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Author Topic: Is coinbase really a bad website to make a wallet on?  (Read 2915 times)
Kazuya121
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January 16, 2017, 04:43:19 PM
 #1

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
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January 16, 2017, 04:52:24 PM
 #2

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?

I have a sincere advance that  if you have many bitcoins, Do not use online wallet to store it. Please use private wallet such as bitcoin core wallet for cold storage. it's safer than online wallet.

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January 16, 2017, 04:59:24 PM
 #3

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
It's not that bad but since t's not a wallet but an exchange wallet, they are more prone to issues like the current they are facing now. Imo people should avoid using an exchange walle in storung in their bitcoins an just use it when they are buyjng or selling coins. If you are hesitant to use coinbase, choose blockchain.info instead or better yet use one where you fully control your privatekeys like in desktop wallet, electrum, and for mobile , mycelium.

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January 16, 2017, 05:09:32 PM
 #4

I have no real experience with coinbase but people say the IRS gets full access and when you make gains they want a significant amount of it.
If this is true then it is weird because Bitcoin was created to avoid this.
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January 16, 2017, 05:28:09 PM
 #5

If you do not have sole and complete control over the private keys, you do not have any bitcoin. Having the private key versus having a web wallet account is like having physical gold versus having worthless gold certificates backed by a shady company that can collapse at any moment. We humans have the ability to learn from past mistakes, there was once an exchange called mtgox, that collapsed after about 700kBTC were stolen by hackers. Many people around the world thought they had bitcoin, but they only had mtgox credit, when mtgox collapsed, poof!, it was gone.
The lesson:
Keep your bitcoins in paper wallets, desktop wallets, mobile wallets, hardware wallets or brain wallets (tricky to use safely, not advised for newbies), not in web wallets!

If you don't have sole and complete control over the private keys, you don't have any bitcoin!  Signature campaigns are OK, zero tolorance for spam!
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January 16, 2017, 06:10:35 PM
 #6

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
Installing a wallet on your phone or computer is the best option. It is important to remember that you don't have a wallet at Coinbase, you have an account.  I recommend Airbitz, Mycelium, or Electrum. If you really must have an online wallet, use blockchain.info. At least you still maintain control of your bitcoins.

Coinbase is certainly not known for stealing bitcoins.

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January 16, 2017, 06:31:56 PM
 #7


coinbase still is an online wallet which isn't safe the fact that anyone with the intention to hack, can probably get into their site and withdraw your coins leaving you nothing. this is somehow like what the rest of the people here in the forum advises, don't trust and exchange for the are like online wallets.

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January 16, 2017, 06:47:26 PM
 #8

Yes, it's safe. Now, if you have to store thousands of dollars I'd invest in some hardware and create your own wallets for offline storage.

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January 16, 2017, 08:06:56 PM
 #9


Installing a wallet on phone is not recommanded either

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January 16, 2017, 09:17:42 PM
 #10

I created my first wallet on Coinbase when I started, but I don't recommend that you hold a huge amount of bitcoin on it. The better is to create one on your smartphone because you have access to it and you control the bitcoin. But in the case of Coinbase, you don't have control of what the owner will do with it.



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January 16, 2017, 09:23:44 PM
 #11

Because of halving several times like pending stealing my bitcoin and heard about the credit card issue i do not trust them anymore..
Much better to in trusted wallet bitcoin core or bitcoin-qt but it needs to download the who blockchain.. if you want the lite version try electrum and you can use it lite weight version of bitcoin core.. and i am using it never experience any issue.. and you can backup your private keys and wallet.dat once your wallet is gone and you have private key you can install it in other wallet.. and get your bitcoin..     
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January 16, 2017, 09:37:39 PM
 #12

Coinbase wallet is safe to use if you follow their rules and never break it. But Coinbase wallet don't give your private keys, and it's not best idea to use it as main wallet. I recommend to use it for daily needs and don't keep big ballance on Coinbase.

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January 16, 2017, 10:13:57 PM
 #13

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?

I have a sincere advance that  if you have many bitcoins, Do not use online wallet to store it. Please use private wallet such as bitcoin core wallet for cold storage. it's safer than online wallet.
I know that some websites may have multiple security holes, and this is certainly a problem. But I would like to know if there are online wallets with tolerable risk levels. I see that many users use blockchain.info without major problems. For this online wallet specifically, are there also high risks?

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January 16, 2017, 10:26:57 PM
 #14

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?

if you say discuss about online wallet
you must choose online wallet service is support private key

but if you say online wallet support use credit card is nothing, is online wallet support funding use credit card

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January 17, 2017, 04:31:38 AM
 #15

I created my first wallet on Coinbase when I started, but I don't recommend that you hold a huge amount of bitcoin on it. The better is to create one on your smartphone because you have access to it and you control the bitcoin. But in the case of Coinbase, you don't have control of what the owner will do with it.
I did the same when I came to use bitcoin. Just needed a wallet quick and no fees for doing transactions for sending so it was right at the time.
But now you hear so many people having problems with it and these are from users of this service who have used them for a year or more.
So it is ill advised to use them for any long term or even if you have bitcoins coming from multiple different sources cause there is a chance they will find a way to lock your account for not knowing if the sends are to their code of conduct.

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January 17, 2017, 04:45:18 AM
 #16

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
Well coinbase is not bad, there are many people who use it especially the peoples from USA, if coinbase is bad this service will be closed due to there are no costumers that use it.
If you are looking for wallets of bitcoins offline wallets is best choice for you because you have control on your bitcoins and coinbase is more good be considered as markets than wallets of bitcoins.
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January 17, 2017, 04:47:14 AM
 #17

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
Online wallet is never a good option. Always use a desktop wallet where you have full control of your coins and keys. Try Bitcoin core wallet or you can try electrum wallet. Both are good and way safer options than web wallets.


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January 17, 2017, 10:40:32 AM
 #18

I created my first wallet on Coinbase when I started, but I don't recommend that you hold a huge amount of bitcoin on it. The better is to create one on your smartphone because you have access to it and you control the bitcoin. But in the case of Coinbase, you don't have control of what the owner will do with it.
Same like to you man.At beggining in bitcoin industry I was created my first wallet on Coinbase.I have also well much known that they are stealing bitcoins,they freezing your account if you participate in gambling.But I can't remember have I faced this issue?In my opinion,Coinbase should only be used to buy or sell bitcoin, and not to store funds.However,I like to prefer you use blockchain/mycelium instead of coinbase.As long as Online wallet is not safe there electrum could be best choice.

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January 17, 2017, 02:18:29 PM
 #19

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
It's not that bad but since t's not a wallet but an exchange wallet, they are more prone to issues like the current they are facing now. Imo people should avoid using an exchange walle in storung in their bitcoins an just use it when they are buyjng or selling coins. If you are hesitant to use coinbase, choose blockchain.info instead or better yet use one where you fully control your privatekeys like in desktop wallet, electrum, and for mobile , mycelium.
Im really glad already that blockchain already have the feature on getting your private keys which is not available in the past but now it is already implemented which is really great because it give me more assurance and security in my bitcoin.Coinbase is just fine for me since I also used it in the past but I do also heard about some issues I don't know if its true or not that's why I don't store too big amounts of bitcoin on an exchange or web wallet.

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Hazir
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January 17, 2017, 11:42:42 PM
 #20

Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
There is a confusion in regard of Coinbase's online wallet. They are not stealing coins from anybody, they are fully licensed big cryptocurrency company.
The problem with their service is that because they are so "legally stiff" your account is subject to spying and invigilation.
They basically monitor thousands of known bitcoin addresses and check if you are not using any of gambling, dark market's or other BTC addresses suspected of taking part in illegal activities.


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