Can I trust Coinbase's FDIC insurance coverage?

3 answers

• Dec 17, 2021 · 3 years ago
  Coinbase provides FDIC insurance coverage for USD balances up to $250,000 per customer. This means that if Coinbase were to fail, your USD funds held in Coinbase would be protected up to the specified limit. However, it's important to note that FDIC insurance does not cover digital assets such as cryptocurrencies. So, while your USD funds are insured, your digital assets are not.
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• Dec 17, 2021 · 3 years ago
  Yes, you can trust Coinbase's FDIC insurance coverage for your USD funds. The FDIC is a reputable government agency that provides insurance for bank deposits. Coinbase is a regulated and licensed cryptocurrency exchange, and they have taken the necessary steps to ensure the safety of their customers' funds. However, it's important to understand that FDIC insurance does not cover digital assets, so you should take additional security measures to protect your cryptocurrencies.
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• Dec 17, 2021 · 3 years ago
  As an expert in the field, I can confirm that Coinbase's FDIC insurance coverage is reliable for USD balances. The FDIC is a well-established institution that provides insurance for bank deposits, and Coinbase is a reputable exchange that has implemented strong security measures. However, it's crucial to understand that FDIC insurance does not extend to digital assets. To protect your cryptocurrencies, it's recommended to use hardware wallets or other secure storage solutions.
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