Bitcoin Forum

Guys be careful to use the service of coinbase even buying with credit card many coinbase users are halving problem about buying and funds stole from their remaining bitcoin balance in coinbase account..
Check their community forum
https://community.coinbase.com/t/coinbase-is-worthless/13272
https://community.coinbase.com/t/issue-with-gdax-money-missing/13107
https://community.coinbase.com/t/coinbase-balance-i-bought-uros-to-btc-on-thursday-morning-to-trade-today-is-saturday-and-still-it-says-arrives-on-thursday-what-is-happening-not-answer-from-support-yet-thank-you-very-much/13232

And many issue are happen right now with coinbase i just want to inform you guys to don't use coinbase right now..
I experience of decreasing my vault funds and now i am trying to transfer it to other wallet before they stole all my bitcoins..

Coinbase is worthless since day 1.They're centralized bitcoin exchange which tracks each and every transaction of the user.Needless to say the funds would ripped of by coinbase as "document verification " remaining or put on hold until further notice.Why do people still use it?

Correct.Not wise to store your coins on a bitcoin bank operated by government officials.

My problem right now is bitcoin address that i use right now is coinbase bitcoin addresss so if bitmixer paid me i'll change my address and use electrum instead.. and i hope that i can transfer my funds after receive in coinbase.
I will never use them again after i got all my funds in vault..

What happened with coinbase?  is it hacked? I watched the price being down about 45 minutes ago. I doubt if coinbase wallet is relative to this price?
Waiting for new update form coinbase.

Thanks for the warning.
I was considering using it today :) created an account few hours ago... lucky me.
Thing that slowed me down in bitcoin transfer was that said vault. Got me question the point of the service.
Wallet is a form of vault so why create another one inside already existing? Strange to say the least.
Next are the information they are trying to gather from user... another warning light.
Now I know, not worth it. Thanks again!

They are not hacked, the issue here is regarding to their service and i cannot trust them also since i see many bad feedbacks throwing at them and i think that is enough for me to decide on be carefull on doing some transaction at coinbase, and people should be more aware for this so they don't get some headache if there are bad issue will hit on their wallet.

Never had any problems with coinbase, except when buying btc sometimes it says failed and takes money from the card little bit later. You could just always do this if you dont want to get tracked by them: coinbase -> wallet -> bitcoin mixer service -> wallet. Don't store your bitcoins there, withdraw asap to an address you own private key for.

The moment money arrives in the coinbase wallet,logically you give out your control to the exchange.Meaning,they can do whatever the fuck they want with the coins.If the sources of your coins is through a gambling site or any fraudulent practices ,your account will be suspended with no explanations. Why choose a complicated way to make your bitcoins secure when you can simply use a small desktop wallet?

I do not mix my coins, but never had any problems when withdrawing to wallet and not to gambling sites. Also coinbase has lowest fees for me as i can get so im not changing because i've had a good experience with them.

No issues here I love coinbase, don't use it for shady shit and you will be good

That's why storing your coins in an exchange site which is a centralize one is not really safe, there are so many issues I read like this before, and I don't think why this wallet is listed on bitcoin.org (https://bitcoin.org/en/choose-your-wallet) which I think much better if it's not there like blockchain.info which has so many issues that cant be solve by them.

I have heard some really bad story's about coinbase over the years,

Hence why I refuse to use them for anything.

I hope you can resolve your situation with them! Good luck!

maybe coinbase has got problem with their security so many members of coinbase has stolen their balance, i hope the coinbase will fix this so we don't have to get worried to save our balance in that site. so far, i am not use coinbase again for any of transaction, but yes i have experience in the past with coinbase and i don't have a problem with them.

Interms on that, but what about.if you are buying at them or having a huge balance stored? Surely you will suffer a problem same as other people claimed here, but if you dont face any serious issue for now much better if you wouldn't store huge volume if btc in their, try to learn from peoples though since they experienced to be compromised by them.

That is why it is best to do small buys like under 100€ and then withdrawing to wallet, and then buying more. It is generally a bad idea to store your bitcoins on an address you dont hold private keys for. I do know that coinbase can be pretty shady sometimes. On OP's case, if it was a really big sum he should threaten with legal action if they do not give him his bitcoins or refund money. Lawyer can be option too.

Mainly all those cases as coinbase was delaying the btc transactions and mostly all of them have been solved. There is no issue with the wallet but they do check all the transactions.


About the wallet being unsafe:

I myself own a coinbase wallet and am very particular when it comes to users who send me bitcoins for trades. If they send me from their gambling wallet, my account is just ruined and that's why I switched back to xapo unless I'm receiving coins from exchange websites. My account coins were never stolen though.

Anything can turn out to be shady shit for coinbase because they can change their terms and conditions whenever they want to be in safer side from legal issues. They are not much than paypal, skrill etc like centralized payment processors and bitcoin wallet is just their front face  ;D :D

I 'm using coinbase wallet . it's very normal . Nothing happends. Today I send 0.5btc from coinbase to another address. it's ok.
Maybe you have issue with your account in your country. Good luck.

Is it just Coinbase that does this?

i think not, for example in my case our bitcoin exchanges sites here don't allow us to recieve or send coins from and to a gambling site like coinbase rule and ofcourse there are countries that online gambling is illegal so i believe they have the same rule for gambling on their ToS.

I have stopped using their services since long ago cause there are too many risks and honestly it is also because they have a bad reputation . Thanks for the warning OP but these kind of post has been circling so it is not just you, many people here have been affected .

Better store your coins in a desktop wallet/Cold storage especially if its a large amount . Avoid online wallets as much as possible and remember that If you don't have the private key the wallet is not literally yours .

This happens, coinbase In the first place is centralized exchange, they offer a wallet service, but why people not learning or research about what they doing, storing even just 1 cent on web wallet or exchange wallet is big NO, my cent still worth as fees.

Thanks for your kind warning.I'm already knowing about this issue earlier.Still im pretty comfortable using this service without facing any difficulty.Yeah! there have some tos those are difference from other so its better before going to any service or leave any comment first make ensure your general knowledge.Just a request.

I was just about to use coinbase because it was connected to our local exchanger and i can easily buy and sell ny btc, good thing thati saw this one. I was just afraid because just like coinbase the current exchanger site that I am currently using are also starting to be following KYC rules

You should read their TOS properly, avoid using their service for any gambling purpose if you won't your account locked by them.
I used coinbase when i was newbie i stopped using them when they locked my account i think it's due to the moment i sent bitcoin to primedice, if i'm not wrong.
There so many wallet better than coinbase however coinbase still the best place for those who want to convert their bitcoin to fiat, i am using exchanger that i can convert my bitcoin to cash asap yeah they have similar tos like coinbase.

Yes, probably they really are like following the same rules of coinbase that is why I am very much careful about it, as i also verified my account that includes my identity as well. Although this pretty much scary of where would they use it

If people have to use any bitcoin web wallet they why they do not come to blockchain which is the more reliable and more better web wallet. I am using that from a long ago and not found any issue with them. Why coinbase have a lot of issue and are bothering their members like paypal.

I think one of the reasons why many people using Coinbase is because this service offers free transactions. Many people sending or receiving only small transactions, this is why blokchain.info isn't best option for them. From my expperience of using Coinbase for more than two years I didn't faced any issues. But I don't use it as main my wallet. And if people decided to use Coinbase, they have to follow their ToS. If they don't break it, they won't get any problems.

Even applies to blockchain.info?
Could blockchain.info block the account if they so chose?

I only use private wallet (bitcoin core) for any purpose and I feel safe when using this private wallet.
everytime the price increases highly then there will be a lot of temptation to their greed such hacking, technology issues,ddos ....
Generally, There are many reasons to blame on it when you use online wallet.

Coinbase is known to the US Government as the most used bitcoin wallet and they keep receiving notices to submit the details of all the US customers and release their information. https://www.deepdotweb.com/2016/11/29/irs-demands-entire-coinbase-user-database-tax-purposes/

They had also exposed an exchange earlier and they keep tracking how users send and receive bitcoins.

Even other wallets such as Xapo ask users for their identity proof (I have sent the same earlier) and I've heard the same about blockchain too https://www.reddit.com/r/Bitcoin/comments/3nwt09/blockchain_has_the_worst_customer_support/

In short, all online wallets are not as trustworthy compared to hardware wallets.

I'm planning to use coinbase wallet just sign up few days ago. Thank you for this post actually I've heard some negative reviews couple weeks ago about coinbase but ignored it so I think it's time for me to not use their wallet.

when they locked your a/c, did they give u any explanation?
then how to settle?

as bitcoin ald become gambling coin, what wallet they use?

i use coinbase easier so i need to confirmed with u again.

I also not find any issue. the only issue is they not support my country only.
and also my transaction is small.

coinbase do transaction so simple .


the bad things i don't like is need to verify.

For those people who face issues in coinbase and need a free transaction service then they have to adopt xapo for that purpose because xapo currently have much lesser problems to the community a few months ago there were much complaints against xapo but nowadays the complaints are much less.

I don't agree. Xapo isn't better than Coinbase. Xapo have very slow support and sometimes they even not reply to support messages. And Xapo can lock account and ask user verification. And sometimes verification tooks week or even more.

Its seems many users hates coinbase now. Coinbase is a centralized exchange. They collect personal informations which they give to authority. Now government in US are now chasing their customers on US for evading tax. Coinbase is also known for stealing on customers funds and banning accounts for no reason. No doubt why many people hates coinbase. In addition of op's FUD. Here https://bitcointalk.org/index.php?topic=1751654.0. Coinbase is fucked.

Probably because of the "free" transaction fees.  :P Coinbase pays for that, which is the only way they could get anyone to use their wallet.
Coinbase and  Xapo? Far as I'm concerned, they're all the same. You use them because transaction is free and in exchange you hand over full control of your funds.

Like they say, you get what you pay for.

For anyone who wants control of their money, use Electrum or other desktop wallets and you'd get none of that TOS, Verification and whatnot. Of course, you pay for your own fees.
For anyone who doesn't like paying for their own transaction fees, then deal with all those strings attached.

As for me? I use both. Coinbase for when I'm skimping on fees and Electrum for the main wallet.

What are the fees like when you use your own desktop wallet and
how long does it take to download the whole blockchain with setup of Electrum or desktop wallets?

I'm wondering why do they still have so many clients if there is so much negative feedback?

Electrum wallet is available for multiple platforms and size of the wallet is also lesser than 50 MB only. Please choose the preferred platform as you desired https://electrum.org/#download
Coinbase fees has been increased nearly to 0.001 for the transaction, this is ridiculous to for a each transaction but transaction speed more faster than earlier.

Much better to use electrum since you have a fully control about the fee unlike in coinbase.. i stop using them because of the fee and delays responce if i experience of any issue about coinbase wallet..
The good thing in electrum you can backup your bitcoin address private key that you can install it in other wallet like multibit HD or other wallet..
Never had any problem about electrum and i can set my own fee in option settings..
just relay what should the good fee to use here https://bitcoinfees.21.co/

well, good thing that I am using a different wallet service provider which is locally operated here in my country, honestly I have made an account in coinbase 1 year ago but I haven't tried to store any amount on it ;D despite the negative comments and feedback about their service I am still curious why coinbase seemed to be common as it is used as a processor for bitcoin payment method on a game that I was playing before ;D by the way, thank you for giving this warning .

You guys are scaring me right now. I'm user of coinbase and my 50% funds are on the coinbase only. I will have to move all the balance right away on safer place. This is just insane that wallets are going down too. Where is the concept of bitcoin where we use to say bitcoin is safest treasure in the world. Anyway these things are made by human and they can crack it at any time. I moving my funds right away. Thanks for the info, please update more on this if anyone gets clearer idea what's going on with it.

It is good that there is bitcointalk. Today I just registered there, but luckily I haven't put a single cent. Now I will not. If so many negative reviews on this forum then it is a sure sign that it is possible to lose all of my coins.

I was using coinbase wallet till last week. I hadn't  experienced anything like missing funds from my wallet  . For me its a good wallet. So sad to hear many lost funds from their coinbase wallet. But I transferred all my coins from coinbase to unocoin wallet. Unocoin wallet is actually a Indian online wallet. I transferred my coins from there because nowadays coinbase is charging hugh transaction fees.   

I do not think it a scam but what actually coinbase service is worth?
If a new account is created, they take two much time to verify the documents you provide for verification!
You can't get any replies for you queries!
If you buy bitcoins with credit card, you will have to wait even weeks to see it in your wallet!
These are some realistic truths about coinbase i have personally experienced.

Most of people that use bitcoin and that make bitcoin transaction with a low amount of bitcoin want to find a wallet that could cover the transaction fees, and so coinbase and xapo were but now they aren't anymore because the transcation fees has been increased very much. Coinbase is a good exchange buying selling bitcoin but as we know they require to be verified and the fees are not low.

For Electrum, I've found that a standard transaction (1 input, 1 output) is usually just at 190-200bytes. Just multiply that with however much you want to pay per byte.
I haven't used coinbase personally for months now but from what I've been seeing from other users, their fees are higher.  

You don't have to download the whole blockchain with Electrum. It's less than 50mb. Setup is easy, just follow instructions or you could take a look at this 'tutorial'.http://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/

https://i.imgur.com/wtUvXuD.jpg

This is the lowest fee at the moment that we can set in Electrum, if you are not in hurry when transfering the bitcoin then this is a good option to save a little bit in fees. But 0.004btc/kB is standard fee for transaction to be included in the next 5 blocks otherwise with a fee of 0.007btc/kB it shows that tthe transaction can be included in the next 1st block.

This topic is not really a reliable sources of idea to believe as grounds of any warnings, because if there is such circumstances that happens everything can be fiex by site admins; speculating for any warnings about coinsbase is not a right actions to do. We should not say negative things on coinbase because it will not propagate good results specially when you have a stored btc with their site, better stay calm and raise any concerns with the site support.

Coinbase is the worst that I have used. The user is not in control of their private keys, that dismisses the basic principle of bitcoin - decentralization !
Months ago my coinbase wallet was also closed by them without any proper reason, some say that receiving funds from gambling sites ceases your web wallet. But I got payment from faucets and its system stilled banned the wallet.
Although, I was able to withdraw all my funds, and now I use Electrum.

Even if the online wallet service you are using does provide you with your private keys, you are still subject to centralization since you're not the sole owner of 'your' private keys. In order to avoid any form of centralization, you must avoid making use of online wallet services, exchanges, certain light weight wallet clients, etc. Only then you'll be able to fully benefit from Bitcoin's decentralization aspect.

You can trust it a lot.  Using it since long time. I have never gotten any problems with coinbase. They always have good price in the market. They pay me what I deserve. I can understand the fees are increased now but it is fault of blockchain as whole an not coinbase. I support coinbase a lot. Wish to get paid with it only.

Wow Coinbase's rivals will say anything. Even outright lie. LOL.  :D

They've got a ton of negative feedback but their brand name is still not tarnished at all. Not all people face the problems which others face with them. So a lot of happy clients still use them. Also, I guess the main reason why they attract and have so much clients is their SEO on search engines. Just type "buy bitcoin" on google and you can see them on the second result itself. Same goes with the "sell bitcoin", you can see them being the third result as well.

We don't get scammed.  The main thing is to not listen to the people here.  They take the time and effort to garner some rank so that that they can take advantage of it and hit people hard.  The next thing is to make sure that you are acting on your own choices and not those that are pushed on you by rumors and innuendo.  Also, at the same time do not let another person push you into something, even if they do not seem to be trying to.

I too end up at Coinbase for the first time through Google only, Although I have shifted to better wallets and exchanges, I still use the coinbase account. I never experienced any problem with it and transactions are quite fast in getting confirmations. So will be using coinbase in the future too.

Also for me mate, coinbase has not done any delays on my transactions and in fact their service of btc sending has lower rates. The transaction processing is very fast and I used it on the payment for transfer btc to my sister who had her another wallet too. Even though there's a lot of negative feed back from speculators, but it doesn't change my loyalty to this site due to their good partnership to me specially when I got to receive my payment I had from the present campaign I have right now; still coin base is the best online wallet for me.

Coinbase's web wallet really is one of the worst. Now that they've stopped providing specific services to wallet users it does nothing over any other web wallet other than being supposedely regulated (which isn't nessecerily good for most).

I don't think there is much change in Coinbase than adding fees in last few years. It used to be web wallet with zero control over funds in past too as at present. So if anyone was or is using Coinbase then it is only because he/she trust the company. And in my views company didn't change much from past and providing good service (atleast not insane fees like other mobile wallet doing).
So it is wrong to accuse company for no reason.

As previous users said it is mandatory to keep your bitcoins safe! Never keep them inside of an exchange or online wallet! Multibit or electrum are easy to install and quite fast!

I am currently using coinbase wallet service but up until now I have not encountered any problems that could cause harm to my wallet, if indeed this service is not good in arranging customer service please give me the reason?
So I can understand and display links.
Who feel has been harmed by this service, because of course this is very useful for me and other bitcoin users.

Thank you for providing this useful information and I think evey person should follow your recommendations. Of recent I have a collague have login problem and some coins was transferred to his coinbase account and until now cannot login. Hope they resolved this problem before it get late.

I have only once contacted their service and it was ok ok conclusion from me, Its never safe to keep your BTC or any other crypto currencies on exchanges. Desktop or Mobile wallets are the best to hold your cryptos, I nver sent more than 0.5BTC to coinbase account and I have never encountered any problem from them.

One of the wallets that have no option when doing transactions.
The fee is stucked there and you cannot even choose how much it should be even if you are ready to wait for a long transaction time.
I just use this service when I have no option but literally it aint good. They should fix their services if they want their users to grow.

yeah they set fees how much you have to pay for the transaction and the fees is very high $3 to $5.this is really suck you can not set your fees.
they track your transaction like FBI so you can not be anonymous.they can hold your account anytime ask you for document.if you not submit document they may close your account.

Coinbase seems to be having a lot of trouble recently with the price of bitcoin rising, their website seems to be down more often at crucial times when users wanted to sell their bitcoin at higher rates, and buy in bitcoin at lower rates but was denied doing so as the site was down, Coinbase reddit was flooded with tons of post from many angry and annoyed customers.

Many users are complaining on coinbase reddit that their support tickets was not being replied by anyone even after weeks of waiting regarding their issue, it seems that coinbase does not even care about their reputation nowadays.

Perhaps they are seeing themselves overtaken by the abrupt increase in the number of transactions and that will happen to other platforms established so either face the challenge or another service will take its place, that simple, in the other hand if that is true, what worries is that users can not access when they want to do an operation since it would not be reliable anymore, so users will determine whether it is feasible or not depending on their experience with them.