Cryptocurrency exchange Nominex will pay +20% of the sum of a deposit for users who decide to leave Coinbase. It's worth noting that Nominex has NO KYC on all amounts under 3BTC.

This comes after reports of a massive exodus of users who are extremely unhappy about Coinbase selling licenses for its user's data to law enforcement agencies.

On Twitter, crypto influencer John Rager conducted a poll asking his followers:

“Would you actually delete or stop using your Coinbase account?”

About 66% affirmed that they would stop using the services of the cryptocurrency exchange.

Coinbase is currently in a firestorm across the cryptospace. Crypto Twitter is currently spreading this fire with the hashtag #DeleteCoinbase. Other social media platforms are also on fire as well.

This comes at a time when the cryptospace is receiving attention from the rest of the world. Already, the recent price increases and moves by Bitcoin investment trust Grayscale have placed it in everyone's focus.

Sources say that

“On January 21, 2020, Grayscale became an SEC reporting company, registering its shares with the Commission and designating the Bitcoin Trust as the first digital currency investment vehicle to attain the status of a reporting company by the SEC....till the end of May, Grayscale Bitcoin Trust Fund had a total of 343,954 BTC under management, and the portfolio has soared to $3.37 billion.”

This puts pressure on the cryptospace at a time when cryptocurrency exchanges are under pressure. Some are involved in legal cases (Bitfinex and Bittrex) while others have had security breaches in the past.

Demand for cryptocurrencies is rising and there seems to be a dearth of providers who can meet up with the challenges of rising demand. Security and privacy are two cardinal principles that cryptocurrency users hold dear. The past decade has proven that these two will continue to be fundamental for users.

Coinbase it seems has been caught in the fray before. Its acquisition of Neutrino has given many the chills concerning exactly what the cryptocurrency exchange is doing with users' data.

The recently released IRS documents show that blockchain transactions can now be tracked to a high degree of accuracy. This had drawn the ire of users on the issue of privacy on cryptocurrency exchanges.

It also creates a new paradigm. One where users are seeking anonymity and privacy within legal limits.

Nominex explained how to get the bonus by steps:

  1. Choose your favorite social media: Facebook, VK, or Twitter, and follow Nominex
  2. Find a similar post with a hashtag #DeleteCoinbase on a social media of your choice and share it
  3. Add to the repost “ #DeleteCoinbase and go to @Nominex” and screenshot proving that you deleted your account on Coinbase
  4. Join Nominex Telegram chat, send us your post link and #DeleteCoinbase

Community members will take up the process of guidance.