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I sincerely hope that Coinbase will survive and thrive through the difficult times in the next several years. They made trading cryptocurrencies easy and access
by g42gregory 4y ago
I sincerely hope that Coinbase will survive and thrive through the difficult times in the next several years. They made trading cryptocurrencies easy and accessible to people, which is a fantastic service. However, if you are a customer, I would highly recommend that you used Coinbase for intended purpose only: as a (pretty good) Crypto Exchange. Do not keep your crypto holdings there. Your crypto is not protected if something, anything, happens to it. Including bankruptcy. It's not a custodial service. I would not keep the USD there either. I would just go in, do the crypto buy/sell and get out.
- aaaaaaaaata 4y agoBut where are you recommending people custody their crypto, then? And the backups?
- runjake 4y ago1. In their own wallets that they control. 2. Backup key in a safe, secure, offline space. These answers might scare you. They probably should. This statement should not be misconstrued as anti-crypto.
- StanislavPetrov 4y agoOn your own hardware, in your own safe.
- speedgoose 4y agohttps://xkcd.com/538/ https://xkcd.com/538/
- ezekg 4y agoWorth mentioning: you don't own the coin unless you store the private key yourself.
- schlauerfox 4y agoBetter custody technology https://odysee.com/@Chia:d/off-the-chain-Bram-Cohen-2022:5 https://odysee.com/@Chia:d/off-the-chain-Bram-Cohen-2022:5
- str3wer 4y agothis without considering they're actively trying to kill the anonymity of crypto by funding chainanalysis and other shit like that
- g42gregory 4y agoI think chainanalysis would be (and is) funded without Coinbase a thousand time over by VCs and every Government agency. This is unfortunately (or fortunately, who knows?) an inevitability. Every time I say "inevitability" and remember "That is the sound of inevitability, Mr. Anderson..." phrase. :-)