Saturday, February 6, 2021

Anyone know what's going on with r/Coinbase?

(Posting this here because apparently I don't have enough comment karma for r/CryptoCurrency)

Hey all,

I just recently got into crypto and have been shopping around a bunch for different exchanges to use. Eventually I settled on Coinbase Pro since they seemed to have the nicest-looking platform, and they also have a promotion where you can get $29 worth of various different coins by watching a few videos.

The fees aren't that bad, but I did end up getting a lot of value eaten up by trades when I first started, trying to do 10 trades a day chasing dips and peaks. Now I've just got my account sitting on 4 different coins that I like and that's going a lot better for me.

I poked around on r/CoinBase for a bit and noticed... some complaints. A lot of people are saying that it's a scam site and they lost all their money, and are accusing Coinbase of stealing their bitcoin or whatever. I've been using them for about two weeks now and thus far I haven't had any issues whatsoever. It took a while for my funds to be available for withdrawal, but I wasn't planning on withdrawing anyway so that's fine.

Can anyone verify if the complaints on their subreddit are justified? Or is it just a bunch of new traders getting frustrated at account verification taking a while? What other exchanges do y'all recommend in the event I should get away from Coinbase? (I've heard about Binance but they can't open accounts to Texas residents so :shrug:)


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