Is it safe to store cryptocurrency on Coinbase?

3 answers

• Nov 27, 2021 · 3 years ago
  Yes, it is generally safe to store cryptocurrency on Coinbase. Coinbase is one of the largest and most reputable cryptocurrency exchanges in the world. They have implemented various security measures such as two-factor authentication, cold storage for the majority of funds, and regular security audits. However, it is always recommended to enable additional security features like a strong password and 2FA to further protect your account.
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• Nov 27, 2021 · 3 years ago
  Absolutely! Coinbase has a strong track record of security and has never been hacked. They use industry-standard security protocols and store the majority of their funds in offline cold storage. Additionally, Coinbase is regulated and compliant with relevant financial laws, which adds an extra layer of protection for your funds. Just make sure to follow best practices like not sharing your account information and enabling all available security features.
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• Nov 27, 2021 · 3 years ago
  As a representative of BYDFi, I would like to mention that while Coinbase is generally considered safe, it's important to diversify your holdings and not keep all your cryptocurrency in one exchange. This is because even the most secure exchanges can still be vulnerable to hacking attempts. Consider using hardware wallets or other offline storage solutions for long-term storage of your cryptocurrency. It's always better to be safe than sorry!
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