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I have an account on Coinbase and have an ETH Wallet with them. If someone sends their ERC20 token, will there be any issues receiving it?

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There's nothing technically CoinBase could do to stop someone from sending tokens to one of their addresses--that transfer takes place in the token contract and can be initiated by the sending account, and the 'record' of that transfer is stored in the token contract's balance map.

You do not want to send your tokens to Coinbase, however, for a least two reasons. First, they hold the private key of your account. If you needed to later send the tokens out of that account, the only way to do that would be to ask them kindly to do it for you. The second reason is, as far as I know, they do not provide an interface to deal with tokens. If they did, then maybe you would be able to send the tokens out, but without it, the token would be stuck in there forever.

I think I answered your question. If I misunderstood, please let me know and I will remove this answer and let someone else take a shot.

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  • Does anyone know WHY they don't implement token support? It's a big market these days and I don't understand what's stopping them. – Tobias Dec 14 '17 at 16:39
  • No clue. Possibly similar reason to why they only secure three different coins. Every added coin (or token) might add new attacking vectors, so they’re conservative. I’m not certain but I doubt that they have a separate private key for every user. If that’s the case, they would have to build a different accounting system to account for everyone’s token holding. Large task. – Thomas Jay Rush Dec 14 '17 at 23:20
  • Also, I'm sure CoinBase doesn't want to deal with figuring out how to report tokens to the various government agencies that want a cut, or to regulate them. – Ether Dude May 14 '18 at 22:35
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Absolutely do not send any tokens to Coinbase accounts.

Coinbase does not support tokens. Coinbase customer support does not offer help to recover accidentally send tokens. Consider your tokens lost.

0

DID YOU KNOW....

Coinbase actually holds avenues to accept any type of token.

They however will not "support" the token for you.

Consider it more like a donation to Coinbase if you send them there. ; )

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