Bitcoin Forum

People talking about coinbase is  scamming!! Is it true? I want to know about this topic why they are telling like this? If this type of wallet scam people then what happend!!

Coinbase might have an issue but its one of the most known exchange platforms nowadays which is based in USA.So in talks of legitimacy then i can say that they are trusted enough.

Asking about wallets that do scam people? Just be careful on phishing sites that mimic out top or known centralized wallets or to those unknown platforms but i would suggest that

you shouldnt make use of these platforms for the storage of your coin- Its always been better to make use of non-custodial ones.If you are pertaining on buying out crypto
then this place is a good option.

When we talk about cryptos, this means that you gave someone or an entity some of your money and failed to return it to you, but the difference is that the scammers steal that money for themselves, something that has not been proven in Coinbase and therefore is not considered as a scam.

Some people because of the rape because of the loss of their money or the failure of the support team to return them, call them scammers, but it is incorrect.

Using Coinbase as a personal wallet would make a lot of issues. Some of them are unsolved ones; It generates a unique btc address for each account to make external deposits but when to move btc from own balance, the transactions are broadcasted from the coinbase hot wallet. This would make more confusion in the mind of a biggener who will never understand that he doesn't own that btc address given from coinbase.
And as only newcomers to crypto would use the coinbase to get their first btc wallet, once they get in troubles they accuse coinbase to be a scam.
Coinbase is a legit trusted exchange. None yet has solid proofs against Coinbase being a fraud. You can safely use it as a legit exchange, not as a btc client .

They are not scammers as such but will not hesitate lock up your funds in case they come from a suspicious sources like Money Laundering or gambling since they are so strict and try to a bid by the regulations. I would never advice you to use them as a wallet

So far, I haven't heard anyone accusing coinbase for being a scam. I do use them (though I would never recommend anyone to use any kind of web wallets), and never faced any such problem. Though, their support is really bad, like really "bad bad". Had an issue once, where my card was charged. I contacted my bank, they said everything was okay on their side, the problem was with coinbase. Took me over an month to solve "this simple" issue I faced.
Another reason why people might call coinbase scam (and why you shouldn't be using it) is because you won't have access to the private keys of your own wallet (though coins actually aren't stored on your wallet).

Where did you hear this? People keep talking shit because they know shit and they make up shit to talk about it, understood? 8)

If you have any proof, post it here and members can evaluate it whether it is real or not. Many times smear campaigns are run by competitors to make other sites look but.

Another point is that coinbase is web wallet that does not give complete access to the private keys for its users. But that does not mean that it going to scam its users. Storing coins there has risk of the site database getting hacked one fine day which is why it is less preferred to be used as a wallet then desktop wallets.

Coinbase is not a  scam but having said that this does not mean that you keep all your funds there. A web wallet should not be used to permanently store your coins. Since in case of a site down , hack or any other individual case problem, your funds could be held or stolen. Always use a wallet where you have full control through private key.

Coinbase is one of the most trusted exchange globally and obviously the most popular in the US. Thinking coinbase will even think about scamming its customer for few dollars and risk destroying their reputation that they spent years building is just insane. Do understand that the exchange is worth thousands of million and are capable of paying for any lost experience by its customers which is as a result of the fault of the exchange.

Since I haven't heard any rumors of what you're accusing them of, I took some time to do few research and the only scams accusation I read were related to customers getting angry with the exchange for some delay withdraw due to KYC procedures and all that. Coinbase is one of the few exchange I can vouch for but that doesn't mean you should go trusting them with storing your funds also I understand that any project can result to scam in the future but with them, it's bery unlikely especially as they're registered and not operating anonymously.

Coinbase wallet is one of the most trusted wallets international, and so far I didn't hear any serious issue against them just like hacking or losing funds. Commonly, just a minor errors. But for me, a web wallet is prone to scam that's why I didn't use Coinbase. This is a global digital asset exchange company (GDAX), though it is a wallet at the same time it is an exchange supported with selective cryptocurrency.

If you are choosing a good wallet, choose a hardware wallet that you the one who holds your private key and password. If not, it means the fund you put in that wallet isn't yours.