Bitcoin Forum

Hey guys,

Do you guys buy entire 1 bitcoin on coinbase? Is it safe to keep the entire amount there?
Has anyone had difficulties withdrawing money or faced any fraud or did your money disappear on coinbase
out of nowhere?

You don't have to buy a full bitcoin, bitcoin is broken down into one hundred million pieces so you can buy as little and as much as you choose. I would not keep any funds on Coinbase infact I would advocate not even using Coinbase. They are the most well known but also have the most problems out of any exchanges not to mention charge the highest for fees. Don't know the last bit as never used Coinbase myself.

I havent that amount, but i know peoples, who have 10 and mor btc in coinbase.
Didnt hear anything about problems. Sometimes it have huge fee.

From the moment you own a decent amount of bitcoins (such as 1 bitcoin or even 0.5 bitcoin) it is better to have full control over your bitcoins and to not place it on a exchange. One of the best options would be to store them in a hardware wallet such as Trezor or Ledger Nano S.

I have actually heard of a large number of people that have had a fair amount of issues with Coinbase, the overall sentiment seems to be negative towards Coinbase due to a severe case of mucking about with customer accounts and not leaving the wallet owners alone all the time, many stories of frozen accounts and the like. I would likely prefer to keep my wealth out of Coinbase, in fact I do as I have transferred away from their platform and onto blockchain for my online wallets. I don't like their business practices and I will remain outside of their influence for as long as I can, personally.

Coinbase is an old and time tested wallet service provider. They are a legal entity. You don't have to buy a whole bitcoin from them, you can buy in smaller fractions as well. However, they have few restrictions which are country specific. So check the faq section before you start the procedure. Also check if you need to submit your kyc documents or not. If you are compliant with their regulations, you are not expected to have any issue with them. I have been using their service since long and have never faced any issue, even though I didn't buy any bitcoin from them. I just use coinbase for storage of my coins.

it is never safe to keep your bitcoins in web wallet as you dont have controll over your bitcoin wallet private key. Coinbase can ban your account anytime without giving any reason. So it is much better to keep your investment in hardware or software wallet like, electrum which is easy to access and security is also good.

I only hear people whining about how expensive and slow Coinbase is, so I'd stay away for now until it gets the necessary upgrades to function properly.

Coinbase is safe. There's alot of talk about inside trading to manipulate bitcoin cash price but there's not fraud or stealings report and you should be okay. And if you're some kind of big whale with over 100 btc then it would be probably wiser to switch to a hardware wallet to be more secure.

After reading the comments on this page I also have doubts wether to use Coinbase or not. Which other similar site gives you a platform to change BTC into FIAT if you need FIAT?

Coinbase is good for buying and selling bitcoin due to their market price update simultaneously and the only bad experience had using their system which I'm still trying to workout happened last year when the high traffic occur their 2FA is no more send to my phone.

If you keep 1 bitcoin in a wallet, what is the network fee to transfer out of the wallet to an address?
What is safe online wallet or offline? Is there a way to know how much profit I made if i keep in the wallet, would
it show how much total dollars I have including the increase in value in the wallet?

You dont have to buy 1, you can buy fractions. If you have your account verified and are not breaking their rules, gambling, underage etc then you should be find. After buying coins you could always send them off of coinbase, as you dont own your private keys when they are on the site.

I have been a Coinbase customer for quite a few years now and I’ve only had a minor issue with my account. While the price was much lower I have purchased a full bitcoin before and never had any problems.  Throughout the years I have also cashed out a few thousand dollars again, never with any issues. I think when base is one of the leading companies in the world And it looks like it’s not going anywhere anytime soon.

Yea you can buy fractions of a BTC, but if you want to then buy 1BTC, it's a nice whole round number ;) if you're going to long term hodl I'de look at getting a Trezor or Ledger nano S. If you plan on spending it personally I'de pull it into a wallet like EXODUS or Samourai wallet (because smart miner fees & RBF) backup and encrypt the wallet (store backup in 3x different places) and do it that way. Your welcome for the sound advice ;) Cheers!

Thank you for the advice :)
If I put in Trezor or ledger, i cant spend it? Is there a fee to transfer to an address?
How safe is exodus and samourai? what are the fees?
Will I be able to see the increase in profit on these wallets? And where can I backup 3 different places?

It's important to understand how Coinbase thinks about regulation and compliance in the digital currency space. As an exchange, we view compliance as key to digital currency's success. At Coinbase, our mission is to create an open financial system for the world. We believe that open protocols for money will create more innovation, economic freedom, and equality of opportunity in the world, just like the Internet did for publishing information.

Yes but how safe is it to keep $15000 on coinbase? Can someone hack or members from the company steal anyones money from their account?

It is safe to keep your bitcoins in coinbase or even at blockchain.info online wallets. Both are good.

Well, first my country is not accepted to buy or sell something in coinbase exchanger.
As i know coinbase is top reputable exchanger and i heard nobody complaint to coinbase about any issue so i think it is safety.

It is not required to purchase a whole amount of bitcoin. You can opt to purchase a hundredth of a bitcoin or even less. With regards to keeping your bitcoin in coinbase, i have a few buddies of mine that is keeping around 3-4 bitcoins in Coinbase, so I would say that there is no problem with their security since my friends were able to withdraw his funds anytime they want. Nevertheless, keep your funds scattered, don't put them all in one place would be the best option.

There are 2 items that come to mind with Coinbase. (I do have an account there)

     1. They lost the tax case in the USA, and will be supplying information about customer that have over $20,000.00 USA.

     2. Besides having a wallet they also have a "Vault" where you can put all or part of your wallet. I did that, as I fall under #1 above.
         Near the holidays when things started to get crazy in the crypto markets, I wanted to take my profits and store them in my $$ wallet.
         I was more than a little frustrated that it takes 48 banking hours just o move your money from "your" Vault to "your" wallet. you can cancel the transfer anytime during the 48 banking hours. Because of this I lost the opportunity bail out at 17K-18K/BTC and back in at 12K-13K/BTC. Lesson learned reality I did not loose anything but an opportunity.

        Also there is a pretty low $$ limit per month to remove from the hands of Coinbase or GCAX.

        For BTC and ETH I found Gemini a bit more flexible, but they also report to the IRS> (Of course if you are not a citizen of the USA this is of little interest to you)

        I now have a miner running in my garage, controlled by a computer in my office. If I have to do taxes on this stuff, then let me get some reduction by charging for my mining business.  :D

coinbase is very safe. You can buy as many as you want. Not necessarily 1 or 2 btc

its better buy wallet hardware if u have good amount why u take risk

Will the company take the gurantee to protect people for putting money in their wallet?

I think Coinbase is one of those online wallets that's useless for storing BTCs we get.

I think the funds are most likely safe there, it just may be very difficult to access them during times of volatility

Coinbase is a nice platform for saving and receiving your Bitcoin and other cryptocurrencies, day by day website is getting accepted and popular among the Bitcoin users, not only that but also Ethereum and other rising altcoin users also have chosen Coinbase.
the developer team is very careful about its security options so that there is no chance to hack your stock form this platform. That's why I can suggest you using Coinbase website for the transaction of your cryptocurrencies.

yes, I used to buy more 3 btc on coinbase but I don't think it is safe for me storing on it. So, I buy Ledger S cold wallet and store all my btc data for long term. But if you buy btc and trading everyday for profit, you have to believe exchange, store your btc data on exchange for immediately transaction

I upload to Coinbase and transfer to Gdax to buy and sell. I do not store on either exchange.

No, you don't need to buy a whole bitcoin, you can buy just fractional parts of it.
1 bitcoin already equates to a big amount of money, it is never recommended to store this amount or more to a web/app wallet/exchange. A hardware wallet would save you here.
Though Coinbase has been operating for 6 years and one of the most famous and trusted companies, they still have a lot of issues, more unresolved than resolved, and they do have very poor customer support.

But what about coinbase vault? Isnt that safe just like wallet?

Coinbase has been my first wallet account in the world of crypto currency, amongst the multitude of digital currency exchange sites, The reason being the fact that they are a legal entity, time tested and an old company and has been proving its performance to multiple investors and crypto users all over the world from the moment it was originated. The benefits of having it includes the ability to buy or sell bitcoins quickly. A few others would be easy transfer of mainstream currency, buy or sell over different coinbase's exchange trading platform, like GDAX, the need to identify the account holder which is mandatory, easy and simple to use, automatic fee calculator, inbuilt graphs making it simple. Amongst the risks would be need of provide your ID that might create the risk of getting your account frozen for some time, a rare possibility of going bankrupt and close down and disappear which will not happen soon, limited control over your private keys etc.

Hopefully more alternatives will open up instead of coinbase.  There are not many options for buying crypto at this moment so we are in dire of need of more mainstream exchanges.

As i know coinbase is popular and reputable exchanger to place bitcoin.
But its depending on your strategy. Dont store in any exchanger if you are long term player. Only store it there if you are short term. So you can sell soon you want.

There will be no problems, keep it.
But if you need a very reliable place - store it on your computer.

A growing number of Coinbase customers complain that the Cryptoconarance Exchange withdrew unauthorized money from their accounts. In some cases, this puts their combined bank accounts at the bottom of zero, resulting in overdraft charges.

when we are talking about bitcoin then any method of storing it which involved a third party specially when you are not the only person controlling the private keys, is a terrible choice.
you should never trust any third party with your bitcoins. bitcoin is designed in a way that you do not need them. you can store your keys on your own in a very secure manner. and there are lots of options, from very cheap like a paper wallet to a more expensive option such as buying hardware wallets. and if you are holding a considerable amount of bitcoin (anything more than $1000 worth of it really) then you have to take storage seriously.

I made a wallet on Coinbase in 2016 and until now I have never experienced fraud and lost money on the wallet. So do not be afraid because the coinbase is safe and definitely secure your bitcoins in coinbase. I try it so I'm confident

On buying a whole bitcoin entirely depends on your financial position, if you can afford it then why not, otherwise there are smaller bits that can be bought at a lower price. so far coin base has been user friendly, no hacks no fraud, unless otherwise.

coinbase is the best wallet,I'm use coinbese wallet.i think this wallet is a very safe one.The coinbase wallet is a lot better for keeping Bitcoin safe.

hello,
In the coinbase, there is a wallet through which we can save our different types of money and coin. So, it is very important for us in the coinbase

I have been using Coinbase for a year and still there is no problem when using it, sometimes there are some maintain server issues but coinbase always show notifications to us. Also the fee of coinbase is very low so i use it to store my bitcoin. And I believe it is the safest wallet of many online wallet.

well…..I know on coibase…. It is best of exchanger…. Best secure site….coinbase is top reputable exchanger and i heard nobody complaint to coinbase about any issue so i think it is safety

Yes, great site indeed.

https://www.cnet.com/news/coinbase-duplicate-withdrawals-refund/

https://www.theverge.com/2018/2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-charges

https://www.reddit.com/r/CoinBase/

https://www.reddit.com/r/CoinBase/comments/7xs1aq/update_on_multiple_charges/

https://www.reddit.com/r/CoinBase/comments/7xrq4k/welp_officially_broke_charged_17x1000_on_my/

https://www.reddit.com/r/CoinBase/comments/7xsyf4/17x_charges_nope_i_just_got_hit_with_50_count/

This is so bad it's funny.

You can buy your bitcoin from Coinbase but why not from Gdax, at least you can escape the fee and I'm sure there are plenty of tutorials on youtube to learn how to trade there. Limit orders are no biggie after all.

Why keep the bitcoin there? They'll freeze your account or there's hacking and you'll never see your crypto again. Better safe than sorry.

God so many bad advices here.... If it didn't happen so far, it doesn't mean it won't happen....NOT YOUR PRIVATE KEYS, NOT YOUR BITCOIN.. Don't store bitcoins on Coinbase... Buy one of this badboys... Ledger  (https://www.ledgerwallet.com/products/ledger-nano-s)or Trezor (https://shop.trezor.io/?h=676f6f676c652e7273)... And you can later sleep peacefully...

I think need choose another way to buy bitcoin.
I don't recommended keep all amount on coinbase because they are owners of your wallet..

I don’t think it is possible to buy 1 BTC in coinbase nowadays due to the weekly limits. I have no problem buying BTC in coinbase but I don’t keep my BTC in coinbase for the long term.

It's good to use that wallet, actually I don't heard any complaint about coinbase yet. I currently use Coinbase well its good but I'm not 100% convinced it really safe because in this crypto world nothing can be sure if it's safe.

Coinbase is one of the biggest and most trusted bitcoin exchanges. It’s good for buying and selling bitcoins easily, with very low deposit and withdrawal fees. GDAX (shown below) is Coinbase’s official bitcoin exchange for more serious, high-volume trading.

I swore, I wasn't going to buy more XLM, because of the difficulties purchasing through Coinbase. The price is so ridiculously low, I can't resist. Coinbase acts like an old school bank, where you buy this new thing called crypto.

Sure, I'd love to go Fiat/XLM, but that constitutes me sending a wire transfer to Kraken. Why they can't do an ACH, I have no idea. I hate the speed, cost, and inefficiency of wire transfers, just as much as I hate the Coinbase process.

In this day and age, a Coinbase bank ACH transfer, shouldn't take five (5) business days with Coinbase. 3/12 - Purchase made in Coinbase 3/13 - My checking account debited full amount (You can't tell me my funds don't hit Coinbase by 3/14) 3/17 - Estimated date of crypto release to me in Coinbase

This is why I can't wait for a new way of doing business. This is what motivates me to invest all my free capital into this technology. The fact that I'm forced through this archaic process, to invest in this new technology, is pretty ironic. I felt the need to vent and also find it very funny, every time I buy the future, I'm pissed off by the present and soon to be past.
this is my opinion

I have really known about an extensive number of individuals that have had a decent measure of issues with Coinbase, the general notion is by all accounts negative towards Coinbase because of an extreme instance of messing about with client accounts and not allowing the wallet proprietors to sit unbothered constantly, numerous stories of solidified records and so forth. I would likely like to keep my riches out of Coinbase, in actuality I do as I have exchanged far from their stage and onto blockchain for my online wallets. I don't care for their business practices and I will stay outside of their impact for whatever length of time that I can, by and by.

Coinbase is safe and secured as per my usage. I use coinbase for past 6 months and haven't got any issues. You should have two factor authentication for the wallet and always be secured storing your password in hard copy rather than saving it in a digital format for safety.  Yes I agree that the transaction fees is high but now they have reduced a lot.

I also use Coinbase as my personal wallet, I feel safe as long as I use it nothing ever happens in Coinbase. Although a bit time consuming when opening the wallet because it must pass through several stages for the security of the owner's wallet.

Coinbase is one of the best exchange to buy bitcoin so there is no problem there to buy just one bitcoin the problem only faced while buying huge amount of bitcoins.But I don't sugfest you to keep that in their wallet because it is not safe just download electrum and move your bitcoins to there where your bitcoin will be safe because it is giving private key access.

Coinbase is a digital currency exchange headquartered in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in around 32 countries, and bitcoin transactions and storage in 190 countries worldwide.Besides that, Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency.

As long as no one knows your password and you're not victimized with phishing, the coinsbase is safe.

The basis for the development of digital signatures was a long-known technology called cryptography using a public key.

Coinbase, paper, breadwallet - nothing can be safe in our world...

To buy something in the store for bitcoins, you will need a little time to transfer Bitcoin into real money.

Bitcoin is money, and money has always been used for legitimate and illegal purposes. Cash, credit cards, and the modern banking system greatly outperform Bitcoin in terms of their use to finance crimes.

I think it is not wise to keep 1 btc on coinbase, it's too big amount for me, I guess it's not more profitable by only keeping there. but it's your choice. so far, no safety issue on coinbase, but you won't be in full control of your own coins.
I would prefer to hardware wallet in case of HODL. but, in case of trading, it's fine in the way it is.

In my experience have no difficulties withdrawing money but I did not buy entire 1 bitcoin because I don't have money for that, I just buy only piece of bitcoin.

If you guys are looking for a step-by-step guide on how to sign up to Coinbase and immediately make your first purchase of bitcoin, check this out: https://cryptoguidepro.com/coinbase-registration-beginner-walkthrough/ (https://cryptoguidepro.com/coinbase-registration-beginner-walkthrough/)

coinbase is one of the safest online wallets today. The bitcoin stored on it is very secure

I don't use Coinbase but I have in the past, and this is what I can tell you:   Coinbase pays much attention to your BTC transactions, and the specific addresses you send to.
If they think you are partaking in any form of gambling, they may shut down your account.
I wold, however, use them as a safe wallet as someone else mentioned.   They are not going to be hacked anytime soon.