Warning !!! about coinbase web wallet..

[reflector]

...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?

Electrum wallet is available for multiple platforms and size of the wallet is also lesser than 50 MB only. Please choose the preferred platform as you desired https://electrum.org/#download
Coinbase fees has been increased nearly to 0.001 for the transaction, this is ridiculous to for a each transaction but transaction speed more faster than earlier.

[BitMaxz]

...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?

Electrum wallet is available for multiple platforms and size of the wallet is also lesser than 50 MB only. Please choose the preferred platform as you desired https://electrum.org/#download
Coinbase fees has been increased nearly to 0.001 for the transaction, this is ridiculous to for a each transaction but transaction speed more faster than earlier.

Much better to use electrum since you have a fully control about the fee unlike in coinbase.. i stop using them because of the fee and delays responce if i experience of any issue about coinbase wallet..
The good thing in electrum you can backup your bitcoin address private key that you can install it in other wallet like multibit HD or other wallet..
Never had any problem about electrum and i can set my own fee in option settings..
just relay what should the good fee to use here https://bitcoinfees.21.co/

[carlisle1]

well, good thing that I am using a different wallet service provider which is locally operated here in my country, honestly I have made an account in coinbase 1 year ago but I haven't tried to store any amount on it despite the negative comments and feedback about their service I am still curious why coinbase seemed to be common as it is used as a processor for bitcoin payment method on a game that I was playing before by the way, thank you for giving this warning .

[wantjokull]

You guys are scaring me right now. I'm user of coinbase and my 50% funds are on the coinbase only. I will have to move all the balance right away on safer place. This is just insane that wallets are going down too. Where is the concept of bitcoin where we use to say bitcoin is safest treasure in the world. Anyway these things are made by human and they can crack it at any time. I moving my funds right away. Thanks for the info, please update more on this if anyone gets clearer idea what's going on with it.

[Lancusters]

It is good that there is bitcointalk. Today I just registered there, but luckily I haven't put a single cent. Now I will not. If so many negative reviews on this forum then it is a sure sign that it is possible to lose all of my coins.

[savioroshan]

I was using coinbase wallet till last week. I hadn't  experienced anything like missing funds from my wallet  . For me its a good wallet. So sad to hear many lost funds from their coinbase wallet. But I transferred all my coins from coinbase to unocoin wallet. Unocoin wallet is actually a Indian online wallet. I transferred my coins from there because nowadays coinbase is charging hugh transaction fees.   

[mattermaster]

I do not think it a scam but what actually coinbase service is worth?
If a new account is created, they take two much time to verify the documents you provide for verification!
You can't get any replies for you queries!
If you buy bitcoins with credit card, you will have to wait even weeks to see it in your wallet!
These are some realistic truths about coinbase i have personally experienced.

[n691309]

It is good that there is bitcointalk. Today I just registered there, but luckily I haven't put a single cent. Now I will not. If so many negative reviews on this forum then it is a sure sign that it is possible to lose all of my coins.

Most of people that use bitcoin and that make bitcoin transaction with a low amount of bitcoin want to find a wallet that could cover the transaction fees, and so coinbase and xapo were but now they aren't anymore because the transcation fees has been increased very much. Coinbase is a good exchange buying selling bitcoin but as we know they require to be verified and the fees are not low.

[neochiny]

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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?

For Electrum, I've found that a standard transaction (1 input, 1 output) is usually just at 190-200bytes. Just multiply that with however much you want to pay per byte.
I haven't used coinbase personally for months now but from what I've been seeing from other users, their fees are higher.  

You don't have to download the whole blockchain with Electrum. It's less than 50mb. Setup is easy, just follow instructions or you could take a look at this 'tutorial'.http://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/

[n691309]

...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?

This is the lowest fee at the moment that we can set in Electrum, if you are not in hurry when transfering the bitcoin then this is a good option to save a little bit in fees. But 0.004btc/kB is standard fee for transaction to be included in the next 5 blocks otherwise with a fee of 0.007btc/kB it shows that tthe transaction can be included in the next 1st block.

[nethan1btc]

This topic is not really a reliable sources of idea to believe as grounds of any warnings, because if there is such circumstances that happens everything can be fiex by site admins; speculating for any warnings about coinsbase is not a right actions to do. We should not say negative things on coinbase because it will not propagate good results specially when you have a stored btc with their site, better stay calm and raise any concerns with the site support.

[apoorvlathey]

Coinbase is the worst that I have used. The user is not in control of their private keys, that dismisses the basic principle of bitcoin - decentralization !
Months ago my coinbase wallet was also closed by them without any proper reason, some say that receiving funds from gambling sites ceases your web wallet. But I got payment from faucets and its system stilled banned the wallet.
Although, I was able to withdraw all my funds, and now I use Electrum.

[richardsNY]

Coinbase is the worst that I have used. The user is not in control of their private keys, that dismisses the basic principle of bitcoin - decentralization !

Even if the online wallet service you are using does provide you with your private keys, you are still subject to centralization since you're not the sole owner of 'your' private keys. In order to avoid any form of centralization, you must avoid making use of online wallet services, exchanges, certain light weight wallet clients, etc. Only then you'll be able to fully benefit from Bitcoin's decentralization aspect.

[frowsiter]

You can trust it a lot.  Using it since long time. I have never gotten any problems with coinbase. They always have good price in the market. They pay me what I deserve. I can understand the fees are increased now but it is fault of blockchain as whole an not coinbase. I support coinbase a lot. Wish to get paid with it only.

[lordfirefox]

Wow Coinbase's rivals will say anything. Even outright lie. LOL. 

[Termin4tor]

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

They've got a ton of negative feedback but their brand name is still not tarnished at all. Not all people face the problems which others face with them. So a lot of happy clients still use them. Also, I guess the main reason why they attract and have so much clients is their SEO on search engines. Just type "buy bitcoin" on google and you can see them on the second result itself. Same goes with the "sell bitcoin", you can see them being the third result as well.

[virasog]

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?

We don't get scammed.  The main thing is to not listen to the people here.  They take the time and effort to garner some rank so that that they can take advantage of it and hit people hard.  The next thing is to make sure that you are acting on your own choices and not those that are pushed on you by rumors and innuendo.  Also, at the same time do not let another person push you into something, even if they do not seem to be trying to.

[ubercool]

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

They've got a ton of negative feedback but their brand name is still not tarnished at all. Not all people face the problems which others face with them. So a lot of happy clients still use them. Also, I guess the main reason why they attract and have so much clients is their SEO on search engines. Just type "buy bitcoin" on google and you can see them on the second result itself. Same goes with the "sell bitcoin", you can see them being the third result as well.

I too end up at Coinbase for the first time through Google only, Although I have shifted to better wallets and exchanges, I still use the coinbase account. I never experienced any problem with it and transactions are quite fast in getting confirmations. So will be using coinbase in the future too.

[nethan1btc]

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

They've got a ton of negative feedback but their brand name is still not tarnished at all. Not all people face the problems which others face with them. So a lot of happy clients still use them. Also, I guess the main reason why they attract and have so much clients is their SEO on search engines. Just type "buy bitcoin" on google and you can see them on the second result itself. Same goes with the "sell bitcoin", you can see them being the third result as well.

I too end up at Coinbase for the first time through Google only, Although I have shifted to better wallets and exchanges, I still use the coinbase account. I never experienced any problem with it and transactions are quite fast in getting confirmations. So will be using coinbase in the future too.

Also for me mate, coinbase has not done any delays on my transactions and in fact their service of btc sending has lower rates. The transaction processing is very fast and I used it on the payment for transfer btc to my sister who had her another wallet too. Even though there's a lot of negative feed back from speculators, but it doesn't change my loyalty to this site due to their good partnership to me specially when I got to receive my payment I had from the present campaign I have right now; still coin base is the best online wallet for me.

[alani123]

Coinbase's web wallet really is one of the worst. Now that they've stopped providing specific services to wallet users it does nothing over any other web wallet other than being supposedely regulated (which isn't nessecerily good for most).