Doozle22
Junior Member
- Dec 26, 2016
- 136
- 29
I am working on a cryptocurrency information website that will be live soon, I will keep you posted and will do a guide about that.
Is Coinbase a safe wallet
- Thread starter StealthPayPal
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- coinbase
don chino
Senior Member
- Apr 2, 2011
- 890
- 291
Cold storage (offline) is the safest.
But Coinbase can be safe, too. As long as you keep coins on their regular account (activated by default) you basically don't own the coins - cause you don't hold the private key for your wallet. If anything happens then, you're screwed. Better use 2FA for login (has been hacked too with Verizon Wireless). However, Coinbase offers Multisign Vault wallet, that gives you the private key, which you can use to recover your funds in case Coinbase goes down or gets hacked. Furthermore, Coinbase USD wallet for US residents is backed with up to $250k with FDIC insurance.
I guess even if something does happen to Coinbase, everyone will suffer the price decline.
But Coinbase can be safe, too. As long as you keep coins on their regular account (activated by default) you basically don't own the coins - cause you don't hold the private key for your wallet. If anything happens then, you're screwed. Better use 2FA for login (has been hacked too with Verizon Wireless). However, Coinbase offers Multisign Vault wallet, that gives you the private key, which you can use to recover your funds in case Coinbase goes down or gets hacked. Furthermore, Coinbase USD wallet for US residents is backed with up to $250k with FDIC insurance.
I guess even if something does happen to Coinbase, everyone will suffer the price decline.
John4life2017
Banned - Multiple Rules Violations
- Jan 15, 2017
- 2,747
- 802
Use an offline wallet to minimize risk