5 ms·

Is Coinbase also a case of not your keys, not your crypto? What would be the best way then to have your keys and your crypto? I never really understood the whol

by chirau 5y ago

Is Coinbase also a case of not your keys, not your crypto? What would be the best way then to have your keys and your crypto? I never really understood the whole crypto storage stuff and how to approach it.

encryptluks2 5y ago
Yes absolutely. Coinbase has terrible customer service, often ignoring support requests completely until you go onto social media and try to get their attention publicly before they'll even give you a response. I don't think there is necessarily a "best" way to have your keys and crypto, but usually depending on the crypto you use they usually have an official wallet that you can use where you'd be responsible for the key(s). This means that you act like your own bank though, so if you lose your private key you also lose your crypto. Therefore it is important to use utmost security, privacy and safety when displaying and saving your key. A lot of people swear by hardware wallets like Ledger, and I think those are probably the best options for people that don't know a lot about security and crypto or possible even those that do.
- PaywallBuster 5y ago
  yep, takes them weeks/months to reply to my email about deposit issues. I guess they don't want my money
- neodon 5y ago
  Yea they are terrible. They told me based on my state ID that I scanned and uploaded that my name was "wrong" -- i.e. if I'm "John L Smith III" they basically said my name is really "Smith Iii L John" and refused to fix it, effectively nuking my account because it didn't match my real (wrong?) name. Oh and it took them over a month to respond.
- raziel2701 5y ago
  Coinbase, a nasdaq listed company, handles customer support through its subreddit. What's more, a few weeks back a customer got scammed through coinbase's subreddit when his support request was answered by another user impersonating coinbase customer support, instructing the customer to move their coins to a wallet number they gave them in order to solve the issue. The customer lost $75k and there was nothing coinbase could do other than "sorry for your loss". Here's the thread: https://www.reddit.com/r/CoinBase/comments/nhug9u/75000_just_disappeared_from_my_coinbase_wallet/ https://www.reddit.com/r/CoinBase/comments/nhug9u/75000_just...
  - encryptluks2 5y ago
    I smell a fresh wave of lawsuits in the crypto space with companies like Coinbase. Honestly, they just remind me of Robinhood during the GME fiasco. They are also a Y Combinator company too.
    - dnissley 5y ago
      Robinhood did not go through y combinator.
      - encryptluks2 5y ago
        No, Coinbase did. Sorry for the confusion.
  - tluyben2 5y ago
    The support is bad but this was phishing: how is it coinbase their fault? Not to mention that most big companies have kafkesque awful support, but if they offer better for $0.01/year more, all their clients will go elsewhere. Bad support is only noticed when you got bitten and just not that a big % gets bitten, even if support is awful for almost all that needed such support (you need support, the bot chat does not work for you (apparently it works for people) and then you need to have a bad experience).
    - raziel2701 5y ago
      Does a company worth $47 billion running customer support through reddit not raise giant red flags to you?
      - tluyben2 5y ago
        Yes, but so does no support at all at Google. We can, by now, for go the nonsense that it is a free service: they make money selling our data so we pay. And yet, no support. And there are more examples of huge companies not giving any or adequate support. Here in the EU Revolut is known for support horror shows too. But yes, support via reddit is weird, I agree to that.

by chirau 5y ago

encryptluks2 5y ago

Yes absolutely. Coinbase has terrible customer service, often ignoring support requests completely until you go onto social media and try to get their attention publicly before they'll even give you a response. I don't think there is necessarily a "best" way to have your keys and crypto, but usually depending on the crypto you use they usually have an official wallet that you can use where you'd be responsible for the key(s). This means that you act like your own bank though, so if you lose your private key you also lose your crypto. Therefore it is important to use utmost security, privacy and safety when displaying and saving your key. A lot of people swear by hardware wallets like Ledger, and I think those are probably the best options for people that don't know a lot about security and crypto or possible even those that do.

PaywallBuster 5y ago
yep, takes them weeks/months to reply to my email about deposit issues. I guess they don't want my money
neodon 5y ago
Yea they are terrible. They told me based on my state ID that I scanned and uploaded that my name was "wrong" -- i.e. if I'm "John L Smith III" they basically said my name is really "Smith Iii L John" and refused to fix it, effectively nuking my account because it didn't match my real (wrong?) name. Oh and it took them over a month to respond.
raziel2701 5y ago
Coinbase, a nasdaq listed company, handles customer support through its subreddit. What's more, a few weeks back a customer got scammed through coinbase's subreddit when his support request was answered by another user impersonating coinbase customer support, instructing the customer to move their coins to a wallet number they gave them in order to solve the issue. The customer lost $75k and there was nothing coinbase could do other than "sorry for your loss". Here's the thread: https://www.reddit.com/r/CoinBase/comments/nhug9u/75000_just_disappeared_from_my_coinbase_wallet/ https://www.reddit.com/r/CoinBase/comments/nhug9u/75000_just...
- encryptluks2 5y ago
  I smell a fresh wave of lawsuits in the crypto space with companies like Coinbase. Honestly, they just remind me of Robinhood during the GME fiasco. They are also a Y Combinator company too.
  - dnissley 5y ago
    Robinhood did not go through y combinator.
    - encryptluks2 5y ago
      No, Coinbase did. Sorry for the confusion.
- tluyben2 5y ago
  The support is bad but this was phishing: how is it coinbase their fault? Not to mention that most big companies have kafkesque awful support, but if they offer better for $0.01/year more, all their clients will go elsewhere. Bad support is only noticed when you got bitten and just not that a big % gets bitten, even if support is awful for almost all that needed such support (you need support, the bot chat does not work for you (apparently it works for people) and then you need to have a bad experience).
  - raziel2701 5y ago
    Does a company worth $47 billion running customer support through reddit not raise giant red flags to you?
    - tluyben2 5y ago
      Yes, but so does no support at all at Google. We can, by now, for go the nonsense that it is a free service: they make money selling our data so we pay. And yet, no support. And there are more examples of huge companies not giving any or adequate support. Here in the EU Revolut is known for support horror shows too. But yes, support via reddit is weird, I agree to that.