I've used Coinbase since WAY back in 2015. Always thought they had a good service! Unfortunately, They started with the KYC compliance.
(Not my first BTC purchase, but my first from Coinbase)
I was really disappointed in them when they chose to comply. It made them seem unprincipled. Coinbase IS a business however, and, even though in my opinion it was the wrong decision, I could understand, from a business owner's prospective, how that could be a hard decision to make. I lost some respect for them that day though, and became more hesitant to use their service.
Now, it seems like they are actively "siding with the enemy", so to speak. According to this Decrypt article, Coinbase has signed a 1.36 million dollar contract with ICE (The U.S.'s Immigration and Customs Enforcement). They also, apparently, have been marketing analytic tools to the secret service and the IRS!
They have obviously lost sight of the spirit Bitcoin and other cryptocurrencies were created in. I feel I have a moral obligation to withdraw my support and patronage to any service that take actions antithetical to the original purpose. That's why after 6 years, and many transactions, I decided to delete my Coinbase account, just like I did Binance. (Would have sooner if I had caught the news earlier)
If you're new to crypto, or you've been here a long time and have just forgot, understand this.
"Number go up" is a small fraction of the game we're playing here. That's a good thing, but not if it costs us what we've been fighting for. Privacy, resistance to censorship, financial independence and freedom.
Regulation of crypto is ALWAYS a bad thing. This space has thrived not precisely because of the absence of our respective governments. Granted, the more they try, the more we innovate around them, but regulators / law enforcement / law makers should be viewed as the parasites they are, and under NO CIRCUMSTANCES invited in. A free market regulates itself.
Anyway, Now I'm in the market for a new exchange where I can get in and out of fiat, if need be. Any recommendations? @ausbitbank? You're the privacy guru. Have a favorite exchange?
Thanks for checking out this post!