Bitcoin Forum

Do you think Coinbase is the best wallet yet ? Any other that could top coinbase?

Mainly wallet's security is in two categories:  Knowhow vs Being a Target

Coinbase is constantly being looked at by hackers as a multi-million dollar opportunity with better security vs noobs with less security knowledge being less of a target.

I'd rather be in control of my own security when it comes down to it, but that comes at the responsibility of knowing at least mostly what I'm doing.. but if you're willing to take chances on letting the exchange hold your private keys, then I guess Coinbase seems reasonably safe (and a lot safer than people holding their own keys but aren't security conscious).

Even cold wallets can be a problem if people lose the seed phrases or break it..

At the end of the day whatever you choose will be right for you... because if it doesn't go well you'll be the one suffering the consequences.

You sure about that? Have you tried wallets that you can have total control because you held the the private keys? I haven't used Coinbase wallet though, but I think you don't hold the private keys so once the hackers get into Coinbase I'm pretty sure that all your crypto will be gone in as instant. I suggest you go here : https://bitcoin.org/en/choose-your-wallet, and see other options that might help you mitigate the risk of losing your coins in the future. Goodluck.

Nope (never was).

Yes, a lot of them. I prefer Electrum (SPV).

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Two things:

- Wait until they close/freeze your account (just google it) and then try to repeat that line.
- None of the online wallets are secure.

Coinbase is not even a bitcoin wallet! how can it be the "best"?

a bitcoin wallet has a clear definition, it is an application that you control the private keys and your coins with it. when you use Coinbase you have an account not a wallet. you don't have any private keys hence you have 0 control over your money. all the numbers you see in your so called Coinbase wallet are like a "promise" that Coinbase may or may not keep, you can even call it IOUs.

Exactly. Its like holding your coins on any other exchange. Bitcoin core dowloaded and installed on device plugged to internet only for transfers gives you full security. Any services are only giving you access to your bitcoins stored on their wallets.

Hummmm i never thing coinbase is best ,i use xapo in longtime he is best for me

I do not use coinbase so there is no way I can say  if it is the best wallet there is. I use blockchain wallet and I think it is the best wallet there is. The interface of the blockchain wallet is user friendly and it is very secure. Its mobile wallet is simply the best as you can send and receive bitcoins on the go.

You obviously need to do research. Here are are some stuff to start with:

https://www.coindesk.com/information/how-to-store-your-bitcoins/
https://cryptosec.info/guides/cryptocurrency-wallets-and-its-risks/
https://cryptosec.info/guides/crypto-investment-dos-and-donts/

Just stick to coinbas,  they are the best at the moment,  others are not that strong in terms of security wise,  so it's good to put money in where there will be a rest of mind,  or you can try coinomi app,  it's not an exchange though

Coinbase is a good wallet but you can't say best for everyone because Coinbase wallet is limited to some countries only. I don't think it offers services to the citizens of Indian country. In today's highly competitive world there are tons of wallets available which are offering good services at very low fees and charges. I like to use a wallet like Zebpay, Koinex, Buyucoin, and Wazirx. Apart from all these wallets, I like to use local bitcoins wallet where the security is quite high with escrow services and I use it during big government press release and events so that my coins don't get affected due to some negative news.

I think you should do some research between a Bitcoin Address, Bitcoin Wallet, and a Bitcoin Exchange.

Coinbase is a Bitcoin Exchange which gives you your own wallet which has your own address. Coinbase is a regulated exchange and been in business for years.

However if you want max security, then like the saying goes "Be your own bank".

Get a hardware wallet or use software such as Armoury or Electrum using cold storage and you can be sure your funds are safe forever.

With Coinbase, they can get hacked, shutdown, or your account can get hacked and your coins will be withdrawn and you will lose them.

Opti gonna open around $6 or $7 on C2CX

If you mean an online wallet, then you are absolutely right. But if you compare Coinbase with a cold purse, of course, the cold wallet wins in terms of security. Never store your bitcoins in an online wallet, if you do not want to be stolen.

People still prefer Coinbase over other wallets on the internet. I am also a user of Coinbase wallets. Because Coinbase gives you a sense of security

Blockchain. Into is for me..  The best one ofcorse is bitcoincore

No, it's not the best wallet for me. I don't suggest you use an online wallet, online wallets always have a chance of danger. I would suggest everyone use a hardware wallet because your money is really in your hands/control and it will be safe. Among the hardware wallets, I prefer to electrum.

At least I think so the UI are sleek and safest so far no bad reputation at least for now. For electrum I think it has various uses can handle many transactions at once electrum might be second to coinbase even though it does not have a great UI but it's decent for used to trading users.

I don't know if we should call coinbase is a wallet, because they already write it in their blog Coinbase is not a wallet (https://blog.coinbase.com/coinbase-is-not-a-wallet-b5b9293ca0e7). Its better to call it "Exchange" instead of "Wallet". Try to read that article.
You should not store a coin for long time in coinbase, except you want to convert it to fiat or use it for daily spending (or something like that).
So, coinbase is not the best wallet, at least for me.

If you want to used their service and comfortable with that, I don't see any wrong using Coinbase. But again, like others mentioned here, Coinbase is an exchange wallet meaning you are entrusting your coins to them. So in case that something wrong happened, there are chances that you will be fu**** up. Coinbase is a big company and running for several years now but it doesn't mean we need to trust our coins to them at 100%.

Again if you are comfortable with their service other than other exchange then:

For holding purposes:
-Buy Bitcoin at Coinbase
-Transfer it immediately in wallet where you control your own keys. Desktop wallet will do.

For trading purposes:
-Buy Bitcoin at Coinbase
-Transfer it to exchange
or
-Learn the deposit method of a certain trading exchange then do the deposit here to save fees.

I do not know. I use only electrum and I'm not complaining. Very functional and understandable. I advise everyone. But in general, ideally, to purchase a hardware purse.