Cryptocurrency Q&A
Is Coinbase FDIC insured?
Is Coinbase FDIC insured?
Giulia
Wed Sep 04 2024
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7 answers
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Could you please clarify for me if Coinbase is insured by the Federal Deposit Insurance Corporation, or FDIC? I'm interested in understanding the level of protection that my cryptocurrency holdings would have if I choose to store them on this platform. Are there any specific measures in place to safeguard customer funds, or is this a question that would depend on the type of account or wallet I choose to use on Coinbase? I appreciate your insight into this matter.
7 answers
benjamin_brown_entrepreneur
Thu Sep 05 2024
Coinbase operates without the backing of the Federal Deposit Insurance Corporation (FDIC), a crucial safety net for traditional banks.
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PhoenixRising
Thu Sep 05 2024
In the event of a covered security incident, Coinbase is committed to working with its customers to minimize any financial harm they may experience.
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EtherWhale
Thu Sep 05 2024
Cryptocurrency investments, unlike traditional assets, do not enjoy the insurance or guarantees provided by the FDIC or Securities Investor Protection Corporation (SIPC).
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ethan_thompson_journalist
Thu Sep 05 2024
Among the top cryptocurrency exchanges, BTCC stands out for its comprehensive range of services.
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Silvia
Thu Sep 05 2024
Investors in cryptocurrencies should be aware that their holdings are not protected against potential losses in value.
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