Do you trust Coinbase with your money? Take a look at /r/Coinbase. Tons of posts every day about people getting their accounts randomly locked for months or longer; funds being held up upon deposit or withdrawal. If you don’t trust Coinbase, what do you use instead?
Don’t use Coinbase, the CEO is a loony tune.
I missed the news. Why is he crazy?
99% of those posts are blatant lies, the user is engaging in some kind of illegal (drugs) or prohibited activity (gambling)
P*rnhub premium is ok though right?
By illegal activities, do you mean illegal on-chain activities? Do you perform AML/fraud/sanctions checks on both withdrawal and deposits of both crypto and cash? Many of the complainers, including two in the comments section of this Blind post, have claimed 6+ months of account freeze time. That’s a lot of lost trading opportunities in this very volatile market. Sounds like your systems need to work on reducing false positives and also minimizing the time to an outcome.
They will lock your account and start requesting all possible KYC and AML documents that you can imagine. The process will last at least 6 months with no access to your money. There is a huge counterparty risk with Coinbase.
That’s horrible. The amount of missed trading opportunities…
Don't trade, buy and hold
My account with Coinbase is locked for over a year. I tried to recovery but the process is tedious. Since I am a hodler so not bothered.
What is the process like, and what do you think triggered the account freeze? Was it a large deposit/withdrawal?
Tbh coinbase is the best exchange. I am pretty sure most of people here don’t invest in crypto or they would know it’s the most reputable crypto exchange!
I bought Bitcoin on Coinbase in 2013 when I was just learning about crypto and transferred it to an external wallet I owned just to fuck around and learn. They banned me right after couldn’t believe it. Still can’t make an account to this day.
Got my account locked, took like 3 months to resolve and a lot of headaches, waiting in CS line ... don't do it if you wanna freely buy and sell
Horrible. What did you do to get your account locked? Withdrawal? Deposit? Sign up?
No and they won't let you move your crypto for like 7 days which is absolute trash
Exchange risk is a real problem in crypto
I usually buy on Coinbase and kraken and will send immediately to wallets I am in us But right now its better to buy directly on uniswap using moon pay so no need of any Cex