Coinbase wallet transfer limit reached – Coinbase website is basically used to buy and sell bitcoins and other Cryptocurrencies.
You can maintain your wallet ok Coinbase and all your transactions will be recorded safely. But Coinbase does impose a few limitations for certain account holders.
There are a few reasons behind imposing limitations on your account at times it becomes frustrating and irritating for the users.
Why Is Your Coinbase Limit Low?
While creating a Coinbase account you will notice that there are limitations imposed on your account. There are few reasons behind it.
- One of the main reasons because of which the Coinbase limit is low is the verification of your account. Coinbase imposes limitations on the accounts which are not verified. Coinbase basically increases the limit of the selected account holders. This is basically done by Coinbase for the safety of its user’s funds and personal information. For the people whose accounts are unverified purchasing limit is imposed at $50- $100 per day. This limit keeps on increasing day by day but even then benefits of users who are verified are more than that of an unverified user. The increase in your Coinbase account limit will be according to the arbitrary value of your account some account limits may increase slowly as compared to others. But then also providing more and more information will help more to increase your account limit.
Verification of your account will make sure that your transactions are safer and hustle-free. Being a verified user you will have more privileges and safety of your funds. Coinbase will increase your account limit as a reward for providing your personal information.
- Another main reason for the limitation is the geographical location of the users. Limitations for the account holders are decided according to the geographical location of the users. Limitations are imposed on both the purchasing power of the users and the number of purchases for the users. These limitations may change according to the rules and regulations of the local banks of particular locations.
How to Increase Your Limit On Coinbase?
People always wish to increase their limit on Coinbase as they begin to enjoy it while using it. As we all can see that the craze of cryptocurrency is increasing day by day and that is the reason why people wish to deal in it more which requires increasing limitations imposed.
Mentioned below are some of the points by which you can increase your Coinbase account limit:
- Wait to increase: you can always wait for your limit to increase automatically. As mentioned above your Coinbase limit will increase daily and weekly from time to time. But this process takes time.
- Add Multiple Funding Sources: you can also increase your Coinbase account limit by diversifying your payment methods. You can use various methods to make and receive payments. By using multiple methods you can enjoy various increases in limits offered by Coinbase.
Methods which you can use are:
- Debit card/credit card
- Bank transfer
- Instant buy
- Wire transfer
- Verify Your Account: The most simple and the easiest way to increase your account limit is by verifying your account. Verifying your account will not only increase the limit but also will provide your account and funds safety.
- Ask For It: You can also request Coinbase customer care to increase your limit anytime you want to.
This is all you need to know about your Coinbase account limit reached. The easiest and the helpful way to increase it is by verifying your account as mentioned above.
The process of verification is very easy that is why people are advised to verify the account. It offers multiple advantages other than increasing the limit.