Alternatives to Coinbase Wallets (Part 2)

Alternatives to Coinbase Wallets (Part 2)

By rah | rah | 28 Aug 2020


Yesterday I explored some of the shortcomings of using Coinbase and admitted to a mistake I made in the first instance by diving in with them straightaway. If you have a Coinbase wallet and wish to persist with them I recommend that you read my article on how to avoid and minimise the traps that Coinbase set for you. What finally drove me to this point was when I received some very helpful comments on my post (thank you to those who contributed) on staking rewards and how Coinbase compares.

Read more about Coinbase Traps

Moving on beyond that it is clear that there is a plethora of alternative wallet services that are out there on the market and I realised almost immediately that it is really hard to choose as they all seem to have certain limitations. It is not the purpose of this article to review the different services, rather to open a dialogue in the comments section so people can share their own experiences and as a community we can weigh up from an informed view which one(s) the best. Of course this is a subjective definition as we may be looking for different things and frankly I am not in a postion to provide a detailed review and my integrity demands.

One of the big limitations for Publish0x bloggers is that few wallets seem to carry Loopring. Which brings us neatly to Atomic Wallet, which is emblazoned all over Publish0x as their recommended wallet. I have looked at it briefly and I am concerned about security as I have read a number of reviews in which users have reported that their crypto has just disappeared. Secondly (and I could be wrong here) it seemed that when I read it appears that when they say they don’t charge fees and profit on margins it seemed that there was a flat fee per transaction which works out as quite expensive if you have a modest portfolio.

Probably the next one to review would be Upload which works hand in hand with Brave Browser and BAT rewards. And now as promised yesterday I will confess to my second mistake. I tried to open an Upload Wallet a few weeks ago, but because I was on holiday I didn’t have my ID with me and used a photo of my ID as a form of verification – then nothing happened as they said they were reviewing in a banner across my Uphold dashboard (no email asking for clarification or verification). After three weeks I emailed them and told them what I had done and why I had done it and they immediately banned me.

One strike and you are out!

This frankly is stupid because all they needed to realise was that even if I hadn’t followed the correct procedure for proof of ID then all they needed to do was ask me to do it again properly and what is more if what I send now didn’t match what I had sent (wrongly!) previously then clearly there was something dodgy going on.

I switched to Brave about two months ago and have never managed to get it working properly anyway despite checking and rechecking my settings and looking for online advice – so it is no great loss.

Seems that the team behind Brave don’t like me… end of story.

Through comments I have become familiar with Celsius Network and while I am still exploring this seems to be a great place to HODL, but I haven’t researched it far enough to see even if it can work as an exchange. I am seriously interested in their HODLing potential though.

I don’t know anything about Binance but I have an overall impression although their fees are very low there may be some trust and security issues and the same with OKEX. I am happy to be proven wrong here – hence my desire to open a dialogue through this post.

Finally for today I would like to turn my attention to Trust Wallet which is well reviewed and user friendly. Fees are based on a per transaction (gas) basis and while they are transparent in their answer to any questions they are also non-specific although they do provide some helpful calculators.

Please bear in mind the review I have referred to and additional information about Trust Wallet fees has come from their own community and it may be biased but it seems to be fair.

However, it has left me with a serious impression and I am considering them as a serious contender as a replacement or alternative to Coinbase.

Obviously I haven’t even mentioned all of the wallets out there nor have I aimed to provide an in depth review (I am not suitably qualified to do this anyway), but I just want to get the ball rolling and let you know my current thinking and I would appreciate if others share their views so we can live and learn together.

Many thanks. Have a great day and a wonderful weekend.

 


rah
rah

I love reading and technology as well as history. I teach English and Business to professional clients as well as soft skills with a focus on communications. I am a big fan of both Sheffield Wednesday and Lincoln City Football clubs


rah
rah

Experienced Business Owner and Coach and Tutor who now trades in Crypto. It is proving to be an interesting journey with so much technical language involved. Follow me as I learn the trade (and how to trade). Made some howling mistakes to begin with, but still learning and will share what I learn as I learn it for the benefit of the community. - RAH

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