Coinbase telling me my account is unverified – I’ve been trading on it for months?

EDIT: Today I learned what FUD is, and tbh I’m not really sure if I fully understand. **This is NOT intended to be a FUD post.** I’m a casual, I don’t do this often, I was just asking whether this is actually a problem or not. So I’m sorry if this post came off in any particular manner, that was NOT my intent.

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United States.

I set up my Coinbase account late ~~2020~~ **2021**, had it verified with my driver license and everything, put some money in, bought some bitcoin, etc. Probably about once a month or so I’d drop a few bucks in there, put it on BTC, and walk away.

Today, I go to trade with the money that I put in my account earlier this week. App is glitching, won’t let me use that money, only wants to use money straight from my checking account. Okay, I’ll message support.

Support then tells me, in writing, that my account is unverified. When I question what happened to my previous verification, they say that they only know that my account is currently unverified.

I then ask **why has my account been allowed to trade, if the identity of the user behind the account has not been successfully verified?** Which to me, is a pretty important question to answer.

Literally just got told “please [verify] again” on repeat, complete deflection, refused to even speculate on why an “unverified” account could trade. Then they closed the conversation.

So my question to y’all is, is this kind of a big deal? Like, if it turns out Coinbase actually let trades go through on an account that their own systems state is “unverified”, that their own support staff have stated in writing were never verified, within the United States, is that something the SEC/FTC/other government agencies might be interested in finding out?

I do have [screenshots]( of the conversation. Regardless of whether or not this is a big deal, Coinbase has revealed to me that their technical systems are not trustworthy, and I have just sold all of my BTC and am waiting for everything to settle before withdrawing and closing my account.

Thanks y’all, appreciate all of you, just figured I’d let y’all know that is some FUNNY BUSINESS and see if it’s worth doing anything about.

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27 thoughts on “Coinbase telling me my account is unverified – I’ve been trading on it for months?”

  1. According to c.b. they are obligated to make sure they know their customer, kyc…

    They periodically have to review your identification.

    Reply
  2. Did your drivers licence expire and you got a new one about half a year ago?

    Because when your identification document expires, so does your KYC.
    They would have sent you a mail about it. Giving you 6 months to provide new identification documents.
    Failing to do so voids your verification.

    That would be a possible explanation.

    Reply
  3. Verification isn’t a single on off switch based on a drivers license, there are different levels of it. At a certain point you have to do more involved verification with an SSN and challenge questions.

    You haven’t uncovered some catch 22 for Coinbase, you are just being resistant to more KYC and should have seen it coming from Coinbase they’re the most regulation compliant exchange there is.

    Reply
  4. It’s more or less the front-line support you can expect from most huge companies. Clearly, your account was once verified and for some reason lost verification. Probably a system issue. But the support tech is an entry-level employee who has no idea why or how that happened. They know your account is unverified, and the solution is to re-verify. I wouldn’t find it more sus than that.

    Reply
  5. Op I have had the same problem with them twice now. They are just a garbage exchange. If not for my Eth being locked in and stuck on there. My account with them would be done.

    Reply
  6. You verified with driver license, nowadays it has to be i.d card or passport. Binance won’t even option driver license kyc. Atlest not on finland

    Reply
  7. I would say there’s a 99.99% chance any “assets” anyone has on coinbase and binance will never ever leave the platform. They are truly digital assets now.

    Both these exchanges blew through so much cash it’s unreal. That cash came from depositors. Game over.

    Reply
  8. I wouldn’t bother worrying about Coinbase like that. I would instead not keep funds on an exchange and have accounts with 2-3 exchanges so if one is not cooperating, you have other immediate options available to you.

    Reply
  9. There are three levels of verification with CoinBase. Each one allows different permissions, are you trying to do something you haven’t done before, or with a larger amount than usual. I’ve used CoinBase since they started, and they do have intermittent issues, but never have I experienced anything shady out of them.

    Reply
  10. I keep telling people to move away from Coinbase for trading … ByBit is free, no KYC unless you are a whale and has near to 0 fees. Yea it’s way more complex but nothing you can’t learn + it runs insanely smooth with good support

    Only had trashy experience on Coinbase

    Reply
  11. Coinbase is a criminal operation. They won’t give me access to my investment. Everyday I am losing money. They need to be investigated for criminal activities.

    Reply
  12. I got an email saying that my KYC information is MISSING and I have to KYC or else my account is suspended as of 6/30.

    After I had KYC’d and got my account activated over a year ago.

    Now for the Kafkaesque way they do customer service.

    I told them I received some suspicious e-mail, copied the wording. I asked them why they lost my information.
    They denied losing my personal information. They said it was safe.
    They asked for a copy of the e-mail with headers.
    Sent email with headers.
    They said the email was a phishing scam (even though it really came from them)
    Then I asked to confirm that my account will not be restricted as of 6/30.
    They wouldn’t do that saying I have to KYC.
    I asked them why they lost my information.
    They denied losing my personal information. They said it was safe.
    Then I told them the e-mail you said was a phishing scam.
    Then I asked to confirm that my account will not be restricted as of 6/30.
    They wouldn’t do that saying I have to KYC.
    Then I asked them why they lied about the email being a phishing scam.
    They said it wasn’t a phishing scam.
    Repeat the previous 7 lines about 3 times.
    They said that they have to confirm the information.
    I told them if you have my personal ID and KYC information, nothing has changed and I’m confirming that.

    Crickets.

    So watch how 7/1 rolls around and my account is messed up. Time to close up shop with this company.

    Reply
  13. I had to do the same. On coinbase since 2017. It is funny to me that this coincides with a substantial dip as if they wanted to slow down the sell of by requiring to verify your well known to them account.

    Reply
  14. I think when it’s unviried you only cannot make withram… Good news you Sen them money but you can take it out. Its a safety thing.

    Reply
  15. Coinbase is trash. Use a better platform. I’m convinced their lack of good customer service is a cover to let them get away with stealing peoples money.

    Reply
  16. It told me I had until the end of the month to verify my account again. I just logged in and pretty much clicked “yeah this is me” and that was it. It’s weird.

    Reply
  17. Exchanges are either messing up so much or people are just spreading FUD because bears are strong right now

    Reply
  18. I got something like that a week ago from binance. The email was legit and I checked my verification and it was all complete. They told in the email that I would lose fiat deposit after 24h. Nothing happened.
    Sometimes I think they send emails to all users or some usee by mistake.

    Reply

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