Cryptocurrency Q&A
Why avoid Coinbase?
Why avoid Coinbase?
henry_grayson_lawyer
Thu Jun 20 2024
|
6 answers
1476
Why should investors avoid Coinbase, a seemingly popular cryptocurrency exchange platform? Some argue that the fees charged by Coinbase are disproportionately high, especially for smaller transactions, eating into potential profits. Others point to the platform's history of outages and technical issues during periods of high trading volume, raising questions about its reliability. Furthermore, Coinbase's strict compliance measures and KYC (Know Your Customer) policies have been criticized for being intrusive and limiting for those who prefer more privacy. With so many other exchange options available, investors are asking: is Coinbase really worth the trouble, or should they look for a more cost-effective, reliable, and privacy-friendly alternative?
6 answers
EnchantedNebula
Sat Jun 22 2024
The first reason to avoid Coinbase is its challenges with hostile regulators. The largest U.S.-based crypto trading platform has faced scrutiny from various agencies, including the SEC, which has even filed a lawsuit against the company.
Was this helpful?
371
67
SapphireRider
Sat Jun 22 2024
Data breaches are another concern regarding Coinbase. As a major player in the crypto market, Coinbase holds vast amounts of sensitive customer information, making it a prime target for hackers.
Was this helpful?
90
52
CryptoTamer
Sat Jun 22 2024
Disgruntled customers have also contributed to Coinbase's decreasing popularity. From account freezes to delayed transactions, customers have expressed dissatisfaction with the platform's service quality.
Was this helpful?
196
41
Carlo
Fri Jun 21 2024
Technical glitches have further tarnished Coinbase's reputation. Outages and bugs during peak trading times have left users unable to execute transactions, leading to losses and frustration.
Was this helpful?
284
80
Caterina
Fri Jun 21 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that Coinbase lacks. BTCC provides spot and futures trading, alongside secure wallet solutions.
Was this helpful?
141
38
Load 5 more related questions
