CoinBase last in Bitcoin Wallet privacy report

FinTech | May 27, 2015 By:

CoinBase recently placed last in a privacy report by the Open Bitcoin Privacy Project (OBPP).

In the report by the OBPP, an open-source organization dedicated to financial privacy, CoinBase scored an 11 out of 100 and declined to answer a questionnaire about wallet capabilities.

The report notes that CoinBase generates and holds all private keys server side, an act of low privacy which even Blockchain.info does not make. CoinBase additionally scored zero in the “privacy from blockchain observers,” “privacy from network observers,” and “privacy for transaction recipients” categories.

The spring report focused on usability, quality, and user feedback for address generation and backup, privacy from blockchain observers, privacy from network observers, and privacy for transaction recipients.

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.