Finally, Coinbase Is Addressing Its Customer Service Issues
U.S.-based cryptocurrency exchange Coinbase has announced the hiring of a former Twitter executive to help shore up its fledgling customer service arm. The news comes amid growing criticism of the exchange’s handling of customer service requests, which can take weeks to process.
Twitter Exec Joins Coinbase
The company announced Monday the hiring of Tina Bhatnagar to vice president of operations and technology, where she will oversee the customer support branches of Coinbase and GDAX. Under Bhatnagar, Coinbase plans to double the size of its support team over three months and expand 24/7 telephone assistance to all customers.
When deciding to join Coinbase, I was not blind to the challenges ahead of me,” Bhatnagar said in a statement that appeared on the company blog. “But when I met Brian [Armstrong] and the team, I knew it would be a truly joint effort to run our customer operations how we envisioned it. It’s an exciting time, with Coinbase and crypto in the public eye more than ever before, but that also means it’s an even more critical moment to stake our position. And this can only happen if we do right by our customers every single day.”
In the blog post, co-founder Brian Armstrong described customer service as Coinbase’s top priority moving forward.
The hiring of Bhatnagar is the latest in a growing list of human resource acquisitions designed to beef up client interface. In December, the company hired Asiff Hirji to President and COO. Prior to joining the exchange, Hirji served in senior level roles at TD Ameritrade and HP.
Cypto Exchanges: Too Big, Too Fast
For all its customer service issues, Coinbase has done a better job of scaling than many of its global counterparts. Several of the leading crypto exchanges have either suspended new account registrations or simply failed to fulfill client requests during crypto madness last year. Although Coinbase has crashed on numerous occasions, it has generally not barred new account holders from signing up.
Last November, Coinbase overtook stock brokerage Charles Schwab for total active users. The platform currently has more than 13.3 million users.
Cryptocurrency trading exploded in 2017, with total assets climbing above three-quarters of a billion dollars globally. The market has experienced a huge setback this year on threats of a regulatory crackdown in South Korea, one of the world’s largest hubs for cryptocurrency trading. Even amid the selloffs, Coinbase reported “record volumes and traffic.”
Unlike other exchanges, Coinbase only supports four cryptocurrencies: bitcoin, Ethereum, Litecoin and bitcoin cash. Insiders say Coinbase will likely add several cryptocurrencies to its platform this year, with Ripple XRP among the leading candidates.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.