Topic: is Coinbase insured? - page 2. (Read 285 times)
No you can't comeback your money from coinbase if you are hacked but if you secure your account by your phone number and by 2FA authentificator you can't hacked
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
base on coinbase customer portal yes they will cover any loss of any breach of their security but if your account got hack because you were a victim of phishing or someone got access to your pc or laptop theres no way they will refund it. Is it the best way for me to store my crypto into Hard Wallet everytime after my trading?
Maybe a hardware wallet or a desktop wallet. Start by getting familiar with applications like Jaxx maybe, then after you get the hang of it download core wallets, then hardware wallets
Is it the best way for me to store my crypto into Hard Wallet everytime after my trading?
I'm kind of scared holding the coins myself, I'm not very good with computers and security. I think a billion dollar company with expensive security will be a lot safer.
While bitcoins at Coinbase are fairly secure, there are still major risks:
1. A hacker could get your Coinbase password through a variety of methods and withdraw your bitcoins. Other than major exchange hacks, that is how most bitcoins are stolen.
2. Coinbase could freeze or confiscate your bitcoins. That happens more than you think.
If you feel unsure about holding your bitcoins in your own wallet, try holding just a portion for now. You can move the rest to your wallet later when you feel more confident.
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
Regardless if they do or not. Crypto is you being your own bank. So if stuff like this ever happens, knock on wood, its your responsibility. Why do I say its your responsibility? Because you could have held the coins in a wallet that you really own. Having them on coinbase you don't REALLY own them. As everyone always says, if you don't have the private key(s) to your coins you don't own them. Thus meaning that for example having them on an exchange, you don't necessarily own them. If the exchange gets hacked, god forbid, there is a chance your coins might be lost in the hack or in the exit scam, whatever the case may be. Its always 100% more safe to withdraw to a wallet, being a paper wallet, desktop wallet, hardware wallet or what ever type of wallet, but you having full and complete control over your funds.
I'm kind of scared holding the coins myself, I'm not very good with computers and security. I think a billion dollar company with expensive security will be a lot safer.
Well my friend, if you want to get into crypto you will have to learn. Maybe okay coinbase might be secure, but look at all the other exchanges. Most of them can run off and exit scam and there is nothing you can do about it. Read up on wallets, paper wallets, desktop wallets. Might take you 2-3 hours to fully understand, then make your first transaction and learn from there. Its better to you have full access to your own funds, rather than somebody that can one day, if they feel like it just block your funds because they essentially "own" them, since you don't have the private keys.
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
Regardless if they do or not. Crypto is you being your own bank. So if stuff like this ever happens, knock on wood, its your responsibility. Why do I say its your responsibility? Because you could have held the coins in a wallet that you really own. Having them on coinbase you don't REALLY own them. As everyone always says, if you don't have the private key(s) to your coins you don't own them. Thus meaning that for example having them on an exchange, you don't necessarily own them. If the exchange gets hacked, god forbid, there is a chance your coins might be lost in the hack or in the exit scam, whatever the case may be. Its always 100% more safe to withdraw to a wallet, being a paper wallet, desktop wallet, hardware wallet or what ever type of wallet, but you having full and complete control over your funds.
I'm kind of scared holding the coins myself, I'm not very good with computers and security. I think a billion dollar company with expensive security will be a lot safer.
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
Regardless if they do or not. Crypto is you being your own bank. So if stuff like this ever happens, knock on wood, its your responsibility. Why do I say its your responsibility? Because you could have held the coins in a wallet that you really own. Having them on coinbase you don't REALLY own them. As everyone always says, if you don't have the private key(s) to your coins you don't own them. Thus meaning that for example having them on an exchange, you don't necessarily own them. If the exchange gets hacked, god forbid, there is a chance your coins might be lost in the hack or in the exit scam, whatever the case may be. Its always 100% more safe to withdraw to a wallet, being a paper wallet, desktop wallet, hardware wallet or what ever type of wallet, but you having full and complete control over your funds.
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
Quote
Coinbase prioritizes the security of our customer's funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.
Please note that the insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase.
For more on securing your account, see here.
Digital currency is not legal tender, is not backed by the government, and digital currency accounts and value balances on Coinbase are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
Please note that the insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase.
For more on securing your account, see here.
Digital currency is not legal tender, is not backed by the government, and digital currency accounts and value balances on Coinbase are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
source: https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Dude, it`s like first link in Google. I really think you should do at least a minimal research before asking stuff here.
If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
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