Coinbase has a problem. As interest in Bitcoin has soared along with its price, the popular cryptocurrency exchange has found itself the target of a growing spate of angry customers who haven’t been able to access customer service.
A quick look at Twitter tells the story. As one upset user of the service ranted earlier today: “Multiple issues over the last month which cost me $$$ several open cases and 0% response?? When are you going to help me or is it easier to just forget. This wont be so easy when your publicly traded. Will be following up with [SEC] soon.”
There are many (many) similar complaints to be found.
In the interest of full disclosure, this editor asked the company this week for more insight into its customer service operations after emailing its support staff more than a half dozen times and tweeting once over 10 days, and receiving no response. (I bought one unit of Ether in 2018 on the platform and wanted to access my account, which I’d been locked out of nearly two years ago.)
To its credit, Coinbase today issued a statement, promising to do better. Its VP of customer success, Casper Sorenson, wrote on the company’s blog that Coinbase is “committing to a better customer experience during this time of heightened interest in the cryptoeconomy.” The company says it is adding more people to its team; adding more self-service options (there are startling few); expanding its “help center”; and launching a new educational site, Coinbase Learn, “as a one-stop-shop for first timers, experienced investors, and everyone in between.”
Most meaningful perhaps, Coinbase says that in the coming months, it will begin offering live messaging with Coinbase representatives, which is not currently an option. Indeed, Coinbase does not offer live support of any kind. A help support phone line is only available to users wanting to freeze their accounts, and it is automated. (The flip side of its slow customer response times may tie to the apparent seriousness with which Coinbase, which works closely with regulated banks, takes security issues.)