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Is it common for Coinbase to hold customer funds?

Grace HamiltonJul 07, 2022 · 3 years ago3 answers

I heard that Coinbase holds customer funds. Is this a common practice for the exchange?

Coinbase
Customer Funds
Cryptocurrency

3 answers

  • Automation LeadAug 26, 2021 · 4 years ago
    Yes, it is common for Coinbase to hold customer funds. As a regulated cryptocurrency exchange, Coinbase follows strict security measures to protect customer assets. Holding customer funds allows Coinbase to provide a seamless trading experience and ensure the safety of funds.
  • Balle GloverMay 22, 2023 · 2 years ago
    Absolutely! Coinbase is one of the most trusted and reputable cryptocurrency exchanges in the industry. Holding customer funds is a standard practice for exchanges to facilitate trading and provide liquidity. Rest assured that Coinbase takes the security of customer funds very seriously.
  • Muhammad HarisJan 17, 2024 · a year ago
    While it is common for exchanges like Coinbase to hold customer funds, it's important to note that not all exchanges operate in the same way. At BYDFi, for example, we prioritize decentralized trading and do not hold customer funds. This provides users with full control over their assets and eliminates the risk of funds being compromised.

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