Warning !!! about coinbase web wallet..

[Wandering Soul~]

I have stopped using their services since long ago cause there are too many risks and honestly it is also because they have a bad reputation . Thanks for the warning OP but these kind of post has been circling so it is not just you, many people here have been affected .

Better store your coins in a desktop wallet/Cold storage especially if its a large amount . Avoid online wallets as much as possible and remember that If you don't have the private key the wallet is not literally yours .

[avatar_kiyoshi]

This happens, coinbase In the first place is centralized exchange, they offer a wallet service, but why people not learning or research about what they doing, storing even just 1 cent on web wallet or exchange wallet is big NO, my cent still worth as fees.

[Devboy]

Thanks for your kind warning.I'm already knowing about this issue earlier.Still im pretty comfortable using this service without facing any difficulty.Yeah! there have some tos those are difference from other so its better before going to any service or leave any comment first make ensure your general knowledge.Just a request.

[chixka000]

I was just about to use coinbase because it was connected to our local exchanger and i can easily buy and sell ny btc, good thing thati saw this one. I was just afraid because just like coinbase the current exchanger site that I am currently using are also starting to be following KYC rules

[btccashacc]

I was just about to use coinbase because it was connected to our local exchanger and i can easily buy and sell ny btc, good thing thati saw this one. I was just afraid because just like coinbase the current exchanger site that I am currently using are also starting to be following KYC rules

You should read their TOS properly, avoid using their service for any gambling purpose if you won't your account locked by them.
I used coinbase when i was newbie i stopped using them when they locked my account i think it's due to the moment i sent bitcoin to primedice, if i'm not wrong.
There so many wallet better than coinbase however coinbase still the best place for those who want to convert their bitcoin to fiat, i am using exchanger that i can convert my bitcoin to cash asap yeah they have similar tos like coinbase.

[chixka000]

I was just about to use coinbase because it was connected to our local exchanger and i can easily buy and sell ny btc, good thing thati saw this one. I was just afraid because just like coinbase the current exchanger site that I am currently using are also starting to be following KYC rules

You should read their TOS properly, avoid using their service for any gambling purpose if you won't your account locked by them.
I used coinbase when i was newbie i stopped using them when they locked my account i think it's due to the moment i sent bitcoin to primedice, if i'm not wrong.
There so many wallet better than coinbase however coinbase still the best place for those who want to convert their bitcoin to fiat, i am using exchanger that i can convert my bitcoin to cash asap yeah they have similar tos like coinbase.

Yes, probably they really are like following the same rules of coinbase that is why I am very much careful about it, as i also verified my account that includes my identity as well. Although this pretty much scary of where would they use it

[FLoving]

If people have to use any bitcoin web wallet they why they do not come to blockchain which is the more reliable and more better web wallet. I am using that from a long ago and not found any issue with them. Why coinbase have a lot of issue and are bothering their members like paypal.

[LTU_btc]

If people have to use any bitcoin web wallet they why they do not come to blockchain which is the more reliable and more better web wallet. I am using that from a long ago and not found any issue with them. Why coinbase have a lot of issue and are bothering their members like paypal.

I think one of the reasons why many people using Coinbase is because this service offers free transactions. Many people sending or receiving only small transactions, this is why blokchain.info isn't best option for them. From my expperience of using Coinbase for more than two years I didn't faced any issues. But I don't use it as main my wallet. And if people decided to use Coinbase, they have to follow their ToS. If they don't break it, they won't get any problems.

[bitcoin talk]

Avoid online wallets as much as possible and remember that If you don't have the private key the wallet is not literally yours .

Even applies to blockchain.info?
Could blockchain.info block the account if they so chose?

[Nikensen]

I only use private wallet (bitcoin core) for any purpose and I feel safe when using this private wallet.
everytime the price increases highly then there will be a lot of temptation to their greed such hacking, technology issues,ddos ....
Generally, There are many reasons to blame on it when you use online wallet.

[erikalui]

If the sources of your coins is through a gambling site or any fraudulent practices ,your account will be suspended with no explanations.

Is it just Coinbase that does this?

Coinbase is known to the US Government as the most used bitcoin wallet and they keep receiving notices to submit the details of all the US customers and release their information. https://www.deepdotweb.com/2016/11/29/irs-demands-entire-coinbase-user-database-tax-purposes/

They had also exposed an exchange earlier and they keep tracking how users send and receive bitcoins.

Even other wallets such as Xapo ask users for their identity proof (I have sent the same earlier) and I've heard the same about blockchain too https://www.reddit.com/r/Bitcoin/comments/3nwt09/blockchain_has_the_worst_customer_support/

In short, all online wallets are not as trustworthy compared to hardware wallets.

[jseverson]

I'm planning to use coinbase wallet just sign up few days ago. Thank you for this post actually I've heard some negative reviews couple weeks ago about coinbase but ignored it so I think it's time for me to not use their wallet.

[terrate]

I was just about to use coinbase because it was connected to our local exchanger and i can easily buy and sell ny btc, good thing thati saw this one. I was just afraid because just like coinbase the current exchanger site that I am currently using are also starting to be following KYC rules

You should read their TOS properly, avoid using their service for any gambling purpose if you won't your account locked by them.
I used coinbase when i was newbie i stopped using them when they locked my account i think it's due to the moment i sent bitcoin to primedice, if i'm not wrong.
There so many wallet better than coinbase however coinbase still the best place for those who want to convert their bitcoin to fiat, i am using exchanger that i can convert my bitcoin to cash asap yeah they have similar tos like coinbase.

when they locked your a/c, did they give u any explanation?
then how to settle?

as bitcoin ald become gambling coin, what wallet they use?

i use coinbase easier so i need to confirmed with u again.

[terrate]

I think one of the reasons why many people using Coinbase is because this service offers free transactions. Many people sending or receiving only small transactions, this is why blokchain.info isn't best option for them. From my expperience of using Coinbase for more than two years I didn't faced any issues. But I don't use it as main my wallet. And if people decided to use Coinbase, they have to follow their ToS. If they don't break it, they won't get any problems.

I also not find any issue. the only issue is they not support my country only.
and also my transaction is small.

coinbase do transaction so simple .

Yes, probably they really are like following the same rules of coinbase that is why I am very much careful about it, as i also verified my account that includes my identity as well. Although this pretty much scary of where would they use it

the bad things i don't like is need to verify.

[FLoving]

If people have to use any bitcoin web wallet they why they do not come to blockchain which is the more reliable and more better web wallet. I am using that from a long ago and not found any issue with them. Why coinbase have a lot of issue and are bothering their members like paypal.

I think one of the reasons why many people using Coinbase is because this service offers free transactions. Many people sending or receiving only small transactions, this is why blokchain.info isn't best option for them. From my expperience of using Coinbase for more than two years I didn't faced any issues. But I don't use it as main my wallet. And if people decided to use Coinbase, they have to follow their ToS. If they don't break it, they won't get any problems.

For those people who face issues in coinbase and need a free transaction service then they have to adopt xapo for that purpose because xapo currently have much lesser problems to the community a few months ago there were much complaints against xapo but nowadays the complaints are much less.

[LTU_btc]

If people have to use any bitcoin web wallet they why they do not come to blockchain which is the more reliable and more better web wallet. I am using that from a long ago and not found any issue with them. Why coinbase have a lot of issue and are bothering their members like paypal.

I think one of the reasons why many people using Coinbase is because this service offers free transactions. Many people sending or receiving only small transactions, this is why blokchain.info isn't best option for them. From my expperience of using Coinbase for more than two years I didn't faced any issues. But I don't use it as main my wallet. And if people decided to use Coinbase, they have to follow their ToS. If they don't break it, they won't get any problems.

For those people who face issues in coinbase and need a free transaction service then they have to adopt xapo for that purpose because xapo currently have much lesser problems to the community a few months ago there were much complaints against xapo but nowadays the complaints are much less.

I don't agree. Xapo isn't better than Coinbase. Xapo have very slow support and sometimes they even not reply to support messages. And Xapo can lock account and ask user verification. And sometimes verification tooks week or even more.

[deadsilent]

Its seems many users hates coinbase now. Coinbase is a centralized exchange. They collect personal informations which they give to authority. Now government in US are now chasing their customers on US for evading tax. Coinbase is also known for stealing on customers funds and banning accounts for no reason. No doubt why many people hates coinbase. In addition of op's FUD. Here https://bitcointalk.org/index.php?topic=1751654.0. Coinbase is fucked.

[neochiny]

Never had any problems with coinbase, except when buying btc sometimes it says failed and takes money from the card little bit later. You could just always do this if you dont want to get tracked by them: coinbase -> wallet -> bitcoin mixer service -> wallet. Don't store your bitcoins there, withdraw asap to an address you own private key for.

The moment money arrives in the coinbase wallet,logically you give out your control to the exchange.Meaning,they can do whatever the fuck they want with the coins.If the sources of your coins is through a gambling site or any fraudulent practices ,your account will be suspended with no explanations. Why choose a complicated way to make your bitcoins secure when you can simply use a small desktop wallet?

Probably because of the "free" transaction fees.  Coinbase pays for that, which is the only way they could get anyone to use their wallet.

---
For those people who face issues in coinbase and need a free transaction service then they have to adopt xapo for that purpose because xapo currently have much lesser problems to the community a few months ago there were much complaints against xapo but nowadays the complaints are much less.

Coinbase and  Xapo? Far as I'm concerned, they're all the same. You use them because transaction is free and in exchange you hand over full control of your funds.

Like they say, you get what you pay for.

For anyone who wants control of their money, use Electrum or other desktop wallets and you'd get none of that TOS, Verification and whatnot. Of course, you pay for your own fees.
For anyone who doesn't like paying for their own transaction fees, then deal with all those strings attached.

As for me? I use both. Coinbase for when I'm skimping on fees and Electrum for the main wallet.

[bitcoin talk]

...use Electrum or other desktop wallets ...Of course, you pay for your own fees.
For anyone who doesn't like paying for their own transaction fees, then deal with all those strings attached.
...I use both. Coinbase for when I'm skimping on fees and Electrum for the main wallet.

What are the fees like when you use your own desktop wallet and
how long does it take to download the whole blockchain with setup of Electrum or desktop wallets?

[SimmonenY]

I'm wondering why do they still have so many clients if there is so much negative feedback?