Coinbase has addressed the recent rumors regarding a Bitcoin withdrawal limit, affirming that these claims are baseless. The company states that it does not enforce any withdrawal limit policy.
Origin of the Rumors
On October 24, a user on platform X made a post alleging that Coinbase had implemented a policy restricting Bitcoin withdrawals to a maximum of $5,000 per week. This post quickly gained widespread attention, accumulating over 250,000 views, 420 retweets, and 2,000 likes. Crypto researcher Chris Blec also requested verification of the claim.
“In response to the rumors, Coinbase moved swiftly to address any concerns. The exchange’s spokesperson emphasized that these allegations were ‘inaccurate’ and clarified that there is no policy limiting withdrawals when converting to Coinbase cash balances.”
The spokesperson further explained that withdrawal limits vary depending on the chosen payment method and are not universally set at $5,000 per week.
However, Coinbase urges users to refer to their official policy on account limits and withdrawals for accurate information.
- The Coinbase website explicitly states that there are no limitations on how much cryptocurrency users can sell to their Coinbase cash balance (USD, GBP, EUR, etc.).
- Withdrawals from Coinbase are subject to the payment method used. US customers, for example, are required to have a positive available balance to withdraw funds.
Trading Difficulties and Technical Upgrades
Coinbase experienced a brief interruption in its trading capabilities, which coincided with the circulation of unfounded rumors about withdrawal limits.
The exchange’s official status page confirmed that trading difficulties were encountered around 6 pm UTC on October 23. However, within an hour, Coinbase rectified the issue and continued to monitor trading activity for any lingering problems.
“The trading delays on Coinbase occurred during a period of intense market activity, as the price of Bitcoin surged to levels not seen since May last year.”
Currently, Coinbase is undergoing a scheduled database upgrade. This technical system maintenance is planned for October 24 at 3 am Eastern Time (ET). During this period, there may be temporary delays in transactions involving Ethereum (ETH), Ethereum Classic (ETC), and all ERC-20 tokens across all Ethereum Virtual Machine (EVM) networks. The creation of new addresses will also be temporarily unavailable.
It is projected that this maintenance process may last up to 2.5 hours, although the estimated duration is subject to possible adjustments.
