Coinbase no longer Trusthworthy? | Bitcointalksearch.org

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Quote from: CyberR. on December 21, 2017, 10:54:13 AM

Quote from: MadGamer on December 21, 2017, 07:02:42 AM

The recent posts are because of Coinbase listing BCH and basically attacking bitcoin for not updating to SegWit while It's a priority, U.S customers are switching to Gemini but overall, as said above, you should never store your bitcoins in an exchange for long term.

What's the Problem with Coinbase listing BCH? Why are people losing their cool over this matter?

They feel that Coinbase implementing SegWit would be a better use of their time. Personally though, I think that with BCH being so valuable now, they do have an obligation to their customers to at least help them withdraw.

Quote from: CyberR. on December 21, 2017, 10:54:13 AM

I don't prefer storing bitcoins in Bitcoin Qt due to some reasons, What about blockchain then?
Is it safer to store my bitcoins in Blockchain Wallet?

Blockchain.info do not store your private keys, and you can export a recovery seed to get your wallet back if they close down.

It's not ideal, because a person accessing your account could access your coins. You could always go for a hardware wallet (if money isn't too much of a problem for you) or indeed go for a paper wallet if you're holding long term.

Catmony

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Activity: 854

Merit: 500

Not only coinbase keeping your coins in exchange or any web wallets is full of risk specially during huge pump and dump on the price like right now. Either exchange/wallet can get hacked or it will unable to handle all the heavy traffics they will get during such high price volatility.

Keep them in either hardware wallet or paper wallet.

CyberR.

full member

Activity: 154

Merit: 100

Quote from: MadGamer on December 21, 2017, 07:02:42 AM

The recent posts are because of Coinbase listing BCH and basically attacking bitcoin for not updating to SegWit while It's a priority, U.S customers are switching to Gemini but overall, as said above, you should never store your bitcoins in an exchange for long term.

What's the Problem with Coinbase listing BCH? Why are people losing their cool over this matter?

Quote from: Xavofat on December 21, 2017, 07:11:18 AM

If you have fiat money in there, it's pretty safe since they're FDIC insured.

If you have a crypto balance, it's typically a good idea to keep it in your own wallet, provided that you can secure it properly. Crypto exchanges in general have a very poor record for security and often for foul play by the exchange itself.

I wouldn't say that Coinbase is necessarily worse than most other exchanges but it's better to be safe than sorry.

I don't prefer storing bitcoins in Bitcoin Qt due to some reasons, What about blockchain then?
Is it safer to store my bitcoins in Blockchain Wallet?

icanscript

hero member

Activity: 686

Merit: 502

The bitcoin is attacked on all fronts.
HODL bitcoin!

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

If you have fiat money in there, it's pretty safe since they're FDIC insured.

If you have a crypto balance, it's typically a good idea to keep it in your own wallet, provided that you can secure it properly. Crypto exchanges in general have a very poor record for security and often for foul play by the exchange itself.

I wouldn't say that Coinbase is necessarily worse than most other exchanges but it's better to be safe than sorry.

wadili89

legendary

Activity: 1106

Merit: 1000

No it's actually "Trustworthy" the right word to describe them will be useless headache their main problem is they ask to much and have so many so called rules asking people id and closing the wallets are a normal thing for them, i personally don't use them anymore.

MadGamer

legendary

Activity: 1568

Merit: 1031

The recent posts are because of Coinbase listing BCH and basically attacking bitcoin for not updating to SegWit while It's a priority, U.S customers are switching to Gemini but overall, as said above, you should never store your bitcoins in an exchange for long term.

Dolarin

full member

Activity: 294

Merit: 100

In my opinion keeping money on any exchange is a mistake. Coinbase is not an exception.

CyberR.

full member

Activity: 154

Merit: 100

I saw a few posts recently about mass departure from Coinbase. What's wrong?

Ma used to tell me never keep your money in Exchange Tongue

Should I transfer all my crypto from Coinbase?

Topic: Coinbase no longer Trusthworthy? (Read 146 times)