This review is based on my personal experience and is intended to provide honest feedback about the services I have used. If you are considering using Gemini or Coinbase, please ensure you thoroughly read and understand their user agreements and consider your own needs and circumstances.
Based on my personal experience with Gemini, I highly recommend carefully reviewing user agreements before signing up for any exchange. Take the time to understand their terms and conditions, especially those related to account verification, withdrawal limitations, and account termination. By doing so, you can avoid unexpected issues and ensure a smoother experience in the long run.
I reside in New York, and this state has placed MANY restrictions and regulations when it comes to the usage, trade and options to use cryptocurrencies.
When I heard about Dalas newest project, PambiCoin, I thought it was late, extremely late!
I noticed when he added his video in YouTube "Cómo prepararte para la llegada de MI MEMECOIN (importante!)" (How to Prepare for the Arrival of MY MEMECOIN (Important!)), unfortunately I ignored the video and when to listen to music... Later on, around three days after, I noticed something when I opened X/Twitter, there were memes, TONS and TONS of memes! I was quite confused yet I decided to look a bit more into it. I noticed there was another YouTuber mentioning the coin (JaviOliveira) and then I tried to "Google it" there was his website, I opened it and tried to see what was going on, and to be honest I had a difficult time completely understanding what I was looking at...
I started to see how it was possible to get the coin, I read some comments on X/Twitter and asked ChatGPT if it knew what it was and this is its response:
Pambi Coin (PAMBI) is a relatively new cryptocurrency that operates on the Solana blockchain. It has recently gained attention due to a significant price increase. The PAMBI/SOL trading pair saw a 65.94% rise in the last 24 hours, reaching a price of $0.01541 with a 24-hour trading volume of $6.11 million. The coin is traded on the Raydium decentralized exchange, and it has seen a high number of transactions, indicating active trading and interest in the coin (CoinMarketCap) (Cryptonews).
If you are considering investing in Pambi Coin, it's crucial to conduct thorough research and stay updated with market trends and developments. You can track its performance on platforms like CoinMarketCap and CoinGecko for real-time data and historical price movements (Cryptonews) (CoinGecko).
I tried to get a Coinbase account, but I cannot use it until May 31st (this is being written on May 28th). Then, I tried to get it on Gemini, and although it worked, I can't transfer nor withdraw anything yet since I am waiting to be verified. After a couple of emails back and forth with the Gemini team, which has been going on for a couple of days, they didn't accept my identification documents, and I've come across a HUGE problem with them. I made a mistake and, unfortunately, placed all the money in Gemini and even converted it to Solana to use. I did that because I was allowed to perform such actions regardless of the verification process being completed, something that was NOT allowed by Coinbase...
Today is May 31st, and I am able to use my Coinbase account, but I've placed all the money I was going to use for this in Gemini.
The craziest thing is that I have been able to get verified by Coinbase with the documents (New York City Identification Card) that Gemini did not accept. They told me that they are working with their team to solve the issue and have repeatedly mentioned the usage of other documents—documents that I currently don't have and some that I cannot obtain due to personal reasons. It's sort of strange that I am not able to use other documents, which hasn't even happened with other legal processes involving state, city, and national government, such as getting a new Social Security card due to changed information and medical documentation for insurance.
My experience with them has been quite a journey so far. It's been around 7 days that I have been waiting to complete the process with their service, but I really think that I should have waited a little longer for Coinbase or NOT used all the money I was planning to use for that. Regardless of the amount I placed there, I definitely think it's a HUGE deal-breaker being able to place money on any exchange without being verified, YET NOT being able to withdraw it without completing the verification process. I hope the issue gets resolved as soon as possible—not only because I want to get PAMBICOIN but because it's not a good user experience so far, and I fear that might deter potential users from considering them in the future.
It's been a while, and the last update on Gemini is: They have decided to close my account, their notice for such decision being:
"After reviewing your account, Gemini has determined your account must be closed.
As per Gemini’s user agreement “You agree and understand that we have the right to terminate your access to Gemini and any account at any time and for any reason, and that if we do so, your rights and obligations under this User Agreement will continue.”
For more information on Gemini’s user agreement, please see the following link: https://gemini.com/legal/user-agreement#account-termination.
Although we understand you have questions as to the reasons behind this decision, Gemini is unable to disclose any further details. The risk review process is confidential and Gemini will not be able to elaborate any further.
Thank you,
Gemini Customer Support"
And, oh well. My recommendation so far for this exchange is a NO. To be honest, I don't quite remember seeing the option to read such... type of agreement while creating my account, to which if I had read carefully, I would have absolutely NOT use this service nor have it in my list. The User Agreement is absolutely unreadable, its huge and has to much on it. How can such type of agreement be even legal when there are not written signature, even if digitally? And this is NOT a question regarding just them, but in general regarding this type of agreements that are a huge thing for later on to even consider going legally against such companies...
And now, when it comes to Coinbase, I am still waiting to able to use my funds. I have them, but since I added them on a Friday, I must wait until my bank accepts the transference, and then Coinbase lets me take the money out, which I need to do in order to get Pambi, unless I can get it from within their services, which might be possible...
I was finally able to get pambi!!! I got it by using: Coinbase and Phantom
Lots and lots of things have happened in the last weeks, it was certainly rough.
Regarding Pambi (AKA: PAMBI, Pambicon or Pambi (1)), there is a new coin which is being created from the learned mistakes from Pambi 1. The new coin, PAMBII (with two i's) aims to fix all the mistakes created from the past coin, the first one.
With this new coin, Dalas and his team have been throwing hints of things that will come in the future, such as a new game and others, to which they have detailed more in their white paper and over their social media.
I will create a more detailed essay/recall of the anouncements and how it went for me, but for the sake of time, I will be only stating that:
I got Pambi 1
I did not sold Pambi 1 after nor before Pambii (2) was launched - All following the recommendations provided by Dalas in his videos
I tried to be aware as possible of everything going on for Pambi, mostly in Twitter
I got Pambii (2) around a week later that when it came
I sent my form through Discord: This form was created so that people in the community who lost on the first meme coin could get PAMBII, which is a step further that I don't really think was necessary since NO ONE was forced to put their money ANYWHERE, however, Dalas and their team is doing all they can in order to compensate back the investment lost from the community, which was the reason why Dalas even created this coin in the first place, and the people he was addressing when he was making the videos.
As far of today (06/30/2024), I have not received any updates (I sent the form yesterday) to which I assume is expected since there is 8 people (including Dalas) checking all the information from hundreds and hundreds of users.