Sigh... CoinBase Vault...

[Python86]

Hi guys, I've asked a few newbie questions about storing BitCoins and still feel a bit worried I may mess it up. So just a quick question... before I start, I just wanna say, I'm aware that storing coins on any exchange means you don't own them and are vulnerable to hacks etc. I literally just want to buy some coins, store them long term, then sell them on. I have no intention of doing any activity with the coins or sending/receiving coins from others. Do you'd think this would be ok? I'm aware that CoinBase can freeze your account for any reason but do you think for the purpose mentioned it would be ok? I also hear CoinBase insure the coins, is this reliable? I k ow guys are very much against this practice but I'm just considering this as a newbie. Thanks guys

[1714776943]

1714776943

[1714776943]

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[mk4]

It depends. Would it affect you a lot if ever you lose your coins one way or another? If no, then leave them on coinbase. If yes, then definitely move them elsewhere. Whether or not they really ensure your coins, it isn't worth risking. Save yourself the headache in the future and move your coins somewhere else.

This should help you decide on what wallet to use: Topic: [General] Bitcoin Wallets - Which, what, why?

[LisaOrange]

I don't suggest you do that. I have bad personal experience with Coinbase, I personally use Paxful.com and they are more secure! just search Coinbase on Reddit

[mjenkins]

As a rule of thumb you should store in a wallet, and offline wallets are preferred, Ledger or Trezor.