June 13, 2017-
I know Mike Adams over at Natural News isn't a fan of crypto currencies but this is a prime example of why. Now it might be hype in his headline of Coinbase stealing bitcoin from people but people in Wyoming are locked out of their accounts and can't get access to move their bitcoins at the moment. The statement by Coinbase says they are hoping to work out an agreement soon, again why can't these people access their accounts so they can move them or cash out however it works with these exchanges. Me personally I set up an account with them but I haven't bought anything at the moment. Looking at the reviews I seriously doubt I will at this time. So with that I know a few of you out there are following all these different crypto currencies but what is the safest way to store bitcoin or any others? What are the good online wallet sites? What do you recommend for an offline wallet? Its stories like these that make you wonder what is going on?
Tbg1972
Oh man . . that's got to be giving many people some massive anxiety. I don't think that Coinbase would actually steal anyone's crypto . . . but, it is best to take precautions. Moving amounts to a hardware wallet is probably the best thing someone could do to prevent this sort of thing from happening.
Some other wallets are good too, basically any that give you ultimate control over your coins, namely . . your private keys.
I don't have any doubts that the accounts will be reactivated soon. And if I were one of the people affected, I would immediately move my coins from Coinbase to a more secure and safe place.
https://www.amazon.com/Ledger-Nano-Cryptocurrency-hardware-wallet/dp/B01J66NF46
https://trezor.io/
I don't see how a state could lock people out of Coinbase or any other wallet sites?
It appears that his article is citing something that happened last year. This isn't something new. Check it out. From June 24 . . of last year.
https://support.coinbase.com/customer/portal/articles/1999937-coinbase-accounts---wyoming
Great catch! Excellent.
:)
Electrum seems to work well for an offline wallet.
Thank you I will check them out.
Mr. Adams needs to stick to his expertise. Food and Nutrition. I did not know he is now a financial adviser. These are regulatory/ state issues which have nothing to do with the actual design and function of BTC technology.
I agree the headlines ect are over the top but wouldn't just be easier to let these people cash out?
yes it would. Thanks for the post!
You're welcome. Steem on!
Ive personally used coinbase before and never had a problem. If you are keen on the idea of being locked out of your account you can get a second wallet to store the coin you purchase off coinbase
I am totally new to all of this I still learning how it all works. I don't want to blindly start investing in something I know nothing about.