Coinbase is a platform on which one can trade digital currencies and it also acts as an intermediary to communicate with the network. It is a global digital asset exchange company (GDAX), which is a secure platform for selling, buying, storing and digital currency, as well as provides information about those transactions which is out of the blockchain network and also verifies those transactions. It serves as a wallet where we can sore our digital currencies. Coinbase can be used for exchanging Bitcoin, Litecoin, Bitcoin Cash, Ethereum as well as other digital assets with fiat currencies in 32 countries and Bitcoin transactions in many other countries. Coinbase has over 10 million customers worldwide and involved in the exchange of more than $50 billion worth of digital currency. With such a large active user base, there are few digital currency exchanges that are as trusted and reliable as Coinbase. Coinbase keeps almost 99% of their assets in an offline cold storage so they cannot be hacked.
If you want to purchase cryptocurrencies you need to first link your bank account or credit or debit card to your Coinbase account. You will have higher limits($100/transaction, $2,500/week) if you have linked your bank account with your Coinbase account, but it will takes longer to verify your transactions and depending on your bank, you will also not able to find money in your Coinbase wallet for two to four days. And it will also takes two to four days for the sale to show up in your bank account when you have sold Bitcoin and your sale is already confirmed. But you will have lower limits ($200/week) if you have linked your credit or debit card with your Coinbase account. But you have the advantage that you can purchase digital currencies by simply transferring funds from that bank account to the site and also these transactions, Bitcoin shows up in your Coinbase wallet instantaneously. You can also instantaneously sell Bitcoin to your PayPal account and effectively cashing out, as your Bitcoin can be exchanged for local currency.
As a Coinbase user, you need that first Coinbase verify card (debit or credit) in order to use Coinbase facilities. But many Coinbase users found that there are difficulties for doing the same and Coinbase unable to verify card most of the instances. So, Coinbase users must follow the correct way and procedure to verify their card. In this article we try to help those users whose Coinbase card verification not working at all.
We you are associated with Coinbase and start mercantilism on the Coinbase then you need to first verify you bank card before performing any transactions. There may be number of reasons, if you are unable to successfully verify your card. One of the common reasons why Coinbase unable to verify card is that some bank don’t allow the use to deal in any type of cryptocurrencies. Therefore before trying to verify your credit or debit card with Coinbase, you must check whether your bank allow this facility or not. If your bank doesn’t allows this facility than you may not able to get any coin from the Coinbase. So, it doesn’t matter if you’re providing the correct information or not, you will not be succeeding unless your bank permits this facility. This is one of the most common reasons for Coinbase unable to verify card. So, it is advisable for you to check with your bank before dealing with Coinbase.
Whenever you add a payment method to your Coinbase account, two small verification amounts will be sent by Coinbase. These two amounts should be correctly entered on the payment method page in Coinbase settings in order to successfully complete the verification of your payment method. Many customers face difficulties while verifying a payment method using amount verification process and they generally receive an “incorrect amounts” error.
The reason behind this issue is that, many customers trying to add the same payment method more than once. Coinbase sent new pair of verification amounts each time the payment method is added. The point to be noted is that only the latest pair of amounts is valid. If you try to add your credit or debit card and then remove the card and again add the same card over a short span of time, in such case the customer will receive not less than four credits and it is quite possible that the credit amounts will not work to complete the verification process. In such case, you’re advised to remove your card and re-add the card after at least one business day. For availing instant assistance, you can contact Coinbase support team, but they will probably not able to help you by manually verify your credit or debit card and you will face Coinbase card verification failed issue.
Some other possible reasons for not able to verify payment methods are:
- During verification of card, the customer may receive a third charge of 1.00. These charges for 1.00 should be ignored by the user and should not be used further for verification process. This third charge is possible generated by the card processing network and there is no connection of this charge with Coinbase verification amounts.
- Before verification process, you need to ensure that your Coinbase profile is set to the correct country. As Coinbase will send the verification amount in your local currency. If you have selected the wrong country by mistake, you will see Coinbase card verification failed issue. As amount will be converted as per selected country and the process will be failed.
- In some other case your bank may combine multiple charges into one or may round these amounts to the nearest whole number. In such case, you need to reach your bank to know the correct amount.
- If you not able to complete the verification process with the help of mobile app, then you can try the same process with the Coinbase website instead.
You can always contact Coinbase support if you have trouble during verification process.