Subnostr

Coinbase is a pure scam.

So here is the story. Last month I tried to pay nostr:npub1r0rs5q2gk0e3dk3nlc7gnu378ec6cnlenqp8a3cjhyzu6f8k5sgs4sq9ac for his design. I never owned any bitcoins before so that I need a way to buy some bitcoins. I opened a Coinbase account and put some money in it. Then I have to transfer this money to Coinbase wallet so I paid roughly 5 USD fee. Then I want to buy bitcoins but then it’s KYC so I can’t. Then I wanted to withdraw my fund. Paid another fee. Why Coinbase doesn’t pop up the KYC before I add money to it?

I spent 10USD for nothing. Pure scam. I did find another way to pay nostr:npub1r0rs5q2gk0e3dk3nlc7gnu378ec6cnlenqp8a3cjhyzu6f8k5sgs4sq9ac but it’s a different story.

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Discussion

HoloKat 2y ago

Typical product design - save the difficult steps for later.

Tony 2y ago

You’re too kind to them

HoloKat 2y ago

I can dislike them but that doesn’t change the likely reason why they did it that way

Tony 2y ago

Agree, but they could say “you’ll be obligated to pass the KYC later on” if they wanted to do the “user-friendly onboarding” the right way.

HoloKat 2y ago

Yes.

Tony 2y ago

It’s called shotgun KYC and your story is exactly the reason why they do it. They milk people for a few bucks here and there, and hope that most of them will value a few bucks and some time spent on opening the account higher than their privacy.

Avoid the creep!

This resource by nostr:npub15c88nc8d44gsp4658dnfu5fahswzzu8gaxm5lkuwjud068swdqfspxssvx is a must-read for everyone!

https://bitcoinqna.github.io/noKYConly/

Water Blower 2y ago

Their behavior should be illegal

verbiricha 2y ago

Bitcoin is p2p digital cash. You can buy or sell in p2p marketplaces like Robosats or HodlHodl. No personal information, no abusive fees, no need to ask for permission.

nostr:nevent1qqsqpuw0mtj6jgrtwpghn3xkxmf0uueg552cfj64te8yzt9h0dlxxqqpzdmhxue69uhhyetvv9ukzcnvv5hx7un8qgsxh8dfyrztdm9l9sfqrzn6952rkn0alxrccwl2c60rnw6e0pqucmsrqsqqqqqpm3g6w9

CensorThis 2y ago

Coin base doesn’t care about your 5 dollars.