Re: Crypto-currencies
Posted: Mon Jan 08, 2018 3:24 pm
https://support.coinbase.com/customer/p ... e-insured-1911 Raptor wrote:Don’t quote only part of what I said and leave out the proof. My money was taken but it was replaced under current provisions of the bank and card company.OldCannon wrote:You might want to rethink that statement once you understand how your money is "insured" by the FDIC.1911 Raptor wrote:
My bank accounts are protected and insured
Short version: You're going to be mighty disappointed if you think you're gonna get your money back.
Coinbase prioritizes the security of our customer's funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.
Please note that the insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase and GDAX.
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If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.