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Author Topic: Coinbase in a nutshell  (Read 544 times)
MunkeySpaz
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November 27, 2017, 05:41:14 PM
 #21

Coinbase is popular because they make it easy. They make it feel like paypal. So to a new user who is maybe afraid of Bitcoin already, when they see something that's so easy to use.... They use it. They trust that it's secure and don't understand why no one wallet is secure enough to hold your whole balance.

I use Coinbase to buy and sell into USD. But I don't store my money there at all. It's just my middleman.
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November 27, 2017, 08:30:59 PM
 #22

I was at coinbase and most of the time had good experience with their service. Support was working well, when there was qn issue. Only changed my wallet to hold private keys.

Although Coinbase is charging now transactions fees, I think it's a good service for beginners. However, I would not entrust higher amounts to any third party.
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November 28, 2017, 05:34:32 AM
 #23

I heard PayPal was Own Coinbase. If this is true then there is not a wonder why Coinbase turned into a Shit Site...

Actually, Paypal hasn't bought Coinbase (yet) but they are in a close relationship.

Coinbase has always been shitty, even since the start of their services. They are the only web wallet who restricts where your coin comes from
I Don't know why people even use it, it's probably because it's very to buy from there but then why not just buy from there are move you coins to other wallet. Coinbase probably has the worst security as well.

As someone who uses Coinbase somewhat regularly to buy and sell bitcoins, why wouldn't I? It has way better rates than any other service available to me and has a very nice interface and is very easy to use. I know of no other exchange that allows people inside the U.S. to easily trade buy bitcoins at such low fees. If you look at alternatives such as LocalBitcoins, you'll see that these usually require trades to go through annoying processes such as converting into gift cards or prepaid cards instead of sending or receiving actual cash for the traded bitcoins. Furthermore, while the bitcoins are not technically owned by you since you do not have access to their private keys, they do seem to care about giving out the proceeds from any forks. While I do understand the reasoning behind not using Coinbase as a wallet, as an exchange it is actually very convenient and I still have not been able to justify any of the complaints that others have about them.

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