Post
Topic
Board Bitcoin Discussion
Re: Is keeping your money on Coinbase really that bad?
by
audaciousbeing
on 26/04/2018, 13:53:28 UTC
TDIL Coinbase insures money lost from physical security, cyber attacks, and employee theft. they keep 98% of their funds offline. So back to my original point, is it really that important to keep your money off exchanges if they offer insurance and you personally make sure that your account isnt vulnerable to phone attacks? https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

Its really not bad until you wake up one morning and decide to check your balance on their website only to realize that its not going. The you decide to search all over the internet to know if you are the only one facing the same problem but nothing is coming up before you decide to visit the forum to realize that something terrible has happen and you begin to console yourself about the hope of whatever is going to happen next and the worst of all, is that the office of the site is not somewhere you can just enter the bus, train or plane to land the next day for you to see things yourself.

The above is the exact scenario of every one time all secured site have been without anything happening. If you are thinking they keep 98% offline is a lie because doing that would mean there would be liquidity issue and again, even when insurance is certain, there is no way you get the full amount because of the proration that would be done couple with the time you will have to wait for all the verification to be completed before disbursements. The best is to keep your funds yourself.