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That may be true, but we've come a long way. Coinbase insures all currency they store in online storage, and offline storage is significantly more secure and le
by AlphaWeaver 10y ago
That may be true, but we've come a long way. Coinbase insures all currency they store in online storage, and offline storage is significantly more secure and less hackable. USD in Coinbase accounts is FDIC insured too! It's not perfect, but we've certainly come closer to a safer exchange world.
- Zak 10y agoCoinbase also blocks accounts from buying and refuses explanation. They may be a little safer, but they're still far from reliable.
- wyager 10y agoThat's what happens when an organization is KYC/AML compliant. Legal compliance and customer experience are mutually incompatible in finance.
- mrb 10y agoIt's just because Coinbase is being extremely/overly cautious about detecting and fighting fraud. They will refuse to let you buy/sell if your account/documentation is a bit suspicious. And they can't explain you why you were tagged (or else fraudsters would simply ask why and would adjust their operations accordingly.)
- asciimo 10y agoIt's pretty easy to transfer your coins to an external wallet, and then spend it as you please.
- meowface 10y agoI personally favor them being overzealous than too lax. I'm pretty confident Coinbase will still be here in 10 years with no major breach. And I'm also fairly confident that even if there were a major breach, I wouldn't personally lose any Bitcoins or money.
- literallycancer 10y agoSomething something fetlife.