TL;DR Breakdown
- Coinbase is under attack for claiming that it is decentralized.
- The customers fired back after the company stated that it no longer has a headquarters.
- Most complaints were centred around poor customer service.
Coinbase decentralization claims attract criticism
Coinbase decentralization claims have drawn fire from customers after revealing that it no longer has a headquarters thus making it decentralized.
The CEO Brian Armstrong made this known through a post on the 25th of February where he revealed that a larger percentage of the workers now work remotely.
Coinbase, formerly based in San Francisco, believes that removing the need for a headquarters has attracted top talents to the company. The company said it believes that the decentralization would help them hire the best minds.
Over the years, the company has not had a very good track record among users especially due to its poor customer relation, exorbitant fees and unreliability in volatile market conditions.
Decentralization comments put Coinbase under fire
The comment from the CEO had drawn on the fact that since the company no longer had a physical headquarters, it had become decentralized.
However, the remarks from the company have drawn fire from furious customers online. A Twitter user said that the move does not in any way make the company decentralized. Another user claimed that the company has terrible customer support.
The reaction from customers centred around the poor customer service of the company and its untrusted service during violent market movements. Another dissatisfied user claimed that the fees he had to pay on the platform was not proportional to his investment.
The exchange was accused by another customer of being centralized, related to the suspension of XRP by the company. Another unhappy customer said that he is disappointed about the company’s attitude towards its customers, which should have been its focus. Most comments were focused on recurrent service outages.
