Is Coinbase Trustworthy?
It’s been a big year for Coinbase. The popular digital currency exchange made headlines in February when it announced that it had raised $75 million in new funding, valuating the company at $1.
6 billion. Since then, Coinbase has been on a tear, adding new features and integrations at a rapid pace.
The latest addition is support for ether, the native cryptocurrency of the Ethereum network. This is a big deal because it means that people can now use Coinbase to buy and sell ether, making it one of the easiest ways to get involved with Ethereum.
Coinbase has also been working on expanding its customer base beyond just retail investors. The company recently launched a service aimed at institutional investors, allowing them to trade digital currencies on a more professional platform.
All of this activity has made Coinbase one of the most prominent companies in the digital currency space, and it has drawn attention from both regulators and law enforcement. The question now is: how trustworthy is Coinbase?
The answer depends on who you ask. Some people have praised Coinbase for its transparency and security, while others have criticized it for being too centralizing.
Overall, though, Coinbase seems to be doing a good job of keeping its users happy and keeping their money safe.
One area where Coinbase has been criticized is its customer support. The company has been known to take weeks or even months to respond to customer inquiries, leading some to conclude that it is not very responsive to its users’ needs.
Another concern is that Coinbase holds a lot of user funds in centralized wallets, which could be at risk if the company were to be hacked or otherwise go out of business. However, Coinbase has taken steps to mitigate this risk by insuranceing all user funds and storing them in multiple locations.
Overall, Coinbase appears to be a reliable and trustworthy place to buy and sell digital currencies. While there are some concerns about the company’s customer support and centralization, these seem to be outweighed by its positive features.