Avatar of James Hancock
James Hancock
Flag for United States of America asked on

Crypto - I knew the coinbase tanking was coming. Will they change?


I signed up for Coinbase instead of BInance, coz they have an uncomplicated signup and trading process. - Just credit card. I also read that Binance can shaft you on withdrawing funds. I could start up a respectable wallet for my nieces and nephews each, with grandad's help.
Then I discovered they don't trade every token and I was incensed. This was apparently a safe-guard of some kind.
I knew their stock would tank, and it has. Nimrods. What did they expect? It'd be like Tom Brady refusing to play play-action. I got a chunk of
bitcoin and Ethereium in my wallet. It has gone up a good 2 thou from a 5k and 5k purchase.

Do you think that Coinbase will set themselves right?

* Finance* CryptocurrencyMiscellaneous

Avatar of undefined
Last Comment
Terry Woods

8/22/2022 - Mon
fred hakim

View this solution by signing up for a free trial.
Members can start a 7-Day free trial and enjoy unlimited access to the platform.
See Pricing Options
Start Free Trial
Ask your own question & get feedback from real experts
Find out why thousands trust the EE community with their toughest problems.
Terry Woods

Given the effort Coinbase has gone to to be able to operate in the US and list on the stockmarket too, I think they'll play things very safe compared to some of the other exchanges operating from countries with less regulation. That means less variety of tools and coins/tokens, and lower complexity.

There was an exchange in NZ called Cryptopia that tried offering an enormous quantity of coins/tokens. It got hacked and went out of business, likely because the complexity of what they offered came at the expense of security.

I suspect that Coinbase stock will follow the crypto market in general. If crypto thrives, Coinbase probably will too. It will however also be vulnerable to legislative changes.
This is the best money I have ever spent. I cannot not tell you how many times these folks have saved my bacon. I learn so much from the contributors.