Topic: Is coinbase really a bad website to make a wallet on? - page 4. (Read 3150 times)
Coinbase wallet is safe to use if you follow their rules and never break it. But Coinbase wallet don't give your private keys, and it's not best idea to use it as main wallet. I recommend to use it for daily needs and don't keep big ballance on Coinbase.
Because of halving several times like pending stealing my bitcoin and heard about the credit card issue i do not trust them anymore..
Much better to in trusted wallet bitcoin core or bitcoin-qt but it needs to download the who blockchain.. if you want the lite version try electrum and you can use it lite weight version of bitcoin core.. and i am using it never experience any issue.. and you can backup your private keys and wallet.dat once your wallet is gone and you have private key you can install it in other wallet.. and get your bitcoin..
Much better to in trusted wallet bitcoin core or bitcoin-qt but it needs to download the who blockchain.. if you want the lite version try electrum and you can use it lite weight version of bitcoin core.. and i am using it never experience any issue.. and you can backup your private keys and wallet.dat once your wallet is gone and you have private key you can install it in other wallet.. and get your bitcoin..
I created my first wallet on Coinbase when I started, but I don't recommend that you hold a huge amount of bitcoin on it. The better is to create one on your smartphone because you have access to it and you control the bitcoin. But in the case of Coinbase, you don't have control of what the owner will do with it.
Installing a wallet on phone is not recommanded either
Yes, it's safe. Now, if you have to store thousands of dollars I'd invest in some hardware and create your own wallets for offline storage.
coinbase still is an online wallet which isn't safe the fact that anyone with the intention to hack, can probably get into their site and withdraw your coins leaving you nothing. this is somehow like what the rest of the people here in the forum advises, don't trust and exchange for the are like online wallets.
Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
Installing a wallet on your phone or computer is the best option. It is important to remember that you don't have a wallet at Coinbase, you have an account. I recommend Airbitz, Mycelium, or Electrum. If you really must have an online wallet, use blockchain.info. At least you still maintain control of your bitcoins.Coinbase is certainly not known for stealing bitcoins.
If you do not have sole and complete control over the private keys, you do not have any bitcoin. Having the private key versus having a web wallet account is like having physical gold versus having worthless gold certificates backed by a shady company that can collapse at any moment. We humans have the ability to learn from past mistakes, there was once an exchange called mtgox, that collapsed after about 700kBTC were stolen by hackers. Many people around the world thought they had bitcoin, but they only had mtgox credit, when mtgox collapsed, poof!, it was gone.
The lesson:
Keep your bitcoins in paper wallets, desktop wallets, mobile wallets, hardware wallets or brain wallets (tricky to use safely, not advised for newbies), not in web wallets!
The lesson:
Keep your bitcoins in paper wallets, desktop wallets, mobile wallets, hardware wallets or brain wallets (tricky to use safely, not advised for newbies), not in web wallets!
I have no real experience with coinbase but people say the IRS gets full access and when you make gains they want a significant amount of it.
If this is true then it is weird because Bitcoin was created to avoid this.
If this is true then it is weird because Bitcoin was created to avoid this.
Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
It's not that bad but since t's not a wallet but an exchange wallet, they are more prone to issues like the current they are facing now. Imo people should avoid using an exchange walle in storung in their bitcoins an just use it when they are buyjng or selling coins. If you are hesitant to use coinbase, choose blockchain.info instead or better yet use one where you fully control your privatekeys like in desktop wallet, electrum, and for mobile , mycelium. 
Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
I have a sincere advance that if you have many bitcoins, Do not use online wallet to store it. Please use private wallet such as bitcoin core wallet for cold storage. it's safer than online wallet.
Well, is it? From what I heard they have a credit card issue or something, I can't really remember what. And they're known for stealing bitcoins. If so, what other online wallet should I head into?
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