The North American legislation is quite hard at the time of granting permits to new financial companies, so that they offer services to the users. This is especially true for cryptocurrency related companies. Being Coinbase, practically the only option available in the American market. What makes complaints of a limit of $ 10 in Bitcoin especially important in the withdrawals from the platform.
The importance of Coinbase
Within the crypto world, Coinbase occupies a place as one of the most important cryptocurrency exchange and storage companies in the market. With tens of thousands of users, and several million dollars in cryptocurrencies being traded within its platform daily.
This is because it is basically the main active crypto exchange in the United States. Complying with the minimum requirements established by the regulatory agencies of this country. And therefore having a practically insured market, this country being a good proportion of the total of 13 million users that the platform currently has.
Therefore, any failure in the normal operation of Coinbase significantly affects the crypto market as a whole. Well, it would exclude from it an important portion of its members. And therefore, to a significant amount of capital.
This situation makes the complaints of some users on the network very serious, who say that Coinbase prevents them from withdrawing more than 10 dollars in Bitcoin per day. A very small amount for most cryptocurrency traders, and that would be an important limitation if it were extended to many users.
This complaint was made through Reddit, and the post was answered by dozens of users commenting on problems that had arisen when using the Coinbase platform. Getting to speculate on the messages, with which Coinbase could establish a general limit to withdrawals on its platform in case Bitcoin exceeds a certain price. And therefore, the company does not have enough liquidity in dollars to meet its obligations.
Although so far Coinbase has not given a formal response to users. These types of problems within its platform do not predict anything good for the future. Especially when less than 100 days are missing for the next Bitcoin halving. What is expected will generate important changes in the dynamics of the crypto market.
Therefore, if the main platform that provides exchange and wallet services to the United States, is not ready for that moment. The consequences could be catastrophic for the crypto world as a whole. What makes these user claims our Today’s Data here at CriptoTendencia.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.