Coinbase account restricted: A lot of Coinbase users will face an error after signing in Coinbase exchange and completing the two factor authentication and KYC that says: “you can’t add a payment method while your account is restricted. done”. Why does the Coinbase overpayment method not work and how do we fix it? In this article on shetcoiner we want to explain this issue for you, so stay with us! You can also read about How many Coinbase accounts can I have? or How to buy Vechain in Coinbase? and etc, on our magazine.
These days, crypto currency has been able to transform from a small investment to an investment worth ten million of dollars in total. If you want to use crypto currencies as a method of investment or a payment method, you have probably heard of Coinbase. This platform is one of the most popular online cryptocurrency exchanges with tens of millions of users. It is also one of the easiest ways to buy digital currency, which has helped increase its popularity.
Coinbase is a cryptocurrency exchange where you can buy popular coins like Bitcoin, Ethereum and Solana. Not all coins are supported on Coinbase; Because many of them require initial measurement, but there are more than 120 different types of digital currency on this platform. Meanwhile, there are thousands of different cryptocurrencies around the world, Coinbase allows you to trade the most popular types of cryptocurrencies, so it works well for most purposes.
How to buy different currencies on Coinbase?
After completing the process of opening an account, now we want to check how to buy some digital currency. You can buy any currency you want. The following steps are similar in all currencies:
Tap Get Started at the top of the screen. You will see a list of crypto assets that you can buy. Choose any currency you want. In this section, choose how much you want to buy. Don’t forget that you can buy part of the digital currency, so you can spend $5 on any currency as much or as much as you want. The minimum order you place is $2.
Tap the preview purchase, then review the order, and note that Coinbase takes a percentage of the purchase, so if you’re buying $10, about $1 will be deducted from the transaction. If you buy $1000 of Ethereum, it will cost about $14. Now you can make your purchase. After this part it takes some time to confirm your transaction, then you can trade your digital currency immediately after buying it, but you have to wait eight days to send it to someone.
Why is my Coinbase account Restricted?
What this video from shetcoiner’s YouTube channel to learn how to fix Coinbase add payment method not working:
What is “you can’t add a payment method while your account is restricted.” error on Coinbase?
Coinbase account restricted: In the last few months, a lot of Coinbase users in India, Philippine or a lot of other countries has received and error from Coinbase website after signing up that says:
“You can’t add a payment method while your Coinbase account is restricted. Done”
This error means that your account has probably been restricted by Coinbase during an operation, so Coinbase gives you this notification and warning that you cannot add any payment method to Coinbase for yourself. From time to time, Coinbase Exchange may restrict access to the sell/buy services in your account due to violation of the User Agreement. This can be for a variety of reasons but not related to things like scam.
Why coinbase add payment method not working?
In the continuation of Coinbase account restricted article, we should say that: The only official reaction from Coinbase exchange about this error to the customers is that these users have to send their Case Number to this exchange’s support and wait for an unknown amount of time.
What is the reason for limiting the Coinbase account?
Another scenario that can lead to an account limit is that you have encountered a cryptocurrency scam. The cryptocurrency market is currently largely unregulated, so it is not inconceivable that illegal activity could take place on DeFi exchanges. You may have inadvertently become involved in a problem related to a cryptocurrency scam that has caused Coinbase to restrict your account activity.
Coinbase may limit your account if it is at risk of cryptocurrency fraud. If the platform detects signs of suspicious activity, it limits trading until it can figure out what’s going on.
This exchange may condemn you for data breach. As much as Coinbase does its best to ensure the safety of users’ private data, the platform can still be targeted by hackers. If your information falls into the wrong hands, Coinbase may restrict your account until the situation is resolved.
If a transaction receives a chargeback or is reversed, Coinbase may prevent further orders from being processed. If a recent transaction resulted in a chargeback, you should notify the platform’s customer support team. An account limit may cause a lot of anxiety, but there’s no need to worry. After the transaction is completed, the funds will be deposited into your wallet or bank account.
While you may not buy and sell crypto, you will still have access to your funds and this restriction will not affect your previous transactions. You can also withdraw funds from your wallet to an authorized bank account. Most account limits are lifted within a few days, so you should be back trading in no time. If your problem is not solved for any reason, you can raise it with the support of the site.
How to fix Coinbase account restricted?
Changing your specification and your living location
This problem happened to some users and they couldn’t do anything about it for weeks so this is clearly a really serious problem that Coinbase users have with this American exchange.
At some cases the solution for Coinbase account restricted is to go to your profile and change and reenter your location and address in United States of America. Some of the users has done this and waited for Coinbase confirmation and verification to solve their problem.
Enter your information correctly
It has been seen that the user enters his specifications wrongly and with mistakes. Pay attention that you entered your name as John Blue but your real name in your credit card is John Doe and pay your payments in this exchange or if you want to add a payment method will restrict your account.
Coinbase account restricted
If you have faced these Coinbase account restricted problem or had a different experience, we would be thrilled to share your problems with others in the comment section for others and answer them for you and help you to fix it in shetcoiner. We are waiting for hearing your experiences about this matter in this article’s comments. You can also refer to our other articles such as How many Coinbase accounts can I have? or How to buy Vechain in Coinbase? and etc, to learn more.
What is the meaning of you can’t add a payment method while your account is restricted. error?
This means that your account has been restricted by Coinbase during an operation, so Coinbase gives you this warning that you cannot add any payment method to Coinbase for yourself.
How to fix Coinbase account restricted?
If you want to fix Coinbase account restricted, you can do these two methods: Enter your information correctly and Change your specification and living location.
If you want to know more about crypto currencies read the following articles on shetcoiner site: