As of October 2018, Coinbase Custody, the digital asset custody offering from San Francisco-based cryptocurrency exchange Coinbase, has officially launched. The launch comes after a successful $6 million seed funding round for the product, which was first announced in July.
So does this mean that Coinbase is using Prime Trust?
Not necessarily. While Prime Trust is one of the custodians that Coinbase Custody has partnered with, it is not the only one.
NOTE: WARNING: Coinbase does not use Prime Trust as a custodian for its digital assets. All customer funds are held in custody by Coinbase itself and not a third-party provider. Therefore, customers should exercise caution when considering using Prime Trust for their Coinbase accounts.
Others include BitGo, Xapo, and Kingdom Trust.
It is also worth noting that while Coinbase Custody does offer support for storing digital assets offline in cold storage, it is not required. This means that whether or not Coinbase uses Prime Trust for its own digital asset storage needs is ultimately up to the exchange.
At the end of the day, what matters most is that Coinbase Custody provides a safe and secure way for institutional investors to store their digital assets. Whether or not Coinbase uses Prime Trust itself is relatively unimportant in the grand scheme of things.
8 Related Question Answers Found
As digital assets and cryptocurrencies continue to grow in popularity, more and more people are looking for ways to securely store and manage their investments. One of the most popular options for doing this is through a company called Coinbase. But is Coinbase a Prime Trust?
It’s no secret that the cryptocurrency industry is rife with scams and hacks. In fact, a report from Chainalysis released in 2018 found that nearly $1 billion worth of cryptocurrency had been stolen in the first half of that year alone. So, when it comes to trusting a company with your money, it’s understandable to be cautious.
There are a lot of people out there who are wondering if Coinbase is trustworthy. After all, they are one of the most popular cryptocurrency exchanges out there. So, let’s take a closer look at whether or not Coinbase is trustworthy.
As one of the most popular cryptocurrency exchanges, Coinbase has been subject to a lot of scrutiny. But is Coinbase legit
Coinbase is a digital asset exchange company headquartered in San Francisco, California. It was founded in 2012 by Brian Armstrong and Fred Ehrsam, and it allows users to buy and sell cryptocurrencies.
It is no secret that cryptocurrencies have been gaining popularity worldwide at an unprecedented rate. Many people are looking to invest in this new and exciting market, but the question remains – where is the best place to do so? One of the most popular exchanges is Coinbase, but is Coinbase legitimate?
Coinbase is a digital asset exchange company headquartered in San Francisco, California. They broker exchanges of Bitcoin, Ethereum, Litecoin and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Coinbase has been a reliable and trusted platform since its launch in 2012.
As of now, Coinbase does not support Ethereum Classic (ETC). This is because Coinbase considers Ethereum Classic to be a fork of Ethereum (ETH), and not a separate cryptocurrency. Forks happen when the community doesn’t agree on updates to the cryptocurrency’s software.
Coinbase is a digital asset exchange company headquartered in San Francisco, California. The company was founded in June 2012 by Brian Armstrong and Fred Ehrsam, and has since grown to become one of the most popular cryptocurrency exchanges in operation today. Coinbase allows its users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as to store them in a wallet on the Coinbase platform.
