I went big into Bitcoin and Ethereum...

[jjdub7]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

Hello, I think Coinbase are safe enough about the time you will keep your coins in their wallet. In any case, Trezor wallet is a much more secure and good option, but I think that in a few days you will not have any problems with the security of your coins.

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[Ewox]

I think it would be best for you to hold your coins in a hard wallet though instead of letting it sit on Coinbase, although I do feel secure using it. It’s just that it’s a lot of money if someone might get a hold of it, it’s better that you yourself can only access it using a hard wallet. Oh and just make sure pud 2FA on the site/app too while it’s sitting there.

[Fredomago]

I think it would be best for you to hold your coins in a hard wallet though instead of letting it sit on Coinbase, although I do feel secure using it. It’s just that it’s a lot of money if someone might get a hold of it, it’s better that you yourself can only access it using a hard wallet. Oh and just make sure pud 2FA on the site/app too while it’s sitting there.

Better suggestions, as the money that you have should be taking care of yourself, it's not that Coinbase might collapse or something happened along the way, but it's always good to have the full control of your assets. Providing more deeper securities and additional
care in case attempts of hacking happened.

Hardware wallet will keep you more safer as you have everything and guarding your assets is far better as you are holding it in full control.

[dothebeats]

Coinbase is okay for holding some coins temporarily, though I would not entrust them of my money for extended periods of time. As soon as you receive your Trezor, go on and withdraw all your funds immediately and be done with it. It's better to stay vigilant and keeping one's eyes peeled in these situations wherein a huge amount of money is involved than entrusting it on a third-party that may or may not screw you over in the process. Also, hacks are still a thing in 2021, so might as well be safe with everything.

[Dr.Ona]

Thank you all again for great info!
Just waiting for the Trezor to show up to do the transfer.

[seoincorporation]

Hold your coins on an exchange is a terrible idea because there are multiple ways to lose your coins. Maybe the site is secure, but your computer is not and if someone gets access to your credentials then you can lose your money. If you don't have your private keys then they are not your coins. Simple as that.

A ledger is a good option, but it had some vulnerabilities in the past, so, there is no a 100% secure way to hold your coins. but some ways are more secure than others.

[Strufmbae]

Bitcoin really is into bullrun rightnow but $50k is a good investment. Just keep your account up to date nothing to worry.
The only disadvantage that I am sure of is it's not 100 % secured if you are into trading your crypto on coinbase is good to go. But if you want to HODL better transfer crypto to a Ledger. And Guess what if $50k is not for newbies 😅😅😅

[isaac_clarke22]

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Hello, OP.
That's quite a huge buy, huh.
I am not even halfway from that amount from my earnings.

In regards to your question since you bought Trezor, you might need to consider moving your funds to it now.
Regardless of how reputated, secured, or even rated an exchange is, don't hold your coins there.

It takes just someone spending all day finding vulnerability to a site before he/she/they get/s access to your account and once that happens, the obvious would happen.

[Lorence.xD]

Hold your coins on an exchange is a terrible idea because there are multiple ways to lose your coins. Maybe the site is secure, but your computer is not and if someone gets access to your credentials then you can lose your money. If you don't have your private keys then they are not your coins. Simple as that.

A ledger is a good option, but it had some vulnerabilities in the past, so, there is no a 100% secure way to hold your coins. but some ways are more secure than others.

What can OP do though, I mean the cold wallet isn't delivered to OP yet so I think OP just has to hope that there isn't anything funny that is going to happen to Coinbase. The computer security is debatable, if you are a type of person who clicks any suspicious links then you are likely to get your credentials stolen but if not then there isn't anything to worry about.

[yohananaomi]

What can OP do though, I mean the cold wallet isn't delivered to OP yet so I think OP just has to hope that there isn't anything funny that is going to happen to Coinbase. The computer security is debatable, if you are a type of person who clicks any suspicious links then you are likely to get your credentials stolen but if not then there isn't anything to worry about.

All the mistakes that occur with theft are mostly self-made mistakes, and I agree with you friends. computers that we use even though we have protected them with original anti-virus, the possibility of being careless can happen because of our behavior which is quite often doing violations. the possibility of hackers entering into our computers due to a seemingly simple error is clicking on any link that we are not familiar with.

as long as we behave fairly and always maintain good care and are not reckless we can be sure we will be safe from naughty hackers. if the wallet is certain to be very good and very reliable for protection, but once again carelessness can also cause us to have it in the wallet to change hands.

[Lorence.xD]

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All the mistakes that occur with theft are mostly self-made mistakes, and I agree with you friends. computers that we use even though we have protected them with original anti-virus, the possibility of being careless can happen because of our behavior which is quite often doing violations. the possibility of hackers entering into our computers due to a seemingly simple error is clicking on any link that we are not familiar with.

as long as we behave fairly and always maintain good care and are not reckless we can be sure we will be safe from naughty hackers. if the wallet is certain to be very good and very reliable for protection, but once again carelessness can also cause us to have it in the wallet to change hands.

Well, most attacks aren't targeting individuals so I think that more or less, everyone is safe but if it is a specific target, they still have to bypass the individual either via opening a suspicious link or social engineering them. But that still doesn't ignore the fact that we have to take measures like putting our bitcoin in a cold wallet.

[kotajikikox]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

Secure in sense of Their exchange security but hackers is always on the track of potential victims and 2fa at some point did not Assured our safeties because there are several cases that even that they had 2fa yet becomes a victim I don't know how the hackers get into them but that happens .

But since you already purchased the coins and has no other option to store your coins ,then lets Hope and pray that no issue will come your way until the trezor comes.

I think it would be best for you to hold your coins in a hard wallet though instead of letting it sit on Coinbase, although I do feel secure using it. It’s just that it’s a lot of money if someone might get a hold of it, it’s better that you yourself can only access it using a hard wallet. Oh and just make sure pud 2FA on the site/app too while it’s sitting there.

he has only some days to wait before the ordered trezor comes so i think that's enough time to keep safe His coins.

[bitterguy28]

I Use coinbase for Years now and i even let sit my bitcoins there for long time as i am waiting for good coins to buy but so far with my 2fa I felt safer with them.
Though That amount of yours is really High and maybe some Hackers likes targeting you.
better that next time Buy Trezor or Ledger nano S before purchasing Bitcoin or crypto to Hold.

[int03h]

The amount of $ 50k is quite large. Buying Bitcoin and ETH is risky now as they have risen close to the nearest ATH.
Buy low and sell high to increase the amount of your Bitcoin and ETH.
I recommend monitoring Bitcoin and ETH's value change signals regularly so that you can change your strategy to suit the market.

[sapnu]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

Going in bitcoin and ethereum right now is not really ideal considering how the prices of both at the moment. I would suggest that you buy bitcoin and eth during its pump wherein it is a smart move to buy during those times. You'll see as time passes by that the amount of btc and eth you bought goes up as they experience bull run or sudden pump. The wallet you've mention was said to be well secured but still do not be too confident cause hackers are getting more and more better these days. I hope the amount you bought would still grow regardless of the timing since btc and eth are both great coins that are leading the game.

[StartupAnalyst]

I just ordered a Trezor 1 cold wallet.

Whatever you heard about safety of exchange market wallets it’s better not to use them for long holding of your cryptocoins. There have been precedents when hackers hacked in Coinbase user account and stole all assets. Here you can read more how even scammer hacked in Coinbase user account: https://www.reddit.com/r/CoinBase/comments/gdcgd9/coinbase_account_hacked/ . You’ve made a good choice with Trezor 1 hardware wallet. That is one of the most trusted cold storage. So it’s better to move your coins there as soon as you’ll get your Trezor wallet.

[Silberman]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

Having a Trezor is very secure and knowing that you already got a big chunk of Cryptocurrencies, you should always keep your passwords and any other way of getting your Crypto secured in a place in which you can only access. The reviews speak for Trezor because it has not failed anyone unless that someone has forgotten every security detail Trezor provided. Although having Cryptocurrencies online is also another way to make them grow since we can always find ways to invest it.

Just remember that having a Trezor is not an automatic perfect defense against scammers, you still need to know how to use it to avoid losing your coins, one scam that we see a lot with hardware wallets is that if you get one that has been used before you will get a Trezor with the 24 seed words already filled, then people use that same wallet only for their coins to be stolen as the scammer still has access to those seed words and steals your money in that way.

[AniviaBtc]

In general, holding for long term in an exchange is not safe, you should put it in hard wallet.

We all know that most of the exchanges do have a history of getting hacked, and even if they troubleshoot or fixed it, their reputation about security will not be the same. I know that some of us are only relying on what is already there. It is not that hard to buy a hardware wallet if you really want to achieve the maximum security of your bitcoins that you want.

so if you don't want any problem, put it in hard wallet, secure it different location..

Just like a cliche saying, "Don't put all your eggs in one basket", that says it all.

[Renampun]

Thank you all again for great info!
Just waiting for the Trezor to show up to do the transfer.

From the information I got, Trezor is pretty safe...

so if you don't want any problem, put it in hard wallet, secure it different location..

Just like a cliche saying, "Don't put all your eggs in one basket", that says it all.

agree with you, storing everything in one wallet is very dangerous, we don't know what will happen to the surrounding, maybe bad luck befalls us. splitting these assets across multiple wallets will be much more convenient.

[Dr.Ona]

Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha

Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!

Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.

I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!

This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!