According to the analysis of financial analysts of the company Value Penguin reviewed complaints on the activities of cryptocurrency exchanges Coinbase received in the Bureau on financial protection of consumers (CFPB), the main problem of this exchange is the absence of proper maintenance and timely support.
From June 1, 2017 March 1, 2018 CFPB was registered 2271 complaints. 40% of them related to the lack of customers access to equity, 20.5% of cases were problems during the transaction, and 11.7% are associated with attempts to defraud or Scam, 7.9% of the complaints were related to problems the mobile version of the wallet, the same number of complaints on different issues of a technical nature and 12% had other problems. Especially a lot of claims in late 2017 — early 2018. And left unattended for more than 57% of complaints.
It is also noted that the number of complaints increased in proportion to the depreciation of bitcoin, and the peak value of the claims fell on days when the prevailing crypto-currencies was minimal.
All complaints filed with CFPB, you can close in two ways: the company against which the complaint was filed must either explain the cause of the problem, or to provide appropriate assistance in addressing the problem. All closed complaints that were studied by the experts was closed with the explanation of the problem from the company.
Summing up, the experts concluded that Coinbase is not able to support the work at the appropriate level required by the customers. However, it should be noted that other exchanges during volatility in cryptocurrency market are often trying to freeze their activities.