Beware of CoinBase

[b-trading]

bitcoin needs this kind of service but you always have a choice - use or not use that service.

so i have a decision to never use that service. I only use it as an online wallet and if i want to sell my btc i will sell it on the other places

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

[odolvlobo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

[odolvlobo]

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

Coinbase is insured against employee theft and hacking in an amount that exceeds the average value of online bitcoin it holds at any given time. ...

Note that there are things that they are not insured against, such as bankruptcy.

[ranlo]

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

Coinbase is insured against employee theft and hacking in an amount that exceeds the average value of online bitcoin it holds at any given time. ...

Note that there are things that they are not insured against, such as bankruptcy.

The thing you quoted means:

1) Offline BTC (aka, the vault) is already protected
2) The insurance covers MORE than the hot wallet (ensuring it's protected)

Wasn't aware of the bankruptcy part, but there's really no way to give insurance against that anyways: they either have money or they don't.

[Electric Money]

I've got no qualms with Coinbase.  I sure as shit am not going to try and buy coins from an un reputable individual even if the SOB is in right in front of my face.  CB has done me just fine so far and I've transferred in and out quite a bit.  Must be something wrong with your "bona-fides" to get more privileges in your account.

[BayAreaCoins]

I've got no qualms with Coinbase.  I sure as shit am not going to try and buy coins from an un reputable individual even if the SOB is in right in front of my face.  CB has done me just fine so far and I've transferred in and out quite a bit.  Must be something wrong with your "bona-fides" to get more privileges in your account.

  Glad to see your mommy taught you not to talk to strangers.  Coinbase is going to work for you until it doesn't.  I strongly recommend not getting used to it.

I didn't expect for my account to be shut off for no reason and for the company to be so invasive.

Why was your account shut off ?

For no reason I guess??

I had multiple account problems for a handful of months.

First reason:  Had my credit card on multiple peoples accounts because I trusted them and was trying to help people into Bitcoin.

Second reason:  Unknown... Account just stopped working and I had to contact support a handful of time.  The "support chat tab" is one of those fake appearance of support bullshit things VC's use (similar to fucking Postmates... nothing more annoying than a fucking support that doesn't support!(

Third reason:  I made a bit of an uproar about them running a pump and dump off a positive news week of Bitcoin.  Which I wake up every morning hoping to see some criminal charges against multiple members of their company.

Final reason (kind of in line with the third):  I shifted a handful of Altcoin investments in order to go long on Bitcoin because of what a great it week it was having and then finally on Sunday night when I believed Coinbase was going to launch the "first regulated exchange".  Coinbase absolutely demanded to know where these funds came from in order to run through their site... I was fucking pissed because this Boiler Room company was demanding my private shit... So I told them to look it up on the Blockchain.  Obviously not the answer they were looking for!

I can still send Bitcoins through Coinbase, but I can not buy or sell.  When you get blocked your account will show a Buy or Sell pending and then removes it, but leaves the weekly/daily limits subtracted as if you bought it.

[Electric Money]

Must be doing shady stuff then.  They have to comply with all the U.S. Laws.  Perhaps you'd be better off at BTCe.

[Herbert2020]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

IMO, it is not important if it is insured or not, because you are trusting a third party with what you can secure on your own. and in any case that you lose your bitcoins you can not get it back if they decide they don't want to give you refund.

[BayAreaCoins]

Must be doing shady stuff then.  They have to comply with all the U.S. Laws.  Perhaps you'd be better off at BTCe.

Kill yourself.

Maybe you'd be better off not being a shill for some shitty Boiling Room/Snitch company.

I "must" have been guilty... blow me.    I comply with US law just fine.  I've never had any issues with any banks and blah blah blah.

We are all better off peer to peer.  Except for maybe you!

Edit:

I thought Coinbase buys from BTC-e anyways last I checked  .  Maybe not any more, but you couldn't really trust the company either way if they said they did or didn't.

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

IMO, it is not important if it is insured or not, because you are trusting a third party with what you can secure on your own. and in any case that you lose your bitcoins you can not get it back if they decide they don't want to give you refund.

That's like saying not to trust a fiat bank because you're trusting a third party with the insurance.

[fryarminer]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

[Gilboa]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

This really might be what they're turning into. Overall Coinbase hasn't been so bad. Yet I wouldn't be surprised to see them become the crypto version of PayPal in the near future.

[ranlo]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

This really might be what they're turning into. Overall Coinbase hasn't been so bad. Yet I wouldn't be surprised to see them become the crypto version of PayPal in the near future.

They're doing everything by the book, so of course they're taking the PayPal route. They never said they were going to make things anonymous. In fact, everyone should already know that's not possible if you want to run a legal business in the U.S. I'm not understanding how so many people are caught off guard. This has been going on for well over 100 years now. It's not magically going to change for one business.

[momore]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I'm using coinbase wallet, thanks for the warning.

[fryarminer]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I'm using coinbase wallet, thanks for the warning.

Dude - rule number one for owning bitcoin: keep your private keys.

[philipma1957]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

[QuestionAuthority]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

[halim]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

90% of it is bullshit and 10% is just plain lies  , Ok could you please tell me whats the type of your replies and threads here ? with  the 90% of it is bullshit   OR with the 10% is just plain lies ?.