Frequently asked questions about Coinbase

General questions about Coinbase

• ❓ What is the Coinbase vault?

  The Coinbase Vault is an extra account that requires two-factor authentication. It's less convenient than the standard Coinbase account, but it allows you to store cryptocurrencies securely with greater peace of mind. Any user on Coinbase can use the vault. [Edit]

• ❓ What jobs does coinbase offer?

  Coinbase is a cryptocurrency exchange platform where you can buy, sell, and trade cryptocurrencies. This company prefers to hire employees for positions in engineering, finance, compliance and legal. [Edit]

Questions about Accounts & Settings

• ❓ Is coinbase allowed to lock my account?

  Coinbase is allowed to lock your account if it suspects suspicious activity or your account could be compromised. To lift your restrictions early, contact support. [Edit]

• ❓ How can I delete my coinbase account?

  To delete your Coinbase account, log in to your account and go to the “Delete Account” page. This will take you through a series of steps to confirm that you want to delete your account. If you have any funds stored in the wallet associated with your account, they will not be deleted. They will become inaccessible after the next three months. [Edit]

• ❓ How can I change my address on coinbase?

  If you’re using the Coinbase web platform, you can go to Accounts and then click on “Send” or “Receive.” After that, just select the account you want to send from and copy & paste your wallet address into your clipboard. Then, go back to your other screen where you’re trying to send from and paste your new wallet address into the “Recipient” box. [Edit]

Questions about Buying, Selling & Trading

• ❓ How do I buy Bitcoin on Coinbase?

  Coinbase allows you to buy Bitcoin and other cryptocurrencies by linking your bank account or credit card to the site. You can also sell your cryptocurrencies on Coinbase and withdraw USD/EUR back to your linked bank account or credit card. [Edit]

• ❓ Can I do margin trading on coinbase?

  Coinbase does not currently support margin trading. However, the platform had already put this feature and only disabled it recently due to changes in their regulatory environment. [Edit]

Questions about Currencies & Coins

• ❓ Can I buy Ethereum on coinbase?

  Yes, you can buy Ethereum on Coinbase using your bank account or credit card. [Edit]

Questions about Service & Support

• ❓ How can I contact the coinbase support team?

  You can contact Coinbase with the information on their support page. You can also chat with someone live through the "Help" menu. When opening this page, click on your username at the top right corner of the screen and select “Help” from the drop-down menu to access any existing chats or start a new one. [Edit]

Questions about Deposits & Withdrawals

• ❓ How do I transfer money to coinbase?

  To transfer money to Coinbase, you must first create an account and link a bank account or credit card. You can then buy cryptocurrencies and sell them on the platform at market price plus a small fee. [Edit]

• ❓ Why is my coinbase account restricted from sending currencies?

  Your Coinbase account is most likely restricted if you are unable to send cryptocurrencies. There are several reasons why your account can be restricted, but usually, it has to do with sending coins to an unconfirmed address or sending coins that exceed the weekly limit. [Edit]

• ❓ How to add a bank account to coinbase?

  It's easy to add a bank account to Coinbase. You must first complete the verification steps and then select the type of account you want (checking or savings) and where you live. [Edit]

• ❓ Can I withdraw money from my coinbase account?

  You can withdraw money from your Coinbase account by linking it to a bank account or credit card. To withdraw cryptocurrencies, you will need to get verified first. [Edit]

• ❓ How do I move BTC from Coinbase to a wallet?

  If you want to move BTC from Coinbase to another wallet, go to the "Send" tab and enter the recipient's address. You can always check your recent send activity on this screen. [Edit]

• ❓ Why is my Coinbase deposit still pending?

  Coinbase withdrawals can take several days to complete after initiating them. If your deposit is still pending, it has not been cancelled or rejected. It may just need some more time for this transaction to be completed. [Edit]

• ❓ Why does it take so long to add my deposit?

  It can take a long time to add a deposit if there are network issues. Described transactions will remain in the local database until they're sent out, included in a block, or an uncooperative peer cancels the transaction. In some cases, it may even be necessary to manually remove stuck transactions from the transaction pool so that future transactions appear normal. [Edit]

• ❓ Can I transfer funds from coinbase to PayPal?

  This is not possible. Coinbase only supports the use of bank accounts, SEPA transfers, debit cards, and credit cards to deposit or withdraw funds. [Edit]

• ❓ Can I send coins from coinbase to a hardware wallet?

  The coins on Coinbase are hot wallets. A hardware wallet will offer a greater level of security for your funds. If you want to send coins from Coinbase to a hardware wallet, the coins first need to be transferred from Coinbase to GDAX and then from GDax to your hardware wallet. [Edit]

• ❓ Is there a minimum amount you have to transfer to your account?

  There is no minimum amount that you need to transfer into your Coinbase account. However, there are limits on the maximum amount that you can deposit each week, which vary based on your verification level. As long as your card information is verified and you have enough money, you should be able to make a large deposit without any problems. [Edit]

Questions about Fees & Pricing

• ❓ Does coinbase charge fees for sending or receiving crypto?

  Coinbase charges small fees to send or receive cryptocurrency. Sending cryptocurrencies outside of Coinbase costs 1.5% plus a network fee, determined dynamically by the blockchain. Receiving cryptocurrencies by having your wallet connected to Coinbase is free. [Edit]

• ❓ Does coinbase have any hidden fees?

  Coinbase and the blockchain network (Bitcoin, Ethereum, Litecoin) do not charge fees to use their services or transactions between two parties. However, there are network fees related to using cryptocurrency wallets. [Edit]

Getting started with Coinbase

• ❓ How long does it take until my coinbase account is approved?

  When you sign up for a Coinbase account, it usually takes 1-2 business days to get approved. [Edit]

• ❓ How does the KYC process on coinbase work?

  If your account requires verification, Coinbase will ask you to submit personal information to fulfil their KYC (know-your-customer) standards. You can then upload government-issued ID or student ID cards and a recent proof of address by taking a picture with your webcam. [Edit]

Questions about NFTs

• ❓ Can i buy NFT on coinbase?

  Coinbase currently supports the purchase of NFTs. It revised its policy for listing new assets in 2019. You can join the waitlist and buy NFTs [Edit]

Questions about other Topics

• ❓ Is coinbase available in the UK?

  Yes, you can buy cryptocurrencies on Coinbase in the UK. This makes it one of the most flexible exchanges for buying Bitcoin, Ethereum, and Litecoin with fiat currencies. [Edit]

• ❓ What is the minimum age to trade on coinbase?

  You must be at least 18 years old to trade on Coinbase. This is due to regulatory compliance reasons. [Edit]

Questions about Security

• ❓ Is coinbase safe?

  Yes, Coinbase is a safe exchange to buy cryptocurrencies. They store at least 98% of customers funds offline. In addition, two-factor authentication is offered as an added security measure. [Edit]

• ❓ Can I trust coinbase with my personal data?

  Coinbase is a safe and trusted platform to buy and sell cryptocurrencies. They also take security precautions such as two-factor authentication, automated backups of all Coinbase wallets, storing most coins offline in cold storage, and requiring email verification for every withdrawal from their online wallet. [Edit]

• ❓ Has coinbase ever been hacked?

  No Coinbase has never been hacked. However, back in June of 2016, some users' accounts were compromised, and many reports of phishing emails were received by users claiming to be from Coinbase support. The company claims that personal information such as email addresses and phone numbers was obtained through a leak on another website. No coins were stolen, and no accounts were compromised. [Edit]

• ❓ Is coinbase regulated by the SEC?

  Coinbase is regulated by the SEC. This means that they are required to follow policies and regulations that help protect their customers. They must also comply with KYC laws, Anti-Money Laundering (AML) laws, and other legal policies. Coinbase is also an insured company in case of any cryptocurrency thefts or hacks on its platform. [Edit]

Questions about Taxes

• ❓ Does coinbase transfer data to the IRS?

  Coinbase is required to provide the IRS with any information they need for some instances, but Coinbase does not transfer any data to the IRS on its own. The company also has very strict policies about using customer data and will never use this data for any reason other than to meet legal compliance obligations. [Edit]

Questions about Technology

• ❓ Is Coinbase based on the Ethereum blockchain?

  Coinbase is not based on the Ethereum blockchain; it's built on top of the Bitcoin blockchain. [Edit]

The unofficial FAQ - Coinbase.com

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