Coinbase, Exchanges

Is Coinbase Covered by FDIC?

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 was founded in June 2012 by Brian Armstrong and Fred Ehrsam.

As of January 2018, Coinbase had 13.3 million unique users.

Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy & sell Bitcoin, Ethereum, and Litecoin. In this article, we will discuss if Coinbase is FDIC insured.

NOTE: It is important to note that Coinbase, a digital currency exchange platform, is not covered by the Federal Deposit Insurance Corporation (FDIC). As such, customers of Coinbase are not eligible for FDIC protection and any funds stored on Coinbase are not insured by the FDIC. Therefore, it is important for customers to exercise caution when storing digital assets on Coinbase. Additionally, customers should research any other financial service providers that offer digital asset storage services to ensure that their funds are properly protected.

Coinbase is not a bank and is not FDIC insured. However, Coinbase is registered with FinCEN as a Money Services Business.

This means that Coinbase must follow all applicable lAWS and regulations in the US regarding anti-money laundering and countering the financing of terrorism.

While Coinbase is not FDIC insured, it is still a reliable platform for buying & selling cryptocurrencies. Coinbase has built up a good reputation in the cryptocurrency community and has implemented multiple security measures to keep user funds safe.

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