On February 2, a Redditor claimed to be a Coinbase customer declare that Coinbase has set a daily withdrawal limit of only $ 10 for some users. Reddit user – named “Unholy_Crab1”, said his subsequent request to withdraw the higher amount was rejected by Coinbase.
The Redditor also shared a screenshot showing the maximum amount of money his account is allowed to withdraw from Coinbase every day in Bitcoin (BTC) of $ 10.
By the time of writing, the subject of his complaint has received more than 40 comments, of which the majority of other Redditors have expressed doubts about Coinbase's service. As a result, some users on the topic have predicted that Coinbase will likely implement more similar restrictions if the price of cryptocurrencies surpasses an all-time high. While others argue that limiting daily withdrawals to $ 10 is “literally fraudulent money”.
Coinbase and Ripple recently announced a joint initiative to promote cryptocurrency adoption in the US
Based in San Francisco, Coinbase has long been famous as one of the most popular digital asset platforms in the United States, with services available in more than 100 countries to date. The accusation of the daily withdrawal limit of Coinbase appeared at the time that Coinbase and Ripple announced a joint initiative to promote the adoption of blockchain and cryptocurrency in the United States.
On January 23, Rachel Nelson – CEO of Coinbase, along with Breanne Madigan – CEO of Ripple, announced the establishment of Market Integrity Working Group – a group that helps improve market transparency and Gives users trust.
Coinbase is not the only cryptocurrency exchange that is facing recent withdrawal-related complaints on Reddit. Toiyeubitcoin reported on the Finnish cryptocurrency exchange LocalBitcoins allegedly silently suspending user accounts, with some users reporting that they have to wait at least 14 days to delete their accounts, thereby withdrawing Bitcoin from the exchange.
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According to CoinTelegraph
Translated by ToiYeuBitcoin
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