinbase, and most of the time i’ve heard of it it was not related to btc but just cashapp to cashapp purchases.   One reason you must always send to an external wallet prior.  Sorry that happened to you and yes, hopefully it’s easy for you to hop on a different exchange!

@DoomKitty Funny (ironicish) I came in here to ask a sort of related question about cr1pT0 and your bank -  there’s a newbie in town down town (from  L@0 and A11ie l@nd) but uses Cr1pt something I love - but I had heard that your banks possibly keep an eye and can bl@ck u from a CoinB@ae.  I didn’t know CB is in the block game.   That’s as bad  as WU then!   But I do have CB and also a wallet in Bl@ckChain-  is what you’re saying  Is that  it’s smarter to move money to Cb and then to BC before vends wallet ?  I’m not terribly over educated with Cript.  But I don’t want CB bl@ck1ng me .    I thought getting away from WU would cure the blocking BS 

 

[drjimmy1964]

But can your bank decide sorry too bad no more trans. To CB for you ??  

 

[Garrygb]

Thanks for this case. I also have same situation!

 

[Rob0114]

But can your bank decide sorry too bad no more trans. To CB for you ??  

I am pretty sure they can and they can do even more  like simply close your account out......etc etc.....I won't get into all the details....but as someone whose credit etc was so bad that they couldn't even get a checking account at a bank I can tell you that banks/credit union can do prety much anything they want.....wheher or not it would be legal is a different question.  As someone with a bi of an IT background I can also tell you that in most cases anything which is stored or hosted on  somebody elses servers/computers despite protestations, disclaimers, laws or regulations, a person who has administrative rights or what some might call super user rights can access/see/manipulate pretty much anything within their provenance.....the only real exception that comes to mind right now is Apple with its encryption battle with the US government.  The government is upset with Apple because it won't reveal to them information needed to decrypt stuff encryped with their algorithms.  

Perhaps it would help folks understand Bitcoin/Crypto and Coinbase if they picture Coinbase to be just like a bank.... probably a better analogy would be a financial services company like Fidelity or TD Waterhouse and the 'private' wallets you have on CB being just like an investment account you t ehave with these financial institutions or like a checking or savings account you have with your bank which you access on line which store crypo currency instead of regular dollars and cens.  The same applies btw to any hosted 'private' wallet you have with any company like CB such as Blcokchain.com.

For those technically inclined I realize there are pleny of fine technical exceptions to what I've outlined here....like PGP etc etc......but I think its good for starters.  

If you are sending funds to vendors out of your CB wallet, or for that matter any hosted wallet its pretty much the same as sending from your online bankaccount, using WU or MG.....to get some level of anonymity you have to be transferring funds out of these hosted wallets to an 'ofline' or stand alone wallet like green wallet or Electrum first and then transferring from there.  FWIW I've intentionally not used technical terms such as 'public key' 'private key' or eve 'pki'--''public key infrastructure' here to make this stuff undersandable for the not so tehnicaally inclined.

 

[Garrygb]

In custom software development https://mlsdev.com/services/mobile-app-development, there is no one single individual or group that does all the work involved in software development. Different groups with expertise in different fields work on various aspects of the software. These developers specialize in the area of technology, information technology, business, database management, or programming and they are responsible for creating the final software product.

 

[patsummers]

They got me too a couple of years back and they still owe me $100 and every time I try to connect my debit card it just loops around I have two words for them but I'm not going to use them here cuz I might get banned LOL

I honestly don't remember how I did it but I got on to Voyager it is a mobile app and only a mobile app and I use them in conjunction with my mobile electrum and I've had several successful transactions. You get a nice discount on knockoff watches if you use crypto and I mean watches that only a jeweler can tell. So it comes in real Handy for that and other transactions........

You might do well to check Voyager out I'm trying to get my taxes done on their site right now not having much success but I'll figure it out sooner or later.

Everybody stay healthy.

 

[patsummers]

@DoomKitty Electrum is super confusing for me.  I will try Blockstream per your recommendation.

As a general update, nothing came out of the account closure. 

It's mostly all super confusing into me but, I have so far managed to get every transaction to work. When coin base kicked me off leaving me with $100 balance that I couldn't get to BTW, I tried several but they all turned me down until I landed on Voyager and I have been very happy ever since if I'm not mistaken they are even on the stock market I need to double check that though they have all sorts of little reward programs and stuff like that but the best part is they accepted my debit cards, gave me the ability to buy Bitcoin the minute I deposit funds. you can't sell the Bitcoin until a deposit clears but at least you have it in there if you're trying to invest or they'll hold it in cash  until it clears that's the worst part, waiting for it to clear ACH is a pain in the butt. Other than that I can deposit I can buy crypto and, if I have the funds to cover it I can send it to my outside wallet. they have been nothing but helpful, attending to every trouble ticket that I have submitted which is only about a couple and they are very good at explaining what's going on and I'm rambling it'searly and very little Ritalin. Thank you for reading if you did.

B

 

[Ironman]

/Coinbase is withowt a doubt the worst exchange. They have the highest fees in the industry and are known to work with the IRS and other gov agencies. It goes without saying, if you have any cash or crypto on Coinbase get it off like yesterday. They have frozen transactions at the gov's request and the list goes on and on. Not your KEYS, not your CRYPTO!

 

[Azzamean]

I'm embarrassed to say I did this for a long time. Now though, I use a wallet on my local. Luckily I never got my account closed but I would also ask vendors if they sent me a temp wallet or if it was permanent. Permanent wallets tend to be listed far more often than the temp wallets. Eventually when I got into XMR and other crypto, I just consolidated it all on my local machine. 

While it is still possible that you can see a BTC transfer go from Coinbase to local and then to whatever wallet, I don't think Coinbase goes that far in regards to banning accounts... Sadly I don't live in an area that has local BTC or atms so I really am stuck with like... Coinbase, Kraken, CashApp, or whatever online entity is out there than wants all my information.

If you are really wanting extra security you could transfer BTC to XMR and then back to BTC after moving.. I would think that is one way to add an extra layer. But good luck those fees will start adding up!

 

[Moving_On]

Basic rule (for US exchanges):
Never send directly from your exchange acct. Never. Through chainanalysis some exchanges (Coinbase) will track your expenditures and block acct if they deem it sketchy. Happened to me years ago with a totally legit transaction. Nothing I could do, and they kept some USD. Got crypto out at least.

 

[Deepnorth]

So quick question. Asking for a friend. They were using CB and it required recipient information. I told me friend I thought that was limited to certain countries. Does anyone know if this is now a “thing”. Was it just beta testing? Was it a wrong setting on CB? 
 

lastly if you have a wallet …are the same questions asked? My friend got it to work but it took many attempts.

 

[DJGK]

UPDATE:

Coinbase new rules starting 6/27/2022