Can You Have Multiple Accounts on Coinbase?

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You can technically make another account on Coinbase, but you won’t be able to earn any of the ‘free crypto’ on the quizzes with your second account. If you’re looking to bypass the limits, note that if you’re a verified member there are no limits on wire transfer deposits. For withdrawals, all currency withdrawals on wire transfers have a limit amount of $50,000 (US) daily. You can easily raise your limit by logging into Coinbase Pro, selecting the account drop down and going to limits and requesting a limit raise. All you need to do is request limit, state a reason why, and upload your LinkedIn Profile and/or a recent bank statement.

“Yes, I’ll need to be withdrawing $100M from Coinbase daily” -no one, ever

I haven’t tried to make two accounts with different banks and tried to exceed the daily ACH (free) withdrawal limit of $25,000. Why? Simple- because I don’t have $25,000 to withdraw. Maybe someone who’s had experience with this can throw a comment down at the bottom!

Coinbase allows users to have multiple accounts, but there are some restrictions. Users are only allowed to have one account per email address, and they can only link one bank account or credit/debit card to each account. So, if you want to have multiple Coinbase accounts, you’ll need to use different email addresses and link different banks and payment sources.

Why would I want to have multiple Coinbase accounts?

A primary reason for wanting to have multiple Coinbase accounts would be to bypass the withdrawal limits imposed by the platform. By ‘limits’, I mean limits on the amounts of money you can deposit and withdraw to PayPal/bank/wire transfer and the amount of crypto that you can send or receive. These limits will vary based on your country, state, and verification level within the platform. Coinbase plays by the rules, so they’ve probably already talked with your country’s government and agreed on limits users can have.

To find out what your limits are, get on Coinbase and go to settings and then account limits. I’m a fully verified user in the US (I’ve completed all the Know Your Customer steps) and my limits are in the pic below.

The surprise I found here is that there’s no limit on wire transfers. I could potentially be a Colombian drug lord (I’m not) laundering tens of millions out of the US every day. However, I’m sure that Coinbase reports on any major account activity as any good financial institution would.

You can also view your verification steps on the same screen. Here’s what mine looks like:

The other big reason people want multiple accounts with Coinbase is so they can claim the free crypto that’s given out by taking the lessons and answering the quiz questions on the platform. While it is true that you can earn free crypto by answering these questions, it won’t work with a second account. You can only take the quizzes if you’ve had your identity verified- and if there’s another account with the same number and social security number (or equivalent ID) then you won’t be awarded the crypto.

What about Coinbase Pro?

Coinbase Pro does have a strict rule that users can only have one account. The good news is that you can use your existing login credentials and bank account for Coinbase on Coinbase Pro and take advantage of the lower fees. Coinbase Pro’s UX is only slightly more complex than Coinbase’s and the fees are a small fraction of the fees you pay on Coinbase.

To get around daily withdrawal limits, you could always trade your crypto on other platforms too like Kraken, Binance, Gemini, KuCoin, Voyager, and others depending on your locale.

Conclusion

Let’s say you recently moved and have two verifiable addresses and IDs. You open two accounts on Coinbase. What are you hoping to achieve? Do you want to withdraw more money faster? Are you looking to score the ‘free crypto’ from the quizzes twice? It won’t work. There are no restrictions on the amount of crypto you can send and receive. And if you’re looking to increase your cashout limit, just go to Coinbase Pro and follow the instructions above. You use the same login as you do for your regular Coinbase- so everyone with a Coinbase account by default has a Coinbase Pro account. You could also set up and fund your Kraken account, and consider Gemini and Voyager too.

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