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Coinbase CEO Brian Armstrong has acknowledged that the unexpected freezing of user accounts has been a major issue for the cryptocurrency exchange.
In a recent announcement on X, Armstrong stated that the company has successfully reduced these unnecessary account restrictions by 82% and is committed to further improvements.
The progress comes after significant investment in upgrading the platform’s machine learning models and infrastructure, according to Dor Levi, a product team member at Coinbase.
The enhancements have improved the precision of the Coinbase security systems, leading to fewer legitimate accounts being mistakenly flagged and frozen.
Despite these advancements, Armstrong and Levi confirmed that Coinbase will continue to comply with court orders and legal sanctions requiring account restrictions.
The Custodial Dilemma: When Your Crypto Isn’t Yours
Despite the platform’s efforts, the announcement has been met with continued frustration from many customers. Some users on social media reported being unable to access funds for months, and in some cases, over two years, leading many to abandon the platform.
Compounding the issue are complaints made on X about the difficulty of reaching a human customer service representative to resolve matters.
The situation is a stark reminder of the inherent risks associated with custodial wallets, where a third party, like Coinbase, holds the user’s private keys and thus has ultimate control over their funds.
Given these challenges, the principle of ‘not your keys, not your crypto’ has never been more relevant.
The only way to guarantee immunity from third-party freezes, breaches, or restrictions is by using a non-custodial wallet like Best Wallet, where you retain complete control of your private keys and digital assets.
Best Wallet: Security You Control, Freedom You Deserve
If you’re looking to escape these custodial risks, Best Wallet offers a powerful solution built on the principle of true ownership.
As a leading non-custodial wallet, it ensures your private keys are stored directly on your device, not a central server. This eliminates the risk of a third party freezing your account, as users have experienced with Coinbase.
Beyond its security, Best Wallet is a feature-rich powerhouse. You can seamlessly manage a diverse portfolio with its multi-chain support and display your prized digital collectibles in the integrated NFT gallery.
Forget complex exchanges; the built-in swap feature allows you to trade assets instantly and securely right within the wallet.
It’s more than just security; it’s the freedom to manage, trade, and display your entire portfolio on your terms.
Best Wallet Token ($BEST): Rewarding Your Financial Freedom
At the heart of this user-centric ecosystem is the Best Wallet Token ($BEST), a key that unlocks the ecosystem’s full potential.
$BEST is more than just a digital asset; it’s a utility token designed to reward its holders. By owning $BEST, you unlock instant access to premium features and valuable financial benefits within the Best Wallet ecosystem.
Enjoy significantly reduced fees on in-app swaps and transactions, maximizing the value of every trade. $BEST is also your ticket to higher yields, granting you access to boosted staking rewards on various assets.
One of the most appealing benefits of holding $BEST is its early access to the best new crypto presale tokens from up-and-coming projects, allowing you to invest before they hit the market.
Beyond personal gain, holding $BEST gives you a voice. It grants you governance rights, allowing you to vote on key proposals and help shape the future development of the Best Wallet platform.
$BEST is available in presale for $0.025155, but we predict it could reach $0.035215 by the end of 2025, an impressive 39.99% gain if you invest now.
As non-custodial wallets like Best Wallet and its native token $BEST could unlock many impressive features and overcome issues that custodial wallets face, you must remember to research before making any investments.
