Coinbase Users Are Reporting Withdrawal Issues

October 16, 2018
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Some Coinbase users have been facing withdrawal issues. Customers wanting to withdraw digital assets from the platform are experiencing delays. The information has been recently released by CryptoGlobe quoting sources in contact with the news site. The users affected are U.S.-based.

Coinbase Users Face Withdrawal Issues

According to these reports, Coinbase clients in the US states are facing delays when they want to withdraw funds from their accounts. Some users have even reported withdrawal delays of up to a week. Other customers couldn’t have their funds for over two weeks.

The reports come from users on the Coinbase platform. There were no reports on the Coinbase Pro platform, that allows users to trade virtual currencies. Using Coinbase Pro, withdrawals in virtual currencies are executed immediately.

This is not the first time that Coinbase is having problems with the services it offers. Back in December 2017, when virtual currencies were exponentially growing, the platform experienced different issues. The platform was not properly working. Customers experienced delays with transactions and problems while trading.

Later on January 11, Brian Armstrong, Chief Executive Officer and Co-Founder of Coinbase introduced Dan Romero. He is currently the General Manager of Coinbase and in charge of improving Coinbase customer experience.

On the matter, he explained:

“In November and December, we grew our support capability more than 60% which was meant to be sufficient based on peak 2017 support volumes we had experienced. But transaction volumes in November and December grew by 295%. This led to many customers experiencing long wait times from hearing back from our customer support team.”

Later in June, Tina Bhatnagar, VP, Operations and Technology at Coinbase, informed that the firm opened a new office in Portland. This office has been specifically designed to host different business-related functions. This new office will also be focused on customer support among other fields.

In August, some reports showed that Coinbase trading volumes dropped 83% compared to January. That means that the current problems are not related to an increased activity on the platform.

Clearly, the company needs to improve how the platform works and offer better customer support. If a new period of increased activity starts, Coinbase could face new issues with its services.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.





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