Why do so many people hate Coinbase?

jamsproject

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https://paxful.com/roots/buy-bitcoin?affiliate=ePn

Quote from: SHAWN-MIDWAYS on February 21, 2017, 04:27:15 PM

For a big company they are, they have failed to execute top quality services thanks to their poor support system, closure of accounts with absurd reasons for suspending\closing accounts.

Let me add and Itemize the complaints(some anecdotal):
1)I've had 6 days of no response from them.
2)Telling me it's not their fault for having Bitcoin boom.
So in other words, It's not our fault Cryptocurrency is in and we have no plans of upgrading
to support the high trade volumes.
3) BSOD saying "Service Unavailable" at least 5x a day
4)Meddling scum:https://www.reddit.com/r/btc/comments/6hik6e/coinbase_disables_account_for_ross_ulbricht_legal/

After the intermittent service outage, me and my friend opted to go back to
our Fallback site Paxful, and we did.

We can't take any of that stress.

SHAWN-MIDWAYS

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For a big company they are, they have failed to execute top quality services thanks to their poor support system, closure of accounts with absurd reasons for suspending\closing accounts.

squatz1

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Quote from: Pursuer on January 30, 2017, 03:35:10 AM

when speaking of bitcoin, we want the decentralization and control over our money which comes with controlling our own private keys. and this doesn't happen in coinbase. you give up all your control over your private keys and your money to a third party, which means you are using a bank and if you want to use a bank then use a fiat bank not a bitcoin bank!

I was speaking about using them on the use of buying and selling bitcoin, which I know people also want to be decentralized. I feel it's impossible to have something like that be decentralized, secure, and have a good amount of volume to be able to attract real traders to the service. You're going to have to use a business like GDAX from Coinbase as it's trusted, somewhat secure I suppose, and people use it.

Decentralization is not always the key to having something work wonderfully.

sbuxscreenerr

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They have pretty poor customer support and my account got closed from buying some coins on local bitcoins, i guess the seller transferred the coins from some market that coinbase deemed not trustworthy or something so they closed my account and never responded to any of my support tickets.

ivanst776

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Quote from: squatz1 on January 24, 2017, 10:53:36 AM

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

There are many reason why people hate Coinbase and using their services, I want to mention only few of them, the users who want to use coinbase as a wallet or as an exchange their first should read their terms of service because this is very much important, they don't allow people to use gambling funds or from an illegal source so they may end closing your account.

The other thing is about their bitcoin wallet, it's good that they cover the transaction fees but the worse part is that you don't have access to your private key which you don't have control over your funds.

Pursuer

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Where is my ring of blades...

when speaking of bitcoin, we want the decentralization and control over our money which comes with controlling our own private keys. and this doesn't happen in coinbase. you give up all your control over your private keys and your money to a third party, which means you are using a bank and if you want to use a bank then use a fiat bank not a bitcoin bank!

d@nte

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I think many users don't like the service because they have faced problems in the past, such as frozen accounts and problems with support. However, not everyone hates the service, I realize that many users still use coinbase, and this makes me think that there are still a lot of people satisfied with the service.

Mkmanik

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Quote from: maxxdxx on January 26, 2017, 10:57:15 PM

Because it's their customer support is poor. They can't afford enough customer service or something. They've always seemed to have difficulty working on the tickets they get.

Yes, it's right that, Coinbase support system is very poor.They did not answer customer questions properly.I am using coinbase about 2years.I never faced any issue using this service.But a few days ago personally, I try to contact with support team.They replied me after 2days later.
Also, they banned the user for gambling purposes without any warning.after banning people lost their all money with their wallet.There is no refund system. Sad

jaberwock

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they may freeze your wallet if you send funds to gambling sites, then goodbye your coins and there is nothing you can do

I don't use them because I want to be able to send coins anywhere I want without risk of my account being frozen and that I lose my coins

Zadicar

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Quote from: bitkilo on January 28, 2017, 12:13:25 AM

I used to have a Coinbase wallet a few years ago when i was new but it was pretty much useless to me back then because Coinbase did not yet operate their exchange side of the business in my country.

Just google Coinbase and i am sure you will find many reasons why people don't like them, at one stage it seemed like every week there was a new thread here "Coinbase closed my account"

This is commonly the thing that i have always read regarding on those feedback on which almost the same "Coinbase closed my account" but one thing comes through my mind that most of those users doesnt know the rules or ToS of coinbase thats why they suffer such situation.

DarkIT

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Well, last I use Coinbase, everything looks normal. I just do not like the complicated system. besides, maybe a lot of people who prefer xapo, or other than Coinbase. a lot of people who doubted Coinbase dair performance, perhaps his fee was too high. Well, people who use Coinbase might explain all about it.

PacePay

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Quote from: qiman on January 28, 2017, 01:19:05 AM

I do not use Coinbase myself due to many people complaining about it. I am thinking of opening a XAPO one to also get the debit card but am not sure if that one is working well but so far it has good reviews.

It is not worthy to use coinbase a number of people have problems with it but if you want to use xapo then it is better idea because it do not have much issues for their users. Only a few people complaint about it in the past few months but I think they now are fair with their members.

mrjoy15

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Quote from: greentea on January 28, 2017, 12:08:51 AM

Coinbase works fine until it doesn't.

The problem is, people happy with a service rarely come out and give praise. But when something goes wrong
individuals are much more likely to vent and leave a negative review online.

I've used coinbase on and off over the years, and haven't had any issues. There's just not many alternatives
going BTC <--> USD

Most number of people trust online reviews as much as they trust their best.Yes,just google Coinbase you should find so more bad experience with coinbase more likely to write a negative review.Often,it can feel like getting a bad review is hugely unfair.Writing a negative review takes a lot of effort and most of cases people continuously given negative feedback.That's not correct so far.
If you don't like coinbase just don't use or ignore their services,so far I don't face any problem using coinbase.

qiman

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I do not use Coinbase myself due to many people complaining about it. I am thinking of opening a XAPO one to also get the debit card but am not sure if that one is working well but so far it has good reviews.

bitkilo

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https://www.bitcoin.com/

I used to have a Coinbase wallet a few years ago when i was new but it was pretty much useless to me back then because Coinbase did not yet operate their exchange side of the business in my country.

Just google Coinbase and i am sure you will find many reasons why people don't like them, at one stage it seemed like every week there was a new thread here "Coinbase closed my account"

greentea

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Coinbase works fine until it doesn't.

The problem is, people happy with a service rarely come out and give praise. But when something goes wrong
individuals are much more likely to vent and leave a negative review online.

I've used coinbase on and off over the years, and haven't had any issues. There's just not many alternatives
going BTC <--> USD

The Sceptical Chymist

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Quote from: Lionidas on January 24, 2017, 11:19:27 AM

Not only the fact they charge a high rate to buy bitcoin from them their wallet sucks. They close your account with funds in them, it doesn't matter to them, if they deem you are sending "your bitcoins" to sites that they deem are not up to code to them. According to their TOS if you are violating any of their rules they will close your account and freeze your funds without notice to you until it is too late.
So you still have to ask why there is so much hate for a capitalist pig type of mentally in the bitcoin world?
They have grown to big they think they have the right to dictate laws to impose onto the bitcoin user who uses them as an option, and there are so many other options outthere who will not do this to you and your bitcoins.
Ever heard of coinjar? They are way better than this con company is.

This. I really miss Circle, and it's so unfortunate they got out of the bitcoin business. They were so easy to use for buying bitcoin.

Coinbase closed my account with no reason given, just a form-letter e-mail sent to me. I never found them convenient to use, and they definitely charged fees that were too high. But honestly I'd go back to them, because I haven't found a better place to buy bitcoin with fiat. Goddamn you, Circle!

soul-impact

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There are several issues with Coinbase which are apparently unsolved. In general, Bitcoin is created for the anonymity and it is wrong to open a third party company which holds Bitcoin for users. Many Bitcoin experts do not like or support this idea although that Coinbase is getting stronger every day. Moreover, Coinbase does not allow users to gamble or involve in any gambling activities and they will immediately close your account if you are found breaking the rule for several times

dmamigo

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Quote from: bravehearth0319 on January 27, 2017, 03:22:02 AM

Quote from: squatz1 on January 24, 2017, 10:53:36 AM

I've never had a problem with them from buying with them through the years and don't really see the source of all the hate for the company. Could anyone go ahead and provide some insight into why people hate it?

Thanks.

I tried to signed in coinsbase but when it is done, this exchange is not affiliated in most country, only few countries. therefore my country is not consider to their site. So I found out its not good anyway,

I don't hate Coinbase, but yeah I came across with issues, which were sometimes annoying. Like high fees, and mostly because it doesn't supports local transaction in my country, so I face some issues.

RawDog

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Quote from: QuestionAuthority on January 27, 2017, 12:41:38 PM

Coinbase should be failing without enough murricans that want bitcoin.

Coinbase failed because when their users make a trade, and three days later a big gain on exchange rate, Coinbase produces and 'error' that reverses the trade. Total dishonesty. Why the fuck would anyone use Coinbase? It is just another scam. A trade is a trade. The deal is done. If there is an 'error' then it is Coinbases' loss not the client. They have a different strategy and theirs produces huge profits for their own pockets at the expense of their customers. Stealing your customer's money through trickery isn't such a clever business plan. This only happened to me once. About $200 lost. Stealing $200 puts you out of business. Bye, bye Coinbase. Stupid fuckers.

Fire the employees, clean up the shop, turn out the lights. That shit is over. No faith in the community, no business.

Topic: Why do so many people hate Coinbase? (Read 4089 times)