Mishaboar is a reputable Dogecoin developer who has highlighted the potential security issues that come with linking the Coinbase Wallet to a Coinbase account. Linking the two platforms poses compliance concerns, as it results in the exchange of accounts, billion wallet addresses and transaction history.
Coinbase captures a large amount of consumer data, from username and transaction history to records of funds incoming and outgoing, to name a few, as they disclose in their Terms of Service. Such data will be readily available for authorities to investigate any unlawful activities.
The debate gets more heated when considering Coinbase’s L2 network Base to be very centralized and largely relying on venture capital-backed tokens.Although lots of people favour convenience over privacy, Mishaboar focuses more on data protection.
This is in line to what others crypto enthusiasts imagine, a world of decentralization and freedom from the interference of middlemen who had for long imposed rules on trading.The service review of coinbase suggests participants to study their Terms of service and Privacy policy before using the coinbase wallet.
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