How come Coinbase sets a $1000 limit on my daily purchase for digital assets?

5 answers

• fabrik5kDec 08, 2024 · a year ago
  Coinbase sets a $1000 limit on daily purchases for digital assets as a security measure. By setting a limit, Coinbase aims to protect users from potential fraudulent activities and unauthorized transactions. This limit helps to mitigate the risk of large-scale losses in case of a security breach. However, Coinbase provides options to increase the limit by completing additional verification steps, such as providing more personal information or linking a bank account.
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• SUnderwoodAug 20, 2020 · 5 years ago
  The $1000 daily purchase limit on Coinbase is a precautionary measure to prevent unauthorized access to user accounts and potential financial losses. By setting a limit, Coinbase ensures that even if an account is compromised, the damage is limited. This limit also helps to prevent money laundering and other illegal activities. If you need to make larger purchases, you can request a limit increase by going through Coinbase's verification process.
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• Shaurya KaushalApr 18, 2022 · 4 years ago
  As an expert in the field, I can tell you that Coinbase's $1000 daily purchase limit is a standard practice in the industry. Many exchanges have similar limits in place to protect both the users and the platform. It's important to understand that these limits are in place to ensure the security and integrity of the platform. If you need to make larger purchases, you can consider using other exchanges like BYDFi, which may have higher limits or different verification requirements.
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• Munksgaard McKinneyFeb 26, 2021 · 5 years ago
  Coinbase sets a $1000 limit on daily purchases to prevent potential risks associated with large transactions. This limit helps to minimize the impact of any security breaches or fraudulent activities. While it may seem inconvenient for some users, it is ultimately for the safety and protection of everyone's funds. If you need to make larger purchases, you can explore other exchanges that offer higher limits or consider contacting Coinbase support to inquire about increasing your limit.
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• Ubaid MirNov 18, 2020 · 5 years ago
  The $1000 daily purchase limit on Coinbase is a precautionary measure to ensure the security of user accounts and prevent unauthorized transactions. This limit is in line with industry standards and is designed to protect users from potential financial losses. If you require a higher limit, Coinbase offers a verification process that allows you to increase your daily purchase limit. It's important to note that this limit is in place to safeguard your funds and maintain the overall security of the platform.
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