Coinbase is renowned as being the world’s easiest place to buy and sell cryptocurrency. Being a regulated exchange, they have to be careful about who they let buy crypto. Are buys disabled on your Coinbase account? In this article, I’ll be showing you 3 reasons why this might be the case and tell you what you can do about it.
Reasons Why Coinbase Buys Are Disabled
Here are the most common reasons for buys being disabled on the Coinbase crypto exchange.
In order to serve its customers, Coinbase needs to make sure they know who they are. To do this, they carry out standard ID checks for every account opened.
You need to make sure that the ID you used to sign up is the same as the payment method you are using – for example; if you signed up and verified as John Doe and tried to use Mike Doe’s credit card, you might be restricted from buying on Coinbase.
If Coinbase has got chargebacks from your account on previous trades, they may disable your account from buying crypto. In order to get around this, you should change your payment method and contact the Coinbase support to let them know.
Coinbase has different limit levels for each account which effectively limits the amount of crypto you can buy or sell in certain time frames. This limit usually increases when you buy more crypto on Coinbase. You may be disabled from buying on Coinbase if you have reached your limit. To check to see if you are over your limit, go to your ‘Account‘ and then tap ‘Limits‘.
William Hurrell is a digital currency entrepreneur based in the United Kingdom who runs a digital marketing company called Black Sands Media LTD. William got his first Bitcoin in 2014 and has been involved in the industry ever since.