TL;DR: I believe that Coinbase terminated my account for being profitable using "buy low; sell high" technique.
I just started trading btc & eth on coinbase as of this year (January 2017). By watching the trends of mostly ethereum, I've been able to land on the winning side of the majority of my trades.
A few days ago, I get a letter from coinbase stating they are closing my account due to violation of the Terms of Service in accordance with FinCen.gov. Unfortunately, their customer service is non-existent and has not respond to me.
I don't know why I would have been targeted as I would not have been required to file these gains for another 8+ months.
This may be a coincidence, but this notice of account closure came two days after I broke 15k profit.
This is not a boo-hoo pity party for me, as there are plenty of other ways to buy/sell crypto with far better privacy. I will definitely spend more time in learning about these.
Anyhow, this is mostly a heads-up warning.
If you are doing what I was doing, might want to chill for a while until we know what FinCec is up to..
P.S.: Willing to try to answer questions to any questions about my limited foray into the world of crypto trading.
I just started trading btc & eth on coinbase as of this year (January 2017). By watching the trends of mostly ethereum, I've been able to land on the winning side of the majority of my trades.
A few days ago, I get a letter from coinbase stating they are closing my account due to violation of the Terms of Service in accordance with FinCen.gov. Unfortunately, their customer service is non-existent and has not respond to me.
I don't know why I would have been targeted as I would not have been required to file these gains for another 8+ months.
This may be a coincidence, but this notice of account closure came two days after I broke 15k profit.
This is not a boo-hoo pity party for me, as there are plenty of other ways to buy/sell crypto with far better privacy. I will definitely spend more time in learning about these.
Anyhow, this is mostly a heads-up warning.
If you are doing what I was doing, might want to chill for a while until we know what FinCec is up to..
P.S.: Willing to try to answer questions to any questions about my limited foray into the world of crypto trading.
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