Dogecoin Dev Raises Privacy Concerns with Coinbase Wallet

Mishaboar is a well-known Dogecoin developer who has pointed out the possible security problems that can happen when linking the Coinbase Wallet to a Coinbase account. Linking the two platforms can cause compliance issues, as it leads to the sharing of account details, wallet addresses, and transaction history.

Coinbase collects a lot of personal information from users, including usernames, transaction records, details of money going in and out, and more, as they explain in their Terms of Service. This information will be easily available for authorities to look into any illegal activities.

The discussion gets more heated when considering Coinbase’s L2 network Base to be very centralized and heavily dependent on tokens backed by venture capital firms. While many people prefer convenience over privacy, Mishaboar focuses more on protecting data.

This aligns with what other crypto enthusiasts imagine: a world of decentralization and freedom from interference by middlemen who have long-set rules for trading. 

The review of Coinbase’s service suggests that users should read their Terms of Service and Privacy Policy before using the Coinbase Wallet.

Also Read: Altcoin Market Cap Could Hit $4 Trillion, Bitcoin ETF Inflows $378M