Coinbase, one of the most popular cryptocurrency exchanges, has been in the news recently for its acquisition of Plaid, a fintech startup. This has led to some questions about the safety of Coinbase and Plaid.
Coinbase is a digital currency exchange that allows users to buy and sell cryptocurrencies. It is one of the most popular exchanges, with over 10 million users.
Coinbase is regulated by the US Securities and Exchange Commission (SEC) and is registered with FinCEN as a Money Services Business. Coinbase has implemented multiple security measures, including 2-factor authentication and a host of others.
Plaid is a fintech startup that provides APIs to allow financial institutions to connect with users’ bank accounts. Plaid is regulated by the US Consumer Financial Protection Bureau (CFPB) and is registered with FinCEN as a Money Services Business.
Plaid has also implemented multiple security measures, including 2-factor authentication.
So, are Coinbase and Plaid safe? Yes, they are both regulated by US financial authorities and have implemented multiple security measures.