Scammers may create merchant accounts to sell you and other customers fake goods or services. If you encounter a potential merchant scam, please report them directly to Coinbase Commerce.
Cryptocurrency transactions are irreversible, if you send cryptocurrency to a third party, you cannot reverse it or stop payment. When you send cryptocurrency to a blockchain address, you must be certain of the legitimacy of the third-party services and merchants—only send cryptocurrency to entities you trust.
Tips to avoid these crypto scams
- If it sounds too good to be true, it usually is. For example, do not buy mining hardware from a merchant if it’s being sold at a drastically low price. A legitimate merchant would position their goods and services more competitively.
- Only send cryptocurrency to trusted third parties. Search for publicly verifiable reviews on Google, Trustpilot, or Better Business Bureau to validate their services.
- Research the organization thoroughly. Check consumer-protection websites and make telephone calls and send emails to verify authenticity.
- Watch for grammatical errors in communications or on websites. Scammers often make grammar or spelling mistakes.
Coinbase Commerce does not hold or escrow funds
Coinbase Commerce does not require additional payments for a merchant to release funds or issue a refund. Merchants have full control over the funds they have received.
Coinbase Commerce does not hold payments made to merchants and then release the funds to them AFTER you receive the goods or services.
If a merchant claims your goods are being held by Coinbase Commerce after you’ve made a payment, then this is also false—Coinbase does not hold goods or services on behalf of the merchant.
All of your transactions are direct peer-to-peer payments between you and the merchant. As a result, Coinbase is unable to resolve any payment disputes as transactions on the blockchain are irreversible.