Post
Topic
Board Bitcoin Discussion
Re: Coinbase IPO isn't good for Bitcoin investors and here is why🧐
by
o_e_l_e_o
on 30/01/2021, 09:46:40 UTC
So, can I trust Coinbase anymore? I've been worrying about this these days, bitcoin is really important for me, I can take no risk of losing it Cry
I mean, Coinbase aren't going to sudden try to exit scam, so in that sense, you can still "trust" Coinbase.

However, Coinbase are not an ethical company. They frequently lock accounts with little to no reason, provide little to no recourse, keep users waiting for weeks or months without access to their coins, and demand ever more ridiculous amounts of KYC. Their servers "crash" whenever bitcoin moves by more than a few percent and users are locked out of trading. They insider traded the launch of BCash to make themselves profit. They bought out and incorporated a company and employees who were previously designing hardware and software which was being sold to dictators and used to suppress citizens and contribute to human rights abuse. They continue to make blockchain analysis and privacy invading software, and lease that software out to various governments and three letter agencies. They are now going to be focused even more on generating profits for their shareholders and even less on caring about their users. I wouldn't trust Coinbase to hold a single satoshi of my money.

As above, if you are holding bitcoin on Coinbase, you would do well to withdraw it and hold it in your wallet.