Is Coinbase a trustworthy company?

[KonstantinosM]

I was about to install their wallet on my phone for a coinbase earn reward. But I didn't. Their mobile wallet doesn't appear to be open source. So I didn't do it just yet.

I tried to search the forum for an answer but I couldn't find any good threads on it, even though I remember reading one a few months back. My experience with them so far has only been positive.

My gut feeling is not to trust this company. I don't have any reasons why, or actual logic and this is why I'm posting here.

Are there any red flags around Coinbase?


I want to pre-empt this with the obvious I'm not holding my bitcoin with them, nor do I have it on my phone.

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[bolawin]

i dont know about phone app but coinbase website is trusted

[o_e_l_e_o]

Are there any red flags around Coinbase?

More red flags than communist Russia.

Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again

[ranochigo]

If they're asking you to install their app to earn any rewards, there has to be a catch for them. Money doesn't grow on trees, however trustworthy the company is, they're not a charity.

[KonstantinosM]

If they're asking you to install their app to earn any rewards, there has to be a catch for them. Money doesn't grow on trees, however trustworthy the company is, they're not a charity.

The catch is obvious there, shilling for a project, they're probably getting paid (same as advertisement).


I did end up doing it, they gave me $10 of free eth (which I probably should have kept and not followed their tutorial) and $3 of some stablecoin, so that I would follow a tutorial to stake some BS coin. So I ended up with $4 of free ETH (leftover from transaction) and some staked free stable coins. ($3 staked CUSDC coins)


Something else, at the dip earlier today (16.3k), coinbase pro was down so I missed buying one of the dips. I already bought the previous dip but I still wanted a little more.

Are there any red flags around Coinbase?

More red flags than communist Russia.

Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again

That's the thread I was looking for!


My biggest grievance with coinbase so far is them going down at the worst possible times. I never keep any BTC on the exchange. So if they go down I'd be mostly unaffected.

I like some of their features though. I'd feel really frustrated if I was running coinbase and all I got was hate from the people within my own industry. They do so many things right.

For the average Joe to buy bitcoin (if they use coinbase pro for less fees) I'd recommend them.

[jrrsparkles]

Many people lost access to their coinbase wallet but their support never resolved such cases that os the red flag around the coinbase wallet as far as I know,but if you are going to install just to get the rewards then it's not going to be a problem for you unless you don't want to complete your KYC verification.

[BayAngelo]

you should visit their website and make sure you are downloading the current and trusted coinbase wallet. besides, their might be possibilities that you need to upgrade your phone to meet the mobile app compatibility. you can get back to coinbase for further clarification. do not fail for scammers creating fake app to steal from people.

[jrrsparkles]

you should visit their website and make sure you are downloading the current and trusted coinbase wallet. besides, their might be possibilities that you need to upgrade your phone to meet the mobile app compatibility. you can get back to coinbase for further clarification. do not fail for scammers creating fake app to steal from people.

I don't think anyone is using the android version which doesn't support coinbase app but coinbase wallet and exchange are different and also it is not available for people from every country so first thing is to check whether the app is available in the google playstore which gives the idea that it is available in your country or not, and don't download if it is nit supported in your country because all of your funds might get frozen for violation.

[Bitcoins101]

Coinbase is the PayPal of the Bitcoin world. Ubiquitous, used by most newcomers, bans people all the time for no reason, acts all high and mighty while being responsible for more criminal activity than any other exchange, and their customer service is so terrible it feels like they hate their customers.

[NotFuzzyWarm]

I have had zero issues with Coinbase (Pro) and have used them as an exchange for years.
If someone is banned there is generally a damn good reason for it - mainly seems to be from them using shady gambling sites or other TOS violations.

while being responsible for more criminal activity than any other exchange

And your proof of that is?
Considering Coinbase is bending over backwards to comply with regulations set down by various governments I highly doubt that. Any exchange that does not follow AML/KYC protocols is going to be the exchange of choice for folks engaging in nefarious activities.