Bitcoin exchange Coinbase has been the recent target of the ire of many of its customers. The meteoric rise in Bitcoin’s price, the huge increase in Coinbase’s user base, and the lack of support staff to handle that influx have all led to a series of snafus that have many Coinbase users furious.
First and foremost among those problems is that of Coinbase customers being charged multiple times for transactions that have already occurred. In some cases that resulted in thousands of dollars in erroneous charges, bank accounts being cleaned out, and overdraft charges being imposed. So if you have a Coinbase account, you may want to check your bank statement to make sure that you haven’t fallen victim to any unauthorized charges.
It’s unclear whether Coinbase itself is to blame, if hackers are at work, or if various banks that handle credit card transactions may have something to do with this. At any rate, Coinbase users are not happy. To add to their problems, Coinbase’s customer service and support has been lackluster, leaving many users not knowing how, when, or even if their problems will be resolved. For an individual investor, it can be frustrating to deal with problems like that, particularly if it seems like the company isn’t responding to your requests.
That’s why it’s important when investing in Bitcoin to choose providers you can trust, who have the experience and the resources to support you. For Bitcoin IRA investors, that means working with IRA providers and custodians who have an established track record and a good rating with consumer protection organizations such as the Better Business Bureau.
Investing through a trusted IRA provider can minimize the complications that can beset individuals at exchanges like Coinbase. With a Bitcoin IRA, you’re not a lone individual navigating a new and uncharted investment arena. You have a team you can trust and whose support you can draw on to overcome any hurdles that you might encounter.