I’m curious about how Coinbase ensures the safety of our investments. Can someone explain what specific security measures they have in place that make it a trustworthy platform for trading and holding cryptocurrencies? I’m especially interested in any advanced protocols or encryption methods they use to protect against hacking and fraud. Thanks!
Honestly, it’s their insurance policy that sold me. Knowing my assets are protected in case of a security breach makes me feel much safer.
That’s reassuring to hear. Do you know if that insurance covers all types of assets on their platform?
It does, but it’s worth noting that it mainly covers losses due to Coinbase’s infrastructure. Your personal account security is still your responsibility.
Right, that’s why I also use strong unique passwords and enable 2FA. Can’t be too careful these days.
Good point. I’ve read about their cold storage too. Does anyone know how much of our funds are stored offline?
Last I checked, Coinbase said they store 98% of customer funds offline, which is pretty impressive.
Definitely. Plus, they’re US-based and follow strict regulatory guidelines, adding another layer of trust.
Thanks, everyone. This info really helps. I feel more confident about using Coinbase now.
I remember reading about their cold storage practices, which means most of our funds aren’t even online. That’s a huge relief, considering the hacking stories you hear these days.
And don’t forget, they’re compliant with all the current regulations. That’s not something to overlook when it comes to feeling secure about where you’re putting your money.
Regular security audits аnd compliance with regulations ensure they continue on top of any threats.
They use multi-signature wallets to enhance security layers.
Regulatory compliance adds a layer of financial safety.