that's why we should have to use popular and trustworthy service. I didn't here coinbase seized someones account without any reason, its true that they frequently ask for KYC for making their service more secured but I got them loyal.
Coinbase? Trustworthy? Lol.
Coinbase lock accounts and seize funds regularly without any reason. Their customer support is terrible, they do not respond to tickets, and users are left locked out of their funds for weeks on end. Just go and look at their subreddit - 50% of the threads are people with issues which are being ignored by Coinbase. I even saw this thread pop up in /r/bitcoin yesterday -
~ A user needs to farm enough Reddit karma so he can post a complaint on their subreddit because he has been locked out of his account for no reason and support are ignoring him. As he notes in his post, "That should tell you all you need to know about putting money in coinbase." This is what you call a "trustworthy" exchange?
Their ridiculous KYC policies doesn't make anything more secure - if anything, it makes it less secure for you. It helps them to stay in the good graces of the government, but it means more and more of your data is being sold and shared with third parties.
Maybe everything he said is true or not true, I'm not affiliating coinbase and I'm not connected with them officially. as he(your mentioned person) is a victim and a general coinbase user like me that's why I will naturally be on his side. And I think his problem should be solved.
you will find some people in every service that they are harassed and give negative feedback. So I think coinbase is no exception, of course they have a lot of flaws. But they have a lot of users too, personally I got them loyal.
If you have to adopt centralised services just to use Bitcoin for your payments, then you might as well use PayPal.
Coinbase is by no means a suitable alternative to rising fees and any other services like it doesn't serve as a suitable solution in the long run. Services like that will provide you with lower fees since the transfer is done within their own database, but you're sacrificing the transparency and the privacy of the individual. There's no company that would ever provide you with free services to transfer, there must be some strings attached. If you want to focus on low fees, I rather focus the efforts on LN and similar implementations.
Coinbase is a prime example of a company that doesn't give it's user the control of their own coins. They often freeze accounts on the basis of tainted coins which are often built on unfounded allegations.
Agreed with you, they didn't give us private-key or seeds. that's why I don't prefer to use coinbase as main exchange or main wallet, it should be used to hold low amount of BTC to pay your monthly coffee bill.