r/Coinbase

I have had the Coinbase One card since they first came out and have had no issues until now. I tried to use my card last night and was declined but had no reason why. Called customer service today and lets just say I have issues now. First issue, customer service needs to come back to America. I don't like this with any provider because you can never fully understand the representative without having to guess half the time or make them repeat a few times and still have to guess what they are saying. My second complaint is the representative told me that it was a security issue by American Express themselves and Coinbase couldn't do anything and found no issues on their end with my card. He couldn't give me details about whatever this security risk block was. It was a well known company and I have numerous transactions from the same vendor. I asked should I be contacting AMEX and he said he wouldn't recommend that. If it is AMEX that is blocking my purchases and Coinbase can't do anything then what is the point for Coinbase? Why aren't they having you contact AMEX directly since they are the ones that can do anything or get more information about how this doesn't happen again. Pretty ridiculous and frustrating when you basically can't do anything about an issue that shouldn't happen and only makes me feel embarrassed even though I shouldn't because I know I have the money and it isn't my fault. Thank god I diversify and have access to other funds but I shouldn't have to. First world problems rant but it is annoying. Wanted to share because I feel it is the only thing I can do, which is call the companies that make millions out on the carpet for everyone else to see.

With this being said, we as American's need to start making our voices heard with issues that really matter. Come together and make these government agencies and corporations actually listen to us to make changes. We need to do it the right way though. #Coinbase #CoinbaseOne #CreditCardIssues #SpeakUp #AmericaFirst #StopSittingIdol

I used Apple Pay to instant transfer funds into my coin base debit card. It’s been 2 hours and still nothing funds available. Customer service is pointless. All they say is “it shows cleared on my end, please allow a few more hours”

Coinbase is the best at holding your money and taking their sweet time. Worst experience ever.

I've seen mixed answers on this, but hoping to get a definitive answer.

For a regular way US-based tax resident, do wash sale rules apply to Coinbase crypto perpetual futures? I understand they do not apply to crypto spot trades as it is considered property, but some online sources say perps are securities and so subject to wash sale rules.

For example, if I realize a loss on the sale of a BTC PERP, and then immediately re-buy BTC PERP again, is the loss disallowed?

It would be useful if anyone had this experience in 2025 and know how it was treated on their 1099-B. Thanks!

It is my first time writing a review because everything with coinbase is just so exhausting. Since the end of october, I was asked to provide documents regarding source of funds. I understand the requirment of KYC so I continue to provide the documents. Each time, I was asked for more documents and more intrusion of privacy. Whenever I submitted the documents, it provides an email saying that the documents is under review and I am allowed to trade. This changed in mid January. Prior to the deadline, I was suspicious of whether they received my newest documents because I did not get an email confirming the receipt. I contacted coinbase multiple times and each time I got the response of the compliance team is reviewing the documents. After the deadline, my account was restricted from trading. I submitted CFPB complaint but the response I got was that some of the documents were never received. I resubmitted the documents and I got the response of we need more. It has been about 4 or 5 months since October. I finally gave up. I tried to withdraw my USDC but the response on the screen was that something was wrong. I contacted the customer service again but no solution was provided. I suggested that they could remove the restriction temporarily and allow me to withdraw my USDC. No one answered since. I have been using coinbase since 2021. I did not believe the stories of people when they said that their issue never got resolved because I never had to deal with coinbase customer service in the past years.

I want you guys to be aware that it is just not have happened to you yet. When it comes, it is a tremendous stress to deal with coinbase. I hope I have never used coinbase in the first place.

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Linking my bank account but it doesn’t show to make a deposit.

I lost control of my Coinbase Account when I asked that it be locked during a takeover by a scammer. The scammer had me convinced he was a Coinbase rep, but I figured it out in time. I am still not sure how I wound up with him on the phone. I called the wrong number somehow. He was very convincing, even giving me his employee number at Coinbase, so on, and so forth. He put a 2FA Google Authenticator on my account and might have changed my account details so they would not compare with my driver's license. I came out of it fine, Coinbase Escalation guys removed the Google Authenticator which was placed on my account using someone else's iPhone, not mine. I needed the original Coinbase Support staff to forward me to Coinbase Escalation to get all that crap cleaned off my account. I now understand why CB is so quick to delay transfers etc, etc. The number of scammers, and the skills of the scammers is unbelievable. The scammer called me back 3 times after I hung up on him. I give much thanks to the Coinbase Escalation team for straightening my account and getting me going again.

Just went to buy some Aave on Coinbase, no issues. Then I noticed the Pi token, so I decided to buy a little too. Imagine my surprise when the fields on the trade page got all whited out, with the following below:

"You are ineligible to buy Pi "

No explanations. So I have been with the Pi project for years, ran a node until recently, was and am into it.

So is it that I reside in the US, or is there some cutoff like you need to have over $50K in assets? Really this makes no sense

Woke up Sunday morning to an email from OKX compliance. Subject: "Enhanced verification required for your account." I almost marked it as phishing because it's a Sunday and the formatting looked slightly off.

It's real.

They want documentation on a USDT deposit I made on October 3rd 2024. Amount was roughly 3,100 USDT. It came from my Binance account (which I don't actively use anymore) after I moved part of my stack to OKX to try their perp markets. I have 14 days to respond with bank statements, exchange records, and "proof of legitimate source."

Here's what makes this spicy. I have the Binance records, but I off ramped that original fiat position through a P2P trade in early 2023. So the chain of custody looks like: bank to P2P trader to Binance to OKX. Every leg is real and I have receipts, but explaining a P2P trade to an exchange compliance team that has probably never bought crypto with fiat is a fun Sunday activity (sarcasm).

I've already:

Pulled my Binance export (Oct 2024 withdrawal confirmed) Found the P2P trade screenshot from my Google Drive backup Verified the OKX email headers are legitimate (DKIM passes, originates from their comms domain)

What I don't have is a "clean" bank to exchange flow that a compliance reviewer who has never held an actual stablecoin will immediately approve. I know people who have been locked out of exchanges for months over reviews like this one.

Funds currently on OKX: not disclosing the exact number but it's meaningful for me. Not life ruining, very much not "I don't care if it's gone."

OKX, I get that regulators are hammering you (your India FIU pullout was only months ago, I'm paying attention). But 14 days to produce source of funds on a 14 month old deposit is rough. If this was ever going to be reviewed, it should have been flagged at deposit time.

Going to submit the full package Tuesday after I re verify the paper trail with a lawyer friend who does crypto compliance. Posting the outcome either way because every thread I've searched on this stops at "I submitted documents" and never says what happened next.

If your SoF review resolved, how long did it actually take? Did they ask for more after the first submission?

For months now I could reliably sell a little coin and withdraw cash when I needed.. the whole process was like 15 minutes.. once I had cash in the cb account it's pretty instant.

Today I tried two times and both have been stuck on pending for hours.. should I not be relying on this flow or is there something wrong at cb?

​

A new L1 has been built apparently where finality happens in under 50 milliseconds and it changes how fast ideas become real.

Most people don't believe it. Just like, not believing people could fly the day before they saw an airplane. Innovation is a wonderful thing.

Just tried to buy $50 of USDC paid for from my linked bank account. However I got the error "We're unable to process your transaction at the moment. This is due to insufficient funds with your selected payment method.". Worked fine yesterday for $70 worth (and $400 last month) and I have PLENTY in the bank to pay. Do I just try again tomorrow or did I somehow get on someone's naughty list? Not really experienced with how coinbase handles things.

Fees are ridiculous, support is outsourced and incompetent, rewards don’t get paid (which is somehow never Coinbase‘s fault). If you send something to Coinbase you have to pray that it arrives. Absolutely ridiculous. Should’ve put money into memecoins, would’ve been better off that way.

Last Wednesday I initiated a USDC to USD off ramp on Kraken. 42,000 USDC, going to a bank account I've used on that exchange six times over 18 months. The conversion happened, the fiat sat in my Kraken balance, and when I hit withdraw I got "your account has been placed under enhanced verification review." Withdraw button greyed out.

Same ACH destination. Same ID on file. Nothing changed on my end.

So I did the usual tour. Submitted a verification request with my ID, proof of address, and the wallet addresses the USDC originated from (my own hardware wallet, on chain provable). Their chatbot told me to wait 72 hours. 72 hours later, nothing. Opened a ticket. Got a canned response about "ongoing review." Tried their priority support since I'm Pro tier, and the priority support email bounced back auto responded with "we will respond within 5 business days." Cool.

Here's the part that's been chewing at me. The reason I was off ramping that USDC was to lock in gains before the FOMC meeting. Which has now happened. USDC is still fine, the fiat is still in my account, but the window I was trading around is gone. Opportunity cost on a $42k position with a ~40bps expected move is real money.

Kraken, I get that compliance is hard and I know the regulatory pressure is genuine. But "enhanced verification" for a withdrawal to an account I've successfully cashed out to six times prior is not a compliance move, that's just risk theater.

I've watched this exact pattern play out on Coinbase, Gemini, Binance US before it died, and now here. The off ramp risk is the single biggest thing nobody in the stablecoin newsletter crowd talks about. Self custody all you want, but the moment you want to eat or pay rent you have to go through a CEX gate that can just slam shut with no SLA.

For anyone reading this who's currently stuck in an off ramp lock, what worked for you? I'm told Kraken Pro has an account manager channel that actually responds. Anyone forced resolution through that? CFPB filing is my plan for day 10 if nothing moves. Filing template in the comments below if it helps anyone.

I didn't have to file this year, no activity, no 1099, but I just sold a small amount of BTC, so I will need to file for next year....and noticed there's an option to "Review and update missing cost basis info" in Coinbase in the Taxes/Activity section.

I'll be using SUMM to help with proper cost basis when tax time comes (already subscribed and linked accounts to see how it works), and wondering if it's worth filling in the cost basis in Coinbase or not?

This message appears on that screen, so does anyone fill this in? My sales of BTC are from coins transferred in from a hard wallet, so Coinbase doesn't know the cost basis.

*"*You're NOT required to update this on Coinbase. We only provide tools to help you track your gains and losses, but you can use your own methods or consult a tax advisor."

Clearly no hurry, but wondering what the point is of entering if Coinbase isn't going to use my # on the 1099 next year anyway.

Coinbase -

What will happen to the AERO currently being held when the merge happens in July with VELO and multichain?

Will Coinbase automatically convert AERO into the new AERO token ?

Hi,

Has anyone actually won any type of giveaway even the $100 ones ?

I’m a Coinbase one member and max out the entires. I doubt I’ll ever win right ? lol. I feel like there’s not as many people with Coinbase one annual membership as like let’s say lottery.

Anyone had good luck and won anything ?

According to grok it was like 600k in 2024 and 1 mil in 2025 subscribers