coinbase Pros and Cons of Coinbase.com

[Whited35 15285]

I forced myself to create this topic after noticing everyone discussing choosing Coinbase.com comfortably. Well, you are concerning to talk about its merit sides only but everything has both cons and pros, and what about the demerits of the Coinbase.com platform? Have you ever thought in this way? In this article, I attempt to provide you a comparative study of the cons and pros of the Coinbase.com platform so that you can have ideas before choosing the platform and I believe, discussions about the demerits of the platform on the forum will help, Coinbase to improve their services because the community has a power to bring the change as you all know that. 
Now let's get started.
Pros:-

• Simple for using the platform. 
• User-friendly interface. 
• High security and the trusted platform.
• Easier to manage the assets as non-technical users can also own the cryptocurrencies on Coinbase.
• Easier to send or receive crypto.
• Offer rewards to the user for learning about the coins.
• Easier to purchase cryptocurrencies.

 

Cons:-

• A centralized platform and very famous for suspending or freezing users' accounts.
• They do not provide an equal level of services to users from all around the world. Since you are dealing with your money and if you are from the countries where they do not offer telephone or email support services, you are more likely not to receive satisfactory answers from their support library. 
• During the high traffic time, their system becomes irresponsive for example you may not receive 2FA code in the text messages and their downtime is looking volatile at that condition.
• They store your passwords or wallet's private keys to their secured servers and you will not have full control over them. 
• Fees for purchasing the items on Coinbase is very high. 

 

Do you have any other points to add here? Highly appreciated it. Thanks😊! 

[DreamStage 2105]

First of all you forgot to mention about their Referral system 😛

https://help.coinbase.com/en/coinbase/other-topics/other/the-coinbase-referral-program

 

As for both Pro and Coin sides:

I agree with everything you said at Pro side except for the UI (Interface) which has changed alot of times behind the scenes and had some issues before with for example the cryptocurrencies addresses list where you create new addresses - sometime it wasn't working because they were upgrading their interface to the current one atm.

 

On the Con side everything's true as i have had some issues specially the high traffic time downtimes adn the higher fees but i guess is something they are going to "fix" it during the course of time.

 

Also never had an issue with my funds being suspended / stolen or frozen.

[Whited35 15285]

21 minutes ago, DreamStage said:

First of all you forgot to mention about their Referral system 😛

https://help.coinbase.com/en/coinbase/other-topics/other/the-coinbase-referral-program

@DreamStage Wow, thanks for your constructive feedbacks and appreciated with +5 😉. Are you willing to see their referral system in the Pro side? Anyway, there may be still a few more cons and pros from the Coinbase platform. Especially, in the recent days, platform has several problems. Myself, I did not receive OTP code in text to login. I telephoned them to address my issue and now I have enabled Google Authenticator instead of TEXT 2FA code. 

Edited December 8, 2020 by Whited35

[Whited35 15285]

21 hours ago, ZeeRooN said:

Coinbase is the largest cryptocurrency exchange in America. When we look at it around the world, it should be said that this exchange is extremely popular and large. With its experience in the industry, Coinbase has succeeded in creating the best wallet and has successfully learned what its users need.

Alright. Please be sure there are different products from Coinbase. Have a look at here, CoinbasePro, Coinbase.com, Coinbase wallet, etc. In this topic we are talking about Coinbase.com and this is hot wallet from Coinbase. Your login details and wallets' private keys will be stored in their secured servers. This topic is attempting to expose pros and cons of Coinbase.com. 

[Whited35 15285]

On 12/19/2020 at 8:49 PM, waqasshafiq said:

What the cause of this coinbase wallet is that millions of people are using this wallet.

in this way there are traffic issues while using the coinbase wallet but it seems it may be solved very soon

There are millions of downloads of the Coinbase wallet because so many people from all around the world trust this wallet due to its security and sustainable features to protect users' asset. It is an online wallet but it has never faced the major security breaches. They have to increase the staffs to perform various tasks especially during the high traffic, Coinbase is seen irresponsive and I think it will be also solved in the future. 

[ShiNorton 906]

Everthing in the world have good & bright sides. Coinbase has more bright sides than dark so it's the famous platform for many investors. I like all products from Coinbase company because they are careful about the security of users assets. I don't think deeper for their cons.

[Nimra Mushtaq 449]

Pros of this coinbase wallet are easy to use high security and safe , and you can store digital curruncey. While cons of the wallets are this is have long transcation time , but I think overall coinbase is good for use

[Malik Abdullah 376]

Coinbase is very famous wallet in the world of wallets. This wallet is very strong due to its security. We all easily use this wallet that's why this is very comfortable wallet for us. We can easily withdraw and receive money from this wallet.

[Whited35 15285]

On 1/4/2021 at 12:48 PM, Mahwish siddique 510 said:

@Whited35i completely agree with your opinion and information about the coinbase wallets.As we Al know nothing is perfect all over the world.Everything hav some drawbacks in it.we must consider both the merit's and demerits of any wallet .I appreciate your knowledge about this forum because it would be proved helpful in near future.Indeed it has many great features whichake it to be used Every where.

Users blindly choose platform without noticing the demerits that's why I created this topic to make everything clear. The demerits are also there for Yobit and Binance exchange and I might create topics in future by mentioning them too. Coinbase has been failed to fulfill my demands specially when there is a high traffic due to bullrun in the cryptocurrency market. 

[Anuu 220]

On 12/8/2020 at 7:12 PM, Whited35 said:

I forced myself to create this topic after noticing everyone discussing choosing Coinbase.com comfortably. Well, you are concerning to talk about its merit sides only but everything has both cons and pros, and what about the demerits of the Coinbase.com platform? Have you ever thought in this way? In this article, I attempt to provide you a comparative study of the cons and pros of the Coinbase.com platform so that you can have ideas before choosing the platform and I believe, discussions about the demerits of the platform on the forum will help, Coinbase to improve their services because the community has a power to bring the change as you all know that. 
Now let's get started.
Pros:-

• Simple for using the platform. 
• User-friendly interface. 
• High security and the trusted platform.
• Easier to manage the assets as non-technical users can also own the cryptocurrencies on Coinbase.
• Easier to send or receive crypto.
• Offer rewards to the user for learning about the coins.
• Easier to purchase cryptocurrencies.

 

Cons:-

• A centralized platform and very famous for suspending or freezing users' accounts.
• They do not provide an equal level of services to users from all around the world. Since you are dealing with your money and if you are from the countries where they do not offer telephone or email support services, you are more likely not to receive satisfactory answers from their support library. 
• During the high traffic time, their system becomes irresponsive for example you may not receive 2FA code in the text messages and their downtime is looking volatile at that condition.
• They store your passwords or wallet's private keys to their secured servers and you will not have full control over them. 
• Fees for purchasing the items on Coinbase is very high. 

 

Do you have any other points to add here? Highly appreciated it. Thanks😊! 

Great information about coinbase. Every site have pros and cons. These merits and demerits are essential to learn about any platform. It play vital role in your performance. If we know about pro and con we will working according this. Coinbase is good currency. It very easy to. Purchase cryptocurrency. It is highly secure platform. 

[Ab.Waheed 978]

Oh bro you always share useful information with us. You tell us good news all time. Coinbase is really nice wallet. It use to save for cryptocurrency. Many people use it to save cryptocurrency. It is used world wide to save currency. Coinbase campanies present in this world. 

[Muhammad Ahmad meo 689]

No, brother you give complete information about prose and coin's. All their features also explain in this topic. No point left behind all of these. If anyone wants to join coinbase.com then this post and platform is help him to understand the all features and rules. Thanks bro.

[Malik Abdullah 376]

I think pros coinbase is very secure and safe wallet. Yiu can easily store your digital currency in this wallet. The design of this wallet is very simple. I like the most this wallet due to its new features.

[Bitcoin Earning 249]

This wallet is very strong due to its security. We all easily use this wallet that's why this is very comfortable wallet for us. We can easily withdraw and receive money from this wallet.  Coinbase is very famous wallet in the world of wallets. This wallet is very strong due to its security.It is not a decentralized wallet it is actually centralized wallet. The best walet in world wide.coinbase wallet are great wallets.

[Alaska289 13]

You have done a great job by telling people about the benefits and disabilities of wallets...Being alert to all these things, we can make a sensible decision to slect a good  wallet.coinbase is just such a good its benefits are very much ...There are some advantages in the each and every thing and there are some flaws in it. 

[Cryptolover😍😍 990]

Dear mate you explain very well . It show that your are a good member of this forum. We all should be share Such a full information post. I think CoinBase is a safe and secure wallet. It's transaction fee is so cheep and everyone can easily bear this fee easily.

[M.Asif 499]

In my opinion coinbase is best online wallet to store your coins. It has many unique features and stratigies for users. The security system is very strong and authentication. It had never face any problems in security despite it's software wallet. It's fees are low and ensure full safe transections. In addition to this it's demand in market is on sky these days and user shows their desires to use and make their favorite one.

[Alex Morgan 420]

It has both advantages and disadvantage together we need to know about that before we use forum. It is actually can easily used but the problem is that it is centralised and can freeze your coins at any moment. Actually the design of this digital coin store is simple. 

[Whited35 15285]

On 1/12/2021 at 7:20 PM, lmmii said:

The design of this wallet is very simple.you can easily store your digital currency in this wallet.it is easy to use and it require a low fees on exchange .it also have a strong security as well.it is used world wide to save currency.

Alright they are merits of Coinbase.com platform. Have you noticed any demerits of the Coinbase online wallet yet? 

In order to make the proper decision while choosing any sort of the wallet, it is advised to check both pros and cons so that users should not blame for their choice later. This is just a piece of comparative study of Coinbase wallet.