Can you have multiple Coinbase accounts?

Can you have multiple Coinbase accounts?

Robert McDougall 

September 12, 2022

Cryptocurrency

Coinbase is unquestionably one of the biggest and most popular cryptocurrency exchanges, making it easier for people to enter the blockchain world and explore every bit of the possibilities available. The exchange even claims to be the easiest place to buy and sell cryptocurrencies due to their hassle-free mechanism and quick processing. Not only that, but you can also enjoy trading, investing, and earning on the platform, allowing you to make some extra bucks or even severe income if you know what you are doing.

All you will have to do to get started on Coinbase is to make an account by simply providing your email address and password. But the question that pops up here is can you have multiple Coinbase accounts? Is it possible to use two different accounts simultaneously that are owned by you? We will get to this point after evaluating what Coinbase actually is and how their whole ecosystem and crypto services work.

   Key Takeaways

  • Creating Coinbase account is easy and with over 50 million users it is one of the most trusted exchanges
  • You cannot have multiple Coinbase accounts
  • Coinbase has a clear policy on how many accounts you can have to minimize the risk of fraudulent activities
  • You do not need multiple accounts to make larger deposits/withdrawals
  • In case you want to increase your deposits/withdrawals, there are a few simple non-fraudulent steps you can go through in order to do so
  • Same rules and policy apply to both Coinbase and Coinbase Pro accounts

A brief look into Coinbase

Coinbase has been in business for about a decade now, and they have certainly gained the trust of millions of users by providing seamless services for years without budging. The platform was created back in 2012 with the sole mission of creating a better system for cryptocurrencies and allowing users to access revolutionary assets at that particular time easily. But of course, the platform grew with time, and now we have reached the point that Coinbase offers pretty much everything an exchange has to offer in today’s era. 

Coinbase has over 50 million users from all over the world, with a daily average trading volume of billions, making them one of the most trusted exchanges. One unique thing about Coinbase is that they have shifted their whole workforce to remote working, having no headquarters in any of the cities around the globe. 

How can you create an account on Coinbase?

It is effortless and straightforward to create an account on Coinbase and probably takes a minute to do so. All you have to do is provide your legal first name, last name, email address, and password, and your account will be created.

After the creation of your account on the platform, you have to attach your bank account with Coinbase in order to proceed with buying/selling the cryptocurrencies or the other available activities on the exchange. 

Can you create multiple Coinbase accounts?

No! It is certainly not possible to create multiple Coinbase accounts on the same credentials. In case you succeed in creating multiple Coinbase accounts on the same credentials, the question will not be about if you will get banned; the question will be about when you will get banned. This is simply because the creation of multiple accounts by the same person violates the policy of Coinbase and increases the risk of fraudulent activities on the platform.

How does Coinbase detect multiple accounts of an individual?

It is pretty much clear now it is not possible or sustainable to create multiple Coinbase accounts. But do you know how Coinbase actually detects multiple accounts created by the same individual? Well, it is pretty simple to determine due to what the exchange requires right after the creation of an account.

First of all, you have to attach your bank account with your Coinbase account in order to proceed with your crypto activities and unlock the basic features of the exchange. And let’s say if you have two bank accounts and you manage to attach them with two Coinbase accounts, the next step will get you caught no matter what.

Coinbase also requires their users to verify their identities from time to time in order to maintain the security decorum and provide everyone with a safe environment. So what will you do then? Until or unless you verify your identity, all the activities on your accounts will be paused, allowing you to admit the defeat. And, of course, if you verify your identity on both accounts, their system will detect the same ID information, giving them enough reason to block you for your lifetime.

Why would someone want multiple accounts on Coinbase?

The only logical reason why someone would want to create multiple accounts on Coinbase is to bypass their limits. What they will do is simply divide their funds in order to acquire more daily, weekly, or monthly withdrawal/deposit limits and trade, buy, or sell just as they want. But the thing is, Coinbase has quite reasonable limits set on the accounts of their users, and only a high-profile trader or investor would try to bypass those limits by creating multiple accounts.

But what they probably do not know is that they can increase their limits by simply getting in touch with the support team of the platform. You can let them know why your withdrawal or deposit limit should be increased, and they will get back to you with a solution. But creating several accounts for this purpose will only worsen things.

Can you have separate accounts on Coinbase and Coinbase Pro?

Again, the plain and simple answer is no. If you want to shift to Coinbase Pro, you should use the same email address you used for the basic Coinbase account to sign up for Coinbase Pro. Doing anything other than that would bring consequences that you might not want to face.

Conclusion

Whatever the reason you are trying to create multiple accounts on Coinbase, just don’t! If the account limits are bothering you, get in touch with the customer support team of the exchange and explain your issue in detail, and they will most probably solve your problem. But violating their policies is certainly the thing you would not want to do where security is the main concern. 

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

To view our privacy policy read it here.


Tags


You may also like

Swyftx vs CoinSpot

Swyftx vs CoinSpot
>