What is the insurance policy offered by Coinbase for digital currencies?

3 answers

• smokeflypaperMay 30, 2021 · 4 years ago
  Coinbase offers an insurance policy to protect digital currencies held in their online storage. This policy covers losses due to hacking, employee theft, or physical security breaches. It provides coverage for both hot wallets (online) and cold storage (offline) holdings. The insurance policy is underwritten by a syndicate of leading insurance companies and provides coverage up to a certain limit. However, it's important to note that the insurance policy does not cover losses due to individual account breaches or unauthorized access to user accounts. It is always recommended to enable two-factor authentication and take additional security measures to protect your digital assets.
  687

  344
• ericFeb 19, 2022 · 4 years ago
  When it comes to the insurance policy offered by Coinbase for digital currencies, you can rest assured that your funds are protected. Coinbase has taken extensive measures to secure their platform and offers insurance coverage to safeguard against potential risks. This policy covers a range of scenarios, including hacking, insider theft, and physical breaches. However, it's important to note that the insurance policy does not cover losses due to individual account breaches or unauthorized access. To ensure the safety of your digital currencies, it's recommended to follow best security practices and enable additional security features provided by Coinbase.
  663

  221
• Peele DominguezSep 27, 2024 · a year ago
  Coinbase, one of the leading cryptocurrency exchanges, provides an insurance policy to protect digital currencies stored on their platform. This policy covers losses due to hacking, theft, and physical security breaches. However, it's important to note that the insurance policy has certain limitations and does not cover losses resulting from individual account breaches or unauthorized access. To enhance the security of your digital assets, it's advisable to enable two-factor authentication, use strong passwords, and regularly update your account settings. By taking these precautions, you can have peace of mind knowing that your digital currencies are protected by Coinbase's insurance policy.
  700

  175