What you need to be concerned about is if coinbase fails for totally normal business reasons and they halt all transactions, what rights do you have? With real

What you need to be concerned about is if coinbase fails for totally normal business reasons and they halt all transactions, what rights do you have? With real banks, there are pretty clear pecking orders for creditors vs depositors and depositors have FDIC to cover at least some in the worst disasters. Would you have higher priority in getting your own coins back over senior debt holders? “Not your keys, not your coins” is exactly what it sounds like. You really have no say at all in how the above scenario plays out. There have been a hundred+ years of laws to figure out how to give rights to cash, bonds, equities to people who have them held by an institution. That hasn’t happened with crypto.