Is coinbase account safe for transaction?

[juemonju]

I use coinbase as a personal wallet.It cost nothing for transactions. Is it safe? someone told me to use blockchain instead of coinbase.but it cut a fee for every transaction.

[jtipt]

I use coinbase as a personal wallet.It cost nothing for transactions. Is it safe? someone told me to use blockchain instead of coinbase.but it cut a fee for every transaction.

It's not really the safest wallet neither is blockchain. Since coinbase is a exchange and all the bitcoin is stored on their servers any problem or hack of the servers you will lose your bitcoin there have been some previous incidents with coinbase and I wouldn't recommend it. For small transactions like <0.001 it's fine using coinbase but wouldn't recommend it to store high amounts. Best is using a desktop wallet for everyday use,  I usually use Electrum it's easy to understand and has good security.

[stark101]

I am new to bitcoin and have been looking around for a good wallet  site where i can also trade bitcoin. I am not easily convinced about the online currency. Is coinbase is really safe enough for me to hook my credit card onto for instant transaction. For all we know, i have the power to search the the information about it, I did and found many answers. But if your a user of coinbase, is it really good? Is it safe? What's your experience about coinbase?

[Pursuer]

if your privacy means nothing to you then use Coinbase and don't complain if later one in the future IRS came to your home knocking at your door asking why didn't you pay your taxes when you were using bitcoin and here are your records from your Coinbase account and here is big ass fine we are demanding because you evaded paying taxes.

[tiggytomb]

Coinbase is decent enough, one of the larger exchanges and it requires some id verification if you are using fiat to deposit and withdraw.  If you are a gambler you would be best off using another wallet as they tend to ban account that receive or send funds to gambling sites.

[juemonju]

I am from such a country where online wallet not regulated.Coinbase is free of cost and confirm the transaction within a minute.I am happy to use it. If any  other problem have let me know.

[eternalgloom]

I am from such a country where online wallet not regulated.Coinbase is free of cost and confirm the transaction within a minute.I am happy to use it. If any  other problem have let me know.

It could get regulated in the future, doesn't matter which country you are from. They will have everything on record if you continue to use Coinbase.
Plus, I've read multiple stories of them freezing or terminating accounts of people, so I personally wouldn't trust them.

The fees you pay when using other wallets are just part of Bitcoin and it's not that much, I'd rather pay them than trusting Coinbase (or any other online wallet) with my coins.

[coin-investor]

There are hundreds of thousands of users,they should make their site tight and they had a good reputation so I think it's safe to use their wallet,but if you are dealing with huge amount electrum is very much preferable,it's one of the safest wallet ..

[xuan87]

I think it is safe, coinbase is the first wallet i had, and up until now i got no issue of using it, so for me it is a pretty safe wallet and it got a good security, there were few times that the user claims coinbase hold their withdrawal and recently there was a rumour said that coinbase is going to be inspected by IRS, so coinbase reputation is a bit tainted due to the rumour but i still believe in coinbase

[juemonju]

I am from such a country where online wallet not regulated.Coinbase is free of cost and confirm the transaction within a minute.I am happy to use it. If any  other problem have let me know.

It could get regulated in the future, doesn't matter which country you are from. They will have everything on record if you continue to use Coinbase.
Plus, I've read multiple stories of them freezing or terminating accounts of people, so I personally wouldn't trust them.

The fees you pay when using other wallets are just part of Bitcoin and it's not that much, I'd rather pay them than trusting Coinbase (or any other online wallet) with my coins.

any suggestion which site i can be used for it?

[juemonju]

I think it is safe, coinbase is the first wallet i had, and up until now i got no issue of using it, so for me it is a pretty safe wallet and it got a good security, there were few times that the user claims coinbase hold their withdrawal and recently there was a rumour said that coinbase is going to be inspected by IRS, so coinbase reputation is a bit tainted due to the rumour but i still believe in coinbase

me too bro.

[ranochigo]

I am from such a country where online wallet not regulated.Coinbase is free of cost and confirm the transaction within a minute.I am happy to use it. If any  other problem have let me know.

It could get regulated in the future, doesn't matter which country you are from. They will have everything on record if you continue to use Coinbase.
Plus, I've read multiple stories of them freezing or terminating accounts of people, so I personally wouldn't trust them.

The fees you pay when using other wallets are just part of Bitcoin and it's not that much, I'd rather pay them than trusting Coinbase (or any other online wallet) with my coins.

any suggestion which site i can be used for it?

Anything that is not gambling or anything illegal. Even so, they reserve the rights to edit their terms of service and can suspend your account even if nothing is wrong with it.
Blockchain.info is no better than Coinbase and is actually a lot worse.

Coinbase does have a significantly better track record as compared to Blockchain.info and that is the reason why you should ABSOLUTELY avoid using Blockchain.info AT ALL. They are not competent enough to test their software for any bugs before releasing it to the public.

That being said, Coinbase controls your private keys and thus controls and records EVERY of your transaction. Your privacy is now compromised. Sure, they are trustable. But the fact that they can track all your transactions defeats the purpose of Bitcoin. Try using a desktop wallet like Electrum. I am sure they can provide equal or even more security as compared to coinbase.

Do you care about having your account blocked, privacy compromised or paying a small fee (eg. 0.0004BTC) for every transactions?

[Wandering Soul~]

All online wallets are not very recommendable as they don't give you the private keys . If you don't have the private keys, it means the wallet is not yours as you have no full control of it . They can freeze/terminate your account , The hackers might hack their site or even run away with your money .

The miners fee is a very low fee that you won't even notice . Its better to pay that little amount just to be sure that your money is safe right?

[BitcoinHodler]

coinbase has been around for quite some time now that makes it trusted enough for small amounts and if you are really so desperate about a couple of cents of transaction fees then yeah go for it.

but i don't really like it because it lacks security and doesn't matter how much they say it is safe, they will never guarantee you if you are hacked or their system is completely hacked.

[Sir Alpha_goy]

If you are interested in meticulously accounting then yes.

https://bitcointalk.org/index.php?topic=1590009.0

[QuestionAuthority]

coinbase has been around for quite some time now that makes it trusted enough for small amounts and if you are really so desperate about a couple of cents of transaction fees then yeah go for it.

but i don't really like it because it lacks security and doesn't matter how much they say it is safe, they will never guarantee you if you are hacked or their system is completely hacked.

Your right about any online wallet service. I would add that hacks are not the real problem. Employee theft is responsible for most of the exchange/wallet service losses. The lure of easy money has a very strong appeal.

Mainstreaming Bitcoin use is a trap. Wallet services are necessary for average users to make Bitcoin easy to use. Wallet services are inherently dangerous because they have no government fraud protection, insurance and are subject to employee "hacking". So what do we tell people? Online wallets are ok because we want more users or online wallets are awful because they're risky?

[davis196]

I use coinbase as a personal wallet.It cost nothing for transactions. Is it safe? someone told me to use blockchain instead of coinbase.but it cut a fee for every transaction.

It`s safe,unless you use it for gambling or some illegal activities.

Coinbase sometimes blocks accounts used for gambling purposes.

[bitbunnny]

It's online wallet so it's not the safest in the world but for smaller amounts and smaller transactions it's just fine. You can't avoid the risk completely, it's always there. They are present a long time on the Bitcoin scene and so far there haven't been any mayor issues. Good advice is to have another wallet, not online, as a back up.

[equator]

I use coinbase as a personal wallet.It cost nothing for transactions. Is it safe? someone told me to use blockchain instead of coinbase.but it cut a fee for every transaction.

using coinbase is not problem until you dont use it for gambling as they dont allow gamblers to use coinbase account and if found they will ban the account. But it is recommended to use desktop wallet like electrum which will give you full security and hold of address with private key and you dont have any risk of using to gambling or any other place.

[bL4nkcode]

As what others said already, coinbase is not safe if you are storing huge amount of funds there, its an exchanger site and also have wallet address service that don't have any fee in any transaction you've made and that was a very questionable one there, a business will run and become succesfull only if there users are paying there fee to them and this company is different from them. And coinbase have so many incidents that many complaning because of locking of there accounts there with a huge amount in it. So if I were you dude, blockchain is much better than coinbase if you are referring to web wallets only but much better if you're using desktop wallets to secure your funds.