Topic: Is coinbase really a bad website to make a wallet on? - page 2. (Read 3156 times)

What? You're using coinbase (sometimes) but you don't have any transactions through it? How is that called using?. Coinabse is a really popular web wallet especially when you're new to bitcoin.

Then what happened to others who complained? Sorry to say but in this kind of industry, You don't easily trust someone. Right now, I am 99.9% of not usingg coinbase. There are many web wallets out there. I won't stick to the one who has a 50-50 Positive and negative feedback.

I used coinbase sometime but I didn't had to have any transactions from it but most of the people are using it and trusting it.

I had read somewhere here on forum that someone got problem with his account and it was disabled by coinbase.

But upon reaching their support and giving few questions to the owner, the owner answered correctly and promptly.

Coinbase did retrieved and gave his account.

Yes true, coinbase is second wallet after XAPO, I using more than 10 months and I never found the problems. For best secure I use VAULT, so when we send from VAULT, need more than 3 steps and more than 48 hours to finish.

Thats the reason why i dont use coinbase wallet after all because of its ToS which really restrict us on some other things and why would bother if there are good alternatives on having a web wallet?Just like on blockchain which you can use anytime you want and anything you want to do from it.Theres no restrictions which i do really love.

YES, that is the point- If your account are connected of any illegal activity like gambling attempt or don't follow their tos, then must be ready accept any reaction from that site, that you have been using earlier. Of course, it is very important to secure and maintain rules of any bitcoin wallet, not only coinbase.

Coinbase is very safe and a good wallet if you are us cititzen.

Coinbase is inherently unstable - when you hold coins with Coinbase they are not your coins and you know that, like Mt. Gox your exchange wallet, which is basically their promise to let you use Bitcoins, could go down at any time.  What makes this all the more terrifying is their slow support and the fact that they often suspend accounts for any illegal activity or even minor things like gambling.

Coinbase is good website,secured and easy to use but it is not advisable to store your bitcoins for a long time much better to use tested desktop wallet, its more secured compared to online wallets you have no full control of your bitcoins using these online wallets/exchange because of private key issues, I used only one online wallet for now, blockchain.info

I've expereinced this also that's when I start with bitcoin because coinbase is one service that I used, but that was before, from authy authenticator and even on the sms verification nothing works. That's why that's one of the reasons why left coinbase and now they even get worse, and I will not wonder if some coinbase users here will panic because of this charging fees they applied.

They lock accounts and refuse their customers to withdraw bitcoin from their wallets.
So what is not to like about them as a wallet?
Sound familiar? They are doing just like what Chinese exchanges are doing to their customers.

I am not able to recover my wallet since 2 weeks now. Everytime they keep asking me for a code from my Authy app which doesn't work. Their support also doesn't reply. Now the latest news is that they are charging fees too for transactions: http://www.coindesk.com/coinbase-charge-fees-blockchain-transactions/

 I don't have any reason to start using them again. They have gone down the drain.

When I first started using Bitcoin, I decided to try using Coinbase as my primary wallet. While they've got quite the snazy website that appears secure, I don't really trust my Bitcoins with them anymore.

First and foremost, the number one reason I do not trust Coinbase is the fact that your Bitcoins are not really stored on a cold storage source. It's actually quite a hot storage source. They don't even give you your private keys (which, if they were OUR wallets, then they'd give us OUR keys). Other sites like Blockchain give your private keys, plus they offer a lot more security.

Coinbase's form of security is email, phone and password. Not too advanced.
But Blockchain offers 2FA, account ID, password, phone, email, and a lot more. I feel super secure using them.

However, it shouldn't matter what site you're using (even if they're super big and famous): ALL online wallets are not safe but rather dangerous. At any time could the sites be hacked or become corrupt and no longer work. All your money could be gone in an instant.

That's why it is so recommended that you store the MAJORITY of your savings on a cold storage source (such as computer or even paper wallet but be careful with both) and, if you'd really like, store a little bit of BTC on your hot wallets online.

But online wallets, including Coinbase, are absolutely not recommended.

It is not.

However, it is not the best either.

If you look at coinbase, you won't get much functionality without having to verify your identity, attaching a bank account or a credit card to the account, which is something that bitcoin is against in the first place.

The only thing you can do without being ID verified, which could take days to complete, is to receive and send bitcoin or ethereum.

Coinbase is known for locking accounts that are associated dark markets and gambling and they have seized funds and provided information to the government. When you can just hold your own coins in a private key that you own, why not just do that?

Coinbase is okay as an online wallet, if you are using it to store a lot of bitcoins this would be a bad move, they could freeze your account to investigate whether the coins are in violation of their terms such as gambling.

As suggested using your own wallet is safest.

Coinbase is not so bad as the negative comments about it let's make you think. The problem comes from people not reading theirs TOS, and violate them. Or when they want to buy and or sell with Coinbase, Since Coinbase is very stricts with regualtions and laws, It's lead to some problems for some people,

Yeah right, we have to be realistic. No wallet is perfect, but when some people complain of course the best way is she/he contact with coinbase official, If all the rules we obey, surely we will not find the problem.

If you like being subject of extensive KYC/AML policies, ridiculous ToS (don't try to touch any gambling service with Coinbase, your account will be suspended).
Coinbase is one of the most restrictive online wallet services I know, but if you are fine with that - and if you like their feature of fee-less transactions, be my guest and use their service.
Just use any serious SPV wallet instead: Electrum or Multibit HD.

Everything does not guarantee, I use a coinbase 2 years and never experienced any problems. I'm sure coinbase is one good wallet because the recommended site: https://bitcoin.org/. Surely they have a compelling reason to recommend coinbase.

Yes don't use it, they have control of your money, use blockchain.info instead.

Delayed paymeny meaning the transaction confirmation? If Coinbase gives the tx id right away, then it's not there fault if the transaction is low or delayed. Bitcoin network is congested already.

Just noticed that my multiple today's transaction in Coinbase was done in a smooth process unlike in the past days where confirmation really takes time even at 1 although same fees are being used at all of my inputs.