localbitcoins vs coinbase complaints

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Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. I'm very new to the concept of Bitcoin having only just read the wikipedia entry and visited bitcoin. When CPU mining was common gaming consoles did provide comparable performance. There was some development work for xbox and PS3.

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Localbitcoins vs coinbase complaints

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Cards, and your face. I was sUrprised my account was scammed using a mail localbitcoins. Some people were able to get some back after deleting their account and waiting 14 days!! I did an exchange received an email transfer then released my bitcoin.

The buyer then reported to his bank that he wants a refund. Interact etransfer then had a freeze put on my account. I am no longer allowed to send or receive etransfers on my bank acount and the seller taiyo araki has claimed my bitcoins. I have been reported as accepting fraudulant funds and have no help from the banks and local bitcoin has not responded to be about this.

I dont understand how someone can get away with reclaiming there funds after sending an etransfer but. Now i am being looked at as the frauder. They charge Astronomical fees to receive and send. Go through anyone but these people because they take what they are not entitled to charge for.

By him having his limits stuck at 13 coin allows him to keep the escrow from being triggered. He used his trusted status to get results. Accordingly, what conclusion can we draw from this? I think it is not necessary to be a very smart person in order to understand that this resource is draining information to the goverment.. Your article is wrong. LocalBitcoins has been hacked. You should update this as you have a responsibility to readers to be ethical and stay up to date.

Thank you. If not, stick to the simpler options. Use this site at your own risk. If anything goes wrong then support will do little to help you. Bought some bitcoin off a scammer from this site who kept my money and told me he never received it. I had to go to the police to get my money back. Reported it to LocalBitcoins who did nothing and resolved the dispute in his favour! Steer cleer of LocalBitcoins, they will not help you if you are scammed. Hi I have a suspended account, because I opened a second lbc.

I have written to support severally but the am still not satisfied with the decision. They also stated that I can't send a mail unless I use the link. So I thought I should forfeit the account since its been held my someone else. I did all verification no error that I have an account and I can't open another ,everything went successful. I sent my passport page for verification no error message telling me anything about another account.

I felt it's done let me buy some bitcoin, I also did that without any error telling me I have an another acct else where. The purchase was successful after few hours I tried to open another trade then I got this error message,you are on a forced holiday …since then support have been telling me the same thing about having two accounts.

Please help me out my bitcoin are stucked in the new account with a larger volume, please am losing hope already try and help me do something about this. I really need the bitcoin in my wallet,I beg u Thanks I just hope u will do something. Localbitcoins are blocking accounts one you complete payments. Beware that this is a scam company. They want to steal your bitcoins. You better use another company but not localbitcoins. They blocked my account capriciously.

The seller and I completed the transaction though them. They will not let me use the bitcoins that i bought. Their responses are rude. Visit Website. View Offers. Share your Experiences about LocalBitcoins. January Charles , December Disappointed , Bummed , September Kevin fraley , June I am having account for over 2 years.

Think before registering to coinbase. Seeking legal advise regards this case. Was able to log on one time to make a minimum purchase, but two weeks on I cannot access my account so what good is a purchase of goods or services if you can't use what you paid for.

Just keep getting bot e-mail reply's and no resolution, seems I'm not the only one having trouble trying to access an account with coinbase. This so called company is just ripping people off of their hard earned money. Stay clear of this scam site there are much better platforms to acquire cryto assets.

No contactable customer service for such a large company is unbelievable. I had a large sum of money just vanish from my account and despite daily emailing the so called "customer service" I've had 1 reply to say they have seen my problem and will get back to me ASAP. Given the money this company must make with their high fees surely they could at least have some kind of contactable customer service.

Coinbase utterly useless at support. I sent a Stirling transfer and they lost it. Raised an issue but no reply other than Boilerplate email acknowledgment. Contacted them by email, through their site and on twitter but always ignored. Not interested when things go wrong even when they have your money. Don't expect any help if a transaction goes wrong. I used the vault feature for added security and it requires two email approvals prior to withdrawing it from the vault. The primary email account worked just fine; however, the secondary email verification loops you back to the coinbase site without executing the approval.

I cancelled and attempted it again and it still did not work. So I have a large amount of crypto that I cannot get access too. I have been using Coinbase for little wile now. I am extremely upset about all of what they do, and they hide. I have not been able to speak with anyone. Their customer service is horrendous at best. I don't trade tons of money, and because of that, they eat up all the profits.

I have made profits every time I sell, but they eat it up. I honestly don't know where to go that charges reasonable or low fees. If someone knows, please reply here. DAI is a stable coin, which means it simulates the U. When I did this transaction it turned my 6, After going back and forth with Coinbase through emails because they do not offer phone service, they refuse to take blame for their mess up and refuse to reimburse me my money.

I'll leave some pictures below to prove my case. Please consider going with Binance or Kraken for your Crypto needs! Tip for consumers: Do not use Coinbase for Crypto trading and buying. Use Binance or Kraken! Products used: Cryptocurrency. Arbitrarily locked my account so that I could't send or receive Crypto, including the funds I already had there and that I had paid for with my bank account.

Customer service is also absolutely useless. Will have to raise a complaint issue with my country financial regulator. Seriously recommend you avoid using this platform, it is terrible. My recent letter to Paul Grewal, Coinbase Chief Compliance Officer I am writing to Coinbase to confirm that I have received no response to five messages requesting help for my account. Coinbase has never verified or confirmed receipt of funds. This is my second letter to your office to resolve this issue.

Coinbase continues to send me emails asking to choose a method of payment despite having already received wired funds to my account. Where is my money? Where is your response? This level of customer service from a licensed broker-dealer is disgraceful. I trust at least one of my messages will be responded to in short order. Do no do business with Coinbase. Tip for consumers: Do not except to receive any help as there exists no customer service. Like everyone else, I wish I have read these reviews.

Deposited a large sum from my bank after creating a new account, after using Revolut for a few weeks I had heard that Coinbase was what people used. However, they have to initially review the account.

No problem I thought, and fair enough as there are rules to follow, I will simply withdraw my cash until the process is complete. Nope - my money is now their money, until perhaps they feel like doing something about it. From reading online others have been stuck in my situation for months. Tip for consumers: Please, read reviews first. Products used: Deposited money, could not withdraw money. For 8 days the two factor authentication code is not working.

I have requested help on three occasions and other than the canned response saying they will help me as soon as possible, I have not received anything from them. Once this is straightened out I will be removing everything from this wallet and never use this company again. Absolute horrible way to treat customers. Tip for consumers: Do not use this company under any circumstance. Your ok paying money in you try and get it out!

Recommended by a friend, who doesn't seem to have any problem with them but only has a low amount in there, I have 3, pounds in and cannot get access to my own money, customer service are useless, and don't even respond to my enquires any more.. Coinbase is the most crooked crypto exchange you could ever work with. Look at how many bad bad bad reviews they have. I am waiting a whole week to access my money. They keep using the excuse that the device that I'm using to authorize the two step factor is not recognized when this has been my phone ever since I opened up my coinbase.

If you use coinbase then you are screwed! Have you gotten your bitcoins stolen from your wallet or invested in an ICO that turned out to be a scam, you are not alone because this happened to me too. I contacted the authorities and they referred me to 'recoveryknight. Com' who helped me recover all my funds within 2 days. I'm speaking up to improve awareness of these cryptocurrency thieves and help as much as i can to reduce victims to the bearest minimum. Terrible, this is a total con job.

Sold some bit shares. Insanity would be a better term! Never got a straight answer, total scripted email. They do not own to their mistakes Why would they? Apparently Not need to answer to anyone. Absolutely appalling! Good luck. Maybe you should try the team at Assetstrail, my colleague had his account hacked and his funds stolen on coinbase but was able to recover it with assetstrail.

He later realized that his funds were stolen as a result of his carelessness and not coinbase's. You guys deal with the crooks. They exchange your hard currency to their bitcoins and you loose part of your money because these crooks play with exchange rates. So, I lost my medicine. I'd email again. With companies that do not give out their phone number, you need to repeat your request for answers via email. Squeeky wheel gets the grease. You can't! Don't ever try to communicate or use the Coinbase site if you ever purchase a new phone.

This prevents you from accessing the account by your cell phone or desk top as I have tried for two days and have had no success with their " Customer Support Team ". The thing is people generally only write a review if they got cheated. And thus from all the reviews not just this site you can tell that they screwed over a lot of people including me. If a company is not loyal to all its customers then that company should not exist, especially a company dealing with money.

My advice is, stay away from them. Use localbitcoins to trade and bitgo to store, way better and more secure. They try to compete with prices of local traders causing them to lose money because of the volatility of bitcoin. To save themselves they go offline, delay transactions, etc and wait for the bitcoin price to turn in their favor before they send you your money.

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First, you need to figure out who you're dealing with, and that starts with simply clicking on their username. When you do that, you're shown their history, and this is what you can use to make sure they're the kind of person you want to deal with. With a peer-to-peer service, it all hinges on personal interactions, and since you'll only want to deal with people who others have dealt with and have deemed trustworthy, this is one of the most important metric to judge the person by.

If you see someone with lots of blocks and few trusts, those are obvious red flags that should definitely make you think twice about dealing with them. Make sure they have a high feedback score. Just like with Yelp, Ebay, and other services where people can rate their interactions, this will be a major determinant of whether the person can be trusted. Sign up for the service and start browsing the listings.

One thing newbies will note is that you won't start off with a high level of reputation. Instead, you might have to start off small, doing trades with people who might not have the best reputation and who are willing to do business with you. This way, you can build up your feedback score, your trust score, and get your profile turned into something robust and trustworthy, proving that you're someone others will want to do business with. Once that's done, you're in business and you can start dealing with others that have higher scores.

See, the seller doesn't send you the Bitcoins directly. Once you decide on how much to buy and the method of payment, the seller sends that amount of Bitcoins to LocalBitcoin. They're the ones who hold the Bitcoins until the buyer can submit proof that they paid for them.

Once that's done to their satisfaction, LocalBitcoin sends you your Bitcoins, and you can transfer them to your wallet. That's the good news. You can use this service almost anywhere in the world. The only two places we know of where you can't are two places where regulations have made the service unwelcome: New York state and Germany. Other than that, you're free to use the service as you see fit! That's another plus to LocalBitcoins: there is no limit to the amount you can buy or sell.

It's entirely up to you. If you want to sell a dollar's-worth of Bitcoin, go ahead. If you want to sell a million dollars'-worth, you can do that too. You can also determine the price you want to sell at, but keep in mind that people won't be willing to buy a higher-priced coin from you if you have low standing in the community, so you'll want to build up your profile first. So it's the seller that pays the fee, never the buyer. This is totally up to the individual seller, and if you'd rather not pay that extra fee, you can definitely find sellers that don't do that.

These are two totally different services, but they're also for people with different levels of experience in the Bitcoin community. Coinbase is very much geared towards those who are new to Bitcoin, offering a simple one-stop shop for buying, selling, and trading Bitcoin in a marketplace setting. You sign up, give them your banking information, and you're all set up to start dealing. LocalBitcoins, on the other hand, is more for people who want to buy or sell one-on-one with people that they personally vet, and instead of giving the service your bank information, you do everything privately through cash, bank transfers, or Paypal.

These services are fairly similar. While LocalBitcoins is more of a message board service allowing people to connect individually and engage in transactions privately, Paxful is more of an all-in-one service that not only allows people to list and sell Bitcoins, but also store them in the Paxful online wallet. Paxful appears to accept more forms of payment as well, including gift cards and prepaid debit cards.

Both of these services seem to be relatively popular, but they're very different. LocalBitcoins is focused on Bitcoin only, and provides a space for people to buy and sell one-on-one, while Kraken is a larger cryptocurrency exchange where you can not only deal in Bitcoin, but also Ethereum.

Both services are supposed to have good security. Kraken works more like a traditional market like the stock market , where you agree to trade or exchange a real-life currency like the dollar or the yen to either Bitcoin or Ethereum, and it handles the payments as well. LocalBitcoins is more minimalistic and merely offers a way for people to meet up and trade with each other directly.

LocalBitcoins is more geared to people who prefer small, one-on-one interactions that can be managed and determined at their own pace and on their own terms, instead of massive marketplaces where personal information needs to be given out and held in servers which, no matter how secure, could still be vulnerable to exploitation.

The great thing about Bitcoin is that there are lots of different ways to buy, sell, and trade. While some people prefer to use marketplaces — or even mine Bitcoins themselves — other people will appreciate the directness and individualistic nature of the peer-to-peer model used by LocalBitcoins.

If you're looking to branch out, these new altcoins of are also worth checking out. Peter is a blockchain investor and cryptocurrency writer at Vkool. Since Peter has advised blockchain startups and ICOs on content marketing, strategy and business development. Following Mt.

Along with this, consider the following factors:. Unfortunately, to maintain such high levels of security, certain areas need to be compromised. Account verification in Kraken takes a long time and getting through it does require some patience. To make sure that everything is going smoothly, take care to follow the steps properly. Since Kraken operates via a tiered verification system, the trading limits of a user are based on the level of their tier verification.

Tier 0: Users enter this tier by just entering their email address. Tier 1: Users enter this level by inputting their full name, date of birth, country, and phone number. Users can deposit and withdraw cryptos deposits and withdrawals are allowed in digital currency only.

They will be able to trade in cryptos as well. Tier 2: Users belonging to this tier can deposit and withdraw fiat currencies depending on the country they reside in. You can enter this tier after you provide Kraken with your address. Tier 3: You can enter this tier by giving a valid Government ID and a recent proof of residence.

Kraken provides Tier 4 accounts to both individuals and corporates. Coinmama has been operating from Israel since and is originally a venture of NBV internationally registered in Slovakia. It hosts around 1. However, when it comes to buying, the number of coins available is a little limited.

Having said that, the company did say that they are looking into adding more cryptos to their list. If you want to trade in the exchange, then you must have your own wallet for each of the available cryptocurrencies. This could be perceived as both a good thing and a bad thing. While it encourages users to make their own wallet, which is a lot more secure, it is not the most convenient option.

Another highly attractive proposition of Coinmama is its high spending limit, especially with credit card transactions. Daily limits last for 24 hours from the moment it is reached, while the monthly limit is a moving sum of the previous 30 days. The actual amount of crypto that a user can purchase is solely dependent on the level that they have reached with the platform. The more documentation the user provides about their identity, the more the currency that they will be entitled to purchase.

However, do keep in mind that the predefined daily and monthly limits are applicable regardless of what level the users have reached. The levels are as follows:. The thing that makes LBC unique is the fact that unlike Coinbase and Coinmama, it is not centralized.

In fact, it is a P2P Bitcoin exchange. LBC has Bitcoin buyers and sellers in more than 15, cities around the world. Traders can trade between themselves by paying in cash or sending money via wire transfer or PayPal or SEPA or direct bank deposit or anything that the seller wants. Registration in the exchange only requires you to use your email ID. However, if you verify your identity, then you will be raising your trust between traders.

The buyers and sellers set the fees in LocalBitcoins. However, they are still governed by specific rules and regulations. However, they are taking plenty of security measures which should put your mind at rest. Xcoins , based in Malta, was founded by Rob Frye in Xcoins is available worldwide, serving over countries, allowing you to deal with both USD and EUR fiat currencies.

To purchase and sell your crypto with Xcoins, you can use a Visa or Mastercard, credit, or debit card, making it easy for you to start exchanging. Crypto customers are flocking to Xcoins because of how quickly they can get their crypto.

In fact, Xcoins sends your crypto to your wallet of choice within 15 minutes of payment approval! The speed of receiving your coins is not the only thing they do quickly. You can also get verified incredibly fast, with, on average, no more than a 15 minute wait time to get your account verified so you can start buying and selling.

If you have had a prior trading experience, then you may want to look into some hardcore alternatives like Binance and Bittrex. In those crypto-to-crypto exchanges, you will be able to get your hands on a host of cryptocurrencies that you may want to trade-in. We have written an article some time back comparing Bittrex to Binance — you can check it out here.

Just click here and you will be able to buy Bitcoin , Bitcoin Cash , Ethereum , and Litecoin with your credit card. We have increased maximum limits for hassle-free transactions:. Additionally, Blockgeeks will charge a one-time per transaction fee of 2. So as you can see, there are plenty of alternatives to Coinbase. We hope that you found this guide useful in your trading journey.

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