Will Coinbase close my account?

**icon** · 08-24-19, 02:37 PM

Originally posted by fortworth777

How could anyone here possibly know the answer to this?

**raiders72001** · 08-24-19, 02:45 PM

Originally posted by fortworth777

Kinda got a late start with Bitcoin gambling. Opened an account with Nitro about a month ago, have won probably $25,000+ and move money in and out of Coinbase and my bank. Should I be doing something else here? Just don’t want this to stop but have heard that Coinbase does close accounts.

Also how do you know if you have an account that will be reported to the IRS? Says you have to have a merchant, pro and some other type of an account to qualify, not sure what I have.

Most likely not with Nitrogen since they switch up wallets for the purpose of players not getting banned at Coinbase. Nitrogen wrote an article on this some time back to ease the mind of players. Although, as icon said, you never know. Things change fast in the crypto world.

**raiders72001** · 08-24-19, 08:49 PM

There’s been a lot of talk this week about the concerns around withdrawing from Coinbase when you’re using your bitcoins to gamble. A few bettors have received emails like the following from Coinbase:“Upon review of your Coinbase account, we have determined that we can no longer provide you access to Coinbase Services. Please understand that Coinbase is a regulated Money Service Business under the FinCEN division of the U.S. Treasury Department and as such, we are required to review accounts in order to ensure compliance with regulations.
Gambling is illegal under US law even if you live outside of the US we cannot provide services to your account for the purpose of any type of gambling activity.”
Anonymity and security are always at the top of our minds, so we’d like to take a moment to reassure you that we don’t use a single address to withdraw your bitcoins from Nitrogen Sports. Your deposit address can also be changed (up to 5 times a day) if you’d like to ensure that you’re getting a completely brand new deposit address every time.
If you have any concerns about the security of your bitcoin, please don’t ever hesitate to give us a shout! Please submit a support ticket, and one of our amazing support staff would be happy to walk you through how we ensure your anonymity.
Read on our guides on Nitrogen Sports Blog to learn about bitcoin, its advantages and how to make the most of it.

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**Digroot** · 09-03-19, 11:10 AM

My coinbase account was closed from this.. took a while tho fwiw

**TennisAceE** · 09-04-19, 06:02 PM

You could get flagged but are probably ok in this case. Going forward, I would use another wallet service as a 3rd party.
Let this be a lesson learned since as you probably already are aware, Coinbase is very compliant with US tax laws/irs.