|
Blake_Last
|
 |
November 18, 2017, 03:29:38 AM |
|
Actually, Coinbase is not a wallet but it is an exchange that generates public addresses that can be used as wallets for Bitcoin, Litecoin, and Ethereum. Now, since Coinbase is an exchange, it can also be considered as a third-party network where you are not personally the one who's holding your coins but others. And like other third-party systems, they can be hacked or compromised.
In general, if you really want to have a secure wallet, then I would suggest not to use Coinbase, but instead, use a wallet where you have the full control of your private key. Some examples of such wallets are hardware wallets like Ledger, KeepKey, and Trezor, and also desktop/modified wallets like Bitcoin Core, Electrum, Armory, MultiBit, Exodus, Copay, and Green Address.
|
|
|
|
|
|
|
|
|
|
|
"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
magneto
|
|
November 18, 2017, 05:54:17 AM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
It's definitely not everyday that this happens. But the thing with coinbase is that you never know what's going to happen next. Their policy regarding bitcoin forks is extremely inconsistent and you always have to be on the look out for new policy changes. Also you do not control your own private keys, another downside of using coinbase or any other web wallets/exchanges. This means that if they get hacked, they do not have the responsibility of paying you back. You're trusting them more than you need to. |
|
|
|
|
|
siddartha1492
|
|
November 18, 2017, 07:30:36 AM |
|
Coinbase is surely one of the safest online wallets out there. The account which are getting hacked are because of user's carelessness or phishing emails, or someone targeting a particular account. Otherwise coinbase itself is a trusted and safe wallet. Just make sure to keep your password complex and long and have 2 factor authentication enabled. Then you are safe mostly. Also don't share your coinbase email with unknown people or in public.
|
|
|
|
|
Potato Chips
|
|
November 18, 2017, 08:13:53 AM |
|
Coinbase is surely one of the safest online wallets out there. The account which are getting hacked are because of user's carelessness or phishing emails, or someone targeting a particular account. Otherwise coinbase itself is a trusted and safe wallet. Just make sure to keep your password complex and long and have 2 factor authentication enabled. Then you are safe mostly. Also don't share your coinbase email with unknown people or in public.
When you use coinbase you are trusting your funds in a third party service because they do not give you your private keys as they're the one holding it so they're the ones who technically owns your funds because private keys symbolizes ownership. In short you don't only need to be careful of your own carelessness but also on the third party you're trusting to. But since its coinbase I highly doubt they will run away with your money. You just need to be wary of their compliance as they can always change it and their users has no choice but to follow it. Certainly not one of the safest wallets out there in fact no web wallet can be close to "safe" |
|
|
|
|
Hannahanto
|
|
November 18, 2017, 01:16:34 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Not have an experience on it. I meant not hacked. Activate 2FA authentication. Never keep logged in always, Never open your wallet in a new device you have not used, Try having one more wallet and shift now and then though you may occur some transactions fees. |
|
|
|
|
|
FLoving
|
|
November 18, 2017, 01:43:23 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Some of my friends are using coinbase and they like it the most for their bitcoin to keep secure and i have not heard from them about this type of news that it is unsecure. They are saying that this wallet is a more secure wallet and they are keeping their bitcoin in there for longer without any worry. The only thing you have to do is to secure your wallet password from others. |
|
|
|
|
AdolfinWolf
Legendary
 Offline
Activity: 1946
Merit: 1427
|
|
November 18, 2017, 01:56:54 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Some of my friends are using coinbase and they like it the most for their bitcoin to keep secure and i have not heard from them about this type of news that it is unsecure. They are saying that this wallet is a more secure wallet and they are keeping their bitcoin in there for longer without any worry. The only thing you have to do is to secure your wallet password from others. That's actually false. It is much more likely that someone cracks your coinbase passport than that they crack your Electrum / core keycode/password. Ontop of that, you don't have access to your private keys on coinbase, so if coinbase goes down because of a DDoS for example, you will no longer be able to access your funds. |
|
|
|
alyssa85
Legendary
Offline
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
|
|
November 18, 2017, 02:14:12 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Coinbase has it's hot wallets insured, which means that if they get hacked, the insurer will pay up so they can ensure no customer loses coins. I think they also have FDIC insurance for their fiat balances. It's pretty much one of the safest exchanges out there. |
|
|
|
AdolfinWolf
Legendary
Offline
Activity: 1946
Merit: 1427
|
|
November 18, 2017, 02:23:25 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Coinbase has it's hot wallets insured, which means that if they get hacked, the insurer will pay up so they can ensure no customer loses coins. I think they also have FDIC insurance for their fiat balances. It's pretty much one of the safest exchanges out there. Does this also count for individual accounts? What if someone hacks your account through for example another dataleak from another site? Is that insured aswell? I doubt it.. |
|
|
|
1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
|
|
November 18, 2017, 02:44:15 PM |
|
But since its coinbase I highly doubt they will run away with your money.
It's not about Coinbase itself running away with people's fund, but more about malicious employees, data loss, seizure, etc. No matter how unlikely certain scenarios may seem at first, it will always remain a potential threat to your coins. With various solid dedicated mobile wallet clients being available, where you at all times are the sole owner of your private keys, it actually doesn't make much sense to use online wallet services anymore. People mostly went for these wallet services because of their free external transactions, but now that's something of the past, the main purpose of using them has basically vanished. People as always, find it too much of an effort to switch to something offering them a better overall form of security.  |
|
|
|
|
|
aoihs00
|
|
November 18, 2017, 03:43:42 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
Lolz. Then they must be kids who forget to store their keys and passwords and keep the doors open for the hacker. I think coinable is very secure wallet and I'm using it since very very old time man! I have traded more than 10 BTC form it and I never had problems from the coinable side. The transaction view is simple, the specification of the wallet are just very right and you can buy and sell very easily from the wallets section. Im sure the news is always their for any services or products. Because there are always negative thinkers in this world who try to put up the bad impression of the good things. You cause it, its safe place. |
|
|
|
|
|
akamit
|
|
November 18, 2017, 04:56:34 PM
Last edit: November 18, 2017, 05:16:09 PM by akamit |
|
Coinbase is not a wallet, its an exchange.
At the beginning of my journey to crypto world I used Coinbase.
But when I known that its an exchange and not a wallet, then I moved to a wallet.
About risk, every online wallet or exchange has a risk of getting hacked. So take your necessary precautions.
That's why it is being said to keep your coins in your desktop wallet instead of web wallets. And also where you can control your private key.
|
|
|
|
|
caleb150
Newbie
Offline
Activity: 126
Merit: 0
|
|
January 07, 2018, 02:36:42 PM |
|
Exchanges and storage wallets should've be clearly distinguish. Exchanges should be use only for conversion from coin to coin or coin to fiat. Storage wallets should always be offline to be safe. Online wallets have many risk factors that may loss all coins. Factors such as legislations, hacking, bugs and many scams.
|
|
|
|
|
johnwan980
Newbie
Offline
Activity: 4
Merit: 0
|
|
February 23, 2018, 08:32:41 AM |
|
Yes for me coinbase is safe. Here is another thread on quora: coinbase review |
|
|
|
|
|
Wipro
|
|
February 23, 2018, 08:50:48 AM |
|
Yes for me coinbase is safe. Here is another thread on quora: coinbase reviewWarning, when you want to review about anything m please write with the new thread. Here you bumped the dead thread which does not want your answer at all. Newbies like please search bar on the forum to read the answers fr various thread but do not go to bump the any unwanted or dead thread. If you do the something on the meta or project discussion. You may get banned for 7 days. Hope you understand and will not repeat back. @op please lock this thread. Others don't male further posts and make it as a spam thread. |
|
|
|
|
zafaryaqoob
Newbie
Offline
Activity: 154
Merit: 0
|
|
February 23, 2018, 11:51:58 AM |
|
Whenever you create a wallet for bitcoin in CoinBase you must enable @ factor security feature otherwise have some chance to Hack your coinbase wallet, If you have enabled the tow factor security then impossible hack your account.
|
|
|
|
|
|
Joe-Niner
|
|
March 04, 2018, 12:15:06 AM |
|
I don't trust any online wallet. Use a wallet where only you control over the private keys like a local desktop wallet. Everything else is suspect.
|
|
|
|
|
vhiancs
Member
Offline
Activity: 238
Merit: 15
--=oOo=--
|
|
March 04, 2018, 02:23:20 AM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
I think it is only 80% secured because I have seen some thread here in forum about a problem with their coinbase wallet such as they can not retrieve their password and lose their funds, etc. So I can not say that the coinbase wallet really 100% secured. If you wanted very secured wallet for your fund use wallet has a private key to prevent being hacked by others, you can use Ledger hardware it is a kind of offline wallet. |
|
|
|
|
|
Wipro
|
|
March 04, 2018, 10:12:25 AM |
|
I don't trust any online wallet. Use a wallet where only you control over the private keys like a local desktop wallet. Everything else is suspect.
There are many wallets in online stil we can believe it. If you want to save bitcoin as a asset you go with the desktop wallet or hardware wallets. To speak about the safest concerns on Coinbase only this thread has created I believe. When you want to say you don't trust the online wallets. You can create a own thread for it. These kind of posts would be taken as a spam count. When the thread does not active you please do not bump the thread with any reason. I am using the Coinbase for long time I do not find any issue on using this wallet. |
|
|
|
|
|
cydrix
|
|
March 04, 2018, 02:22:55 PM |
|
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
You bet it is I'm sure they got hacked because they don't follow the safety protocols coinbase taught them. They might have some problems about the systems and you can face some bugs but so far so good it's one in a million chance. |
|
|
|
|
|
