Topic: Coinbase - page 3. (Read 749 times)

I think the funds are most likely safe there, it just may be very difficult to access them during times of volatility

I think Coinbase is one of those online wallets that's useless for storing BTCs we get.

Will the company take the gurantee to protect people for putting money in their wallet?

its better buy wallet hardware if u have good amount why u take risk

coinbase is very safe. You can buy as many as you want. Not necessarily 1 or 2 btc

There are 2 items that come to mind with Coinbase. (I do have an account there)

     1. They lost the tax case in the USA, and will be supplying information about customer that have over $20,000.00 USA.

     2. Besides having a wallet they also have a "Vault" where you can put all or part of your wallet. I did that, as I fall under #1 above.
         Near the holidays when things started to get crazy in the crypto markets, I wanted to take my profits and store them in my $$ wallet.
         I was more than a little frustrated that it takes 48 banking hours just o move your money from "your" Vault to "your" wallet. you can cancel the transfer anytime during the 48 banking hours. Because of this I lost the opportunity bail out at 17K-18K/BTC and back in at 12K-13K/BTC. Lesson learned reality I did not loose anything but an opportunity.

        Also there is a pretty low $$ limit per month to remove from the hands of Coinbase or GCAX.

        For BTC and ETH I found Gemini a bit more flexible, but they also report to the IRS> (Of course if you are not a citizen of the USA this is of little interest to you)

        I now have a miner running in my garage, controlled by a computer in my office. If I have to do taxes on this stuff, then let me get some reduction by charging for my mining business.  

It is not required to purchase a whole amount of bitcoin. You can opt to purchase a hundredth of a bitcoin or even less. With regards to keeping your bitcoin in coinbase, i have a few buddies of mine that is keeping around 3-4 bitcoins in Coinbase, so I would say that there is no problem with their security since my friends were able to withdraw his funds anytime they want. Nevertheless, keep your funds scattered, don't put them all in one place would be the best option.

Well, first my country is not accepted to buy or sell something in coinbase exchanger.
As i know coinbase is top reputable exchanger and i heard nobody complaint to coinbase about any issue so i think it is safety.

It is safe to keep your bitcoins in coinbase or even at blockchain.info online wallets. Both are good.

Yes but how safe is it to keep $15000 on coinbase? Can someone hack or members from the company steal anyones money from their account?

It's important to understand how Coinbase thinks about regulation and compliance in the digital currency space. As an exchange, we view compliance as key to digital currency's success. At Coinbase, our mission is to create an open financial system for the world. We believe that open protocols for money will create more innovation, economic freedom, and equality of opportunity in the world, just like the Internet did for publishing information.

Thank you for the advice
If I put in Trezor or ledger, i cant spend it? Is there a fee to transfer to an address?
How safe is exodus and samourai? what are the fees?
Will I be able to see the increase in profit on these wallets? And where can I backup 3 different places?

Yea you can buy fractions of a BTC, but if you want to then buy 1BTC, it's a nice whole round number if you're going to long term hodl I'de look at getting a Trezor or Ledger nano S. If you plan on spending it personally I'de pull it into a wallet like EXODUS or Samourai wallet (because smart miner fees & RBF) backup and encrypt the wallet (store backup in 3x different places) and do it that way. Your welcome for the sound advice Cheers!

I have been a Coinbase customer for quite a few years now and I’ve only had a minor issue with my account. While the price was much lower I have purchased a full bitcoin before and never had any problems.  Throughout the years I have also cashed out a few thousand dollars again, never with any issues. I think when base is one of the leading companies in the world And it looks like it’s not going anywhere anytime soon.

You dont have to buy 1, you can buy fractions. If you have your account verified and are not breaking their rules, gambling, underage etc then you should be find. After buying coins you could always send them off of coinbase, as you dont own your private keys when they are on the site.

If you keep 1 bitcoin in a wallet, what is the network fee to transfer out of the wallet to an address?
What is safe online wallet or offline? Is there a way to know how much profit I made if i keep in the wallet, would
it show how much total dollars I have including the increase in value in the wallet?

Coinbase is good for buying and selling bitcoin due to their market price update simultaneously and the only bad experience had using their system which I'm still trying to workout happened last year when the high traffic occur their 2FA is no more send to my phone.

After reading the comments on this page I also have doubts wether to use Coinbase or not. Which other similar site gives you a platform to change BTC into FIAT if you need FIAT?

Coinbase is safe. There's alot of talk about inside trading to manipulate bitcoin cash price but there's not fraud or stealings report and you should be okay. And if you're some kind of big whale with over 100 btc then it would be probably wiser to switch to a hardware wallet to be more secure.

I only hear people whining about how expensive and slow Coinbase is, so I'd stay away for now until it gets the necessary upgrades to function properly.