Coinbase & Atomic Wallet Collusion

Coinbase & Atomic Wallet Collusion

By Joshwillmakeit | Before You Bit | 22 Feb 2021


Coinbase, I'm sure any experienced trader uses only when necessary due to fees and overall incompetence of the exchange. Basically the Macbook of exchanges, hergo overly simplified to the extent of almost being insulting. That said, the focus here is on their carrying of the Band Protocol ERC20 token(The virtual paperweight). Essentially that token only has value within the coinbase ecosystem. Almost no wallets or exchanges recognize it or will swap it. In steps Atomic wallet claiming to not only support ERC20 tokens but also to allow 17% staking of Band Protocol(Mainnet, which is mentioned nowhere). I think you can see where I'm going here. Yes, I bought hundreds of dollars of Band ERC20 from Coinbase, sent it to my Atomic Wallet for a nominal fee(less than 1%) only to find out that not only is this not the BAND their staking but by support they mean you can send it to their wallet and watch it. Like literally can't swap it or send it. Why not send it you ask. Well my luck continues as the price of gas shot up overnight and not only has the price fluctuated from costing my entire amount of band in Eth to half and Atomic requires Eth be there, it will not convert from the currency being sent. So long story long, I bought the band at an inopportune time($19.50) with the intent of staking but Instead have just watched the price dip to $15 in the last two days. Needless to say I deleted my coinbase account and the minute I can move all my staked funds off Atomic they will get the same treatment.

Spare Yourself My Pain

How do you rate this article?


12

1


Before You Bit
Before You Bit

Reviews of exchanges and wallets so I can get bent over so you don't have to.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.