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One of the posters below pointed out that coinbase is FDIC insured (fiat) and insured in general (crypto). What's your take?
by Mouse47 9y ago
One of the posters below pointed out that coinbase is FDIC insured (fiat) and insured in general (crypto). What's your take?
- quickthrower2 9y agoI don't know how good those insurances are. I assume FDIC is good. Although you'd have less of a 'reason' to keep fiat on an exchange unless you are trading. For the crypto - well it depends on the insurance I can't really say how effective it would be. I'd worry it would pay out in fiat what the coin was worth at the time, which could be disappointing during a rally, plus you have to wait for the payout, plus it might be a taxable event? And of course the insurance may just not pay out. What if they decide it was your fault your coins were lost?