The fall of Coinbase - where to move my funds?

[TRT37BEEF]

It looks like Coinbase is on its way to failing soon. They just laid of 18% of their workforce and will likely be doing more in the near future.

I am worried they will lock my funds up or it will just disappear (even if it is quickly falling to worthless) like Celsius. Does someone have a recommendation on moving my funds with a 'how-to' perhaps?

 

[Scaryclownz]

This has me very concerned as well. Any help or feedback would be greatly appreciated.

 

[FrancoC]

I always strongly recommend having a cold wallet because of the potential risks associated with keeping crypto on a trading site. I have a trezor but there are a few out there.

 

[JDLift]

Well simply put, you never want to leave money in Coinbase's hands anyway. Those cunts are in bed with the IRS and Gov't. If you can't find ANY other exchange site then fine, but there are better alternatives. If you absolutely must use CB then immediately move all funds off site. Do not leave it in their hands.

As for crypto in general, this is just another dip among all the other dips. Fear mongering incites panic selling and that's all that is really happening here. Ignore it, play the market the way you would during any other dip and wait for it to bottom out to buy back in. Crypto ain't going anywhere, it's just having a hiccup.

 

[TRT37BEEF]

Well simply put, you never want to leave money in Coinbase's hands anyway. Those cunts are in bed with the IRS and Gov't. If you can't find ANY other exchange site then fine, but there are better alternatives. If you absolutely must use CB then immediately move all funds off site. Do not leave it in their hands.

As for crypto in general, this is just another dip among all the other dips. Fear mongering incites panic selling and that's all that is really happening here. Ignore it, play the market the way you would during any other dip and wait for it to bottom out to buy back in. Crypto ain't going anywhere, it's just having a hiccup.

I'm not selling - if anything I am buying more. I just need to make sure that what I am buying is actually mine and not some leverage that Coinbase is using for themselves.

What do you use?

 

[Bluesec]

@TRT37BEEF Do you not currently use a software wallet?

 

[TRT37BEEF]

@TRT37BEEF Do you not currently use a software wallet?

I guess not? I never set anything up other than signing up for Coinbase.

 

[Bluesec]

@TRT37BEEF Okay, well whenever using any place like coinbase, unless you're getting investment incentives for holding your money there, you really need to move it off onto a software wallet. I personally use Exodus. Having a software wallet gives you complete control of your funds and youre not beholden to the rules of places like coinbase that won't release your BTC unless certain conditions are met, have a cap of how much you can send out, etc.

You can do some research on these by searching for crypto wallet applications. I love exodus because it's easy, free, has a lot of features to prevent sending to incorrect addresses and other cool features. The thing you need to be aware of is that with a software wallet if you lose your password the only way to get back into it and see your funds is by writing down a key they give you which is usually a random set of words in a particular order. So if using exodus it will tell you to set this up...you'll want to write it down and store it in a safe or something like that should you ever forget your password because there is no "password reset" feature that most are used to that will email you a link to complete this process. Hope this helps.

 

[BINGBONG]

@TRT37BEEF I agree to move ur crypto to seperate wallets off the exchange 100%.

IMO, all those articles are driven by government to scare people out of crypto. They don't want u to be investing in it. They are aiding in the crash by spreading fear so they can all buy in on the cheap.

The CEO of CB even said they are not going bankrupt but the SEC made them release info stating IF they did that customers will lose their investments, but claimed they are not infact going bankrupt. This is all scare tactics and it works very well.

 

[TRT37BEEF]

@TRT37BEEF I agree to move ur crypto to seperate wallets off the exchange 100%.

IMO, all those articles are driven by government to scare people out of crypto. They don't want u to be investing in it. They are aiding in the crash by spreading fear so they can all buy in on the cheap.

The CEO of CB even said they are not going bankrupt but the SEC made them release info stating IF they did that customers will lose their investments, but claimed they are not infact going bankrupt. This is all scare tactics and it works very well.

I'm still throwing money into crypto, hopefully it works out.

 

[Middleage]

Never used them much, BUT... They recently cancelled my account for no reason. I only had a few bucks there, which they told me to spend using the card.
When I questioned, they emailed me citing terms that said they can terminate anytime for no reason. Was really strange. Still I have no clue why?

 

[Liska]

@TRT37BEEF I love exodus

How to tell someone doesn't use Monero.

As for exchanges, Kraken is best for so many reasons.

 

[superawesomename]

@TRT37BEEF So if using exodus it will tell you to set this up...you'll want to write it down and store it in a safe or something like that should you ever forget your password because there is no "password reset" feature that most are used to that will email you a link to complete this process. Hope this helps.

I get around this by simply forgetting my password each time and creating an endless loop of emails and wallets with which to further confuse myself later.