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Coinbase admits it overcharged a large number of users multiple times due to a bug in their system and are currently working on a fix. 1000 worth of BTC per week for verified credit card holders. A wide variety of fiat deposit and withdrawal options. A debit card from Shift Payments linked to your Coinbase balance.

Online and mobile wallet services, with multi-signature security option to prevent unauthorised movement of funds. Coinbase is often recommended to newcomers as one of the easiest ways to acquire their first bitcoins. The company has invested a lot of time and money into making their user experience smooth and painless. For these and similar reasons, Coinbase has experienced rapid growth since its founding in mid-2012 by Brian Armstrong and Fred Ehrsam. If Coinbase is so successful, why does it have such a bad rep? It’s no secret that Coinbase attracts a lot of animosity, if not outright hostility.

Now, a lot of people love Bitcoin for offering sanctuary from the grand and petty tyrannies of the banks and corporate payment services. In short, Coinbase is punished for often behaving like the most sinister of banks. However, Coinbase has also pulled its share of questionable moves over its lifetime. Forcible account closures are probably the most commonly held grudge against Coinbase.

Due to the company’s tight integration with traditional banking laws, such closures are inevitable. Coinbase prides itself on its legislative compliance. Coinbase was first to receive US regulatory approval. You’ll have to provide a lot of personally-identifying information if you wish to avail yourself of Coinbase’s service. Many Bitcoiners value privacy and object to such invasive measures. The biggest money launderers have banking licenses.