January 6, 2020 – A user on Reddit is claiming that his daily withdrawal limit has been reduced to just $10 per day by Coinbase.
It can be seen from the image above, the user’s daily limit is just $10.00 and he was being opted to apply for higher withdrawal limits. Also, the user said he has applied for that “higher withdrawal limit” but was denied.
The post on Reddit has 80+ comments and most are criticizing Coinbase for such implementation. However, many also said that US-based users have no choice but to use the crypto wallet.
Many are speculating the ban is because the user might have used a “mixer service”. Some users are using such services to make it more difficult for services (like Coinbase and perhaps the government) from finding out where a Bitcoin originated (we will have an article soon about mixer services).
Coinbase is a major cryptocurrency wallet and exchange. Users from the United States (and elsewhere) can buy, sell, and store crypto. Analytics website put visits to the Coinbase website at 18.15 million per month with an average page per visit at 6.31.
Most recently, Coinbase and Ripple created a Market Integrity Working Group to push for smart regulations and transparency in the cryptocurrency market.
This article is published on BitPinas: Coinbase is Limiting Daily Withdrawal to $10 for Some Users