6 upvotes, 1 direct replies (showing 1)
View submission: /r/Bitcoin FAQ - Newcomers please read
I've just joined Coinbase. Is this a good bet to buy and sell with?
Where do I send my coins to in between transactions, what wallet is my best option?
Comment by StrayDogRun at 29/11/2017 at 22:26 UTC
5 upvotes, 1 direct replies
I don’t like Coinbase because they’re trying to monopolize on bitcoin technology use. I’ve lost $18 of the $20 I invested into coinbase. (Low risk trial uses)
First, purchase fees. Lost a little money on my first action with coinbase - strike 1 Second, internal wallet transfer fee - from coinbase btc wallet to usd wallet - batting 0 for 2 here Third, external wallet transfer fee. This was a fixed fee that equaled $8 when I did it. $3 more than the amount I was trying to transfer. Strike 3!
And my credit union refuses to authorize coinbase deposits so exchanging for fiat is difficult at best.
Unless I got the coinbase Shift card service through a NYC bank. (defeating the entire point of bitcoin)
Coinbase is a failure for micro transactions in btc. Is it a good app and user friendly? yeah. My senior citizen mom can buy bitcoin.
But coinbase is not a good wallet for p2p use.
I’ve since gotten blockchain wallet for my iphone and keep a bitcoin core program on my home computer.