Coinbase is not safe!

[The Sceptical Chymist]

Coinbase is a centralized exchange and a custodial wallet. Therefore, they have to regulate transactions and they have the right to suspend/terminate/block an account.

And it's because they're so regulated by the US government that they are actually "safe".  Ever since I've been a member of this forum, I've seen tons of scams perpetrated by exchanges that weren't regulated, and with basically no oversight they were free to steal their customers' funds with impunity.

And yes, Coinbase can terminate anybody's account, and they don't have to give you a reason--but I don't think I've ever read about cases where closed accounts resulted in lost funds on Coinbase.  That's not something a highly-regulated exchange could get away with.  Compare that to an exchange like Yobit.  It's remarkable that they haven't pulled an exit scam yet.

I wouldn't be surprised to see coinbase blocking an account, however, when they block account, they give back the fund.

Yes, I had that happen to me with Coinbase and I didn't lose my bitcoin.

OP, I understand the concerns you have, which basically amount to privacy issues.  Even if I could reinstate my Coinbase account, I wouldn't--and for the reasons you pointed out.  I don't like banks or anyone else watching what I'm doing with my money.

[ethereumhunter]

Coinbase has full regulatory bank status in cryptocurrency. They watch your every move and regulate transaction and can block transactions to blacklisted addresses and exchanges. If you want any level of financial freedom that crypto can provide, stay away from Coinbase.

If you feel that coinbase is not safe for you, you don't have to use coinbase because there are many other exchanges that you want. Using the exchange that has regulatory is an option for every crypto user, and there is no force to use that exchange. But I am sure that many people will still want to use coinbase because they don't feel any problem.

Well they don't feel the problem because they are malinformed. The point of sharing knowledge is to improve this space and keep the path true to the original vision. If we don't point out these things and remain zealous about privacy, decentralization and P2P, the world will not change at all.

I am sure the world will change by itself, no matter if we try to change it or not because that is the natural process. Many people use coinbase, but other people do not use coinbase because they have their favorite exchange, and they don't get any problem until now. We can select which exchange can make us feel comfortable because the comfort will be the thing that we need to use the exchange.

[malevolent]

And it's because they're so regulated by the US government that they are actually "safe".  Ever since I've been a member of this forum, I've seen tons of scams perpetrated by exchanges that weren't regulated, and with basically no oversight they were free to steal their customers' funds with impunity.

And yes, Coinbase can terminate anybody's account, and they don't have to give you a reason--but I don't think I've ever read about cases where closed accounts resulted in lost funds on Coinbase.  That's not something a highly-regulated exchange could get away with.  Compare that to an exchange like Yobit.  It's remarkable that they haven't pulled an exit scam yet.

"Safe" except for all those people who lost millions due to SIM swap SE attacks. A big company like Coinbase should have known better than to allow it's users to use SMS as 2FA. I also recall many complaints with orders not going through during bigger price movements, usually to the disadvantage of the user.