{"id":182885,"date":"2023-10-24T07:39:07","date_gmt":"2023-10-24T07:39:07","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182885"},"modified":"2023-10-24T07:39:07","modified_gmt":"2023-10-24T07:39:07","slug":"coinbase-hoses-down-rumors-of-weekly-withdrawal-limits-on-bitcoin","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/coinbase-hoses-down-rumors-of-weekly-withdrawal-limits-on-bitcoin\/","title":{"rendered":"Coinbase hoses down rumors of weekly withdrawal limits on Bitcoin"},"content":{"rendered":"
Crypto exchange Coinbase has refuted rumors that it had imposed a $5,000-per-week limit on Bitcoin (BTC) withdrawals after a user\u2019s post claiming as such gained traction on social media.<\/p>\n
An Oct. 24 post from a user on X (formerly Twitter) claimed that he\u2019d been hit with a purported policy that restricted his withdrawals of BTC from Coinbase to a maximum threshold of $5,000 a week.<\/p>\n
The post gained over 250,000 views, with more than 420 retweets and nearly 2,000 likes. The post also gained the\u00a0attention of crypto researcher Chris Blec, who asked if anyone could verify the claim being made.<\/p>\n
However, a spokesperson from Coinbase told Cointelegraph that these claims were \u201cinaccurate\u201d and that no such policy existed that limited withdrawals when selling to Coinbase cash balances. <\/p>\n
\u201cWithdrawing from Coinbase will be dependent on the payment method you are using to withdraw,\u201d said the spokesperson, who suggested that users consult the crypto exchange\u2019s official policy on account limits and withdrawals.<\/p>\n
The unfounded rumors of withdrawal limits came around the same time that Coinbase experienced brief difficulty processing trades. <\/p>\n
According to Coinbase\u2019s official status page, the crypto exchange began experiencing difficulties processing trades around 6 pm UTC on Oct. 23.<\/p>\n
Related: <\/em><\/strong>Base network launches 8-week training course for blockchain developers<\/em><\/strong><\/p>\n Less than an hour later, the exchange provided an update saying that the issue had been fixed and the team was monitoring trading activity for any ongoing issues.<\/p>\n The trading delays on Coinbase occurred amid a frenzy of trading activity throughout the market, as the price of Bitcoin\u00a0surged as high as $35,000 \u2014 a level not seen since May last year.<\/p>\n Magazine: <\/em><\/strong>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/p>\n<\/p>\n