Sirwin
Sirwin

It’s Not a Bug, Your Bitcoin Balance on Coinbase Is Worth ZERO Dollars.

By ssaurel | In Bitcoin We Trust | 12 Mar 2024


Coinbase is the most widely used cryptocurrency exchange platform in America. And by far!

Whether you like Coinbase or not, Coinbase is a key player in the Bitcoin world.

When an American buys Bitcoin for the first time, he or she is likely to do so by creating an account on Coinbase.

Coinbase was founded by Brian Armstrong in June 2012 and has weathered all the storms that have sunk many of the major players in the cryptocurrency world at one time or another.

Coinbase is a publicly listed company, which obliges Coinbase to be more serious with regulators. Coinbase therefore has guarantees of seriousness that other exchanges don't have, rightly or wrongly. But that's how it's perceived by the general public.

Coinbase has further strengthened its position in the sector by joining forces with the majority of Wall Street giants who launched their Bitcoin Spot ETFs at the beginning of 2024. Coinbase secures over 90% of all Bitcoins held by these Wall Street giants. Only Fidelity has made the right choice, deciding to use its self-custody solution.

Coinbase can hardly be described as a small exchange without the means to match its ambitions.

Coinbase has what it takes to ensure continuity of service, enabling users to act as they wish even when euphoria grips the Bitcoin and cryptocurrency markets.

However, for years now, Coinbase has been experiencing major computer bugs every time the price of Bitcoin has risen spectacularly, interrupting the upward trend.

Each time, the same message from Coinbase explains that the platform is saturated due to the massive influx of users. Some even predict a Mt. Gox-style fate for Coinbase in the future. It seems hard to imagine, but who knows, Coinbase seems so overwhelmed by what's in store for Bitcoin in the future.

Lately, Coinbase has been giving users passing through its platform the cold sweats by suddenly displaying a portfolio at ZERO dollars.

Coinbase apologizes every time, and the general public who uses Coinbase seems reassured without even learning the lesson it represents.

Yet it seems to me that the lesson is obvious:

If you keep your Bitcoin on Coinbase or any other exchange platform, you own nothing. Your balance is really at ZERO.

 

You trust a third party like Coinbase to secure the fruits of your labor, but at any moment Coinbase can tell you that the platform has been hacked and you have nothing.

You're at ZERO.

So how can you be sure of how much BTC you have? It's obvious: take possession of your Bitcoin's private keys by withdrawing your Bitcoin from Coinbase and other exchange platforms.

Bitcoin is a long-term revolution. You have no interest in letting a third party secure your Bitcoin. Take possession of your Bitcoin, and you'll never again have that feeling of dread when you see a scale reading ZERO on Coinbase or elsewhere.

Bitcoin gives you everything you need to take complete power, but you have to make the effort to take that power. The first step is to secure the fruits of your labor yourself.

This famous meme will help you remember: Not your Keys, Not your Bitcoin.


Donald Trump Bullish on Bitcoin? Be Careful and Learn To Read Between the Lines!

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Donald Trump or Joe Biden will do nothing for Bitcoin. The only vote that matters is the Bitcoin vote.

Link: https://inbitcoinwetrust.substack.com/p/donald-trump-bullish-on-bitcoin-be


Need further proof that we're still in the early stages of the Bitcoin revolution?

In France, BFM Business is a TV channel that would like to present itself as a reference for the economy, the stock market, the financial markets, (and now Bitcoin ?!?) ...

Listen to the French TV host tell you what's in store for Bitcoin with its fourth Halving ...

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Watch the video here: https://www.tiktok.com/@sylvain.saurel/video/7345366145010044193

If you don't understand French, I'll help you.

The journalist says that the Bitcoin Halving is the halving of the Bitcoin price to stimulate demand.

One reaction: LOL.

A second reaction: it just goes to show you how much credence you can give to the so-called journalists we see giving their so-called expertise on TV all the time.

Don't Trust, Verify.

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ssaurel
ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.


In Bitcoin We Trust
In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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