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[BMF]

Coinbase
Coinbase is one of the world's biggest digital currency wallet/exchange that support storing, transacting and trading of cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. It one of the oldest begineer entry cryptocurrency exchange which support buying and selling of cryptocurrency directly with a connected Bank account or other payment methods.
Coinbase is a San Francisco based exchange and was founded in 2012 by Brian Armstrong and Fred Etrsam as part of Ycombinator. Coinbase started as Bitcoin Broker, selling Bitcoin directly to customers but over the years has added alot of services along the way making it one of the most reliable crypto exchange out there.
Coinbase currently has over 20 million users from all around the world with over $150 Billion worth of cryptocurrencies traded. Also Coinbase was able to raise $217 million from world leading investors like Ycombinator, Andreessen Horowitz, USV, USAA and more making it one of the most reputable crypto exchange with lots of external backing.

Coinbase support trading of BTC, ETH, LTC, BCH, ETC and more. Users can deposit using either Wire Transfer or Debit/Credit card.

It is important to note that Coinbase is a fully licensed and regulated KYC/AML complaint exchange, you are required to undergo identity verification before you can make use of it service.
Currently Coinbase support and fully operate in 32 different countries across Asia, Europe, North America and Australia.

Pros:
1. Begineer Friendly: This is one point where Coinbase really shines, it's is one of the most recommended beginner entry cryptocurrency wallet/exchange cause one does not need to know how to trade to buy and sell cryptocurrency on the platform using ones bank account. Coinbase is mostly regarded as one of the best exchange for beginners to trade Bitcoin and other cryptocurrencies, It interface is very clean, Intuitive and easy to navigate.
Coinbase also provides a mobile app available for both Android and iOS.
2. Reputation: Coinbase is one of the oldest reliable exchange out there with millions of users and it backed by reputable organizations. Coinbase is also one of the few cryptocurrency exchange that is protected by insurance.
3. Security: Coinbase takes careful security measures to ensure optimal security of users funds. According to it website, about 98% of customer funds are stored in offline storage and distributed in safe deposit boxes in different geographical location all around the world.
Two factor authentication (2FA) is also available for adding extra layer of security to user accounts.
4. Merchant API: Coinbase provides a well documented API allowing online merchant to accept cryptocurrency on their website.

Cons:
1. It Not Available Globally: Coinbase is only available in a very limited amount of countries which spread across few continent.

Based on my research, Coinbase is a legit exchange, the only major disadvantage is that it's not available in most countries. If your country is also not supported, i recommeded you to checkout Luno which is quite similar to Coinbase but support a larger number of countries.

Do you have an account here? What's your experience?

 

[Yugocean]

$100 M settlement with New York financial authorities
Coinbase and Brian Armstrong are active again. Coinbase will pay $100 million to settle issue with NYDFS. Coinbase has also launched it's founder Brain Armstrong's story on Amazon Prime to gain public support.

 

[Yugocean]

More Layoff
According to new reports, Coinbase is going to layoff 20% of its current staff; this is its next step to cut costs and cover its losses. That would be 950 people the firm is going to fire.

 

[Yugocean]

Update

The bear market has hit Coinbase hard because Cryptos are down in the crypto market, and shares in the stock market, since it is a public company, its CEO Brian Armstrong cannot make changes as easily as Binance, now he is worried about the value of the shares.

 

[Yugocean]

Up Again
Coinbase stock has started to rally as the crypto market shows signs of recovery. The value of shares on coinbase has increased by 25% in the last five days alone, attracting investors. Prominent investor Cathy Wood's Arc Invest has also invested $1.45 million.

 

[Yugocean]

Coinbase Japan To Shut
Market conditions are still not in favour of Coinbase, so the company is closing its Japan unit. Japanese consumers have a deadline till 16 Feb to transfer their funds out of Coinbase.

 

[Yugocean]

$3.5 m fine levied by Duch Central Bank

Ofcousrse Coinbase is doing business in Netherlands, it is registered company, however like every exchange, it was providing it's service before it registered itself, this was enough for Dutch central bank.

 

[Yugocean]

XLM problem
Coinbase is having problems with XLM; some people are saying they haven't received XLM in their wallets even after their withdrawal was successful. Right now, people are advised not to transfer XLM from Coinbase.

 

[Yugocean]

SEC is restricting Staking

Yesterday CEO Armstrong warned people about a rumor that SEC is trying to stop staking service. Although people thought it was a rumor, but today SEC charged Kraken for selling unregistered security over Staking, so now everyone is talking about Coinbase.

 

[Yugocean]

Ready for Lawsuit against SEC
Coinbase is not going to stop its staking service for US customers. It is ready to take the matter in court and fight SEC. Coinbase's CLO Paul Grewal has already started preparing.

 

[Yugocean]

Q4 and FY'22 FR published
Q4 and FY'22 FR have been published by Coinbase, and people are finding only unsettling news. Bad customer service is one of the reasons its revenue is down; the company does not have much public support.

 

[Yugocean]

BUSD to be delisted

Since the SEC issued notice to Pexos on BUSD, this stablecoin is under pressure. Coinbase too is planning to delist BUSD from its platform. Although there is no official announcement yet, but news is already out.

 

[Yugocean]

Coinbase Acquires One River Digital
Coinbase has acquired One River Digital (ORD), which is a SEC-registered digital asset manager. It is not known how much Coinbase has paid for ORD. Ex-SEC chief Jay Clayton is the advisor to ORD, so this deal is suspicious among people.

 

[Yugocean]

SIlvergate matter, Obviousness on Overacting
Consumers have objected to Coinbase's decision regarding Silvergate, which has forced Coinbase to come clean again, this time the company is expressing regret for the Silvergate situation.

 

[Yugocean]

Corporate Cash at Signature Bank

Coinbase has acknowledged that it had a $240 million investment in Signature Bank and now expects to receive the full amount back through FDIC policy following the bank's closure.

Coinbase is also having problem with USDC.

 

[Yugocean]

To "Great White North"
Coinbase has started expanding and is now about to open its business in Canada. At present, it is also being said that, being in the SEC, America is focusing its attention on Canada.

 

[Yugocean]

Coinbase to Move out of US?
Coinbase CEO Brian Armstrong has begun preparations to settle the case against the SEC in court and has also made it clear that if the regulatory issue is not rectified, Coinbase will be forced to move out of the US.

 

[Yugocean]

Coinbase effect on the market

As soon as Coinbase CEO Brian Armstrong announced he would leave the US if things were not settled there, the market was alarmed. However, this crash isn't going to last because Coinbase has time to move anywhere.

 

[lamia5765]

can you help me please
i lost my bitcon address.
View attachment 261852

I think this policy is because of the last update of Coinbase itself that has reduced the number of supported countries so may I click receive address this will not work as saying it is not supported receives in my country and only send assets to another wallet. Or may you have committed VPN or proxy that lead to this? As I have received an email from them saying to disable my account and this is they reduce the number of supported countries.

 

[Yugocean]

can you help me please
i lost my bitcon address.
View attachment 261852

According to the info available, you have to contact their support. If you already emailed them and not received helpful reply, then use twitter m, and complaint them on their tweet, also tag Brian Armstrong.

 

[Yugocean]

Coinbase sues SEC

Fed up with the excesses of the SEC, Coinbase has sued the agency. The SEC did not clarify anything even before Republican lawmakers, and now it may have to explain its policies in court.