It’s no secret that crypto exchanges like Coinbase are under constant attack from hackers. In the past year alone, there have been several high-profile hacks of exchanges like Binance, Bitfinex, and Kucoin. So, it’s natural to wonder: is it safe to add your bank account to Coinbase?
The short answer is: yes, it is safe to add your bank account to Coinbase. The exchange uses state-of-the-art security measures to protect your account and funds.
In addition, Coinbase is insured against loss or theft, so you can rest assured that your money is safe.
That said, there are a few things you should keep in mind to minimize your risk of being hacked. First, never store more money on an exchange than you need to.
Second, always enable two-factor authentication (2FA) on your account. This will help protect your account even if someone manages to steal your password.
In conclusion, yes, it is safe to add your bank account to Coinbase. The exchange uses industry-leading security measures to protect your money and has insurance in case of loss or theft.
However, you should still take steps to minimize your risk of being hacked by only storing what you need on the exchange and enabling 2FA on your account.