Originally Posted by tuffy12345
aaaaand clevermining is tanking...where do I/we go from here?
EDIT: How much does everyone trust coinbase? It seems like they want an awful lot of information to transfer BTC to USD. Couldn't they just use paypal? I really don't feel comfortable giving them all my banking info.
Coinbase is fine. You can set up your account to use 2-step authentication (recommended) so when you try to login to the site, you have to enter the confirmation code that's sent to your cell.
Secondly, when verifying your bank account, there're two options. One is to give them all of your info giving them instant access for purchases and sales. That's good for day traders, but risky...though you could just change your password after each buy or sale.
The second option is to JUST give them your banks routing number and your account number. This is as anonymous as it gets and fairly common practice around the world. They don't need your name, address, DOB, SSN, or anything like that. So all they can do is just deposit money into the account. As far as coinbase knows, name is lacrossewacker.....
So if coinbase is ever hacked, or they go rogue, big whoop, they don't know who I am so they're unable to commit any sort or identity theft...unless they plan on writing out a check using my routing/account numbers and signing my name "lacrossewacker"