Bitcoin Forum

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
 Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

i always say, i think it is a good service but only for purchasing bitcoin because it is easy and newbie friendly and helps those who are not so familiar with bitcoin get started with it easily.

but the problem is that you should not use it as a wallet. simply because of two reasons: it is online on a third party website and also you don't have access to your private keys.

ya, thats one of the main reason but there is another one: all online wallets arenot very safe . we dont recommend  you to put a big amount of money on online wallets. all online wallets are unsafe

i hate it because it reveals real names of the user just when you send btc.
I do see its for users going to be involve in money laundering but if you are not going to buy btc with your creditcard or paypal, its not that necessary to use coinbase.

i like coinbase because without fee every send

but much people hate coinbase maybe can't use private key

Well.Thank for your quick reply.At present I've not associated with other wallet right now.So which wallet do you offer for me to holding some bitcoin or other purpose obviously for safety.

If you are going to store only few bitcoins then coinbase is good, since no fees for sending your bitcoins above 0.0001, that limit is cool for normal bitcoiners.

As far as safety no web wallets are completely safe, but till now i haven't encountered any issues with the coinbase. And remember coinbase monitors your activity and if you use bitcoins to gamble or trade your account might get banned



Nope you can have access to your private key by having an account in multisig vault here is the link https://www.coinbase.com/multisig

bitcoin core is best one to hold some bitcoins, but be carefull and dont forget to remember wallet key. before you decide to make something you must read and understand many things. or you may loose your money

Why don't you set up Electrum in your dekstop? They can provide the safety to your bitcoin.
If you still want to use online wallet service, make sure you read all the rule and term of service before you using their service , especially coinbase. You will not like it when your account get blocked for violating their rules.

It just because in coinbase every time to receive payment from unkown transaction it always generate new wallet address and people might hate that because of newly address appeared once transaction are done and yes the one reason is if coinbase detected that your bitcoin are came from gambling it may cause of your account to be closed.

Yeah I agree coinbase is generating new address every successful transaction so for the beginners the confusing or didn't know what is there real address.

Im just using coinbase too when i was a new in bitcoin but i don't like the most in coinbase is like what i've mentioned earlier so i choose bitcoin wallet that really based on my country :) you know that galer because were both from 1 country :P its much more better if we use bitcoin wallet that really based on our country right.

It's so easy to find the answer why people hate coinbase but let me write down a few arguments for you to know as well.

1. It's an online web wallet which means you are relying on third party to hold your bitcoins and the need to use their website to send and receive bitcoins
2. You don't own the private keys of your wallet and if you don't own the private keys you don't own any bitcoins.
3. They can close your account if they just have doubts about you being involved in a gambling site and there is nothing you can do about this.
4. A web online wallet can always be hacked and usernames and passwords can be stolen from their database if the hacker(s) are really good ones.

These are enough reasons for me to hate any such kind of wallet so other people are right too to hate coinbase.

I agree with your 3 points which are really true and correct, but 4th point about hacking if the coinbase site gets hacked then their will be lot of trouble but if a user account gets hacked then its users fault as i am using coinbase for more then 2 yrs and i am utilizing both 2FA security like mobile sms and email verification if i am using from another computer or IP address which is very good which can save my account from hackers as they can hack my email id also but they cannot get inside my mobile number so i like their security system.

Yes,me too. In coinbase there have a good security that's why I use this system but now I'm really truble for this reason..what happened if my account blocked or banned by coinbase security?

I used coinbase when i was newbie, since it's free yeah they"re paying the transactions fee for you, when i saw many cases out there about locked account, being froze and others then i stopped using it i think it's better if you control the private key so no one can't freeze your money whatever you do. This is the one reason why i don't like the coinbase and other reasons some people have mentioned them above.

Thank you for sharing your point of view why not you like to use coinbase. Must be benefit  from this opinion.

As much as I remember from the earlier talk, security isn't the best. But I, as someone who doesn't store that much of value onto wallet, didn't find that problem to be the big one, tho I'm still on blockcain.info

they have to abide by some very strict rules to keep their bank and regulators happy so that means no gambling, no dark markets, nothing else questionable. that goes against what many people feel bitcoin should be for. if they don't like it then they have plenty of options.

another big reason which doesn't seem to have been mentioned here yet, is coinbase's trash talk about bitcoin's future. they have a problem with the lack of scaling and how it's being addressed and they also embraced ethereum which is a whole lot more slapdash than bitcoin is.

I use coinbase but the issue you mentioned is not the reason I dislike the wallet. I find they only have trading and withdrawal options for US users and not for other countries. Their PayPal withdrawal as well as bank withdrawal is limited only to US consumers. They need to make these options international so that more users could use their wallet services. Besides this, I am quite happy having an account as it's fast and easy to send/receive money and the transactions too get confirmed within 5 mins.

Not everyone hates coinbase. who hates it does because it is a centralized website that does not give you any control over your bitcoin at all. also they are known for suspending any suspicious accounts. while others like it because it is easy to buy and sell btc from them if they support your country and it pays the txs fees

1&2. It is only valid when online wallet is not letting you copy your private keys. There are online services which give you full access to that. Coinbase isn't one of them.
3. Only true when comes to Coinbase and Xapo maybe some other lesser known online wallet. I never heard that someone got suspended on Blockchain.info for gambling
4. I don't know how good is Coinbase's Security and methods. But in blockchain.info case even operator doesn't have access to your passwords as they are encrypted.

according to my views the reason is that they are more strict in their rules and because of these rules they often freeze the accounts of their members which are not favorable by any user of bitcoin.

they don't have any choice. if they want to stay in business then they have to follow the rules that are laid down for them. I doubt anyone wants to turn customers away but that's the price of staying afloat. if customers don't like then they need to get elected to office and change something. nothing coinbase can do about it. 

it is not just because of the rules they have, it is because of the way this service is like. when using coinbase you are technically using a service that you can even call a bank, and as a bitcoin user and lover i call it against the nature of bitcoin.

I totally agree with you. In fact they are a bitcoin bank which is truly against the bitcoin philosophy. Basically you don't own your bitcoins as you don't own the private keys of your addresses there. Not worth using when there are much better web wallets with the same security.

Note that desktop wallet are much better and you really are in charge of everything regarding your bitcoins there.

I do not know why people do not like coinbase. It has many advantages function including non-fee transactions. Newbie bitcoin users will find it easy to use and understand. The design is great too

Well.This is the reason for me still using coinbase but I feel some rules of this wallet should be change in order to more attracting.

And except as an online third party app you don't have access the private  of your wallet address because every time you request a wallet it gives you with different wallet address and as an web wallet there are possibilities that it will be down or DDOS attack and once it it down you can't transfer your coins to others if you want but you have to wait if they back online and if they give you back your coin. And there are issues that coinbase have before like someone posted it here that he/she bought some bitcoins using his/her bank account there but coinbase doesn't reply him/her and I don't know if that issue was solved.

I like coinbase and i used coinbase wallet from the begening of my crypto business. for send fund coinbase are totally free. its secure and safe to me. when i log in my account i have to passed 2 verificastion,one is email verification and another is mobile number verificastion.with out verificastion any one never log in my account. using coinbase have one problem also that i know is, you can not send fund directly on gambling site. i am happy using coinbase

I have used coinbase to buy and sell bitcoins via my bank account and have had no problems. However, I wish there was an easier way other than providing so much personal information.

A few months ago I heard that coinbase has very strict rules and they freeze accounts that is why people do not like but according to my observation people do not like coinbase because they do not like gambling deposits from their wallet and when they observe a transaction to any gambling site from their wallet then they freeze their account.

i used coinbase thats good for me I have used coinbase to buy and sell bitcoins without problem

i don't like coinbase because not supported privatkey

As i can see or by experience people don't really like using this web wallet it just because coinbase is really not good when you are seing lot's of addresses on your wallet and everytime you accept payments from clients your address will automatically change -_- and this is not good for me and there are also policy that when they coughted your account that your earnings are related into any gambling site's your probably gone.

Probably the address it always change when you already receive from someone? Or maybe coinbase really hate seing bitcoin address that came from into gambling site. We'll you can really see your bitcoin address there even it's changing anythime when you done receiving from unknown sender you can still remain receive whenever it changed already.

Thank's for this information. Because I am planning to try out coinbase but upon reading your review from them, then that changed my mind. So I am going to stick more now with blockchain and won't try coinbase anymore. So that is disgusting if you worked hard for your bitcoins and they will just going to freeze it?

Personally I don't like or use any online wallet anymore. I learned my lesson after blockchain.info stole 0.05BTC from me and I was told I probably had spyware.

Any online wallet has your private keys. Don't use them. Would you give some random start up company your email passwords? I know what you're thinking "why would I? Why would they ever need them? I can still use my email without them." It's the same for bitcoins. Yoh don't need to trust anyone wifh your coins so don't!

I don't have the feeling that people don't like coinbase. But depends on experience they have. Some of them had problems with customer support or bad experience with freezing accounts which could be very annoying.

- they have limitation/restrictions to many countries on using their trading platform
- there are several case of frozen wallets, locked account by them so hard to trust them with heavy amount of bitcoins
- their verifcation requires so much documents even to move few bitcoins
- fee less transaction make it impossible for user to have full control over bitcoin stored in coinbase wallet because they don't provide private key of the bitcoin addresses we use in there.

I'm using Coinbase wallet for almost 2 years and I have only one address on this wallet. My address never changed.

For sure that base on the experience of other people like this one https://bitcointalk.org/index.php?topic=1651233.20 his coinbase account was hacked.

I don't know if those people are just negligent for their own accounts or does the support of coinbase has something to do with its security.

But for me, I don't have any other reason. I just don't like coinbase.

Not perfect wallet in the world, if we like a wallet maybe some peoples don't like. As my experience using coinbase I never got the problem and my bitcoin is safe. If my balance is more 1 btc, I use vault option.

Coinbase is, in my opinion, a good solution if you start on the bitcoin world. Wallet is set up fast and you can start doing transactions simply.
However, on a long-term perspective, I think it is better to move to an other solution such as desktop or paper wallets because of security concerns.

Besides a desktop wallet, I have a Coinbase wallet with few bucks on it which I use for day-to-day spending.
It is more convenient for me because transactions are fast and you don't have to pay fees.

Fast question for you, do you have copy of your private keys on your local machine? Because only if you have it you can say that your coins are safe.
I just want to add that Bitfinex prior to their hack was using multi-signature wallets, vaults and probably other advanced form of security. They still failed.

Coinbase act like online banks in restricting some countries and freezing accounts, while Bitcoin has been created to make everyone capable of using it wherever he is, therefore Blockchain wallet has more popularity and more users, I personally prefer Blockchain wallet.

I don't think that people hate too much coinbase because coinbase is one of the easiest way to obtain a bitcoin address and be able to spend them within short period of time without fees.

There are some limits on trading there and maybe people don't like this, also coinbase does not work everywhere and not all traders can trade there because of these restrictions.

Yes, it is simply  because they are too strict in the way they do things with customers. If you want to use coinbase you really need to get ready to face very rigid terms of service and if you cannot accept it then the service is not for you.

I dont   know  why  people  do  hate  coinbase  on  some  reasons  but   for me  they  have a good service and  its  very user friendly and    you could actually  make   transactions  with  ease  and   they  do  have  free of charge  on transferring  some  bitcoins to  another wallet  but  you must expect that the  transfer  or confirmation times  would  really longer though. All web wallets do have risk   on  lossing all your bitcoin on  it because  you dont posses   ts private keys. Thats why we should   only put up  small amounts of bitcoins  on  our web wallets.

Well for a number of reasons, one they are known to freeze your account without giving any proof of what happened, especially after you use a gambling account to withdraw or deposit to. They are also known to seize coins that are associated with the dark web.

Coinbase is one of the top (top 3 in my opinion) online wallets.
Now they released a new version with more features and better security.
I use the wallet for more than 2.5 years, also I'm using their API's (both 1 and 2 version) and all working fine.
I made some transactions (that mean over 100 btc total) and never had a problem.
The account is full verified (verified documents, credit card and bank account added.) I like that I can buy bitcoins with 2 clicks and withdraw directly to my bank account (and there is a fee of just 0.15 cents) no matter how big is the amount.
People say: we don't trust online wallets.  Yeah ..if you are so paranoic, why you trust Gmail or Facebook for example?

i never like web wallet service, high risk to safe my bitcoin i just like wallet run on my devices

But coinbase has high reputation among crypto users, so the risks will be very minimal (still there but in low percentage when compared to other providers). People are discussing here why they hate/like coinbase but you are sharing like you hate all online wallets. That is really good and very conscious measurement to secure your bitcoins all the times.

Coinbase is only good for US citizens who provides them every single detail and then they can buy bitcoins directly there with the credit card. The smallest error you make there and boom account closed. This is the main reason why people hat coinbase. If I were a US citizen I would use it only to buy bitcoins with credit card and immediately after transfer to my wallet, this way I would make good use of it.

But in general web wallets especially one like Coinbase in which you don't own the private keys is the worst choice to store your coins.

Not only dor US citizens.
I'm in Europe, I use Coinbase tu buy/sell bitcoins using my credit card and my bank account, and I dont have any problem with them.
The people wich don't like Coinbase are those who think they can be "anonymous" and they refuse to provide documents for verification (national ID, proof of address, bank statement, etc).
It is normal that if you want to buy bitcoins with 2 clicks using your credit card to prove that you own that card.

I like coinbase and the fact that you don't pay fees. It would have been my main account if not for the series of hacking incidents we've been having in crypto-world.

i don't think anyone apart from their competition dislikes coinbase. it actually is a good service and i believe that it and also others like circle are a helpful thing to have especially for newbies who want to start using bitcoin.

the only thing that people say against coinbase and service like that is that you shouldn't use them as your primary bitcoin wallet because first it is online and second it is a third party who controls the private keys.

You're lucky, because I also live in Europe, but in my country it's not available to buy/sell bitcoins on Coinbase.
And I can understand why people don't like Coinbase. They want to make bitcoin into centralized currency. Coinbase is like a bank. And they can ban user for bitcoins for gambling. Mostly bitcoin users hate regulations and want privacy.

I think this is not the reason from other members like i dont like coinbase because of its online and we dont know how long it will live. and i already experience of pending few months ago it takes too much time to fix my transaction before..

People like coinbase but only those who do not gamble while those people who gamble do not like and use coinbase because coinbase block all of those accounts with them which they feel that they are used for gambling and before that ban everyone was happy with coinbase and everyone was suggesting that on this forum but now its name reduced much at here.

I agree with everything you wrote. However, I would add that gamblers may have problems with Coinbase. There have been many cases that Coinbase blocked the accounts of people using online casinos. This is mainly due to the local laws for the specific users. In many countries, gambling is illegal, and for people from these countries Coinbase blocked accounts.

An additional thing that I learned today is that Coinbase enables the exchange of BTC to PayPal! It seems that finally I found a safe option to exchange to PayPal!

I am one of the victim before in coinbase who are halving problem with coinbase when i was sending win profit in some gambling site.. my transaction there is pending and it took too long to received.. that is why i contact them my account was not block but halving pending in my account that it takes few weeks before their fix it..

The cases which I have heard related to users who have a verified account in locations where gambling is illegal .. Can I ask if in the place where you have authorized Coinbase account (I mean the address of your bank or your address) gambling is legal?
Did you need to do any additional actions to unblock your funds, or Coinbase did it automatically?

Freezing accounts is really bad idea for those who don't read the rules and the policy of coinbase sometimes people are too lazy to read the rules and the policy of the website and then if they disaallowed rules ofcourse support will be to do something like that and you are going to complain and then knowing that there are some rules that you violated.

Most users just directly use without read the Coinbase rules and the policy. Depends as my experiences use Coinbase wallet more than 2 years and until now there is not get problem. We must wise to use all bicoin wallet and not perfect in the world.

I will show you why people don't like Coinbase - visit this site: http://bittrust.org/coinbase (http://bittrust.org/coinbase)
There you will find over 100 revues of people who used Coinbase before. Most people gave this service a 1 star review.
Go read some problems people had with Coinbase and you will understand.

The main reason to not to use coinbase is its Android app performance . i tried three time this wallet with Android app but it is less responsive ( usually at slow net ) so i think it may be a matter of less use .

You sair True its app needs some improvement but i think the main reason to not to use this wallet is its time to time verification . It always distrub tor its security . specially in browser when we clear histry then it needs verification , which is good thing but something is annoying .

I have never had a problem with Coinbase and think they are a good service. From reports I have read they are pretty quick to close accounts that violate their terms of service, can not hold that against them, they have to keep the regulators happy. More concerning is perhaps they need more customer service staff so people who have a problem are taken care of promptly. 

I think Coinbase is one of best online wallets, I don't know if coinbase will block if used for gambling. After know about it I must be carefully, because more than 3 months I was gambling use coinbase wallet. Thanks for your consideration

You can have your coinbase wallet with part of your money and use another wallet to send money to gambling sites. This feature of coinbase isn't good, but they have a positive point: don't take fees.

Use Blockchain of any other wallet to send coins to casinos or send the money from coinbase to an exchange address and from the exchange to the casino, I think it's simple to "lure" their fail system...

One of the factors people don't like Coinbase because it prohibits use to gamble. In addition Coinbase also requires some verification, so users feel less practical and dislike coinbase.

Just a clarification many reputable exchange sites now are doing the same thing as coinbase is implementing now.

Even here in my country, there is a local exchanger that requires us to send identification for them to get our accounts verified.

And also, they are banning accounts that are accepting bitcoins from gambling but with this, they can't even moderate it.

yeah that might be the main problem why some people don't like coinbase to be their wallet because of restricting people to use their service to be associated with transactions from gambling but despite this problem coinbase is good for buying bitcoin. i have tried coinbase before but it feels like confusing to have so many wallets ;D

Im using online wallet like xapo. And i have also mycellium wallet. But im not considering all online wallets are really safe. Some online wallets supends accounts thats proven they used it for gambling. Also you have no access to your private keys. Coinbase is good for buying bitcoin. But to store your btc there, not sure if its safe. Try cold storage intead of online wallets.

To me coinbase is cool as a wallet and I have no reeason to hate it. Besides, I even have an account there but all the web wallet are not totally safe.

I got no problem with coinbase. So far. Never lost any money, never encountered any issues. Admittedly, this doesn't mean I wouldn't ever encounter one. And, since I know a lot of people have had problems with it, I took the time to read their TOS.
I think it's pretty handy because it's free to send.

That being said, I admit it's not really my main wallet as well.  ;D It never has more than .1 . It's for small amounts only. I use mycelium for storing and also currently looking into hardware wallets, specifically Ledger.

Discussion about Coinbase begin, because they as a first online exchange start make problems for those who make transactions (withdrawals/deposits) with online casinos.
In my opinion it only shows their professionalism. It was not their idea to make problems for casino users. It is all about international law.
Now all exchanges and payment processors have to implement this kind of control.

And that's not the end. This same will happen with deposits/withdrawals from PayPal.

But such thing kills freedom of bitcoin. It makes btc as centralized wallet. And Coinbase is like bitcoin bank account. Yes, such control helps to guarantee safety and provide userfs many additional features. Such services like Coinbase or Xapo is against idea of bitcoin.

It have (almost) nothing to do with Bitcoin. This law is about FIAT currency and exchanges/debit cards where you buy/sell cryptocurrencies with fiat.
From your desktop wallet you can make transactions with whoever you want.
Solution: Buy Bitcoin with fiat on Coinbase -> transfer Bitcoin to your desktop wallet -> do with BTC what you want without control. Be free  :D

Coinbase blacklists addresses and may ban people for sending or receiving money from gambling websites. This goes against bitcoin's basic standards and is very anti-freedom. No wonder people have been saying that Coinbase is not suitable as a bitcoin wallet service. I've heard similar things about Circle as well.

Yes buddy and I never had any issues or problem with them either. Besides, I love their service and zero transaction fee. Lol

I only use coinbase when buying bitcoins as they are very good at it .

But I won't use their services as a bitcoin wallet because first, they don't give private keys,

second, you will not be anonymous anymore if you use them,

third,  They have strict rules it feels like you're using banks again

Well that's good  if you are doing this, because coinbase is not good to store your funds. Anytime your funds can be lost there and said they we're hack as an excuse or they will tell you that maybe someone knows your password that's why it happened. That is the always reasons they give to their customer if someone funds are lost.

"Why people don't like Coinbase?"

- because people use them to take advantage of the "free sends(no transaction fees)" while not even bothering to read Terms. Is it not common sense that when the word "free" is involved, there would usually be terms/requirements/strict rules attached? When a service is willing to pay for all your transaction fees, the least one could do is read their terms.
- they are strict
- support usually takes very long to respond

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Yes, coinbase might not give private keys but they provide/send sms short code each time a user logon his/her account which is still okay

There was a big issue about coinbase service in the US and that includes their government. When the IRS(correct me if I'm wrong) demanded that coinbase should provide the list of bitcoin users for 2013-2015(again correct me if im wrong) and As far as i know there were a lot of US citizen in the coinbase that verified their identity(that could cause them tax evation i guess) and that is not a good thing. Aside from that well users don't trust online wallet that much anyways.