Are Coinbase accounts insured by the FDIC?

3 answers

• May 06, 2022 · 3 years ago
  Yes, Coinbase accounts are insured by the FDIC. The FDIC provides insurance coverage for up to $250,000 per depositor, per account category, in case of bank failures. This means that if Coinbase were to fail, your funds held in Coinbase accounts would be protected up to the specified limit.
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• May 06, 2022 · 3 years ago
  No, Coinbase accounts are not insured by the FDIC. The FDIC only provides insurance coverage for traditional bank accounts, such as checking and savings accounts. Since Coinbase is not a bank, it does not fall under the FDIC's insurance coverage. However, Coinbase takes extensive security measures to protect user funds, including holding the majority of customer funds in offline cold storage.
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• May 06, 2022 · 3 years ago
  While Coinbase accounts are not insured by the FDIC, they do provide their own insurance coverage through a separate policy. Coinbase holds a significant portion of digital assets in secure offline storage, known as cold storage, which is not connected to the internet. In the unlikely event of a security breach, Coinbase's insurance policy would cover any losses.
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