Is Coinbase a safe wallet ? - page 2.

Oilacris

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Quote from: Wipro on August 10, 2018, 11:41:25 AM

Quote from: Bacchu on August 10, 2018, 05:44:57 AM

First of all, I want to tell you Coinbase is not a wallet. It's an exchange site. They did not provide you with any private key for your wallet. So you can't call it a wallet. I am using Coinbase for a long time and never faced any issue with this site. you can use it but never put a lot of asset on this site.
For holding BTC use a desktop wallet or blockchain wallet. They are safe instead of Coinbase.

Many of the wallets are seems operating same like coinbase.
I too know that coinbase is based with exchange still you find the wallet on various platform with better than other wallet specifications.
Then read their security concerns and norms they follow to secure their wallet users.

For those people who aren't aware on whats coinbase then they would probably have into their minds that this is just a typical wallet
without even thinking that Coinbase itself is an exchange site and which do have a certain wallet too but as being said you wont
really have your own private key just like on any exchange too. You can use up as a wallet but the risk on losing when theres a problem is
high.

Wipro

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Quote from: Bacchu on August 10, 2018, 05:44:57 AM

First of all, I want to tell you Coinbase is not a wallet. It's an exchange site. They did not provide you with any private key for your wallet. So you can't call it a wallet. I am using Coinbase for a long time and never faced any issue with this site. you can use it but never put a lot of asset on this site.
For holding BTC use a desktop wallet or blockchain wallet. They are safe instead of Coinbase.

Many of the wallets are seems operating same like coinbase.
I too know that coinbase is based with exchange still you find the wallet on various platform with better than other wallet specifications.
Then read their security concerns and norms they follow to secure their wallet users.

Bacchu

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First of all, I want to tell you Coinbase is not a wallet. It's an exchange site. They did not provide you with any private key for your wallet. So you can't call it a wallet. I am using Coinbase for a long time and never faced any issue with this site. you can use it but never put a lot of asset on this site.
For holding BTC use a desktop wallet or blockchain wallet. They are safe instead of Coinbase.

chuyengia2244

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Quote from: jrrsparkles on August 06, 2018, 11:30:06 AM

Quote from: Joshapat on July 28, 2018, 10:28:06 AM

I've been using coinbase for more than 2 years and until now I have not encountered any problems, I've combined with android version and it's all getting strong and secure, but I realize whenever coinbase can disappear.

You are okay to use coinbase if you have only small amount of bitcoins anything less than one bitcoin and and intention to see it or move to another wallet in short period but storing them in is not secured anyone since you are not controlling the private keys.

You are too worried about the private key issue in coinbase, I think it doesn't affect much to safety. Of course, with the large number of bitcoins, it's best to keep them in a cool wallet.

carlfebz2

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Quote from: Kodok Bencot on August 03, 2018, 10:10:59 PM

Quote from: Joshapat on July 28, 2018, 10:28:06 AM

I've been using coinbase for more than 2 years and until now I have not encountered any problems, I've combined with android version and it's all getting strong and secure, but I realize whenever coinbase can disappear.

I agree and no doubt again that CoinBase is a very good wallet, I've used CoinBase for more than a year and also combined with an Android wallet, I complete all identity verification so that if there are problems it's easier to solve.

This is what i like with Coinbase when they do have issues they can easily fix it and do give out updates on certain fix if you do turn on the notification when you are on mobile
but when do talk in the issue about if its safe then its not as most other people said on here we cant get the private key so we should not put up huge number of bitcoin not only the risk on losing it
but also you would be questioned coz coinbase is highly regulated.

jrrsparkles

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Quote from: Joshapat on July 28, 2018, 10:28:06 AM

I've been using coinbase for more than 2 years and until now I have not encountered any problems, I've combined with android version and it's all getting strong and secure, but I realize whenever coinbase can disappear.

You are okay to use coinbase if you have only small amount of bitcoins anything less than one bitcoin and and intention to see it or move to another wallet in short period but storing them in is not secured anyone since you are not controlling the private keys.

Kodok Bencot

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Quote from: Joshapat on July 28, 2018, 10:28:06 AM

I've been using coinbase for more than 2 years and until now I have not encountered any problems, I've combined with android version and it's all getting strong and secure, but I realize whenever coinbase can disappear.

I agree and no doubt again that CoinBase is a very good wallet, I've used CoinBase for more than a year and also combined with an Android wallet, I complete all identity verification so that if there are problems it's easier to solve.

Joshapat

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I've been using coinbase for more than 2 years and until now I have not encountered any problems, I've combined with android version and it's all getting strong and secure, but I realize whenever coinbase can disappear.

xIIImaL

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Quote from: maarx on July 21, 2018, 10:31:32 AM

Quote from: Aleeyou on November 17, 2017, 12:35:18 PM

I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?

I would better describe my experiece with coinbaae wallet. I have been using it for few months. Thank god i have not come across hacks and so on. Just focus in few things when handling wallets. The prior thing is to che k out the URL when comes to logging in. The URL shoukd begin with https//: . Make sure you activate 2FA googke authendication. Keep the passwors secured. Do not write it down. It is with us how secure we are with wallets and ither peraonal datas.

Instead of web, you may try their android or Mac application which your phone. Those are really good at having the fund so far as I am experience on that wallet good and my friends also using the same wallet so far. All seems good only.

Please go with the blockchain if you feel this web wallet is not good. I see you secure your wallet without any problem It will be perfect for secure the wallet I mean 2FA and app pin to make the payment.

maarx

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Quote from: Aleeyou on November 17, 2017, 12:35:18 PM

I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?

I would better describe my experiece with coinbaae wallet. I have been using it for few months. Thank god i have not come across hacks and so on. Just focus in few things when handling wallets. The prior thing is to che k out the URL when comes to logging in. The URL shoukd begin with https//: . Make sure you activate 2FA googke authendication. Keep the passwors secured. Do not write it down. It is with us how secure we are with wallets and ither peraonal datas.

Oilacris

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Quote from: sulendra12 on July 08, 2018, 10:46:39 AM

Quote from: ?? on ??

Quote from: Aleeyou on November 17, 2017, 12:35:18 PM

I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?

Coinbase hacked! when man? I think its a fake news, I am a regular user of coinbase and using since a long time. I don't face any problem with the site. but its not wise to use this site as a wallet. its just an exchange site. Try to use desktop wallet or blockchain wallet.

Please learn to read dude. The topic you quoted was on 2017 and it wasn't reliable anymore (although coinbase isn't recommended to use). While Blockchain is not safe either, it is okay to use coinbase to store the little amount of Bitcoin. But if you want to store Bitcoin as your cold storage, I'd prefer to stick with Ledger or desktop wallet.

About hacking incident I didn't remember that coinbase do experience such problem. The thing here is that when it comes to safety I don't recommend using up webwallet and as you said even blockchain wont be considered safe too.
The wallet I do only use is electrum or bitcoin core but when it comes to lite version and doesn't have problems on downloading the whole blockchain date I would stick up with electrum and ledger or trezor for long term.

sulendra12

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Quote from: ?? on ??

Quote from: Aleeyou on November 17, 2017, 12:35:18 PM

I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?

Coinbase hacked! when man? I think its a fake news, I am a regular user of coinbase and using since a long time. I don't face any problem with the site. but its not wise to use this site as a wallet. its just an exchange site. Try to use desktop wallet or blockchain wallet.

Please learn to read dude. The topic you quoted was on 2017 and it wasn't reliable anymore (although coinbase isn't recommended to use). While Blockchain is not safe either, it is okay to use coinbase to store the little amount of Bitcoin. But if you want to store Bitcoin as your cold storage, I'd prefer to stick with Ledger or desktop wallet.

stomachgrowls

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Quote from: socks435 on July 02, 2018, 06:55:51 PM

Quote from: semobo on July 02, 2018, 02:57:14 AM

Quote from: onebtcforlife on July 02, 2018, 12:41:55 AM

Coinbase is the safest wallet if you follow their security because there is huge community using the coinbase for many years, now slowly they are adding many coins for buying with the cards. Recently i heard they got a license for operating but from which country i don't know exactly.

But it is still not safeplace to store our coins because they don't have our private keys while using coinbase wallets so we can't import our funds to somewhere while there is an issue.First of all it is an exchange so we don't have to use them as wallet we really need to have some wallets like electrum for storing our bitcoin.

Coinbase was used by many bitcoin users and I think they are safe to use but the only problem is if coinbase site will down we don't have any backup seed or private keys to recover it in the future.

So if you wanted to save your bitcoin for a long time use a wallet which is you can backup the private key and seed phrase.
Coinbase is just for temporary use and don't save large amount of bitcoin.

Duration on how long is the service been operating doesn't signify that it is considered to be safe because when we do use up that word its 100% risk free on losing up coins. There are lots of things to be considered or to check out on coinbase and as being said you don't possess your private keys which once they do shut down then your coins would go the same way but somehow they are regulated which its hard to believe that recovery of funds wont be focused out. Second, just like any other exchange under governments regulation once you violate their ToS then you are subject to be hold up.

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Quote from: semobo on July 02, 2018, 02:57:14 AM

Quote from: onebtcforlife on July 02, 2018, 12:41:55 AM

Coinbase is the safest wallet if you follow their security because there is huge community using the coinbase for many years, now slowly they are adding many coins for buying with the cards. Recently i heard they got a license for operating but from which country i don't know exactly.

But it is still not safeplace to store our coins because they don't have our private keys while using coinbase wallets so we can't import our funds to somewhere while there is an issue.First of all it is an exchange so we don't have to use them as wallet we really need to have some wallets like electrum for storing our bitcoin.

Coinbase was used by many bitcoin users and I think they are safe to use but the only problem is if coinbase site will down we don't have any backup seed or private keys to recover it in the future.

So if you wanted to save your bitcoin for a long time use a wallet which is you can backup the private key and seed phrase.
Coinbase is just for temporary use and don't save large amount of bitcoin.

semobo

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Quote from: onebtcforlife on July 02, 2018, 12:41:55 AM

Coinbase is the safest wallet if you follow their security because there is huge community using the coinbase for many years, now slowly they are adding many coins for buying with the cards. Recently i heard they got a license for operating but from which country i don't know exactly.

But it is still not safeplace to store our coins because they don't have our private keys while using coinbase wallets so we can't import our funds to somewhere while there is an issue.First of all it is an exchange so we don't have to use them as wallet we really need to have some wallets like electrum for storing our bitcoin.

onebtcforlife

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Coinbase is the safest wallet if you follow their security because there is huge community using the coinbase for many years, now slowly they are adding many coins for buying with the cards. Recently i heard they got a license for operating but from which country i don't know exactly.

smartbitcoininvestor

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Coinbase is an excellent option for purchasing Bitcoins among other cryptocurrencies. I have been using their app for years now and it is one of the easiest ways to buy bitcoin around. I usually use Gemini to purchase BTC, but if I am on the go I will purchase BTC on my iPhone using the Coinbase app (my review here).

If you are worried about safety, the best thing to do - as with any exchange, is to send your crypto to an offline or hardware wallet. This way you will have access to your keys at all times, and also retain peace of mind.

richardsNY

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Quote from: spring07 on March 07, 2018, 11:32:20 AM

And note this: most times it is exchanges that get hacked, wallets rarely get hacked.

Coinbase, while a lot people use it as a wallet service, is mainly an exchange service, so you're not really convincing here. On top of that, Coinbase doesn't allow you to gain access to your private keys, which in a situation where the service for whatever reason stops working, you completely depend on the service to come back in order to withdraw your coins. In times where people directly suspect that a service got hacked after going down due to unexpected maintenance for example, it would be great if you had your private keys to keep yourself calm in such situations. In case you don't trust it at all, you can just move your funds. Remember, if you don't have access to your private keys, you don't actually own any coins at all....

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Quote from: Koro-Sensei on March 08, 2018, 02:56:19 PM

Coinbase is the safest wallet

No, coinbase isn't the safest wallet. They are trusted by many by it doesn't mean they are the safest wallet.

The safest wallet is where you have the control to your funds through private keys or seeds. But we might have different definition of the word 'safest'.

Quote from: Koro-Sensei on March 08, 2018, 02:56:19 PM

One in a million you will be hacked coinbase have 2FA feature so if you take your strategy seriously you could maximize your security using it.

By providing 2FA it can strengthen security but it doesn't mean that intruders can't go backdoor and steal all the funds behind. If you are talking about security, why not just maximize it by choosing a wallet where you have the private keys?

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Quote from: Aleeyou on November 17, 2017, 12:35:18 PM

I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?

Coinbase is the safest wallet you will ever get most of the time haters will do anything to make coinbase bad or even worse. One in a million you will be hacked coinbase have 2FA feature so if you take your strategy seriously you could maximize your security using it.

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