Coinbase Addresses Speculations: No $5,000-Per-Week Bitcoin Withdrawal Restriction

Coinbase Denies BTC Withdrawal Limit Rumors

Coinbase has refuted claims that it has implemented a policy limiting Bitcoin withdrawals to a maximum of $5,000 per week. The rumors began when a user’s post went viral, gaining over 250,000 views and significant social media attention. Crypto researcher Chris Blec also questioned the claim’s validity. In response, Coinbase quickly dismissed the allegations, stating that they were inaccurate. The exchange clarified that there is no withdrawal limit when converting to Coinbase cash balances and explained that withdrawal limits vary depending on the payment method used. Coinbase urged users to consult its official policy for accurate information.

Temporary Trading Disruptions Amid Bitcoin Surge

Coinbase experienced brief trading difficulties as Bitcoin’s price surged to $35,000, its highest level since May 2020. The exchange promptly resolved the issue and monitored trading activity for any lingering problems. However, Coinbase is currently undergoing a scheduled database upgrade that will affect transactions involving Ethereum (ETH), Ethereum Classic (ETC), and all ERC-20 tokens across all Ethereum Virtual Machine (EVM) networks. During this maintenance process, the creation of new addresses will be temporarily unavailable, and delays in transactions are expected for up to 2.5 hours.

Hot Take: Coinbase Addresses Rumors and Ensures Smooth Trading Experience

Coinbase swiftly responded to rumors about BTC withdrawal limits, clarifying that these claims were inaccurate and emphasizing its commitment to providing accurate information through its official policy. Despite facing temporary trading disruptions during Bitcoin’s price surge, Coinbase promptly resolved the issue and continued monitoring trading activity for any further problems. The scheduled upgrade affecting Ethereum and ERC-20 tokens aims to enhance the platform’s performance but may result in temporary delays and unavailability of certain features. Overall, Coinbase remains dedicated to ensuring a smooth and reliable trading experience for its users.