Coinbase, Exchanges

Is It Safe to Keep Assets on Coinbase?

It is safe to keep assets on Coinbase. However, there are a few things to keep in mind when doing so. First, Coinbase is a custodial exchange, meaning that it holds your private keys for you. This means that if Coinbase were to be hacked, your funds could be at risk. Second, Coinbase is not insured by the FDIC like traditional banks are.

NOTE: WARNING: It is not recommended to keep large amounts of assets on Coinbase. Coinbase is a crypto-currency trading platform and is not insured. As such, there is a risk of loss if a hacker attempts to access your account or if the platform experiences any kind of technical problem. If you choose to keep your assets on Coinbase, it is recommended that you limit the amount and regularly transfer funds out of the account.

This means that if Coinbase were to experience financial difficulties, your funds could be at risk. Finally, it is important to remember that cryptocurrency prices are volatile and can fluctuate rapidly. This means that the value of your assets on Coinbase could go up or down unexpectedly. Overall, Coinbase is a safe and secure platform to use for buying, selling, and storing cryptocurrencies.

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