Is there a better wallet than coinbase?

ricshaw453

newbie

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Quote from: harizen on May 25, 2017, 01:07:26 PM

Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

Almost all bitcoin web wallets are having an identity verification especially the exchanges. It was mandatory to them because they are complying with the rules and regulation about money laundering or any related act. For web exchanges to run legitimate, somehow they must become a quite bit being a centralized one.

Anyways, don't have an idea about Coinbase limits but are you sure you can buy only $250/week? That is low even for a non verified accounts.

P.S Moved this to Web Wallets section

Yes, i see it on my app. Actually, you're right. I don't see that restriction anymore. weird.

ricshaw453

newbie

Activity: 36

Merit: 0

Quote from: BitcoinNewsMagazine on May 25, 2017, 12:24:55 PM

Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

If you are in US you will not find an easier way to buy bitcoin than Coinbase and should take the time to get fully verified to raise your limits. Keeping your bitcoin on Coinbase is a little more controversial. You don't really own the bitcoin unless you have possession of the private keys, so consider a hardware wallet.

Yes, I am in the US. Do you have coinbase? If so, how much are you able to buy from your checking account? I am fully verified with them via their mobile app. I don't really understand what you mean by I "don't really own the bitcoin unless you have possession of the private keys, so consider a hardware wallet." I have btc in my conbase wallet. I can sell it if i wanted to which I have. So why don't I own it? Also, what exactly is a hardware wallet and how's it better than coinbase's wallet?

harizen

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Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

Almost all bitcoin web wallets are having an identity verification especially the exchanges. It was mandatory to them because they are complying with the rules and regulation about money laundering or any related act. For web exchanges to run legitimate, somehow they must become a quite bit being a centralized one.

Anyways, don't have an idea about Coinbase limits but are you sure you can buy only $250/week? That is low even for a non verified accounts.

P.S Moved this to Web Wallets section

FlamingFingers

sr. member

Activity: 1344

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There are no wallets friendlier than Coinbase, and it is indeed one of the best online wallets and quick exchanges. You would rarely find an exchange that doesn't require AML-KYC verification, especially when dealing with fiat.

Quote from: SvenBomvolen on May 25, 2017, 12:47:58 PM

Coinbase is the most known wallet indeed, but I use Blockchain wallet. That was the first wallet I knew about and during this 1,5 years that I'm in bitcoin world I don't even plan to change the place for my bitcoins. I am satisfied with it's work and that's it.

But don't come crying later after your wallet gets fucked, and your balance gone. Anyone should run as far as they could from Blockchain.info wallet.

Reid

hero member

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I agree with ETFbitcoin.
If you dont really need to buy and sell then just keep storing bitcoin on a offline wallet.
That will take you out of a lot of risk also.
If it is really online then have you tried Xapo?
I dont know about their limits but I know they are one of the best trusted online wallets.

SvenBomvolen

hero member

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Coinbase is the most known wallet indeed, but I use Blockchain wallet. That was the first wallet I knew about and during this 1,5 years that I'm in bitcoin world I don't even plan to change the place for my bitcoins. I am satisfied with it's work and that's it.

Iranus

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I suppose you're looking for an exchange more than a wallet. Personally, I would withdraw all Bitcoin from exchanges as soon as you've bought/sold as much as you want.

The purpose of Bitcoin isn't really anonymity, it's more to be peer-to-peer and not require trusted third parties. KYC regulations and the possibility of chargebacks for the exchange will typically mean that you have to verify your identity to any legitimate exchange.

If you want no verification and no limits, then don't use a traditional exchange at all. LocalBitcoins is all you need.

BitcoinNewsMagazine

legendary

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Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

If you are in US you will not find an easier way to buy bitcoin than Coinbase and should take the time to get fully verified to raise your limits. Keeping your bitcoin on Coinbase is a little more controversial. You don't really own the bitcoin unless you have possession of the private keys, so consider a hardware wallet.

European Central Bank

legendary

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Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

So Are there any wallets better and consumer friendlier than coinbase?

consumer friendly, anonymity and no limits will never go together.

you could look at bitsquare.io for something truly limitless and anonymous but i dunno how many people are on there. localbitcoins too but some of the traders there are just as uptight about ID.

Wipro

hero member

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Quote from: ricshaw453 on May 25, 2017, 11:55:51 AM

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

If you connect your coinbase wallet with the VPN plug in it won't by pass into the wallet. Then recently fees for the transaction has been increased to 0.00089 btc for a transaction. I don't know this network fees has been changed this much high value.I suggest you to use the electrum wallet which is best in desktop wallet.

ricshaw453

newbie

Activity: 36

Merit: 0

Hi,

I have coinbase and I really don't like their id verification requirement. Also, they limit you on how much you can buy and sell. For instance, I can only buy $250/week out of my checking account which is just ridiculous. And I can only sell $10k per week. I don't like these limitations. If there's one that doesn't require id verification would even be better. Thought the whole idea of btc is anonymity.

So Are there any wallets better and consumer friendlier than coinbase?

Thanks!

Topic: Is there a better wallet than coinbase? (Read 3844 times)