I’m usually a very positive person, but I’m really frustrated with Coinbase. I can’t go into details, but I have a very simple issue that takes literally 30 seconds for them to fix, but this issue is blocking me from accessing my account. They keep telling me “A specialist will contact you as soon as possible.” Weeks pass. . . .
Then today phone support says “We don’t have access to any account information. Only our specialists can see your account details. . . .” This is also preventing me from accessing my GDAX account because they’re both controlled by Coinbase. So as I lose thousands of dollars in lost crypto value. . . . I wait . . . and wait . . and wait. . . .
This is like dealing with a huge government bureaucracy! So today I’ve opened an account with Gemini and I intend to use them since they will probably be more responsive after their ID verification process is complete. But. . .
This whole ordeal is infuriating not only because I’m losing thousands from frozen crypto; it’s infuriating because the entire purpose of cryptocurrencies is to decentralize the financial system, but we are now getting the exact opposite: Hyper-centralization into two dominant companies (Coinbase and Gemini). I wouldn’t be surprised if at some point the government pressures Coinbase to make our lives so miserable that we just give up on trying to use cryptos. Of course I will never give up, but. . . .
It seems like the solution to this problem is to support as many decentralized exchanges as possible. I know Cardano is working toward that, which I love, but in the meantime, does anybody have any experience with Bisq? They used to be called Bitsquare, then they changed their name due to copyright violations. But their system and philosophy is exactly what we need right now: A decentralized marketplace for humans to buy/sell crypto without getting trapped by these centralized quasi-governmental bureaucratic monsters that gobble up our coins and fiat for weeks with no real accountability whatsoever.
And does anybody have any experience with LocalBitcoins? I’m still researching them, but their prices are high and I’ve heard some scary stories about people getting scammed.
And are there any other reliable ways to convert crusty old fiat to shiny new crypto that I haven’t described here?
Love, love, love Cardano. Please, liberate us from this centralized hell soon!