How does Coinbase justify keeping funds on hold for 25 days?

3 answers

• Dec 17, 2021 · 3 years ago
  Coinbase justifies keeping funds on hold for 25 days as a security measure to protect users' funds. By holding funds for a certain period of time, Coinbase can ensure that the transactions are legitimate and not fraudulent. This helps to prevent unauthorized access to users' accounts and reduces the risk of funds being stolen. Additionally, holding funds on hold allows Coinbase to comply with regulatory requirements and prevent money laundering activities. While it may be inconvenient for users, it is done to prioritize the safety and security of their funds.
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• Dec 17, 2021 · 3 years ago
  Coinbase holds funds on hold for 25 days to mitigate the risk of chargebacks and fraudulent activities. By holding funds for a longer period, Coinbase can verify the authenticity of transactions and ensure that the funds are not being used for illegal purposes. This helps to protect both the users and Coinbase from potential financial losses. Although it may seem like a long time, it is a necessary precaution to maintain the integrity of the platform and safeguard the interests of all users.
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• Dec 17, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I understand the concerns regarding Coinbase holding funds for 25 days. However, it is important to note that this practice is not unique to Coinbase. Many other reputable cryptocurrency exchanges also have similar policies in place to ensure the security of users' funds. It is a standard procedure to prevent fraudulent activities and comply with regulatory requirements. While it may be frustrating for users, it is ultimately done to protect their assets and maintain the overall integrity of the cryptocurrency ecosystem.
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