cancel purchase

How To Cancel a Cryptocurrency Purchase On Coinbase?

Without any doubt, this is a very sensitive question about cryptocurrency. 

And as a beginner…

You should be aware of everything you do in the world of crypto.

When you want to earn money in crypto, the first step is to invest some money and purchase cryptocurrencies that you think are worth it.

Then you can make money by selling them at a higher price later.

However, you must do it wisely and carefully.

You should care about things like:

• The platform or exchange you choose
• Cryptocurrency [coin or token] you buy
• The price of the cryptocurrency
• The amount you want to spend 

If you do all these steps carefully, you will be fine. Otherwise, things will get out of your hands.

How To Cancel a Cryptocurrency Purchase On Coinbase?

You cannot cancel a cryptocurrency purchase on any exchange including Coinbase.

However, the Coinbase exchange asks you to confirm your purchase before the action is completed.

They will prompt you to make sure that you are comfortable with the amount and timing of your order.

I will suggest you only click on confirm if you want the order to be processed as described in the confirmation window.

You can not undo your order.

Learn how to buy, and sell cryptocurrency carefully as a beginner.

Can I cancel an order on Coinbase?

Yes, you can only cancel open orders that are not fulfilled yet. Hover over the order that you want to cancel and then click “cancel” on the right-hand side of the order.

The order will be canceled.

Open orders are those unfilled and waiting orders that are not executed at the time.

However, if fulfilled, they will no longer be open orders and it is impossible to undo and get them back.

Can I cancel a cryptocurrency transaction on Coinbase?

The answer is no. transactions cannot be canceled or altered once they are initiated. As a crypto user/trader, you must be careful when you send funds.

Transactions cannot be undone. 

There is only one way.

But looks so complicated and has a low chance of success.

The only way is to ask the recipient for a refund.

Can Coinbase payments be reversed?

Once again, the answer is no. Once the payment is made, there is no way for Coinbase to reverse the transaction or reclaim funds on your behalf.

Why?

Because…

All the crypto transactions are peer-to-peer payments from the customers { buyer] to the merchant [seller].

Coinbase just provides you the platform and service to buy, and sell crypto.

Conclusion

Crypto transactions can not be canceled. The cryptocurrency system and nature do not allow you to get your transaction back or get a refund. 

The solution is to take all the steps wisely and be careful.

Check all the details before confirming and approving your transactions and orders.