Coinbase discontinuing??

[ojsun]

I got an email saying that I should withdraw all the funds by Sep.
anyone got the same email?
why they close down?

 

[xReminisce]

A high possibility
https://www.cnbc.com/2023/07/05/pip...5percent-as-regulatory-uncertainty-looms.html

 

[bonzo90]

yea crypto is in a weird spot for the usa right now as most major exchanges got hit with some fines ect

 

[ojsun]

so which wallet you guys recommend?

 

[Thorr]

We don't know what's the content of the email you got from coinbase.

 

[paja93]

dont hold money on those types of wallets, at least use local desktop ones
exchanges like coinbase should only be used for purchasing crypto

 

[xReminisce]

so which wallet you guys recommend?

rule #1 of crypto is to never hold money in an exchanger's wallet
use a cold wallet if possible.

 

[ojsun]

rule #1 of crypto is to never hold money in an exchanger's wallet
use a cold wallet if possible.

Thanks a lot for kind reply!
I am not really familiar even though I got some coins.

so you mean I should not move from Coinbase to binance?
what's cold wallet? would appreciate if you elaborate a little bit more.

 

[KHer0]

Thanks a lot for kind reply!
I am not really familiar even though I got some coins.

so you mean I should not move from Coinbase to binance?
what's cold wallet? would appreciate if you elaborate a little bit more.

When you hold your crypto in an exchange, its bot your wallet. Its the exchange wallet. If the exchange goes down, you lose all your crypto. Which happened to me woth FTX for example.

Cold Wallets, Desktop Wallet and App wallets are your personal wallets. Where only you can access your crypto.

There are many like exodus and atomica. As for me I keep all my crypto which I haven't lost on Binance after my loss in FTX because I am too lazy to learn from my lessons

 

[xReminisce]

Thanks a lot for kind reply!
I am not really familiar even though I got some coins.
what's cold wallet? would appreciate if you elaborate a little bit more.

Pretty much what @KHer0 said, couldn't said it better.

so you mean I should not move from Coinbase to binance?

No, that's just as bad.

 

[duane2001]

Always use offline wallet. But coinbase not shutdown

 

[Nyprox]

Always transfer your funds to a cold wallet..

 

[superaff1984]

Always use offline wallet. But coinbase not shutdown

What offline wallet do you use for Monero?

 

[jonathan101]

Use cold wallet mate

 

[Exxtra]

I got an email saying that I should withdraw all the funds by Sep.
anyone got the same email?
why they close down?

Is it a legit email or is it phishing? Coinbase probably won't shut down but they will eventually make it very difficult to exchange crypto for notes sometime in the future. Of course, it is entirely possible they'll just disappear one day but that is why you keep your crypto locally in a private wallet and only transfer when you want to exchange.

 

[DavidG1510]

Interesting. Where are you located?

 

[Ectophor]

There are many like exodus and atomica. As for me I keep all my crypto which I haven't lost on Binance after my loss in FTX because I am too lazy to learn from my lessons

Well, Binance is still a safe place to store your crypto.

 

[DevMask]

I got an email saying that I should withdraw all the funds by Sep.
anyone got the same email?
why they close down?

There is absolutely no news about the Coinbase shutdown.

Coinbase is a publicly traded company, there would be absolute mayhem in Crypto if such news were to come out.

This might be a spam email, so please avoid clicking on any links in the email or transferring your coins to any unknown address.

 

[Nothingtosay]

Yes got the same mail

 

[olivier]

I hope they do get shut down.
They banned my legitimate account for no reason