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Author Topic: Does anyone use Coinbase?  (Read 445 times)
Lori_Cryptonetix
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August 14, 2017, 06:44:13 PM
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Just wondering if anyone else uses coinbase as a wallet for crypto currency and how well does it work for you?

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dababe
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August 14, 2017, 06:47:43 PM
 #2

Just wondering if anyone else uses coinbase as a wallet for crypto currency and how well does it work for you?

I highly recommend that you do not use a 3rd party processor or intermediary as your 'wallet'

Download wallet client software to your computer or download a mobile app.

Coinbase is similar to PayPal. And I don't have enough time to talk about their similarities.

Coinbase is good for one thing though.
For quickly transfering bitcoins or litecoins or ethers to coinbase and exchanging it for FIAT (cash) money to send to your bank account if you have the need to do so.

All the Best
BitMaxz
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August 14, 2017, 07:09:29 PM
 #3

Coinbase working well until now but the problem if you are using coinbase you don't fully control about the address you are using in coinbase if you really want your bitcoin to be safe better use a wallet which is you can backup the private keys like the above said it is much better to have a wallet which is you have fully control to your address..
As of now i use electrum desktop and mycelium for mobile and i never experience any problem about those software..

alva5763
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August 14, 2017, 07:10:11 PM
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I stopped using it due to their high withdrawal fees.
Lori_Cryptonetix
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August 14, 2017, 07:11:04 PM
 #5

thank you for your reply as a newbie I was unaware that coinbase is not a specific wallet (still learning) thanks again for the assist Smiley

~~Lori@cryptonetix.com~~
namjey
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August 14, 2017, 07:34:34 PM
 #6

I currently use coinbase. But I only deposit bitcoin to this wallet when I want to withdraw to bank account. Usually I don't keep any bitcoin there.
cryptomartin
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August 14, 2017, 08:51:14 PM
 #7

Well, Coinbase isn't the one I would trust a lot of money.
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August 14, 2017, 08:54:25 PM
 #8

It is a web wallet to store bitcoin but now using this online wallet is also to costly as they are now charging for incoming and outgoing transaction also. Even storing high coins is not safe as any time they can block your account giving any shit excuses. So it is much better to go with hardware or desktop wallet which is very good and strong in security.

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LTU_btc
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August 14, 2017, 11:15:29 PM
 #9

So far I didn't had any bigger issues with Coinbase. Anyway, I can't recommend to use as Bitcoin storage. Keep you coins on wallet, where you control private keys. Coinbase can be good wallet for daily usage - spending and receiving bitcoins, but it's not good idea if you want to use as your main wallet.

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August 14, 2017, 11:35:37 PM
 #10

I recently just got into cryptocurrencies and Coinbase doesn't seem bad in terms of purchasing BTC or ETH.

Storing however, I recommend external wallet or a separate mobile/desktop wallet.
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August 14, 2017, 11:58:11 PM
 #11

It is a web wallet to store bitcoin but now using this online wallet is also to costly as they are now charging for incoming and outgoing transaction also. Even storing high coins is not safe as any time they can block your account giving any shit excuses. So it is much better to go with hardware or desktop wallet which is very good and strong in security.
Are you sure that its costly when receiving or incoming bitcoin to your coinbase account?
I never experience that thing i am receiving bitcoin if someone pays me and never seen that they are deducted for every received bitcoin..
Only the sending is asking for the fee and its not honestly costly i think they are just giving the best transaction speed .
And there are people are always want their transaction fast..  so its not good for those people that they want to pay a small fee for every transaction.

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August 15, 2017, 05:32:27 PM
 #12

Just wondering if anyone else uses coinbase as a wallet for crypto currency and how well does it work for you?
For me it works flawless. I bought from fiat a few times, either directly by CC or by topping up the account. The only issue i had was with the activation of a security feature on my CC i started to have some dificulty using it, so i switched to bank transfers. Withdrawals i crypto went fine , withdrawals in fiat i didnt try.

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Mkmanik
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August 16, 2017, 05:28:52 PM
 #13

Just wondering if anyone else uses coinbase as a wallet for crypto currency and how well does it work for you?
Yes.I am a regular user of coinbase online wallet. Actually, i am using coinbase wallet for mainly Bitcoin.Because its free of charge for making transaction coinbase to coinbase mail.Also now using Litecoin and Ethereum wallet.It's easy to use but it's not 100% safe because they did not giving us private key for the wallet.So it will be better if you use a wallet that provides you private key for your wallet.

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August 17, 2017, 03:07:15 AM
 #14

I have a Coinbase account and use it from time to time.  However, the fees are higher than I'd like.  I recommend using Gemini.
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August 17, 2017, 09:18:00 AM
 #15

I'm too a long time user of coinbase but now I'm ditching it in favor of others as the fees are very high and I cannot set the fee myself. I'm using a freebitcoin deposit address for now as it also gives you interest and auto withdrawal is free of fees.

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August 19, 2017, 02:16:40 PM
 #16

Once upon a time used this shit exchange. The service of Coinbase for going out during every time market is correcting like ups and down, a fluctuation, etc. Several such of an issue, eventually closed users account without any single reason. Coinbase have poor security so far I don't believe it though.
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September 14, 2017, 01:36:18 AM
 #17

I finally got my limits increased after not using Coinbase for months.  Maybe if I continue to not use them for a few more months, they'll lower my fees also. 
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