how is coinbase insured

Coinbase's multi-layered insurance policy provides up to $255 million in coverage for theft, fraud, and criminal acts, while its USD balances are protected by FDIC insurance for up to $250,000 per depositor.

Oct 29, 2024 at 09:20 am

How is Coinbase Insured?

Coinbase, one of the largest cryptocurrency exchanges in the world, takes a number of steps to protect its customers' assets, including providing insurance coverage. Here's how Coinbase is insured:

1. Cryptocurrency Insurance

Coinbase holds a commercial crime insurance policy that covers losses resulting from theft, fraud, or other criminal acts. This policy provides coverage for up to $255 million in losses.

2. FDIC Insurance (for USD Balances)

Coinbase's USD balances are held in US banks that are members of the Federal Deposit Insurance Corporation (FDIC). FDIC insurance covers up to $250,000 per depositor per bank, which means that Coinbase's customers are protected in the event that a bank fails.

3. Cold Storage

Coinbase stores the majority of its cryptocurrency assets in offline cold storage. This means that these assets are not connected to the internet, making them less vulnerable to hacking and theft.

4. Secure Custodian Relationships

Coinbase partners with a number of third-party custodians, such as Fireblocks and BitGo, to store its cryptocurrency assets. These custodians are responsible for securing and protecting these assets.

5. Regulatory Compliance

Coinbase is a regulated company that complies with all applicable laws and regulations. This includes adhering to anti-money laundering and know-your-customer (KYC) requirements, which help to prevent criminal activity and protect customer assets.

Additional Security Measures

In addition to insurance coverage, Coinbase also employs a number of other security measures to protect its customers' assets, including:

Two-factor authentication
Encrypted communication channels
Regular security audits
Incident response plans

By taking these steps, Coinbase provides its customers with a high level of protection for their cryptocurrency assets.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

LOOM

$0.0412

63.08%

Trade Now
OBT

$0.0171

62.24%

Trade Now
PIXEL

$0.0471

53.17%

Trade Now
AUDIO

$0.0919

41.99%

Trade Now
WHITE

$0.0...06682

40.29%

Trade Now
GFI

$0.9110

37.37%

Trade Now

Latest Crypto News

Coinbase Listing Sparks Speculation Tied to Trump’s SEC Pick
2025-04-22 12:40:11
Hyperlane testnet successfully launched on Binance Wallet & Binance HODLer App.
2025-04-22 12:40:11
The Bitcoin price rise to $87,000 created contrasting profitability outcomes between investors in the market.
2025-04-22 12:35:12
Base chain daily coin issuance exceeds Solana
2025-04-22 12:35:12
From Sony's new web3 project to new updates from Bybit, here's a roundup of the top crypto stories you may have missed.
2025-04-22 12:30:11
Decentraland [MANA] Breaks Key Overhead Resistance, Surges by 8% Within a Day
2025-04-22 12:30:11

Related knowledge

Does SOL trading support DEX (decentralized exchange)?

Apr 19,2025 at 05:21am

Solana (SOL), a high-performance blockchain platform, has gained significant attention in the cryptocurrency community for its fast transaction speeds and low fees. One of the key aspects that traders and investors often inquire about is whether SOL trading supports decentralized exchanges (DEXs). In this article, we will explore this topic in detail, p...

How to choose a reliable SOL trading platform?

Apr 21,2025 at 12:07am

Choosing a reliable SOL trading platform is crucial for anyone looking to engage in trading Solana (SOL) cryptocurrency. With the growing popularity of Solana, numerous platforms have emerged, each offering different features and levels of security. This article will guide you through the essential factors to consider when selecting a reliable SOL tradi...

On which platforms can SOL be bought and sold?

Apr 21,2025 at 10:22am

Solana (SOL) is a popular cryptocurrency known for its high transaction speeds and low fees, making it a favored choice among crypto enthusiasts. If you're looking to buy or sell SOL, there are several platforms where you can do so. In this article, we will explore the various platforms that support the trading of SOL, ensuring you have a comprehensive ...

How to buy SOL on an exchange?

Apr 20,2025 at 01:21am

Introduction to Buying SOL on an ExchangeSOL, the native cryptocurrency of the Solana blockchain, has garnered significant attention in the crypto world due to its high throughput and low transaction costs. If you're interested in adding SOL to your investment portfolio, buying it on a cryptocurrency exchange is one of the most straightforward methods. ...

How to sell TRX on OKX?

Apr 18,2025 at 11:07pm

Selling TRX on OKX is a straightforward process that can be completed in a few simple steps. This article will guide you through the entire process, ensuring that you understand each step thoroughly. Whether you are a beginner or an experienced trader, this guide will help you navigate the OKX platform with ease. Preparing to Sell TRX on OKXBefore you c...

How to trade TRX on Bybit?

Apr 20,2025 at 04:15pm

Trading TRX on Bybit can be an exciting venture for both new and experienced cryptocurrency traders. Bybit, known for its robust trading platform and user-friendly interface, offers a variety of features that can help you trade TRX effectively. In this guide, we'll walk you through the essential steps and tips to successfully trade TRX on Bybit. Setting...