Does Coinbase provide FDIC insurance for cryptocurrency deposits?

3 answers

• Dec 28, 2021 · 3 years ago
  Yes, Coinbase provides FDIC insurance for cryptocurrency deposits. This means that if Coinbase were to suffer a breach or go bankrupt, your eligible cryptocurrency holdings would be protected up to $250,000 per customer, just like a traditional bank account. It's important to note that this insurance only covers USD balances held in Coinbase accounts, not the actual cryptocurrencies themselves.
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• Dec 28, 2021 · 3 years ago
  No, Coinbase does not provide FDIC insurance for cryptocurrency deposits. While Coinbase takes security measures to protect your funds, such as storing the majority of customer funds in offline cold storage, there is no FDIC insurance coverage for cryptocurrencies. It's always recommended to store your cryptocurrencies in a secure wallet that you control the private keys for.
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• Dec 28, 2021 · 3 years ago
  Although Coinbase is a reputable and well-established cryptocurrency exchange, it's important to understand that FDIC insurance is only applicable to traditional fiat currencies held in bank accounts. Cryptocurrencies are not recognized as legal tender and are not covered by FDIC insurance. However, Coinbase has implemented various security measures to safeguard customer funds and has a solid track record in terms of security and customer protection.
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