@OldBastard
Screw You, Coinbase! As y'all may be aware, I've invested $2,300 USD into various cryptos on Coinbase which I am simply sitting on, in an effort to show that to make money in crypto, HODLing alone will work. * In recent weeks, as the crypto markets were taking a beating, my investment was down in value, showing a $500 decline most recently. However, now that crypto is becoming "cool" again, and starting to show its strength, I thought I would hop on Coinbase and check out what my account was worth now. Ha, ha ..... jokes on me! Look at the first pic. I should know better than to think that I could simply logon to MY account whenever I wanted. After all, this is a Coinbase account! Multiple attempts to access my account resulted in the same stupid error. I am currently residing in the Philippines. Maybe my current location is troubling to the Lords of Coinbase? Who knows, but once I accessed their site via a VPN, (masking my address as being somewhere in the USA), I was able to logon with no troubles. Stupid Coinbase! ** Anyway, back to what I originally wanted to write about, before Coinbase decided to be a prick: how the heck are my investments doing after about two months? If you look at the second pic, you'll see the top four coins at the moment: DASH, BTC, BCH (Hooray!), and Tezos (XTC). These guys are all generating a positive return. They are followed by the next four coins, LTC, Cardanao (ADA), Stella (XLM), and DOT, who are all close to breaking even. *** The final pic shows a mediocre SOL, followed by the two cruddy, (at the moment), coins, ALGO and ATOM. This is followed by the best performing coin of all, which it pains me to admit is ETH. (I dislike Ethereum so much I only put $100 into it.) What are the morals we can glean from this story? 1. While two months is way too short a time to demonstrate that HODLing is a successful strategy, it is already beginning to show okay results. 2. Be VERY CAREFUL storing your crypto on Coinbase, as they are notorious for cutting off access to your account for ..... well, "reasons". In the near future, I need to research DEXs where I can store my crypto, (e.g., THORWallet), where I can get great returns AND access to my coins whenever I want. I guess I also need to finally get off my butt and figure out how to buy crypto via BISQ, ( https://bisq.network/ ). Coinbase has been easy and convenient, but their negatives are now beginning to outweigh their positives, at least for me. ============================================================ * For the morbidly curious! An overview of my investing strategy is here: https://noise.cash/post/1w889v4j . An overview of my Coinbase HODLing strategy, when the crypto markets were down: https://noise.cash/post/1xgg5wzr . ** Because of stupid Coinbase tricks like this, I'm concerned about being permanently locked out of my account. Which is why I probably won't leave all of my investments in Coinbase until the end of the year. I need to start researching better places to move my coins to. The stupid US Government forced BlockFi to shut off US citizens, so that is no longer an option. I am making a killing, ($400 invested a little over 10 days ago is now showing as worth over $500), on the THORWallet app, but these "profits" are just virtual numbers at the time being. Until I actually successfully withdraw these coins, I won't fully trust this app. But damn ...... what a fantastic rate of return!! *** Note that some of the coins, (XTZ, ADA, ALGO, and ATOM), pay a yearly interest, although ALGO's is so pitifully low it is barely worth mentioning.
15 comments
Even in the Philippines coinbase running softly. I think there are problems in your account you shour try emailing the coinbase. Anyway mostly of funds are held in trustwallet and fortunately i didn't encounter same problems as yours. Hoping your assets will come back to normal.
Trustwallet and other noncustodial wallets are a better choice than Coinbase. Just be careful that your cellphone doesn't get hacked! I was able to get around this using a VPN, so I'm not sure what the problem was. It's just a cautionary tale about storing crypto on a CEX.
Yes aslong your pass phrases in trustwallet is secure theres no problem will occurred. Anyway i hope you will fix your problem regarding in your coinbase
A VPN solved THIS problem in Coinbase, but I wonder what "problems" they'll come up with in the future. This is the problem with putting your crypto on a CEX. Technically it is no longer "your" crypto.
Do you think they have a unnotice maintenance or what? You try transfering yiur assets in different coinbase account or other centralised wallet.
I have no idea what was going on. I'm just glad using a VPN got around the problem, at least this time.
So did you fix the issue already using VPN?
Yep. After trying multiple times to logon normally with no success, once I got the VPN set up I was able to logon on the first try.
Congratulations. I'm glad you fix your coinbase already. So the problem is on your IP location
I think so.
I'm also a HODLer. Didn't bother with Coinbase. I'm using Coins.ph. You might want to check it out but their available cryptocurrencies are limited.
Yes, I also have a Coins.PH wallet. I've liked them so far, although some folks were saying that they were starting to implement similar stupid things that Coinbase has done. I hope that isn't true, because I also set up a Coins.PH account for my wife's mama.
Haven't encountered anything yet with them and I hope I do not encounter such a thing.
Holy this ghost operation of them. 😠 They other day, I use my wallet for QR code tip. Amount has deducted but my tip didn't reflect on post😠 Since last year, I experienced this 3x I think 🤔 I don't know where did my tips go?
Odd ..... that just happened to me for the first time yesterday. What I tend to do is only work on Noise.cash while I still have free tips. Once the free tips are gone, I log off. Some days I'm only logged on for about 10 minutes! :-)