Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers’ records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes.
Although Coinbase’s general practice is to cooperate with properly targeted law enforcement inquiries, we are extremely concerned with the indiscriminate breadth of the government’s request. Our customers’ privacy rights are important to us and our legal team is in the process of examining the government’s petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.
Today we are excited to share a redesigned Coinbase website. Originally built as a simple bitcoin wallet, the new Coinbase.com takes significant strides toward becoming a fully-featured digital asset platform.
Back in July, we added support for Ethereum, which now accounts for nearly 15% of trading volume on Coinbase. With this redesign, we have laid the foundation to support a growing list of future digital assets.
The dashboard is your one-stop-shop for a quick overview of essential data. The dashboard is updated contextually, based on your behavior and geography.
A brand new buy/sell experience
The new buy/sell page is faster and easier to use. Not only does it guide new customers in the process of buying their first digital assets, but it also significantly reduces friction and improves the user experience for advanced customers. …
Several weeks ago we made ETC withdrawals available to all customers who were affected by the Ethereum hard fork. All customers with outstanding ETC balances have now been notified and the majority have withdrawn their ETC from the platform.
If you are one of the remaining customers who has not withdrawn your ETC, please do so by visiting the ETC withdrawal page. We apologize for any trouble this caused. We will endeavor to be better prepared in the event of future hard forks.
We wanted to give our customers an update regarding the current status of the Ethereum (ETH) network and the upcoming ETH hard fork.
In order to protect against denial-of-service (DOS) attacks, the Ethereum foundation plans to promote a hard fork of the ETH network on Tuesday, October 18, 2016 PDT. This will likely cause ETH network instability for a period of time. Customers should expect delays to ETH deposits and withdrawals from Coinbase for up to the next 7 days. All customer ETH funds will be safely secured on Coinbase during this period.
In order to ensure the integrity of all customers’ ETH transactions, Coinbase will temporarily suspend deposits and withdrawals from all customer ETH wallets starting Monday, October 17, 2016 at 6 P.M. PDT. As soon as possible after the fork, Coinbase will resume support for deposits and withdrawals of ETH. …
We’re excited to announce the launch of weekly buy/sell limits on Coinbase. In the past, we used daily limits. This created frustration as users were forced to come back every day to purchase their maximum amount. You’ve given us the feedback that you’d prefer to come back less frequently and purchase larger amounts. Now you can.
Weekly limits are now available for users in the United States, Canada, Singapore, and Australia. We plan to roll these changes out for our European customers in the coming weeks.
We will continue making it easier for people to convert their local currency into and out of digital currency (the “bridge to finance 2.0”), in furtherance of our mission: to create an open financial system for the world.
We’re excited to announce that Coinbase customers in Europe can now buy digital currency on their mobile phones using a credit or debit card.
Forty percent of debit and credit card purchases are done on mobile for our U.S. customers, and we are working diligently to make this service available in as many countries as possible. Our mission at Coinbase is to create an open financial system for the world, and enabling easy access to digital currencies like bitcoin and ethereum in as many countries as possible gets us one step closer to that goal.
Last week we posted that Coinbase does not provide support for Ethereum Classic (ETC). Since then, some customers have expressed an interest in recovering ETC that may be associated with their Coinbase transactions.
It is important to us that our customers trust Coinbase to safeguard digital currency assets. Therefore Coinbase customers will be credited the full amount of ETC associated with their account. We are working as swiftly as possible to create a simple process which will allow users to send an ETC credit to an off-platform ETC address of your choosing.
At this time, Coinbase is not planning to support ETC trading or transactions on our platform. We will only be making this credit available to send off-platform. Customers should avoid sending additional ETC to any Coinbase wallet. We will update this post as the credit process becomes available. Please visit our FAQ page for further details. GDAX customers, please see our corresponding update. …
Building products that provide safe and easy access to digital assets requires an uncompromising commitment to security. Digital assets like bitcoin can be easily moved around the world, which introduces unique security challenges. We’d like to share how we think about security and what we’re doing to safeguard your funds.
In order to keep funds safe we assess security from two primary perspectives:
Before supporting a new digital asset, we start by evaluating the underlying blockchain. We consider the maturity of the network, the experience of the development team, and the enabling cryptography. Some blockchains also introduce novel ideas like Ethereum’s Virtual Machine (EVM) that require special consideration. …
We are excited to announce that consumers in Canada & Singapore can now instantly buy bitcoin and ether with their debit and credit cards.
To get started, visit the “Trade” page on Coinbase.com or tap on the “Buy” or “Sell” options in our iOS or Android apps to add a credit or debit card and buy digital currency. Please note that at this time users in Canada can only buy digital currency. We hope to add the ability to sell digital currency in Canada as well soon.
We wanted to provide some clarity to Coinbase customers who are following the current discussion in the Ethereum community regarding ETH (Ethereum) and ETC (Ethereum Classic).
Coinbase launched support for ETH after last week’s hard fork in the Ethereum network. Since launch, Coinbase has exclusively supported transactions and trading in ETH — not ETC. All Coinbase customers’ ETH is 100% secured in hot and cold storage, per our usual secure storage procedures. Coinbase customers may continue to buy, sell, send, and store ETH on Coinbase.
At this time, Coinbase has no plans to support ETC, although we will continue to monitor the situation and evaluate customer demand. Please do not attempt to send ETC to your Coinbase account.