Although Coinbase is thriving on the expansion path as it spreads its services to a new office in Portland, existing users experience exchange difficulties for reasons such as user identity, transaction fees, and age restrictions. By announcing this through Reddit, a lot of traders have revealed that it is difficult to buy, sell & send.
Problem with identity
A disappointed user made a post, revealing that after providing an identity document for buying bitcoin the system continued to ask the same several times. In his words:
Coinbase keeps asking for my ID again and again. Upon confirmation, he immediately asks for an identity document again. I just want to buy and use Bitcoin – how can I do that? Are there other apps that make it easier? Why is it so hard?
While other users have explained that the problem may be the result of user browsers, others have quickly noticed that Coinbase’s application is aware of its problems with persistent mistakes. Another user indicated how expensive the transaction fees were, revealing that he paid $ 7.34 for a small BTC purchase.
Restricted Age
Seeing that the younger generation is making a good percentage of the crypto market, Coinbase may lose out on their profits with its age-limiting policy that forbids merchants under the age of 18 to use the exchange. Recently, more than a few underage dealers have voiced discontent because of their inability to access their funds after depositing them on the exchange platform.
My personal experience
I’ve been using Coinbase for 1 year. I registered in 2017 December and since then I never had any problems with the platform. I’m always transferring money from bank to Coinbase account and so far everything is good. I’ve also read a lot comment regarding the support system in coinbase. People having no access to their account which is an issue when the support is slow. My worst experience so far was with Poloniex, I never received my crypto in the wallet. Waited 3 months for an answer. (After long waiting the crypto was finally in my wallet but I never used the platform again)