#DeleteCoinbase - what is going on with Coinbase?

[samycoin]

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

Don't use Coinbase as a wallet if you are planning to hold a huge amount of bitcoin and your account can be ban if your source of bitcoin comes from gambling you must use mixer first before you send it to your Coinbase account.

It is fine to use as buying bitcoin but it is not a good wallet because you don't have any access to back up your own wallet and keys/seeds. It's not the same as other wallets that you can fully control over the private keys and seeds.

That's true because I'm using coinbase as buying and selling of some funds like bitcoin ethereum but I'm not using as a wallet because its dangerous much better to use a wallet with private key. And I think coinbase need to explain about deleting accounts.

[1714492077]

1714492077

[1714492077]

1714492077

[shield132]

What do people expect from a company which offer centralized services such as wallet and exchange which is "against" cryptocurrency goal/point rather than offer decentralized wallet/exchange?

People should've done it years ago/limit using Coinbase only to buy/sell Bitcoin and start using real wallet and DEX.

The fools even accepted XRP LOL.
I can not remember when was the last time I used it. I think I will also need to close my account too if I manage to find my credentials. #CoinbaseByeBye 🙂

For buying new fresh coins: What is a better option than COINBASE?  (with Fees and other things calculated in there)

Use peer to peer facilities. There are ATMs which I understand not many. There are some exchanges who allows you to buy bitcoin using the fiat. Binance added it recently.

ATMs can be found only in a few cities in the world  for now, so it's not an option for 99.9% of the people.

you are trying to tell this forum that the ATM's are super anonymous and Un Traceable??? YEAH. RIGHT.

Pamoldar
"Fools" accepted coin which is third on coinmarketcap and sometimes was keeping second position which means it was after bitcoin down to bitcoiin and over to ethereum, this means something. It's business and they want to attract more people, don't care about "support" of coins.

And now, guys who mentioned ATMs. At first I want to say it has nothing to do here and then, ATMs have so huge fees, it doesn't worth to use it, you can check fees yourself. On another hand yeah, it's pretty anonymous if you won't directly enter here with lights on your face and won't pay directly from your main wallet.

[vinc3]

Taking chances with coinbase or any other exchanges for your funds is literally insane in nature.Why not have wallets that you have your own private keys it is like having your own bank. When it comes to exchanges I prefer using decentralized ones dex bisq and others to name a few.Sooner or later people will realize that privacy will  be their main priority specially in dealing with their funds and transactions. For privacy and anonymity must be our right and not just a privilege.

[Kakmakr]

Those are 3 critical indicators that Coinbase is pulling a "Circle" on the Bitcoin community. Everyone know Ripple is a Bank puppet and now they bring that into their service. They also know the history behind Neutrino (Hacking team) and their previous involvement with Mallware, but they still "trust" them.

They should not be surprised when the Bitcoin community starts to turn their back on them, because they are turning into the service that Bitcoin was meant to be replaced. <Centralized service that exploit their power and their users and also contributing to mass surveillance by governments and private individuals.> 

[BitcoinGirl.Club]

ATMs can be found only in a few cities in the world  for now, so it's not an option for 99.9% of the people.

There are 3 other valid exchanges i know where you can buy coins with FIAT :
- Bitstamp ( i've been using it for years )
- Binance ( but i've tried buying with credit card there and  did not work for me )
- Bitfinex ( i have never tried it though )

About buying with FIAT on DEXes, the problem is trusting the other peers and eventual escrows , for example if you are going to buy coins with EUR/SEPA from another DEX user.

I understand that buying bitcoin using fiat is a hassle but things are improving a lot. We are early adopters, there will be a time when everyone will have bitcoins and everyone will use it to exchange things in their daily life.

As an early adopters if we can overcome the current barrier then we will be able to see another generation who will not even have any idea that how hard it was for us to buy big chunk of bitcoins.

you are trying to tell this forum that the ATM's are super anonymous and Un Traceable??? YEAH. RIGHT.

No one is saying the ATM's are super anonymous. How did you come up with this idea LOL

Pamoldar
"Fools" accepted coin which is third on coinmarketcap and sometimes was keeping second position which means it was after bitcoin down to bitcoiin and over to ethereum, this means something. It's business and they want to attract more people, don't care about "support" of coins.

They do not care about support, they care about business that's all. It us the few people who care a lot for a decentralized world. I hope some day the entire world will vouch for it.

[arnelandvik]

It seems to me that this tendency will continue to gain momentum among other major platforms, which contradicts the idea of the Blockchain. We don't need that, let it be deleted!

[davis196]

The problem is that Coinbase is the first choice of every crypto noob,when it comes to creating a crypto wallet,buying btc with debit/credit card and cryptocurrency trading.A lot of noobs will be screwed by Coinbase,that's why we should spread awareness about what's going on.

[cizatext]

From few days users of the Coinbase cryptocurrency exchange are closing their accounts in protest and sharing screenshots.

This is driven by a growing sense that the largest crypto exchange in the U.S. has lost its moral compass and can’t be trusted to be a responsible steward of customer funds and data.

The idea and hashtag began picking up steam more than a week ago when early spotters voiced concerns about Coinbase’s acquisition of the analytics company Neutrino.
But it truly went viral yesterday, largely at the urging of bitcoin developer Udi Wertheimer.

But why all the anger? Three controversial moves this month helped bring distrust of Coinbase to a head.

1. On February 12, Coinbase announced that its Coinbase Wallet would allow users to store their private cryptocurrency keys to Google Drive and iCloud.
2. On February 25, Coinbase announced that it would allow users of its Coinbase Pro service to buy XRP, the cryptocurrency behind aspiring bank-transmission provider Ripple.
3. The biggest impetus behind #DeleteCoinbase, though, was the announcement on February 19 that Coinbase had acquired a blockchain analytics firm called Neutrino.

Neutrino shares most of its leadership with Hacking Team, an Italian spyware firm that helped oppressive regimes worldwide monitor political dissidents and journalists. In several cases, Hacking Team’s work appears to have led to the imprisonment and even murder of pro-democracy activists—and some of its leaders seem to have had no moral qualms about silencing dissent.

For now, it’s hard to gauge how many users are actually leaving Coinbase. The exchange has tens of millions of users, so it’s tempting to dismiss the outrage of a few thousand insiders on Twitter as irrelevant. But recent history shows that ignoring #DeleteCoinbase would be a mistake.

You can read detailed article about #DeleteCoinbase here: https://breakermag.com/why-crypto-twitter-is-on-fire-with-deletecoinbase/

Am not surprise at all because coinbase a centralized institution users should not expecte privacy of their information on the exchange because it been own and control by a central authority which is answerable to an individual, in my personal view the move by coinbase to Neutrons with leadership structure with Hacking team it then means users are no longer safe. My personal opinion any way.

[clover12]

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

Do you have something to hide? If not and all of your actions are legal, then I wouldn't worry, there is nothing which will affect you and they won't leak/sell information about you.

BitMaxz
To be fair a lot of people don't care about private keys and etc, all they want is as easy place as internet/mobile banking is. That's why they have so much customers, on another hand you know people who take care of it use their own wallet and better exchange service.

Nope. Nothing to hide by me BUT......... i forsee them using transaction BUY info to report it to the government for reporting TAXES.. If I am not mistake the whole point of Bitcoin is to be your own Banker with your OWN currency.  I think CBase is going to start reporting peoples buys to the Tax Office!!

even still, i never bought that much coin, BUT.. if Bitcoin skyrockets in price, then what?  I'd be looking at hefty HEFTY taxes..

[hatshepsut93]

Taking chances with coinbase or any other exchanges for your funds is literally insane in nature.Why not have wallets that you have your own private keys it is like having your own bank. When it comes to exchanges I prefer using decentralized ones dex bisq and others to name a few.Sooner or later people will realize that privacy will  be their main priority specially in dealing with their funds and transactions. For privacy and anonymity must be our right and not just a privilege.

I think the biggest demographic that holds coins on exchange are traders, they don't want to move coins in and out of exchange every time they want to make a trade, so they just keep coins there, like they would on a stock exchange site. This may make some sense for those who trade many times per day and with not very big amounts, but treating exchange site as your savings account is just dumb, and people who do this don't understand what cryptocurrency is about.

[Juggy777]

The problem is that Coinbase is the first choice of every crypto noob,when it comes to creating a crypto wallet,buying btc with debit/credit card and cryptocurrency trading.A lot of noobs will be screwed by Coinbase,that's why we should spread awareness about what's going on.

I wish I could say I was surprised at people deleting their coinbase accounts, but I’m not as this was always bound to happen sooner or later. I know Coinbase is everyone’s first choice even I had a account there, but as soon I realised the downfall of having my coins on a exchange I stopped using it. Also it’s pertinent to note that this movement shall hit coinbase hard, and serves a timely reminder why one should not hodl coins in an exchange.

[o_e_l_e_o]

I've been saying for years - Coinbase care only about profits. They couldn't give two shits about their customers. Just go to reddit and look at the number of people complaining Coinbase have locked their accounts/funds without explanation or communication for months on end.

They were caught red handed in a massive insider trading scandal when they launched BCH support. Their customers lost millions while they profited. Completely unethical.
They deliberately and completely ignored their own Digital Asset Framework when they launched support for a bunch of shitcoins like LOOM, DNT and MANA. It then emerged that Coinbase's top investor was bag holding tons of these trash coins. They literally ignored their own policies so their top investor could dump these trash coins on their customers.
Now they hire people who sold tools to help oppressive governments around the world control their citizens and abuse human rights, again showing that they care not at all about people/customers/morals, and only care about profits.

There are far better exchanges out there. Don't use Coinbase.

[vit05]

The only way for Bitcoin to be adopted globally without these companies that put a foot in each world would be through a revolution. A revolution is when you pull down the pillars that sustain one environment to give way to another. This revolution would have to be made using weapons or cyber attacks.

Honestly, I do not believe that.

So it is useful for greater adoption of cryptocurrencies that we have companies with facilitated transit in both worlds. This should be seen as one of the steps towards a shift from the old world to the new. If you are already fully involved with the cryptocurrency facilities and you do not see any major problems in distancing yourself from the requirements imposed by governments, do not use those companies that have one foot in each place.

But think for people who are still in the ancient world and unsure of passing through the new. They need security and legality in their actions. Coinbase does not want to be the only option. They want to be the first choice.

[clover12]

I've been saying for years - Coinbase care only about profits. They couldn't give two shits about their customers. Just go to reddit and look at the number of people complaining Coinbase have locked their accounts/funds without explanation or communication for months on end.

They were caught red handed in a massive insider trading scandal when they launched BCH support. Their customers lost millions while they profited. Completely unethical.
They deliberately and completely ignored their own Digital Asset Framework when they launched support for a bunch of shitcoins like LOOM, DNT and MANA. It then emerged that Coinbase's top investor was bag holding tons of these trash coins. They literally ignored their own policies so their top investor could dump these trash coins on their customers.
Now they hire people who sold tools to help oppressive governments around the world control their citizens and abuse human rights, again showing that they care not at all about people/customers/morals, and only care about profits.

There are far better exchanges out there. Don't use Coinbase.

holy cow

[adzino]

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

By sending them out of there do you mean that you send it back to some other wallet other than coinbase? If yes, then you are totally fine. Just don't store your coins on coinbase for long term. Don't even think about storing large amount of coins even for short term. Remember, unless you own the  private keys of the wallet, you are not the owner of the wallet.

[clover12]

As a previous customer at CBase I bought coins, and my Financial Info and card information are CONNECTED to their website... How Can I delete my debit card info from Their WEbsite??? I do not want it in there. NO MORE

[XCANA]

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

Frankly speaking, the reality of this whole Coinbase is a matter of choice and not a decision one can decide for another. The only protection that you can give yourself now is gently move all your fund to another Exchange for proper protection and privacy. I did likewise when i was hit by their KYC stuff and later got account Blocked.

[clover12]

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

Frankly speaking, the reality of this whole Coinbase is a matter of choice and not a decision one can decide for another. The only protection that you can give yourself now is gently move all your fund to another Exchange for proper protection and privacy. I did likewise when i was hit by their KYC stuff and later got account Blocked.

I have no funds stored at Coinbase wallets. I am more concerned about my information that they have about me. My bank account numbers.

[wwzsocki]

I've been saying for years - Coinbase care only about profits. They couldn't give two shits about their customers. Just go to reddit and look at the number of people complaining Coinbase have locked their accounts/funds without explanation or communication for months on end.

They were caught red handed in a massive insider trading scandal when they launched BCH support. Their customers lost millions while they profited. Completely unethical.
They deliberately and completely ignored their own Digital Asset Framework when they launched support for a bunch of shitcoins like LOOM, DNT and MANA. It then emerged that Coinbase's top investor was bag holding tons of these trash coins. They literally ignored their own policies so their top investor could dump these trash coins on their customers.
Now they hire people who sold tools to help oppressive governments around the world control their citizens and abuse human rights, again showing that they care not at all about people/customers/morals, and only care about profits.

There are far better exchanges out there. Don't use Coinbase.

From what I see I didn't knew about many shady things Coinbase was involved.

How is this possible that there was no buzz in media about this insider trading and other facts @Oeleo is talking about?

I am following crypto related news on daily basis and have no clue about many things. Like I said there was nothing in media.

Strange don't you think?

[nc50lc]

-snip- On another hand yeah, it's pretty anonymous if you won't directly enter here with lights on your face and won't pay directly from your main wallet.

Uhm... AFAIK, ATM's CCTV cameras can see in the dark using infrared sensors (which why CCTV videos at night were black&whites).
Why is this an issue to them?
It's a centralized service which should abide by the law and protect its security, they are doing it for years and didn't even thought about the fact that it's been relatively the same all along, just acquired/partnered with something that will do their usual job independently.

People just need to learn that services that requires KYC/AML will always be informed about their crypto income and expenses that passed on it.
There are more option to buy and sell cryptos, coinbase is just one of them (just use it for "moderate" Buy or Sell).