First BitCoin Wallet - CoinBase

[chateaux]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

[neochiny]

That's not a good idea. It's against Coinbase's TOS to use their wallet with anything related to gambling.
Read their Terms. Or is this to be used for a separate service? (Nothing to do with your 'Casino Business'?)

As for which wallet, I prefer Electrum. It's a desktop wallet. Doesn't require much space but allows you to have full control of your wallet/private keys.
Anyway, you could take a look at this: https://bitcointalk.org/index.php?topic=1631151.0 and this https://bitcoin.org/en/choose-your-wallet

Or, you may also do a forum search, there are numerous threads discussing wallets.

[Hanako]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Uhmmmm.... Trying to check you that coinbase is not wallet it is an exchange site FYI...., but anyways coinbase is strict to gambling and i prefer not use them not nescessarly, althrough i think i must prefer you to use Mycelium (Android Phone) mycelium allows you to control your private keys and wallet, Electrum for (Desktop Wallet) it also allows you to control your private keys and wallet

[senyorito123]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Uhmmmm.... Trying to check you that coinbase is not wallet it is an exchange site FYI...., but anyways coinbase is strict to gambling and i prefer not use them not nescessarly, althrough i think i must prefer you to use Mycelium (Android Phone) mycelium allows you to control your private keys and wallet, Electrum for (Desktop Wallet) it also allows you to control your private keys and wallet

Not a wallet? I think they are and if they are exchanger can you see some alts of selection(aside from ethereum)? No right? And for what I see their main promotion is their wallet and nothing else more than that. But anyways i think you only think that coinbase is only exchanger since it has a feature that convert btc to usd or any physical currency?

[dustboy]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Uhmmmm.... Trying to check you that coinbase is not wallet it is an exchange site FYI...., but anyways coinbase is strict to gambling and i prefer not use them not nescessarly, althrough i think i must prefer you to use Mycelium (Android Phone) mycelium allows you to control your private keys and wallet, Electrum for (Desktop Wallet) it also allows you to control your private keys and wallet

Not a wallet? I think they are and if they are exchanger can you see some alts of selection(aside from ethereum)? No right? And for what I see their main promotion is their wallet and nothing else more than that. But anyways i think you only think that coinbase is only exchanger since it has a feature that convert btc to usd or any physical currency?

Indeed they are not a fully bitcoin wallet, they are actually an exchanger site but you can use it as your wallet. Exchanger is not only about altcoin, coinbase is more focusing on btc-fiat exchange.
You have to search what is bitcoin wallet and what is an exchange IMO. They are different..

[OmegaStarScream]

If you are going to use them as a payment processor then I suggest to build your own using the Blockchain.info or BlockTrail API, otherwise you should use a desktop wallet as It's much more secure then online wallets If you intend to simply hold funds and use them once a while.
I should remind you that services like Coinbase and Bitpay don't give you control over your private keys, which means there is a risk of getting your account frozen for one reason or another and there will be nothing you could do about it.

[SikatBray]

It would be good for you to use Desktop Wallet instead of Web Wallet in case you wanna use it as Merchant address.
I bid for 'Electrum'. Coinbase has many complains in past due to it strict terms and conditions.

[Dmitry.Vastov]

Nope. Coinbase or any web wallets are not ideal wallet for your business. Its because you have to follow their rules. if you violate their rules. They might freeze your account and never get back all your funds. Any SPV wallet should be fine. These wallets can be your own bank. Theres no rules to follow. You're on your own. Electrum, mycellium or bitcoin core are good wallets. You should try them.

[jaceefrost]

I wouldn't use coinbase if I were you if you are planning on storing bitcoins in it for a long time. Coinbase is an exchange ad they have a very strict rules to follow or if notthey will ban your accout and you will be risking your money in it. Better use a desktop wallet instead. Someone already gave a link to where you can find links for every wallet.

[ImHash]

Speaking of first bitcoin wallet, does anyone know how did Satoshi created his addresses? on topic, if you want to know which wallet is the best try to chose the one that is providing you being just a wallet and nothing more meaning they are doing everything maintaining the wallet and not distracted by their other services. if you don't have access to your private keys then it's not a wallet but a service controlling your coins and might even work with them like banks do with your fiat when you deposit.

[xIIImaL]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Thanks to take support btc for your business. If you prefer to use for the personal usage you can choose and use coinbase. Obviously they are good in fees and you can have a multiple wallet under one email sign up but it against your business in the conditions part.

Electrum also have all the same features in coinbase you can operate as a desktop wallet.

[Qartersa]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Thanks to take support btc for your business. If you prefer to use for the personal usage you can choose and use coinbase. Obviously they are good in fees and you can have a multiple wallet under one email sign up but it against your business in the conditions part.

Electrum also have all the same features in coinbase you can operate as a desktop wallet.

I wouldn't trust an online wallet though for my money and especially for a whole business that will accept their payments through coinbase. There have been recent problems with coinbase, like their servers going down and some transactions not going into the proper wallets. If you'll be dealing with a lot of transcations and a lot of bitcoins just use an offline wallet.

[lol3c]

In somehow, COinbase is still a good choice for running an online website or a service. It has many function and API so that you can easily connect it to your website. However, against their rule will cause a lot of troubles to you. If you decide to run a casino, you should not use Bitcoin because they can immediately shut down your account and your services. Moreover, they can also steal your money. I have faced with that problem once. Be careful

[crairezx20]

In somehow, COinbase is still a good choice for running an online website or a service. It has many function and API so that you can easily connect it to your website. However, against their rule will cause a lot of troubles to you. If you decide to run a casino, you should not use Bitcoin because they can immediately shut down your account and your services. Moreover, they can also steal your money. I have faced with that problem once. Be careful

They have a good api but your right you will receive a lot of troubles because you dont have freedom in coinbase.. in my experience when iusing their service i experience of delay that it takes a week before i receive after they refresh my account or the support are not replying it takes a week or more before they reply.. i am afraid if you are investing a lot of bitcoin in coinbase and coinbase will shutdown you will lose..
But i heard that they are get a licence i forgot where the place but i just found it in their blog that they bought a licence for their business.
Better to choose blockchain instead or start your own api server.. use aws amazon trial and start make your own wallet server..

[chateaux]

Thank you for all the replies, very useful information and helps to get my head around how it all works.

This is for a Webhosting business, nothing to do with gambling.

It would seem the consensus is to run our own wallet server.

[iamTom123]

If you are going to use them as a payment processor then I suggest to build your own using the Blockchain.info or BlockTrail API, otherwise you should use a desktop wallet as It's much more secure then online wallets If you intend to simply hold funds and use them once a while. I should remind you that services like Coinbase and Bitpay don't give you control over your private keys, which means there is a risk of getting your account frozen for one reason or another and there will be nothing you could do about it.

You can be right with that humble warning. I have read some complaints and sad stories along this line. Essentially, users of Coinbase and any similar wallet service are always at the mercy of the people running the service/site. And if you got some good alternative and you are really serious with the growth of your business then maybe you should consider some alternatives around. At all times we have to think ahead and try to map the future in relation to our business.

[Zadicar]

Thank you for all the replies, very useful information and helps to get my head around how it all works.

This is for a Webhosting business, nothing to do with gambling.

It would seem the consensus is to run our own wallet server.

Then it should be fine if you are using it for webhosting business but would like to suggest better to use blockchain.info than coinbase since you could able to get your privatekeys of your wallet.If you do hold up funds for a longer time because of your business then its wise to choose this but well its your own choice on what wallet would be comfortable with you.

[xIIImaL]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Thanks to take support btc for your business. If you prefer to use for the personal usage you can choose and use coinbase. Obviously they are good in fees and you can have a multiple wallet under one email sign up but it against your business in the conditions part.

Electrum also have all the same features in coinbase you can operate as a desktop wallet.

I wouldn't trust an online wallet though for my money and especially for a whole business that will accept their payments through coinbase. There have been recent problems with coinbase, like their servers going down and some transactions not going into the proper wallets. If you'll be dealing with a lot of transcations and a lot of bitcoins just use an offline wallet.

I agree it people who uses for the business related transactions, I am not part of coinbase but uses of coinbase is best when you compared with any other online. You could have multiple wallet under one primary email address, BTC valut, You could have ETH wallet also under one. These should coinbase best among the other wallet. I think you say about eletrum, multibit or bitcoincore. These also good wallet. op or even you could try anyone according to your wish.

[South Park]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

Use your own desktop wallet and save yourself all the headache it will come if you use coinbase as your wallet, you are risking your account being suspended and your funds being frozen, get away from them as far as you can.

[JanpriX]

Hi All,

We have decided to offer our hosting services using BitCoins as an option.

I have setup my wallet using CoinBase...

What is the general consensus on CoinBase and which wallet, in the communities opinion, is the best one to use?

Thanks!

For me, it is very important to choose your bitcoin wallet from the very start. My advice is to use a desktop wallet instead of an online wallet. This way, you'll have full control over your BTC. You could use Bitcoin Core but take note that you should synchronize it with the network (requires a lot of space and memory). Other option is to use a light desktop wallet. There are so many out there but the one I'm using right now is Electrum. Please take note that if you'll gonna choose this path, make sure that your computer is free from malware/virus/harmful programs.