Update: I have removed my support for Coinbase entirely. I am now using Crypto.com - Join link works for a $25 activation bonus, though there is a hold on it. I just did KYC in under 3 hours. I am exploring other exchanges, as well.
Bitcoin just broke through the $40,000 USD barrier, setting yet another all-time high.
“Well, I screwed it up real good, didn’t I?” ― Richard Nixon
Unfortunately, right as Bitcoin (BTC) broke through $40,000 USD, Coinbase, CoinbasePro, and Coinbase Wallet all went down and have been extremely erratic, freezing $204 of my assets on instant withdrawals that doubled (intended to withdraw $102 for some pharmacy expenses which is a timely matter I can no longer resolve), later allowing me to withdraw $51 USD with an instant PayPal transaction time of about 5 minutes or more. At the same time, I bought 0.0025 BTC for 100$ with what I had remaining not in “holds” at the hard drop from 40K, which is now doing - well, I don’t know as all I am getting are error screens on each part of their site and mobile app.
Looking at the market when I know I cannot touch my funds would be counter-productive to my psyche. Now, this is the Achilles heel of Coinbase & CoinbasePro for me and very well may send my loyalties to another exchange. I have seen periodic “bugs” from CoinbasePro, such as flipping for a substantial profit, and then when CoinbasePro finally decides to process the already “Filled” order, it gives me a lesser amount, sometimes substantially lesser, removing all profit at times. Unlike most people, I appreciate CoinbasePro’s UI (User Interface) and find it very easy to work with, and I generally do not like candle graphs like almost everyone else.
This major fail at such a crucial time has happened before, which is to say their sites all seem to go offline whenever it would be convenient for them to rip their customers off the most and create overall havoc. They should have upgraded their servers sufficiently and dealt with any web developer issues - they have more than enough money to do so.
I would not be surprised if lawsuits were filed over losses due to ongoing service outages - I had reached out to an instructor of mine to let me into a locked course. He had it resolved within 5 minutes of sending the email, while over an hour from the Coinbase outage, and only successfully withdrew $51 USD of my total money. About 3-4 hours later I was able to get the $100 in Bitcoin out after having no clue what it was or wasn't doing.
Simultaneously, this put me in a bad position to be unable to take care of my parents, who are very sick and need more medicine, put my USD funds on hold during instant transaction withdrawals to Coinbase, and left me with a little over $100 in Bitcoin spinning in the market with no ability to sell it or flip it. Had I had access to the entirety of my funds, I could have made a fair amount just in the first two flips as I am an active market trader and trade in real-time, and saw the graphs doing exactly what I had hoped. I had just told a fellow Cryptowriter I was waiting precisely for a moment like this to invest.
This service failure is not acceptable, and I can only imagine how badly other people are being screwed over and panicking as they likely have far more funds in the wind/at stake. I am concluding that it is time to review all other exchanges and migrate to a new one that is known to be more stable. I have now legitimately confirmed they have not been paying me for a good portion of my referrals to both their website and their earn opportunities, as well.
The outage looks like the end of Coinbase for me; with respect to how much volume they are dealing with, this has happened many times before, and with the state of the world and how much money is at stake, Coinbase could literally cause lives to be ruined due to losses from market volatility during their outages. All of their services were either completely erratic or inaccessible, leaving my funds, along with many others in a critical position with undeniable losses from missed opportunities.
I still do not have access to the $204 in USD over 24 hours later, nor a response to my support ticket.
Hopefully, that will be resolved any time now.
As always, comments, suggestions, and friendly debates are highly encouraged.
Stay smart & Stay safe.
-Thomas Wolf
Cryptowriter is now conducting podcasts which can be found on PocketCasts, YouTube, Spotify, Anchor, and more to come.
DISCLAIMER
I am not a certified financial, tax, or legal advisor, analyst, or planner. The above information should not be considered advice but as an opinion intended to share information and ideas for entertainment and independent research purposes. Cryptowriter and its writers are not responsible for any losses or damages incurred as a result of misinterpreting personal opinions for professional advice.
This article was originally published on Voice.com
If you enjoyed this content feel free to use our 🔥exclusive Voice sign-up page🔥 to skip the queue and gain full access to our Cryptowriter community.
Follow Me
Follow Our Socials
👉 Twitter - Telegram - Instagram
My article on grinding to Rank 71 on Cointiply with earning techniques!
Honeygain - Passive earner that pays in BTC or PayPal
Coinpot.co's Seven Faucets:
BonusBitcoin
BitFun
MoonDoge
MoonDash
MoonBitcoin
MoonBitcoinCash
MoonLitecoin
FaucetPay & My Top Picks of their Legitimate Linked Faucets:
FaucetPay - The Microwallet Platform
ADBTC - The #1 FaucetPay faucet for Satoshi's
DogeFaucet - 1/4 a Dogecoin every 60 minutes
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH - Claim every 5 minutes
FireFaucet - A good paying earning site
FaucetCrypto - An earning/faucet site that pays out small amounts right away
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH - 25 Claims Daily
Favorites:
Pipeflare - A new favorite faucet that pays in ZCash and Doge Directly
BetFury - The only "gambling-related" earner I like with dividends
Womplay - New mobile gaming platform that rewards in EOS/WB
TipNano - A mobile earning & faucet App that pays instantly in Nano
Torum - A social networking site with token earning for users
Cryptopick - Earn pickies by predicting market movements to profitMy Crypto Exchanges & Brokerage App:Robinhood - Free stock worth up to $500 when you sign up and deposit $100.
Crypto.com - $25 sign up bonus. Because **** Coinbase, that's why.ChangeNOW - Anonymous, secure, fast, lowest-fee crypto exchanges!
