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Author Topic: is Coinbase insured?  (Read 140 times)
crairezx20
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July 20, 2018, 06:36:32 AM
 #21


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.
You can try use electrum wallet and put a strong password and always put updated antivirus like kaspersky my wallet never hack by putting a strongly encrypted password with strong antivirus for cryptocurrencies.

Its not recommended to use Coinbase wallet if you are planning to save and hold your bitcoin for a long time because there is no assurance or guarantee if you are safe holding your bitcoins for a long time.

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husnanparebok
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July 28, 2018, 02:41:37 AM
 #22

Yes BUT if your individual account gets hacked, you're on your own. So if you don't have 2fa then you are stupid. Sorry but better you hear it now than lose it all.

LOL.
Thanks for let me hear that...
Maybe for beginner like me is important to do 2FA to make my meney safe.

coinbase is the most trusted exchange here in the U.S. so far theres no major issues that i have encountered and i have been using it for 2years.I couldnt imagine if coinbase will be compromised im sure the whole market and the u.s government will track those people who will try to.Insurance?nope theres no insured exchange as of the moment thats why you shouldnt put big amount of bitcoins on any exchange,keep it to your hardwallet just to be sure.

Thanks Mr. CREAMPIE
But for now, I do not need hardwallet, cause I not have big amounts of btc.
My Ether Wallet for my Etherium (+Token) and Eletrum is enough.

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July 28, 2018, 03:02:42 AM
 #23

If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?

Code:
U.S. Customers
Coinbase stores all customer fiat currency (government-issued currency) in, custodial bank accounts, or in U.S. Treasuries.

Non-U.S. Customers
Coinbase stores all customer fiat currency (government-issued currency) in segregated, custodial bank accounts.

Cash balances held in your Coinbase accounts belong to you - not Coinbase.

If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.

But you have to learn more about Coinbase. Because, as far as I know, your compensation rate is almost none if you do not keep your account secure. Unless of Coinbase's fault


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July 28, 2018, 09:07:54 AM
 #24

Currently, Coinbase is having an insurance policy for members who have KYC. If your account is hacked due to Coinbase error, the insurance number can be up to $ 250,000
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July 28, 2018, 08:14:30 PM
 #25

When your account is hacked, it's more probably that it is your fault (weak password or something like that) and the insurance will not cover your loss. Like many others already said, you are responsbile for your coins, so use your own wallets.

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July 28, 2018, 09:25:48 PM
 #26

hi dear , last february my friend was fraud through phishing ,
and the exchange said that ther is no insurance cover about it.
He was very sad.

I think with Coinbase is the same thing.

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July 29, 2018, 01:35:59 AM
 #27

If I have my money on coinbase and they get hacked, does their insurance policy cover my loss?
Never Cheesy, dont believe in some miracolous force that will return your money.
You are responsible for keeping it safe, not coinbase.

Its like that in whole world, not only in this case.

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July 29, 2018, 02:27:33 AM
 #28

There may be insurance for cash portion (i.e. uninvested fiat) like any bank would. But, non-cash portion is not insured. I cannot be. However, the will carry business liability insurance to cover legal liability, costs etc in case of litigation.
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July 29, 2018, 12:20:40 PM
 #29

If Coinbase gets hacked, it doesn't matter whether they are insured or not, the dip will be so hard that there really is no difference since BTC and all Alts will suffer so hard that you'd been better off burning the money in the first place Cheesy

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