Let's start with some good news, there are learning rewards available :
For VARA and VET, I do not plan to do them entirely because we have to download wallets and do other things and I am not particularly interested.
So I only did the first lesson for $2 or $3.
I made them 5 or 6 days ago and at that time there was even $3 in AKT :
I sent this small reward in AKT to my Keplr wallet.
And for “Explore COINBASE One”, it’s just to highlight their subscription :
I am going to skip this "learning rewards".
I am not interested in this subscription at all.
It's true that the fees on Coinbase are high.
These fees are quite similar to the ones we would encounter when buying shares in a securities account.
If it was just this one flaw, it would be fine...
But lately I had tried to deposit FIAT money on Coinbase without success :
I had tried 4 or 5 times in recent months...
But Coinbase returned my transfers.
However last year, I had no problem and of course my Coinbase account is fully verified :
I made 8 Deposits in Euro through the same bank.
And I doubt that the problem comes from my bank because I deposit every month on CRYPTO.COM to use the Visa Card and benefit from CRO cashback for my daily purchases.
So, we come to another problem on Coinbase : almost non-existent customer support...
As a result, I reduced my exposure to Coinbase :
I did not withdraw all my cryptos on Coinbase, I do not think there is any risk.
It's just that I can't deposit FIAT anymore and most likely if I wanted to convert cryptos to FIAT and withdraw them from Coinbase I wouldn't be able to.
Furthermore, I know Coinbase doesn't have a Token, but they could still implement the possibility of converting crypto dust into USDC.
For example, I had sent my ATOM and ADA to another wallet. I chose to send everything (MAX), but there are still some crypto dust left :
And I did a test with the KAVA that I got while doing a “Learning Reward”.
I tried to send these KAVA directly from Coinbase to Binance.
As a MEMO is required for this crypto when sending to a CEX, I entered the MEMO in the only place Coinbase provided :
Result : approximately 3 KAVA lost...
Lesson learned : it is better to send the cryptos we have on Coinbase to a non-custodial wallet.
I did not withdraw all my cryptos from Coinbase because I can still Trade or withdraw them later.
I do not understand why I can no longer make a FIAT deposit on Coinbase, even though I am doing the same procedure as my 8 deposits last year.
The only impression it gives me is : we are busy creating hype for BASE and our institutional clients.
The others, poor little retailers, go and **** ...
We could expect better from Coinbase which is listed on NASDAQ.
By the way, I have Coinbase shares :
To conclude, Coinbase has a lot of progress to do to improve the user experience on their platform...
I hope this feedback on Coinbase will be helpful to you.
This is not investment advice.
And the possibility that I'm wrong is also to be taken into account.
The crypto market is young, volatility is high.
Do your own research and measure the risks before making a decision.
Thanks for reading my post and happy Earnings :)
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