Coinbase, Exchanges

Why Do I Have a 300 Limit on Coinbase?

If you’re a Coinbase user, you may have noticed that there’s a $300 limit on how much you can buy or sell at any given time. This may seem like a strange limit, but there’s actually a very good reason for it.

The reason for the limit is that Coinbase is a regulated financial institution. As such, they are required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

Part of these regulations require Coinbase to verify the identity of their users.

In order to verify your identity, Coinbase needs to know some personal information about you. They also need to be able to verify that information with government-issued ID documents.

NOTE: WARNING: Coinbase’s 300 limit is a restriction put in place to control the amount of money that can be stored or sent from your account. It is important to be aware of this limit and not attempt to exceed it as doing so can result in your account being suspended until an investigation has been conducted. Additionally, any attempt to bypass this limit may result in serious legal repercussions.

For most people, this is no problem. However, there are some people who don’t have any government-issued ID documents.

For these people, Coinbase has to take extra steps to verify their identity. This process is called Enhanced Due Diligence (EDD).

EDD can take up to several weeks, and it’s not always successful. For this reason, Coinbase has decided to limit the amount of money that unverified users can buy or sell until they’ve been verified.

If you’re an unverified user and you hit your $300 limit, don’t worry. You can still use Coinbase to buy or sell other cryptocurrencies.

You just won’t be able to do it with fiat currency until you’ve been verified.

Previous ArticleNext Article