From what I know PP still has crypto for investment purposes only..still cannot transfer in or out of a PP crypto wallet. Didn't see any changes to their TOS for crypto.
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coinbase are closing my account
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Hightower
Well-known Member
That's right, nothing has changed yet, everyone promises new functionality, but not yet.
Hightower
Well-known Member
I think they avoid this, because the main goal is to attract investment. I can be wrong.
You most likely are right as they want to avoid the issues with dealing with in/out transfers so a good reason to not allow any transfers in/out, except when you sell your coin the funds be simply be placed in Paypal Cash account.
Hightower
Well-known Member
It seems to be true, I think there are too many problems for them to organize a new functional.
A lot of us can't even open a Coinbase account. I've tried a bunch of times, and each time is seemed extremely buggy, and it just wouldn't complete the process, or accept my information (which is unusual because I have a lot of bank accounts and credit cards etc and never have trouble with approvals, and I have a perfect credit score/have no bad information on any secret databases etc). So what is it? Is it me or is it them that has the problem?
That whole debacle turned me off the crypto. I've rather send cash in the mail.
That whole debacle turned me off the crypto. I've rather send cash in the mail.
Sometimes you have to call your bank to allow CB past your banks security.
Most banks don't allow CB by default, you gotta request them allow you to link.
It's all bullshit and a lot of hassle bro. I managed to set up a CB account after telling them my life story and showing them personal documents that I wasn't comfortable showing them (passport/licence/face photo etc) but then after all that bullshit and getting CB approval I got a warning from my bank that they were gonna terminate my bank account if I attempted to make a crypto purchase via CB.
Any source that wants me to pay by crypto can go and fuck himself ROFL.
I'll shop with normal sources or I just won't buy any gear....
Not bothered anymore tbh.
Many local and national banks won't allow crypto at all because it is a security risk or mostly because they know absolutely nothing about crypto.
Most banks will have your account locked by default for crypto, they're not gonna allow you to link your account to CB without them setting it up first as that would be a very poor security protocol.
This is why you find a bank that will allow you to use crypto and then only use that bank for crypto, never keep your savings in a linked bank. I typically put a few thousand in this bank and leave it there untouched. You don't want to use a bank that you use all the time.
CB uses Plaid to link your bank account and Plaid requires you to give your bank password to link to your bank account. This is a security risk obviously, so once your cash is deposited into CB after a few days, always change your bank account password which will keep your safe in case Plaid has another security breech. Don't let Plaid keep your actual password for more than say 3 days.
Most banks will have your account locked by default for crypto, they're not gonna allow you to link your account to CB without them setting it up first as that would be a very poor security protocol.
This is why you find a bank that will allow you to use crypto and then only use that bank for crypto, never keep your savings in a linked bank. I typically put a few thousand in this bank and leave it there untouched. You don't want to use a bank that you use all the time.
CB uses Plaid to link your bank account and Plaid requires you to give your bank password to link to your bank account. This is a security risk obviously, so once your cash is deposited into CB after a few days, always change your bank account password which will keep your safe in case Plaid has another security breech. Don't let Plaid keep your actual password for more than say 3 days.
amindzeye
Member
I don't remember having to do this with coinbase, but venmo uses plaid also. You can get around using the plaid system by putting the info in manually.
They probably do the trial deposits then. Or no?
I won't ever link anything to any of my accounts. Screw them. I always choose trial deposits when something like this comes up, but I suspect that maybe Coinbase doesn't like that option and flushes you during account creation when you choose the trial deposit option.
I'm not sure Plaid does trial deposits.
I remember CB doing trial deposits a few years back, but I've not seen that happen since maybe 2018 or 19.
Hightower
Well-known Member
And what was the reason for the refusal, I managed to pass the test the first time, maybe I was lucky. Just wondering what is your reason for rejection?
I have absolutely no idea. I kind of felt it was a technical problem. And after a few technical problems, the messaging was like "sorry, we can't open an account for you".
I did this a few years ago and never tried again.
Hightower
Well-known Member
ahh, now I understand, this is a technical problem, not an administrative one.
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