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Comment by BelenusMordred | Hacker News Reader

Some of the comments in this are great:

> Transferring bitcoin funds is already easy with the GUI. Sure a wrapper around it might make it slightly more user friendly but it's trivially easy to implement. Not to mention the fact that Bitcoin is illegal in most developed countries.

> I don't think alternative currencies have a long-term future. The only reason they exist now is because people and governments in most countries are quite ignorant about technology. Once they become more widely used, they will start causing a whole lot of problems* and will be banned by governments.

> Did you invest in Bitcoin when it was $21, and want to bring that price back up?

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Versions of the same comments could be made even today. It's a great company with a bright future, and their own cut of the pie is guaranteed, but there are excellent exchanges outside US

I live outside the US and still use Coinbase because they have created an image of trust, and so far they deliver on that.

Personally i don't care if they're not the cheapest as long as they don't screw me when i need them the most.

Exactly, Coinbase actually seems to give a shit about the customer relationship, something which is virtually nonexistent in the crypto space.

Case in point: for a long time they covered all network fees when withdrawing from Coinbase Pro, while most exchanges charged a flat rate which inevitably was abused as a profit source.

Coinbase will one day become a crypto bank, but right now the role of exchanges is minimal, on/offramps and being the wallet for a lot of people. I don't think they re much different than binance. They re more trusted because as an american company they are considered more protected, but that's not something they achieved, it's afforded to them by the fact that they're american.

The reason i trust them is the people, the work and not the location.

Coinbase is backed by respected investors, the founder is well known and they seem to be in for the long run.

Security wise, they have implemented many counter measures to prevent funds being stolen and so far i haven't heard of any breaches.

They can handle large sums of money with no issues.

So to sum up, they don't do sloppy work and the founder won't mysteriously disappear with the funds.

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