04/06/19 07:23 UTC-4

Users accuse Coinbase of secretly changing bank transfer conditions

Coinbase accused of secretly changing the conditions of a bank transfer
Coinbase accused of secretly changing the conditions of a bank transfer

On June 3, one of the users on the Reddit social news site published a charge against Coinbase, claiming that it was secretly changing the conditions of a bank transfer. The publication came out after a recent experience with the new terms of a bank transfer on the stock-exchange.


Coinbase Transactions

The TNGSystems user stated that the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
process was previously simple and easy. "When you send invoices by bank transfer, they appear within an hour, and then you deposit them into Coinbase Pro (formerly GDAX), and then send them to Binance or somewhere else." – He wrote.

Interesting in the section: Coinbase Cryptobusiness Exchange: an overview of the exchange platform

The procedure has changed, and after the transfer Coinbase will block the funds received for 5 days. Users cannot transfer funds anywhere, even to their Coinbase Pro account.

"Your only choice is to convert directly to ETH or BTC from Coinbase and pay commissions, which are about 4%" – added TNGSystems.

When the user contacted support, he received the answer: "In orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
to secure your account and prevent possible fraudulent activities, you will not be able to withdraw these funds or send the amount of this deposit from Coinbase within 5 calendar days."

On June 3, users accused Coinbase of secretly changing the conditions of a bank transfer. Coinbase will make you pay 4% commission, because you cannot even return to your bank account. Your money will remain in limbo for 5 days, and the only way to get out of this situation early is to pay 4% of the commission.

Recall that on May 21, Coinbase Commerce announced that any business using the company's services can now start accepting USD Coin, a stable coin, in exchange for goods and services.

Editor: Yulia Krasnaya

See also: "Bittrex, a leading crypto exchange, offers a 0% commission for trading in a new promotion"

#exchange #Coinbase #cryptocurrency #transactions #Reddit



Hypes, funds, fiat money