Is SIPC insurance available for all cryptocurrencies on Coinbase?

3 answers

• Apr 30, 2022 · 3 years ago
  Yes, SIPC insurance is available for all the cryptocurrencies you hold on Coinbase. SIPC stands for Securities Investor Protection Corporation, and it provides limited protection to customers in the event that Coinbase fails. However, it's important to note that SIPC insurance does not cover losses due to market fluctuations or theft of your cryptocurrencies. It only covers the custodial assets held by Coinbase. So while SIPC insurance provides an extra layer of protection, it's still important to take additional security measures to safeguard your cryptocurrencies.
  572

  286
• Apr 30, 2022 · 3 years ago
  No, SIPC insurance does not cover all cryptocurrencies on Coinbase. SIPC insurance only covers the custodial assets held by Coinbase, which include cash and securities. Cryptocurrencies are not considered securities and therefore are not covered by SIPC insurance. However, Coinbase does have its own insurance policy to protect against losses due to security breaches or theft of cryptocurrencies. It's always a good idea to review the insurance coverage provided by Coinbase and understand the limitations and exclusions.
  523

  175
• Apr 30, 2022 · 3 years ago
  SIPC insurance is available for all the cryptocurrencies you hold on Coinbase. It's important to understand that SIPC insurance is not the same as FDIC insurance for traditional bank accounts. SIPC insurance provides limited protection in the event that Coinbase fails, but it does not cover losses due to market fluctuations or theft of your cryptocurrencies. It's always a good idea to diversify your holdings and consider storing a portion of your cryptocurrencies in a secure offline wallet for added security.
  514

  129