Post
Topic
Board Bitcoin Discussion
Re: Why is cold storage better than coinbase?
by
Garant581
on 03/01/2021, 12:44:33 UTC
It seems most bitcoiners prefer cold hardware wallets over online platforms but why is that? Considering platforms like coinbase are FDIC insured and have the best security in the business, it seems much riskier to try to secure my bitcoins on my own. I feel my house burning down or some other accident destroying my wallet is much more likely than losing it on Coinbase. And if there is a breach in coinbase, I get it back... so what am I missing?? While I’m not new to owning bitcoin, I am new to learning about it. So I apologize if this is an annoying newb question.

I did not know about insurance before, but I myself kept the cryptocurrency in the cold Trezor wallet, because I always believed that there was no way to get to it. It's funny that practically without dealing with cryptocurrency for 1.5 years, I even forgot how to create a bitcoin wallet ... Today it was a serious task for me!))