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Author Topic: Why do so many people hate Coinbase?  (Read 3938 times)
squatz1
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January 24, 2017, 03:53:36 PM
 #1

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

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January 24, 2017, 03:55:52 PM
 #2

Because they're a huge business with poor customer service from what I understand. Their fees are pretty high at 3.75% when I checked them last and they store your funds very insecurely on a web wallet. What's to like really?
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January 24, 2017, 03:56:51 PM
 #3

Because they're a huge business with poor customer service from what I understand. Their fees are pretty high at 3.75% when I checked them last and they store your funds very insecurely on a web wallet. What's to like really?


Well, I'm speaking more of the buying and selling on coinbase / Gdax, I personally wouldn't store my coins on coinbase but would use them to buy and sell.

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January 24, 2017, 04:03:16 PM
 #4

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.
Because they find some reason to hate it, some said that coinbase has high transaction cost and stilling bitcoin from their wallet, but, for me until now I am using coinbase, I have been using it for 2 years and never experience it and I am comfort working with it although it is not really a perfect still I am using it as long as it is not stilling all my bitcoin.

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January 24, 2017, 04:08:58 PM
 #5

maybe because people have bad experience with coinbase so they hate it and they do not want to make transaction with coinbase. but for me, i am not yet make any of transaction with coinbase so maybe i will stay away too because i think i am prefer with the other sites that have been i used before.

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January 24, 2017, 04:09:36 PM
 #6

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

because they are mostly known as a wallet. and when we are talking about bitcoin a web wallet specially one that is like coinbase is mostly against what bitcoin is supposed to be.
coinbase is like a bank mostly rather than a bitcoin wallet or even an exchange.
you provide them with all your documents and you still have no access to your private keys so you don't control bitcoin.

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January 24, 2017, 04:17:26 PM
 #7

There are always some complaints with any companies, bitcoin related or not. I admit their customers support needs to come back to what it used to be. It's clear support is not one their priority. Even with their forum

It happened i had a problem with sending bitcoin to someone with message "invalid adress". I have never understand why, i even though the guy giving me his adress was trying to waste my time. It's happened 3-4 times, i contacted them once, i don't remember their reply but it was not clear either.

I am sure their focus will change with the years and won't be #bitcoin only (like as exemple when they added Etherum)

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January 24, 2017, 04:19:27 PM
 #8

Not only the fact they charge a high rate to buy bitcoin from them their wallet sucks. They close your account with funds in them, it doesn't matter to them, if they deem you are sending "your bitcoins" to sites that they deem are not up to code to them. According to their TOS if you are violating any of their rules they will close your account and freeze your funds without notice to you until it is too late.
So you still have to ask why there is so much hate for a capitalist pig type of mentally in the bitcoin world?
They have grown to big  they think they have the right to dictate laws to impose onto the bitcoin user who uses them as an option, and there are so many other options outthere who will not do this to you and your bitcoins.
Ever heard of coinjar? They are way better than this con company is.

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January 24, 2017, 04:58:37 PM
 #9

This is because they are a big company (that could be just enough), that use its power to influence the situation in their favour. And I do not even mention how easily they can freeze your account, with for you no possibility at all to contest it, since juridiction is already hard enough to apply to some companies in your own country, so imagine to a foreign company trading valueless numbers for your juridiction !


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January 24, 2017, 05:05:03 PM
 #10

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

because they are mostly known as a wallet. and when we are talking about bitcoin a web wallet specially one that is like coinbase is mostly against what bitcoin is supposed to be.
coinbase is like a bank mostly rather than a bitcoin wallet or even an exchange.
you provide them with all your documents and you still have no access to your private keys so you don't control bitcoin.
Not only the fact they charge a high rate to buy bitcoin from them their wallet sucks. They close your account with funds in them, it doesn't matter to them, if they deem you are sending "your bitcoins" to sites that they deem are not up to code to them. According to their TOS if you are violating any of their rules they will close your account and freeze your funds without notice to you until it is too late.
So you still have to ask why there is so much hate for a capitalist pig type of mentally in the bitcoin world?
They have grown to big  they think they have the right to dictate laws to impose onto the bitcoin user who uses them as an option, and there are so many other options outthere who will not do this to you and your bitcoins.
Ever heard of coinjar? They are way better than this con company is.

It's new information for me, thanks for share, save it.
I never tried other wallet or exchanges platform as blockchain has fulfilled what I need.
The high pay rate maybe one reason why, but the terms of service that could freeze your funds is the most annoying to deal with if we want the freedom of bitcoin transaction. Moreover about being anonymous which users have to provide all the documents to identify yourself.
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January 24, 2017, 05:09:30 PM
 #11

Because they're a huge business with poor customer service from what I understand. Their fees are pretty high at 3.75% when I checked them last and they store your funds very insecurely on a web wallet. What's to like really?

What 3.75% fee?

How is their web wallet different from every other online service's web wallet? (Besides the notable fact that they've never been hacked.)

What poor customer service?

What's not to like? They make it easy to buy bitcoin using a credit card or bank account with only a 1% fee.

Don't get me wrong, they aren't perfect. I got hassled with a spurious lockdown on my account last year and they never did fix their mislabeling of my personal checking account as a "business" account (something for which there is no sane reason for them to have done.) But they were at least responsive when I learned my account was locked and I don't see justification for the hostility some people heap on them.

I think people just pour hate on Coinbase because it is trying to comply with the necessary financial laws/regulations that some people don't like. If you're a criminal and Coinbase requires your identifying info to open an account, I guess you're not going to like that very much.

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January 24, 2017, 05:22:28 PM
 #12

since they are generally known as a wallet. what's more, when we are discussing bitcoin a web wallet uniquely one that resembles coinbase is generally against what bitcoin should be.

coinbase resembles a bank for the most part as opposed to a bitcoin wallet or even a trade.

you furnish them with every one of your reports despite everything you have no entrance to your private keys so you don't control bitcoin.

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January 24, 2017, 05:38:41 PM
 #13

as I understand it, Coinbase has very strict with own Terms of service. One of the rule does not allow transactions with gambling sites. Many of people who's hate Coinbase broke this rules, and get suspended account
And add to a very slow and poor communication with customers, you get dissatisfied people

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bitbunnny
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January 24, 2017, 05:40:09 PM
 #14

People don't hate Coinbase they are just not satisfied with the service they give. Lately many users have issues with Coinbase, their customer service and users policy, locked account, some of users even saying that it's a scam. I think they should be more customer oriented and then many issues could be more easily solved.

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January 24, 2017, 05:51:53 PM
 #15

Because, they didn't allowed me to take full control over my money!
Dammitt
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January 24, 2017, 05:53:46 PM
 #16

I have not had a complaint with Coinbase so far, but sometimes I have not had some problems. I just used it as my wallet. In general, Coinbase service conditions may be a little tight because many people hate it. What I came across in customer service is not the ability to reach very slowly, the questions are left in the air.



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January 24, 2017, 05:59:44 PM
 #17

Take a look at this page and lol http://bitcoincharts.com/markets/coinbaseUSD.html

Now look at this one http://bitcoincharts.com/markets/btcnCNY.html

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January 24, 2017, 06:29:31 PM
 #18

I believe some people not all people hate coinbase because it as strict verification process before you can buy or sell bitcoin,a lot of scammers cannot use there service because they cannot use there site due to there criminal nature and some  people don't like revealing their identity inline
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January 24, 2017, 06:41:07 PM
 #19

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

You have just seen some recent problems of a user here with Coinbase but I think as a whole, it's not that much.

Here are some things I saw:

- People things that they will still have those decentralization life in their bitcoin once they use Coinbase without going on a fact that this exchange is a registered company and has to follow laws involving money
- Taking too long to customer's query if that is really a major one. In my experienced, I encountered some minor problem but Coinbase respond in just less than a hour so I don't know if that will be applied to a major concerns.
- Customers ignorance. Just accepting that they read the whole terms and agreements of Coinbase but even the header is not yet read.
- Accounts closed due to suspected issues which is unresolved up to now

But despite all of that, there are still lots of people using Coinbase. So for now we can't really say that Coinbase is really on a dirty status now. Maybe some things have to look out especially those frozen accounts.


Mkmanik
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January 24, 2017, 06:57:11 PM
 #20

In my country, Coinbase does not support buy & sell.We use coinbase only for a wallet.Here people don't hate coinbase, they love coinbase a lot.Because coinbase has no transactions fees.So why most people like using coinbase wallet.I also like coinbase wallet.
But we face a great problem with this wallet.This wallet can't use for gambling.It's only the reason, people hate this features.

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