Topic: Is Coinbase Vault safe ? (Read 958 times)
I use Coinbase for long time without any problem they are safe even many peoples have complaints against them but still they are good and I feel secure because I never use this Vault mostly I have my coins in my account and can withdraw any time without any problem if you have high amount then you can use this as now they are taking very high fees for withdrawals
Hi all,
Is Coinbase vault safe ? I know I would not be In control of the private keys but are they a respected enough company, and I would prefer to hold my bitcoin with them so I don't need to have the hassle making a paper wallet etc... also I have instant access to spend the bitcoin if I wanted with Coinbase.
This is what they say on their website : https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Do any of you store BTC in their vault ?
Thank s
Storing bitcoin on any exchange do really have always the risk and I cant say that it would really be safe even though I has being kept on their vault.Im not against on coinbase but yet it is more confident to store up those coins on those wallets which you do have the full control or possession of your private keys ex. Electrum as long you didn't able to disclose those private keys of yours of your wallet then I would really consider it much safer than on storing on exchanges since no one would ever know on when they would stop their service or they might being compromised since you don't have the keys then say goodbye to your bitcoins once they do stop. Is Coinbase vault safe ? I know I would not be In control of the private keys but are they a respected enough company, and I would prefer to hold my bitcoin with them so I don't need to have the hassle making a paper wallet etc... also I have instant access to spend the bitcoin if I wanted with Coinbase.
This is what they say on their website : https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Do any of you store BTC in their vault ?
Thank s
I used Coinbase Vault in the past and it is safe against unauthorized access because you have to do multiple verifications in order to withdraw from the vault such as verify using both email address and entering 2FA code plus 2 or 3 days timeframe. Howsoever, I would not use Coinbase if you fear about giving any personal information about you to them since there were accusations that they required it in order to process the transaction.
Personally, I'd rather use a hardware wallet than passing through multiple verifications.
Personally, I'd rather use a hardware wallet than passing through multiple verifications.
Shift to blockchain.info. The level of security is similar and you have control of your private keys just keeping a paper with 12 words
I wouldn't recommend blockchain.info during these times either. Due to their Segwit2x policy, you may end up receiving verified payments as "BTC" when they are not spendable on the legacy BTC chain. You could also get replay attacked by pushing transactions on their service after the fork takes place.
If nothing else, people should be shifting to hardware wallets or air-gapped Electrum setups -- neither are difficult. If you've been using Bitcoin for a couple months, you can figure them out.
Shift to blockchain.info. The level of security is similar and you have control of your private keys just keeping a paper with 12 words
I would never EVER use Coinbase for any reason. The complete lack of customer support coupled with the unusually large number of complaints against them makes them untrustworthy, despite them being a registered & licensed company.
While I wouldn't suggest that you use an online wallet, if you want one that isn't shit try blockchain.info. They're most likely as safe as Coinbase or safer, but definitely better and more reliable, with a decent customer support.
While I wouldn't suggest that you use an online wallet, if you want one that isn't shit try blockchain.info. They're most likely as safe as Coinbase or safer, but definitely better and more reliable, with a decent customer support.
also I have instant access to spend the bitcoin if I wanted with Coinbase.
The coins that are stored in the "vault" have a 48 hour waiting period before you can spend them, during which you are notified of the withdrawal attempt. They're distinct from a normal Coinbase account.Is Coinbase vault safe ? I know I would not be In control of the private keys but are they a respected enough company
Are you sure? The r/bitcoin subreddit spends a pretty significant amount of their time complaining about Coinbase.There are also accounts of Coinbase support being dangerously incompetent.
and I would prefer to hold my bitcoin with them so I don't need to have the hassle making a paper wallet etc
Making a paper wallet isn't hard. You could also try having a hardware wallet and having multiple passphrases so that a brute force attack/5 dollar wrench attack is extremely difficult.There are no glaring problems but I personally would never feel comfortable giving my coins to a third party, regardless of how they claim to hold or insure my coins.
Hi all,
Is Coinbase vault safe ? I know I would not be In control of the private keys but are they a respected enough company, and I would prefer to hold my bitcoin with them so I don't need to have the hassle making a paper wallet etc... also I have instant access to spend the bitcoin if I wanted with Coinbase.
This is what they say on their website : https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Do any of you store BTC in their vault ?
Thank s
Is Coinbase vault safe ? I know I would not be In control of the private keys but are they a respected enough company, and I would prefer to hold my bitcoin with them so I don't need to have the hassle making a paper wallet etc... also I have instant access to spend the bitcoin if I wanted with Coinbase.
This is what they say on their website : https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Do any of you store BTC in their vault ?
Thank s
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