help with banking | Bitcointalksearch.org

hermanhs09

hero member

Activity: 574

Merit: 500

Quote from: ikeee on June 03, 2016, 11:10:25 AM

Hi all,

so I have around 3 bitcoins in hashnet and was going to transfer this to my coinbase account, but have read a few negative remarks about them here, just wanted those who know opinion on them are they safe ?. going to buy a lot more coins over the coming years and really want to not worry about them till the time comes to use them.

thanks guys I know many questions are on these matters but for newbies I need to know long term its safe.

Well, if you don't control the private key, you don't own the coins. It's simple as that.

Coinbase has a pretty good reputation as an online wallet, but anything can happen to a company. Like cryptsy, they can close down and pull off a runner any time. Because you don't have access to your private key, you lose all your bitcoins. I suggest you use a cold storage facility to store large amounts of coins instead.

Vaccomundus

member

Activity: 63

Merit: 10

use local wallet, don't use webwallet, they are bad and controlled, bitcoin is meant to be used locally, bitcoin should remain decentralized

Herbert2020

legendary

Activity: 1946

Merit: 1137

don't use coinbase for "keeping" bitcoin. you can use them for purchase if you like but never keep your bitcoin there. there is a lot of risks when you hold your coins in a web wallet especially one that you have no access to private keys.

use blockchain.info for web wallet : high risk
or use a desktop wallet which have lower risk if it is connected to internet and no risk if used always offline:
bitcoin core : full node (>60 GB)
Electrum : SPV wallet (30-40 MB)

or use paper wallet for max security.

Cybertron00

full member

Activity: 126

Merit: 100

Well man I use coinbase and so far their service is good but if you don't trust them just buy bitcoins on exchange sites, that way you'll feel more secured then transfer it to the wallet of your choice. Grin

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

Quote from: pedrog on June 03, 2016, 11:25:24 AM

Why don't you transfer to a 'normal' wallet, like Bitcoin Core, Multibit, ... ?

If you don't feel comfortable with Coinbase just use any other exchange, there are quite a few out there...

Yes, I do not know about them very much but I know that for example in blockchain at least you are more secure.

pedrog

legendary

Activity: 2786

Merit: 1031

Why don't you transfer to a 'normal' wallet, like Bitcoin Core, Multibit, ... ?

If you don't feel comfortable with Coinbase just use any other exchange, there are quite a few out there...

ikeee

newbie

Activity: 27

Merit: 0

Hi all,

so I have around 3 bitcoins in hashnet and was going to transfer this to my coinbase account, but have read a few negative remarks about them here, just wanted those who know opinion on them are they safe ?. going to buy a lot more coins over the coming years and really want to not worry about them till the time comes to use them.

thanks guys I know many questions are on these matters but for newbies I need to know long term its safe.

Topic: help with banking (Read 379 times)