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Is Coinbase Safe? Concerns and Questions
 

Hey recently I really been getting into to crytopcurrency would you say Coinbase is a safe and good place to buy/sell and currency?

Also when I set up my shop I'm playing on accepting litecoin does anyone know a good place I can use?

Re: Is Coinbase Safe? Concerns and Questions
 

Coinbase is the best place to buy, but make sure you're comfortable with the given price because it can take about a week to get your funds in there unless you are willing to use your debit card. If you plan to purchase over $1000, I recommend using Gemini with a wire transfer because you pay no fees except the wire fee to deposit. Also, these exchanges may start to report your name and address if you plan on becoming a mid or large holder of cryptocurrency. The regulations currently in place are minimal, but govts around the world are starting to push regulations through.

Re: Is Coinbase Safe? Concerns and Questions
 

Coinbase/ Gdax / Gemini are the safest exchanges imo.

Make sure to get verified before using to avoid verification delays

Re: Is Coinbase Safe? Concerns and Questions
 

I have been using coinbase for about a month now with no issues. I have wired money to my account, I have used my bank account to transfer money and used my cc to buy btc. It can be slow at times but Bitcoin is booming now and they are trying to upgrade their infrastructure. Used gdax also, same company.

Re: Is Coinbase Safe? Concerns and Questions
 

Personally for webwallet I use blockchain.info

If you want it more secure and don't want to invest money in a hardwarewallet (yet) I'd recommend a software wallet like exodus.io Simply download, it's pretty much self explaining. With exodus you can receive and save your LTC easily.

Re: Is Coinbase Safe? Concerns and Questions
 

Does blockchain.info allow bitcoin and altcoin deposits from a bank account?

Re: Is Coinbase Safe? Concerns and Questions
 

Ill never work with coinbase after the horror stories I heard about them locking up accounts.
That's all I need - a paypal like company holding my bitcoin. The whole point of bitcoin to me was to avoid big brother - not to place my blind trust in a clone of the old model operation.
I keep my Bitcoin in a software wallet on my computer and move it to my hardware/cold storage wallets. Holding on to it for the long run this is the only way to do things as far as Im concerned.

Re: Is Coinbase Safe? Concerns and Questions
 

Exactly!

A webwallet kinda makes sense if you want to store smaller amounts. But even then I'd stay away from coinbase exactly because of what slokor heard, cuz I heard the same rumors.

Re: Is Coinbase Safe? Concerns and Questions
 

Not really sure about that as I use it as a wallet only. I don't buy my coins from there. However, as far as I know you can buy coins on blockchain.info. and you can buy it with bank deposit. Blockchain.info however only supports BTC, BCH and ETH

Re: Is Coinbase Safe? Concerns and Questions
 

If you store your coins on Coinbase make sure you use the 2FA Authentication with Google not the SMS. Makes it much harder to get hacked. If you are serious I highly suggest a Trezor or Ledger Cold Storage device.

Re: Is Coinbase Safe? Concerns and Questions
 

Couldn't someone just access your computer and check your gmail? How could they do that with SMS without installing a malicious program on the phone through the app/play store or a browser hijacking object that you authorize to install?

Re: Is Coinbase Safe? Concerns and Questions
 

People large amounts of funds have reported having their Phone Number ported.

Re: Is Coinbase Safe? Concerns and Questions
 

Don't they need your password too? I will change my pin code from the last 4 of my social to make sure this doesn't happen.

Re: Is Coinbase Safe? Concerns and Questions
 

I have been using coinbase for about a month now with no issues. I have wired money to my account, I have used my bank account to transfer money and used my cc to buy btc. It can be slow at times but Bitcoin is booming now and they are trying to upgrade their infrastructure. Used gdax also, same company.

Re: Is Coinbase Safe? Concerns and Questions
 

Does blockchain.info allow bitcoin and altcoin deposits from a bank account?

Re: Is Coinbase Safe? Concerns and Questions
 

They are all kind of stories with CoinBase, positive as well as negative.
Once you are verified, there should be no issue buying and selling instantly. You should go and make your own experience.

Re: Is Coinbase Safe? Concerns and Questions
 

Why am I getting the impression these last 3 posts are all from the same person? Empire maybe?

Re: Is Coinbase Safe? Concerns and Questions
 

Could you specify your doubts please and why?
I'm new on this forum and I don't have the time to manage multiple accounts. Not sure if you are talking about me?

Re: Is Coinbase Safe? Concerns and Questions
 

Yes Coinbase are one of the safest and most regulated exhanges next to bitstamp

Re: Is Coinbase Safe? Concerns and Questions
 

Said it before and will say it again - Ill NEVER deal with coinbase.
Theyre the 'paypal' of Bitcoin as far as Im concerned.
Do the research and read the horror stories about them and their crap service.

Re: Is Coinbase Safe? Concerns and Questions
 

I'd say coinbase are a good place to start, get the hang of things. But if you're storing a significant sum of money, i'd move it into a hardware wallet of some sort.

Re: Is Coinbase Safe? Concerns and Questions
 

Coinbase does have crap service and tends to delay things leading to problems on cashing out.

Re: Is Coinbase Safe? Concerns and Questions
 

I agree, Coinbase is a good starting point but now I think they are too restrictive and ban happy. There are much better platforms out there.. dare I say Kraken!

Kraken has a **** platform but they work and don't ban you.

Re: Is Coinbase Safe? Concerns and Questions
 

aspkin recommended kraken way back to me - I used it - takes a bit longer to verify id and be unrestricted but it does work

Re: Is Coinbase Safe? Concerns and Questions
 

coinbase is not safe.....they can seize your coins at any time.......

no exchange is safe.....always move your stuff to a cold wallet.......

Re: Is Coinbase Safe? Concerns and Questions
 

I like Kraken but they are strict on withdrawals, since I registered with a Canadian address I cannot withdraw USD which is a PITA. I dont believe there is a XMR/CAD option so I have to jungle multiple crypto conversions for CAD. When I decided to liquidate holding's I may use an intermediary outside Kraken.

Re: Is Coinbase Safe? Concerns and Questions
 

I only use coinbase

Re: Is Coinbase Safe? Concerns and Questions
 

Coinbase = Centralized exchange. The whole point of bitcoin is to be able to hold a value of funds in decentralized system. It defeats purpose to HODL any coin on exchange.

I can understand if you trade and want to keep small amount on Gdax,

Re: Is Coinbase Safe? Concerns and Questions
 

Yes coin base is quite safe, they are trusted.

Re: Is Coinbase Safe? Concerns and Questions
 

You just thanked this post above

So which is it? :suspicious:

Re: Is Coinbase Safe? Concerns and Questions
 

yes coinbase it a safe place to buy and store cryptocurrency

Re: Is Coinbase Safe? Concerns and Questions
 

Thisss

Frustrates me so much when people want to invest in crypto yet leave all their coins on a centralized exchange. Thus defeating the whole idea of crypto!

Re: Is Coinbase Safe? Concerns and Questions
 

Crypto was never intended to be an "investment vehicle" though...

Re: Is Coinbase Safe? Concerns and Questions
 

Quite a controversial question. I haven't used it yet, but heard different things about this company, both good and bad. But every exchange has its pros and cons, it's natural.

Re: Is Coinbase Safe? Concerns and Questions
 

I wouldn't really recommend to store your crypto in Coinbase or in Exchanges, except you need to trade with them daily.
User other Hot wallets like Electrum etc

Re: Is Coinbase Safe? Concerns and Questions
 

Coinbase is the way to go. If you are sending large funds make sure to wire them and use coinbase pro. When buying BTC/Alts limit buy them(not market) then get them to a real exchange like Binance.

Re: Is Coinbase Safe? Concerns and Questions
 

Well, I know one more place which is safe for buying/selling cryptos, CEX (https://cex.io/). Although currently they don't list LTC, I've recently checked their Twitter and saw the news about supporting Litecoin in the nearest future.

Re: Is Coinbase Safe? Concerns and Questions
 

I use a old laptop that is not attached internet to store my coins. If you want something smaller, there are simple ways to use old cellphone. Just make sure you have your keys.