Earlier quoted context omitted.
Ah, an institutionalized investor.
But obviously recently escaped from the institution, if he is on the omnibus...
Escaped the regulatory framework.
Coinbase warns that bankruptcy could wipe out user funds
471–473 of 473 posts
Re: Coinbase warns that bankruptcy could wipe out user funds
#472Earlier quoted context omitted.
What i don't understand is why don't people create their own wallet and keep their funds there? Isn't that the entire purpose? Of course they could still use coinbase as an exchange. But if everyone let's another party "manage" their wallet in what way is it really decentralized...
You can 100% create and manage your own wallets on your own hardware. However, most exchanges have transfer fees, on top of whatever costs are incurred on the network by the transfer. And, if you want to sell on an exchange, you likely need to transfer the tokens into the exchange wallet anyways. If someone is buying crypto to hold it for years, then wallets and hardware keys and 12-word passphrases make the most sen…
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Re: Coinbase warns that bankruptcy could wipe out user funds
#473Coinbase is the AOL of crypto.
Is there a better crypto on ramp though? Coinbase will let me transfer up to $1000 worth of crypto off their platform immediately after purchase even though the funds haven't settled in their account yet. Every other crypto platform I've used, forces a wait of 3, 7 or 10 days before you can withdraw your new crypto.
You're correct. Coinbase definitely made it easier for people looking for a quick way to onboard fiat and to join the crypto ecosystem, just like AOL made it easy for people to access the internet back in the 90s.