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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 12-17-2017
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Default 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?
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  #2  
Old 12-17-2017
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Default 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.
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Old 12-17-2017
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Default 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
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  #4  
Old 12-18-2017
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Default 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.
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Old 12-18-2017
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Default 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.
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Old 12-18-2017
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Default Re: Is Coinbase Safe? Concerns and Questions

Does blockchain.info allow bitcoin and altcoin deposits from a bank account?
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Old 12-18-2017
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Default 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.
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Old 12-18-2017
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by slokor View Post
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.
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.
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Old 12-18-2017
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by duffrageous View Post
Does blockchain.info allow bitcoin and altcoin deposits from a bank account?
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

Last edited by dachilla; 12-18-2017 at 02:11 PM.
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  #10  
Old 12-18-2017
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Default 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.
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  #11  
Old 12-19-2017
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Default 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?
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Old 12-20-2017
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Default Re: Is Coinbase Safe? Concerns and Questions

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Originally Posted by duffrageous View Post
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?
People large amounts of funds have reported having their Phone Number ported.
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Old 12-20-2017
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Default 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.
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  #14  
Old 06-25-2018
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Default 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.
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  #15  
Old 06-25-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Does blockchain.info allow bitcoin and altcoin deposits from a bank account?
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  #16  
Old 06-27-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by slokor View Post
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.
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.
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  #17  
Old 06-27-2018
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Default 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?
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  #18  
Old 06-27-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by nate View Post
Why am I getting the impression these last 3 posts are all from the same person? Empire maybe?

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?
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  #19  
Old 07-06-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Yes Coinbase are one of the safest and most regulated exhanges next to bitstamp
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  #20  
Old 07-06-2018
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Default 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.
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  #21  
Old 07-06-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by itchibit View Post
Yes Coinbase are one of the safest and most regulated exhanges next to bitstamp
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.
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  #22  
Old 07-08-2018
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Default Re: Is Coinbase Safe? Concerns and Questions

Quote:
Originally Posted by slokor View Post
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.
Coinbase does have crap service and tends to delay things leading to problems on cashing out.
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