Coingate may be about to implode

InceptionHosting · December 2019

Hi Folks,

Just a heads up to anyone using coingate, I was nudged by someone else in the industry today and confirmed that have been holding payments since the 28th October, multiple hosts are getting the same "soon" response.

After going through an account confirmation process that required more validation than a mortgage this is taking the P a bit.

Probably lost around €500 so not the end of the world, the BTC big hike and big dip recently may have finished them off as it all ties in together.

So as a PSA I would suggest people stop suing coingate entirely until they have resolved this or more is known, they are being obviously evasive when challenged it seems.

Something about needing to find a new SEPA partner, the fact the last one dropped them is worrying, the fact that is is already the 3rd is double worrying the fact that it has been 6+ weeks since they paid anyone... little bit more than worrying.

Chievo · December 2019

@AnthonySmith said:
Hi Folks,

Just a heads up to anyone using coingate, I was nudged by someone else in the industry today and confirmed that have been holding payments since the 28th October, multiple hosts are getting the same "soon" response.

After going through an account confirmation process that required more validation than a mortgage this is taking the P a bit.

Probably lost around €500 so not the end of the world, the BTC big hike and big dip recently may have finished them off as it all ties in together.

So as a PSA I would suggest people stop suing coingate entirely until they have resolved this or more is known, they are being obviously evasive when challenged it seems.

Something about needing to find a new SEPA partner, the fact the last one dropped them is worrying, the fact that is is already the 3rd is double worrying the fact that it has been 6+ weeks since they paid anyone... little bit more than worrying.

Hopefully you and the rest of people would recover their money before ........... Like @deank days the end is nigh.

mikho · December 2019

I’ve written to them at least once every other week after the horrendous dance routine they pulled to get ”verified”.

Time to step up the game and contact them every day now.

mikho · December 2019

Someone is reading, got emails that my three pending withdrawels are on its way.

Takes 1-3 days to complete. Hope all is well.

poisson · December 2019

Better safe than sorry. Take defensive measures now.

InceptionHosting · December 2019

@mikho said:
Someone is reading, got emails that my three pending withdrawels are on its way.

Takes 1-3 days to complete. Hope all is well.

Keep us updated.

mikho · December 2019

@AnthonySmith said:

@mikho said:
Someone is reading, got emails that my three pending withdrawels are on its way.

Takes 1-3 days to complete. Hope all is well.

Keep us updated.

Strange things happen .....

got this reply to my ticket today:

Hello,

We are truly sorry for putting you in this uncomfortable position. I can assure you that we will resume the SEPA withdrawals as soon as the issues with our banking providers are dealt with, which shouldn't take too long.

Sadly, I cannot provide an exact timeline for it, but please remain patient as we’re getting closer.

Best,
CoinGate

InceptionHosting · December 2019

I got this:

We’re sorry to let you know that the SEPA payment option is temporarily disabled due to the transition period between changing our banking service providers.

I think they are dead.

mikho · December 2019

@AnthonySmith said:
I got this:

We’re sorry to let you know that the SEPA payment option is temporarily disabled due to the transition period between changing our banking service providers.

I think they are dead.

That was the first reply I got, 3 months ago.

I've temporarily disabled the coingate payment gateway.

mikho · December 2019

Checked my bank statement and behold, there was a payout from coingate.

InceptionHosting · December 2019

@mikho, what did it take to get that?

mikho · December 2019

@AnthonySmith said:
@mikho, what did it take to get that?

6-8 tickets over a period of three months.
A tweet and this thread.
Last ticket was a bit passive aggresive.
Letting them know that this could spin out if more customers got wind from this.

InceptionHosting · December 2019

is that all?

lol

MichaelCee · December 2019

Was there a difference in the source of the payment vs any withdrawals beforehand?

mikho · December 2019

@SmallWeb said:
Was there a difference in the source of the payment vs any withdrawals beforehand?

Nope.
This has been the same setup as of day one.
First payment were on hold due to ”verification of the company”.

It was really low priority from my side.
When I finally sent in the papers, they were in the middle of changing SEPA payout gateway.

Looks like they found one now.

Coingate may be about to implode

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