Can I still access my cryptocurrency in a Coinbase wallet if Coinbase goes bankrupt?

3 answers

• Hello monkeyOct 19, 2020 · 5 years ago
  If Coinbase were to go bankrupt, your cryptocurrency stored in a Coinbase wallet should still be accessible. Coinbase operates as a custodial wallet, which means they hold your private keys on your behalf. In the event of bankruptcy, Coinbase would still have the ability to transfer your cryptocurrency to another wallet or exchange. However, it's always a good practice to have a backup of your private keys or use a non-custodial wallet to have full control over your cryptocurrency.
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• sanedealerJun 24, 2024 · a year ago
  Don't worry! Even if Coinbase goes bankrupt, your cryptocurrency should still be safe. Coinbase holds your private keys, which means they have control over your funds. In the event of bankruptcy, Coinbase would still be able to transfer your cryptocurrency to another wallet or exchange. Just make sure to keep your login credentials and recovery phrase secure to ensure access to your funds.
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• Paulsen LadefogedJul 30, 2020 · 5 years ago
  In the unlikely event of Coinbase going bankrupt, your cryptocurrency stored in a Coinbase wallet should still be accessible. However, it's important to note that Coinbase is a centralized exchange, and relying solely on their platform for storing your cryptocurrency carries some level of risk. It's always recommended to have a backup plan and store your cryptocurrency in a non-custodial wallet where you have full control over your private keys. This way, even if Coinbase were to go bankrupt, you would still have access to your funds through your private keys.
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