Coinbase Account Restrictions Spark Self-Custody Debate
Coinbase Account Restrictions Spark Self-Custody Debate
đź”’ Coinbase Users Left Hanging
Coinbase has implemented widespread account restrictions, citing user protection amid increased fraud following recent Bitcoin price movements. The action has affected numerous legitimate users, triggering significant community backlash.
Key points:
- Hundreds of users report locked accounts and restricted access to funds
- Coinbase claims measures are to protect users from fraud
- Incident highlights risks of centralized exchanges vs self-custody
The situation reinforces the importance of decentralized alternatives:
- DEXs like Uniswap saw major growth in 2021 due to self-custody benefits
- Sports betting platforms like SX offer direct wallet-to-wallet transactions
- Self-custodial solutions prevent arbitrary account restrictions
Remember: Not your keys, not your crypto.
1/ What would YOU do if your 6-figure crypto portfolio was locked indefinitely? Coinbase has been facing major backlash and FUD over the last 24 hours after they restricted a massive number of accounts 🚨 x.com/CoinbaseSuppor…
1/ There’s a lot of FUD/misinformation out there about Coinbase restricting accounts.
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