How to Fix a Restricted Coinbase Account?
To fix a restricted Coinbase account, you need to contact Coinbase support.
But before you do that, you need to check if the selling of crypto is supported in your country first.
If you’re living in Australia, New Zealand, or Singapore, you won’t be able to sell crypto on Coinbase.
As a result, you won’t be able to add a payment method.
If that’s the case, it’s redundant to contact Coinbase support because they’ll tell you that the selling of crypto is not supported in your country yet.
A solution to this is to transfer your crypto from Coinbase to another exchange like Binance and sell them there.
Is your Coinbase account restricted?
If it is, you might not be able to add a payment method.
Here’s the error message that you’ll get when you try to add one, “You can’t add a payment method while your account is restricted”.
As a result, you won’t be able to buy or sell crypto.
This can happen even if you’ve completed the KYC (Know Your Customer) process.
The process includes verifying your identity by uploading your ID and a photo of yourself.
In this article, you’ll learn why is your Coinbase account restricted and why can’t you add a payment method.
It could also mean that you haven’t verified your identity or you’ve violated Coinbase’s User Agreement.
When your account is restricted, you’ll have full access to your wallets, but you won’t be able to buy or sell crypto.
If you’re unable to add a payment method, it means that your country does not support it.
In countries like Australia, New Zealand, and Singapore, you can only buy crypto using a debit/credit card.
However, you won’t be able to sell crypto as transferring funds back to a card is not supported.
That said, you can still send crypto from your Coinbase account to another wallet or exchange.
Why can’t I add a payment method on Coinbase?
You can’t add a payment method on Coinbase because it is not currently supported in your country.
In certain countries, you can only buy crypto using a debit/credit card.
However, you cannot sell crypto as transferring funds back to a card is not supported.
Countries affected by this are Australia, New Zealand, and Singapore.
Here’s a reply from Coinbase support, “At this time, Coinbase only supports buys in Singapore”.
Followed by, “Although sells and withdrawals are not available in your country on our platform, you can still send your crypto to an external wallet or exchange”.
If you’re unable to sell crypto or add a payment method on Coinbase, you can transfer them to another exchange and sell them there.
1. Contact Coinbase support
o begin with, you need to visit the Coinbase Help Center:
In the Coinbase Help Center, you’ll see multiple categories that you can choose from.
Scroll down until you reach the “Contact Us” button.
Click on “Contact us” to go to Coinbase’s contact page.
2. Choose your product
Once you’re on the contact page, you need to choose your product.
There are multiple products that you can choose from.
This includes “Coinbase”, “Coinbase Pro”, “Coinbase Custody”, and more.
Since your Coinbase account is restricted, choose “Coinbase”.
3. Select the issue that you’re experiencing
Now, you need to select the categories of the issue that you’re experiencing.
Firstly, since you’re having trouble with adding a payment method, select “Trading and Funding on Coinbase”.
Secondly, select “Buying, selling, or converting crypto”.
Thirdly, select “I am having issues selling” if you’re unable to sell crypto.
4. Provide information about your issue
If you’re unable to initiate a sell, you can just indicate it in the “What was the transaction date?” field and the “What is the reference code?” field.
In the “Email address associated with your Coinbase account” field, enter your email address.
Lastly, enter the subject line of your issue (e.g. My Coinbase account is restricted).
5. Describe your issue
After you’ve provided more information about your issue, scroll down the page.
Now, you need to describe the issue that you’re experiencing.
Here’s an example of a description, “Hi Coinbase support, my Coinbase account is restricted and I’m unable to add a payment method. I need help in fixing this”.
Please add any other information that can help Coinbase to better identify your issue (e.g. your country of residence).