• Fri. Aug 5th, 2022

Coinbase has hired an army of support staff to keep customers happy

ByJulie J. Helfer

Jul 4, 2021

In short

  • The number of Coinbase support staff has increased 5x since January.
  • The customer contact rate was reduced by 70%.
  • More live help features are expected in the coming months.

Tired of Coinbase customer service? Help is here, said the crypto Exchange, which yesterday blogged about the army of support agents it has hired to resolve its customers’ issues with the service and outlined further steps to come.

Since Brian Armstrong founded the company nine years ago, customer complaints have piled up. In 2018, Mashable got a 134 page reporting customer complaints through a Freedom of Information request with the U.S. Securities and Exchange Commission.

The image that emerged at the time was that of discontent Coinbase users generally had two problems: either their funds had mysteriously disappearedoften prompting accusations that Coinbase itself sequestered the moneyor they had been locked out of their accounts.

When Coinbase went public in April this year, The New York Times reported that Coinbase customers still reported the recurring problems of missing funds and blocked accounts. Little had changed.

How does Coinbase handle this?

But Coinbase says things are looking up. In yesterday’s blog post, Casper Sorensen, VP of Customer Support, said the exchange has significantly reduced its backlog of customer complaints.

Year-to-date, Sorensen said Coinbase had reduced the number of times its active customers contacted the company by 70%, despite a 28% increase in its total user base.

To do this, Sorensen said Coinbase quintupled its customer support staff by hiring 3,000 additional agents. Educating customers on how to protect their accounts from scams and recommending wealthy customers to implement two-factor verification checks has also helped, he said.

In the “coming months”, the exchange plans to launch live chat and phone support.

By going public, the stakes have increased dramatically. After all, happy customers could simply add Coinbase stocks to their portfolios alongside Bitcoin and Ethereum.

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