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RE: Politicians Can Be Bought; Cryptocurrency Is Money
Perhaps Coinbase did this to only serve their own interests.
I am going to go with this option as most likely. I am all for it though if it gets them to relax. I believe much of the hoops and crap we go through from the exchanges is them trying to tiptoe around the government out of fear of being squashed and maybe jailed. It will be curious to see if the politicians can act as a go between between their masters (the bankers) and the upstarts who would join them. Guessing since the bankers are getting in with the upcoming regulations that there will be a meeting of the minds after a a little fud to drive people to the upcoming monopoly Coinbase will be buying.
I'm not 100% sure about Coinbase's greed. They seem to be very particular about their actions. They refuse to do business with Ripple no matter how much free money gets thrown at them. They have a good referral system and they don't charge you anything to cash out to another platform. Also, they have 0% maker fees on trading... pretty solid.
I will admit most of my perception on Coinbase came from research at the beginning of the year. I read a lot of complaints about frozen accounts, not letting people withdraw money and demanding verification from accounts that had already verified, refusing all new verification's. The largest concern was reading the many reviews that said that months were going by with no response to help tickets.
Due to all of that, I held my breath as I used them as my conduit into crypto, quickly moving my coin to Binance where I had more faith in things being on the up and up. But I have to admit I had no issues the few times I used them, however, I have never tried to cash anything out through them.
Yeah I've never had a problem with Coinbase. They've always been awesome. I've dealt with a lot of poker sites that get the exact same kind of complaints. Usually when your money gets frozen it's because you were doing something strange... like buying in for $40,000 then trying to cash out for $50,000 the next week. Of course, the people complaining rarely ever tell you the shady thing they did to get their account flagged.
The simple truth is that crypto is becoming much more popular, and Coinbase is likely having major scaling issues. They aren't trying to steal people's money. They are just extremely overworked.
Binance is amazing as well. I would say it's the best centralized exchange in existence, but seeing as I can't turn my USD into crypto there yet Coinbase is my link to the outside world.