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Coinbase is FDIC insured.
by dumbfounder 8y ago
Coinbase is FDIC insured.
- will_brown 8y agoBut do you know what that covers? Coinbase supports wallets for USD...is it only USD wallets that are FDIC insured?
- snikeris 8y ago* Your USD wallet at Coinbase is FDIC insured.
- dumbfounder 8y agoYikes, that is indeed a very important distinction that I missed. https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured- https://support.coinbase.com/customer/portal/articles/166237...
- wyldfire 8y agoYes but it's important to note that the FDIC insurance is only for your USD-denominated balance. Your BTC (or all crypto?) balance is insured by Lloyd's. I assume this is only insured against thefts/failures of Coinbase's, so if your balance were stolen by attackers who had your Coinbase credentials I suspect your balance would not be covered. But this might be similar to your liability from normal online banking fraud/theft? The fact that Coinbase pays those private insurance premiums makes them the no-brainer suggestion to people who are considering holding some BTC.