How Gdax Froze my account and I lost thousands of dollars.
Gdax is one of the top cryptocurrency exchanges based in the united state with over $100 million dollars in daily trading volume according to coinmarketcap.com. It is currently owned by Coinbase the largest Digital asset exchange in the united state.
Most traders trading Currently trading with Gdax has taken to their Reddit to lament about how Gdax froze their account and fail to respond to their support ticket without any valid reason. While the exchange claims to respond and resolve issues in less than 5days depending on the complexity has been swept under carpet as most of these trader has claimed that it takes more than one month for you to get a response from the company. Most have gone far to lay claims that because of their inability to respond to their complains on time has led them to lost thousands of dollars in the cryptocurrency market.
Below is one of the complaints as posted on Reddit by an active trader.
GDAX froze my account. No explanation. Thousands of dollars potentially lost. Support Nonresponsive.
Ticket Number: 4506721
GDAX: Last time you did this to me I had to wait 45 days for resolution. You locked up 7 figures of funds for no reason other than slow support, and I lost hundreds of thousands of dollars as the market drastically changed.
Even today your support rep says minimum 5 days just for someone to “explain” why you’ve disabled my trading. I am certain it will be weeks before its fully resolved. I am about to lose $20,000 on a trade I needed to make. Will you be compensating me for that?
Friends have reported that your “automated algo” locks account routinely for no valid reason. The last guy waited a month only to find there was “no reason”. You flipped him back to active.
I cant afford to wait. I apologize. Can someone please address this immediately
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What is your experience or thought with Gdax Exchange and how to improve their customer service?