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Customer complaints on Coinbase are on the rise

The new report sheds light on customer complaints about US cryptocurrency companies.

29.Aug.17 3:00 PM
By Daria Zaytseva


Customer complaints on Coinbase are on the rise

Using data from the US Consumer Financial Protection Bureau (the agency responsible for processing consumer complaints on companies), the online loan market LendEDU discovered that this year the exchange of the Coinbase cryptocurrency has attracted the most criticism.

In total, Coinbase received 288 complaints in 2017, which is a sharp increase compared to seven complaints received in 2016.

Coinbase did not respond when CoinDesk contacted the comments, although the company pledged to use a new round of funding to improve the level of customer service.

"Over the past six months, Coinbase and GDAX have demonstrated unprecedented growth. As a result, our systems were limited, and this led to a negative experience for customers, "the company spokesman said.

Nevertheless, Coinbase was not the only company that received complaints. The CFPB has found 277 complaints against other cryptocurrency companies, as LendEDU showed, a figure that it can increase to 400 by the end of the year.

In general, the data is the last one, which indicates a potential growing pain for crypto-currency firms, which this year were confronted with new interests, as bitcoin set a series of unceasing highs.

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