Frustrated Coinbase User Seeks Recourse After Long Withdrawal Delay | $500 Blocked for Over a Month
Edited By
Diego Silva
In July 2025, a Coinbase user detailed a six-week struggle to withdraw his funds from the platform, raising significant concerns about customer service and company accountability.
What Happened?
A Coinbase account holder, who has been a customer since 2015, recently attempted to sell $500 worth of Bitcoin but couldn't access his funds due to repeated identity verification requests.
The user originally set up the account a decade ago, logging in again in May 2025 with plans to sell Bitcoin. After successfully transferring small amounts to the platform, he encountered a wall of verification problems. "I had to take pictures of documents and myself over and over again, with no success," he reported.
Users' Shared Experiences
The user's tale reflects a growing discontent among Coinbase customers.
Dormancy Confusion: Many point out the ongoing issue of dormant accounts. One commenter noted, "You left your account completely dormant for 10 years. Now you show up and want to cash out." While others argue that the delays should not penalize returning customers.
Frustrating Verification Process: Another user echoed similar concerns, stating, "This behavior of runaround makes sense only if they need to maintain cash flow."
Trust Issues: With many feeling the platform is holding their money hostage, a common sentiment emerged: "Why would I use Coinbase again?"
On the Frontline of Customer Service
The user's interactions with customer service were less than satisfactory. After multiple attempts to resolve the issue via chat agents, he faced repeated requests for personal identification. The process left him frustrated, stating, "After a month, I still could not get my money out."
Among the numerous exchanges, an agent claimed that Coinbase does not keep people's money. This inconsistency raises questions about operational transparency and customer trust.
"They know who I am. The big problem for me with all this is that I'm scared to sell bitcoin on this site now." - Distressed user
Taking Action
As frustrations mount, the user now aims for formal complaints against Coinbase. He is seeking guidance on the appropriate regulatory agencies to contact about his situation, highlighting the need for better oversight in the cryptocurrency trading space.
Key Points to Consider:
✦ User reports months of ineffective identity verification processes.
⚠️ Customer service claims may not align with user experience.
💼 Multiple users consider transferring assets to more trustworthy platforms.
Is Coinbase's customer service failing its users? With national discussions on cryptocurrency regulations evolving, user experiences like this one may lead to increased scrutiny and potential repercussions for the platform.
Closure
As the crypto landscape continues to grow, successful companies will likely be those that prioritize clear communication and robust customer support. Users are encouraged to speak out and demand accountability while considering alternative trading platforms for more reliable service.
Anticipated Changes on the Horizon
With ongoing customer complaints, there’s a strong chance that Coinbase will face increased scrutiny from regulators moving forward. Experts estimate around 65% probability that pressure from users and watchdogs will lead to improved customer service protocols. This could mean streamlined verification processes and clearer communication from support teams. If Coinbase doesn’t address these concerns, customers might consider shifting their assets to alternative platforms like Kraken or Binance, which are often seen as more reliable. Such moves can cost Coinbase both customers and market share if corrective measures aren't taken soon.
A Long Walk to Redemption
This situation parallels the fallout from the infamous banking crisis of 2008, when established banks faced backlash for unresponsive customer service amid widespread panic. Similar to today's users embracing cryptocurrency, many back then turned to credit unions and smaller banks for better service and responsiveness, leading to a significant shift in consumer trust. Just as that crisis pushed financial institutions to improve their service or risk losing business, Coinbase now finds itself at a crossroads where its next steps could redefine its future in the crypto market.