Coinbase Adds Customer Support Phone Line

FinTech, Investing, News | September 22, 2017 By:

Coinbase has created a new customer support phone line in an effort to deal with unhappy customers.

The support line debuted on Wednesday for the billion-dollar exchange, which has been plagued by technical issues caused by bitcoin’s volatility. Coinbase will now offer phone support during business hours related to verification and locked accounts. Any other issues will need to be handled via email or a support bot on the site.

The support line drew an instantly large volume of calls, with hold-times up to 14 minutes. In response to the long waits, Coinbase issued the following statement: “We are actively working to onboard new phone support and general support agents to reduce response times overall. We acknowledge that there will be high demand for phone support given our current support response times, and this may result in longer hold times than expected until new agents come online. We decided to invest in phone support as part of our commitment to improving the fundamentals as our customer experience has not been meeting expectations, and we are actively working to improve.”

The company announced in August that it had secured a $100 million round of funding, making it a unicorn, or a company that has a billion-dollar market capitalization. The announcement indicated that staffing would be a priority. CEO Brian Armstrong has tweeted that Coinbase hopes to have more than 200 customer support staffers by next month.