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They tried. When you add another account, it never becomes an option to actually withdraw the money. So you go to withdraw, and there are no options there. C
by blhack 6y ago
They tried. When you add another account, it never becomes an option to actually withdraw the money. So you go to withdraw, and there are no options there. Click "add bank account" again, and it will appear to add it, but never become an option for withdrawals. Eventually, the message of "you have exceeded the number of times you can try to add a bank account. Please try again in 24 hours" appeared.
Seriously this has flabbergasted me and I don't know that I can continue recommending coinbase to people after seeing this. It is an unbelievable kafkaesque nightmare where you have half a million f*cking dollars that you are trying to withdraw from an institution that purports to be a type of bank...and the robot just can't do it. It's not that you're trying to do something weird, but there is just some bug preventing you from withdrawing your own money, with no real way to actually even report the bug.
It legitimately feels like a type of cyberpunk nightmare. You can see the money, it's yours, but you can't have it, and there isn't even a person you can talk to to help you. Don't worry, funds are safe. They're yours. You just can't have them. Oh and also btw: you owe taxes on them lol. Good luck!
- vmception 6y agotl;dr basically your friend never even emailed them about it and lets you run around "completely terrified" and "flabbergasted" because everyone is so uninspired to fix it. mmmk
- boring_twenties 6y agoNot sure why you'd post a pointlessly inflammatory comment like this. Coinbase is well known for failing to respond to support inquiries for weeks or months.
- zionic 6y agoIt's just that OP's comment makes no sense. Losing a bank link somehow still leaves you about a dozen options that don't involve waiting on coinbase support. If I had half a million in cash stuck on coinbase/unable to ACH home I'd withdraw to ETH/DAI within 10 minutes.
- boring_twenties 6y agoIf the goal is to withdraw to fiat, and Coinbase is your only fiat ramp, I don't see how withdrawing to an ETH wallet helps.
- blhack 6y agoAnd then do what with it? Do you think most people selling land in northern Minnesota accept “dai” as payment?
- vmception 6y agoand then you use a different exchange. Square’s cash app accepts Bitcoin deposits Kraken exists Gemini exists And if you were moving larger amounts there are dozens of OTC desks, some of which are operated by the above companies including Coinbase. The point of them mentioning Dai is to have stable value long enough to figure out what the next move is
- blhack 6y agoMy friend did email them. A “specialist” was assigned 2 days ago. But there is high support request volume, you see.
- boring_twenties 6y agoWow, that's just bizarre. There's still my second option though, open a Kraken account and transfer the crypto there. Do your own research as always, but Kraken has been around since 2011 and has a solid reputation -- I've never heard of anyone losing their funds. It's not as slick as Coinbase, and used to have a well-deserved reputation for somewhat frequent outages (rare nowadays). Additionally you'll have to pay for a wire transfer to withdraw fiat ($5 to Kraken, plus whatever to the receiving bank). Presumably, in this case none of these would be a serious concern. In the plus column, their customer support is quick to respond and actually helpful, unfortunately a rarity in the crypto world.
- chrisco255 6y agoWhy not just withdraw to an Ethereum wallet and either leave it there (in stable coins or whatever) or again, as OP suggested take the route: Coinbase -> ETH Wallet -> Other exchange? Max fees would be like $50 for such a transaction.