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Author Topic: Why do so many people hate Coinbase?  (Read 3719 times)
xxjumperxx
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January 25, 2017, 11:41:22 AM
 #41

For me as a beginner I can say that I have heard pretty good experiences with coinbase.
When I transfer funds to them (euro from a german bank account) the funds arrive in less than a day...

The fees might be a bit higher, but I will glady pay a small fee for a easy buying experience.
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January 25, 2017, 11:49:16 AM
 #42

For me as a beginner I can say that I have heard pretty good experiences with coinbase.
When I transfer funds to them (euro from a german bank account) the funds arrive in less than a day...

The fees might be a bit higher, but I will glady pay a small fee for a easy buying experience.
I heard from users that coinbase wallet does not allow gambling for which its been getting hated. Gambling is one among the highly depended source by bitcoin users. When its not supported sure the reputation of the wallet service provider gets declined.



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January 25, 2017, 01:04:06 PM
 #43

i dont know about peoples but i could not said anything about it because i have never use it but i think many online site which are way better but i hope i will use it in the future because there is maximum in the fever of Coinbase ......!!!!

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January 25, 2017, 01:20:32 PM
 #44

i dont know about peoples but i could not said anything about it because i have never use it but i think i prefer many online site which are way better......!!!!

I'm using Coinbase wallet and app and I'm very happy with the experience. Coinbase is what average person needs but people hate it because it is a centralized company, like banks. So, libertarian dreamers hate Coinbase because of ideological reasons.

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January 25, 2017, 01:21:52 PM
 #45

It is because a year ago, Coinbase sided with Gavin Andreeson on the big blocks issue, and when it couldn't get resolved, they started to add alts to their services.

The core people were particularly incensed that Coinbase added alts because if alts have access to all the infrastructure built around bitcoin such as merchant apps and so on, it makes it easier for an alt to take bitcoin's place.

People talk about network effects, but if you plug in alts into bitcoin's network, then you don't need bitcoin anymore. Coinbase is a big part of the infrastructure as it links crypto wallets to bank accounts in the US, has merchant apps and other infrastructure stuff.

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January 25, 2017, 01:36:24 PM
 #46

i only use coinbase to buy and sell btc, and transfer to/from my core wallet right away. i dont use them as a web wallet.

they are slow to xfer dollars to my bank account when selling and when sending btc to them they can be slow to confirm.

other than that no real concerns here.
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January 25, 2017, 01:44:27 PM
 #47

i dont know about peoples but i could not said anything about it because i have never use it but i think i prefer many online site which are way better......!!!!

For your information, Coinbase is online site and wallet. Coinbase is easy to use and very user friendly and best for daily transactions. But you should not place all your coins in Coinbase. As it is online wallet, they dont give you private keep. Only best for using it to make transaction as they do not deduct transactions fee.

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January 25, 2017, 01:58:33 PM
 #48

- I'm not sure but I think the transaction is slow or delayed
- The transfer of money and withdrawals usually takes place very long
- Use money or receive money from gambling, account is blocked

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January 25, 2017, 02:06:17 PM
 #49

I dont like coinbase because one of my friend stole his funds in his coinbase wallet. Its also have history of sending funds and the receiver didn't receive the funds. They said it was already sent to the receiver but its not. Maybe coinbase is good only for small amount. I dont want to risk my bitcoin to that wallet. All i see here are negative impressions.

   
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January 25, 2017, 02:08:55 PM
 #50

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.
If You don't have problem yet may be because you haven't bought or held quite big amount of bitcoin there. If you will than they will just froze your account in the name of investigation and will ask you lots of personal documents.

They work just like paypal and bitcoin wallet is just their name, they never give you private key of your coinbase's bitcoin addresses so you will have no any control over your bitcoins.


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January 25, 2017, 02:25:29 PM
 #51

I haven't actually had any problem with them since I started using but I know that there's not a single human institution that'll be 100% perfect so they are liable to make mistakes and sometimes I think we should tolerate some except maybe their fees are on the high side; I haven't noticed that but it could be because my transactions haven't involved much BTC's.

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January 25, 2017, 02:35:14 PM
 #52

I am using Coinbase from last 14 months for sending/receiving bitcoin and never faced a single problem!
I really enjoy free of fees quick transactions offered by them! The maximum wait I ever had there was 4 hours.
To date, none of my btc suddenly disappeared or anything else happened as reported by many.
I recommend Coinbase to those who have to carry several transactions daily of lower values.
However, I never tried buying/selling there.

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January 25, 2017, 02:36:21 PM
 #53

Most people involved in the bitcoin economy are libertarians so they hate any regulations and coinbase is always crewing people around with regulations, but I think those people on coinbase are delusional. What do you expect if you want to have a bridge between the traditional system and the bitcoin system? they are going to be forced to comply with all regulations if they want to stay in business.

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January 25, 2017, 02:39:33 PM
 #54

no one hates coinbase, some may not use it, but they do not hate it, this is one of those OP's that is just trying for attention and something to talk about, another attempt to get a useless conversation going about something that does not exist
true I think no one people hate Coinbase, each people has its own criteria for wallet they like. so when they do not use Coinbase, it does not mean they hate Coinbase
It looks like coinbase is among the most used exchanges, so I think in fact many users benefit from it. However, I think the OP is trying to understand why there are so many complaints here in the forum, there is a number of topics where users complain about the service. Some of these reports may be considered to be false, of course, unless there is consistent evidence. I think Coinbase support should check these complaints to find out what's actually going on.

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January 25, 2017, 02:46:04 PM
 #55

i dont know about peoples but i could not said anything about it because i have never use it but i think i prefer many online site which are way better......!!!!

For your information, Coinbase is online site and wallet. Coinbase is easy to use and very user friendly and best for daily transactions. But you should not place all your coins in Coinbase. As it is online wallet, they dont give you private keep. Only best for using it to make transaction as they do not deduct transactions fee.


That's right. The number one mistake people make is putting all their fruits in one basket. In this case, They stored bitcoin in web wallets and end up hating the site when their accounts are either hacked, bitcoin deducted or in some cases, Users account are closed and removed with prior notice along with funds. I use Coinbase too and never had issue with it. I stored Majority of my bitcoin funds in a wallet that I own the private keys. Security is everyone's business. add

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January 25, 2017, 02:47:46 PM
 #56

Actually to comply with all rules and regulations set by government of the every country where they are operating they have to investigate each and every transaction going in and out from the accounts to stop money laundering. But this investigation will be pain for normal bitcoin users because they can't save large amount of bitcoin or send/receive bitcoin to/from wherever you want.

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January 25, 2017, 02:55:38 PM
 #57

That's true that some of Coinbase hater don't have valid/good reason, but you can't deny valid reasons such as :
1. Coinbase service is the opposite goal of bitcoin, especially about full control over our bitcoin, anonymity and privacy.
2. They have hidden fees at some of their services and their bitcoin rate isn't that good if you compare with other exchange.
3. They closed some of users account without real reason or warning in case user did something wrong.

So, no wonder many people hates Coinbase. But, coinbase users keep growing and they keep making profit even many bitcoiner hate them.

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January 25, 2017, 03:03:36 PM
 #58

Because they are a paranoiac American Company. If you happen to send them a huge amount of btc somehow, or you if you make huge trades, they will search out the shit out of you. And if they suspect of anything, anything tiny, your account will get blocked and your money will be seized. And suddenly you'll find yourself dealing with the secret service.

I would certainly stay the fuck away from them.
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January 25, 2017, 03:05:19 PM
 #59

Sometimes they have had delays where they don't give you your coins for over 12 days after it already left your bank account.  This happened as recently as at the beginning of this year.

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January 25, 2017, 03:08:41 PM
 #60

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.
You do not need coinbase for any other reason but only for buying and selling and you have not faced any problem in buying and selling that is why you do not hate while a number of people use it for different reasons and in that when they face any issue they start to hate bitcoin.

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