Is Coinbase safe enough to hold your BTC?

[bitcoinrocks]

I've read a lot about security as it relates to BTC and I understand that it is safest to use an offline wallet.  However, is Coinbase generally considered safe enough to store (for example) $3K worth of BTC?  Are all kinds of people losing BTC this way or is it proving to be safe?

[posormo]

I wouldn't hold my BTC in any American "exchanges" myself.   Not worth the risk.  I don't hold on exchanges at all tbh.   If I need BTC on an exchange at any specific time, I send it in, do what I need to do, and get it out.

[Nigeria Prince]

I don't think coinbase is safe enough.
Research has shown, it is based in America, which is very very bad.

From their Terms of Service:

"We may share your personal information with:

- Service providers under contract who help with parts of our business operations such as fraud prevention, bill collection, marketing and technology services. Our contracts dictate that these service providers only use your information in connection with the services they perform for us and not for their own benefit.
- Financial institutions with which we partner.
- Companies that we plan to merge with or be acquired by. (Should such a combination occur, we will require that the new combined entity follow this privacy policy with respect to your personal information. You will receive prior notice of any change in applicable policy.)
-Law enforcement, government officials, or other third parties when:
We are compelled to do so by a subpoena, court order or similar legal procedure; or
We believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of our User Agreement.
- Other third parties with your consent or direction to do so."


Research has shown, it is based in America, where the Obama Regime can seize your assets at will.
Coinbase give your personal data straight to NSA probably.


Rather use a safe wallet like https://kipochi.com/

[LiteCoinGuy]

dont do this. keep your main coins away from an online-wallet or do you keep all your money in your pocket and go to mc donalds? dont think so (hopefully). 

[gerXhonza]

I've read a lot about security as it relates to BTC and I understand that it is safest to use an offline wallet.  However, is Coinbase generally considered safe enough to store (for example) $3K worth of BTC?  Are all kinds of people losing BTC this way or is it proving to be safe?

It is not your BTC as long as these coins are at exchange. If the exchange fills bancruptcy, it is easy to see the BTC they owe you are not waiting just for your withdrawal.

[bitcoinrocks]

So the dangers with keeping your BTC in an exchange are the government seizing them or the exchange filing bankruptcy or otherwise running off with them?

What makes kipochi.com more trustworthy?

On a side note, why does an exchange being in America make it more dangerous?  It's true (and unfortunate) that the US government has been known to take whatever it wants, but so do many other governments and to a much greater degree.  I'm the most familiar with the US, Spain, and Australia.  The following thread contains several anecdotal accounts of the Spanish government taking fines directly out of the bank accounts of normal citizens without any kind of due process:

http://www.expatforum.com/expats/spain-expat-forum-expats-living-spain/127813-bandits.html

The Australian government doesn't strike me as hands-off either but I don't think they'd go to that degree.  I've spent most of my life in the US and I've never heard of that sort of thing happening there.  In the news I've read about assets being frozen but that is done to people who are suspected of committing a crime.  Generally, if the US government wants your money and you don't want to give it to them then they have to sue you for it in court.  My question is, which are the governments that keep their hands off your money to a much greater degree than the US government does?  Maybe there are a lot of them and I'm curious to know which they are.

[bitcoinrocks]

Are there any?

[joesmoe2012]

I usually use blockchain.info as my 'working' wallet, the one i do all my transactions from.

So buy on coinbase, then send to blockchain.

Be sure to keep a backup too from blockchain incase they ever go offline.