Coinbase: Is it Safe and Reliable for Your Crypto Investments?

Coinbase is one of the largest and most well-known cryptocurrency exchanges in the world which is used by millions and millions. The numerous interactive features of the platform attract both professionals as well as novice users; however, the most crucial question that people wonder is: Is Coinbase safe and reliable?

If you are also interested in starting your journey in the digital world of investments then, it is very important for you to know about Coinbase and whether this platform is the place for you to do the same.

Coinbase: A Trustworthy Platform?

Fortunately, Coinbase is a platform which has implemented numerous security measures to make this platform safe and secure for its users. The brilliant and robust security features on the platform protect the data as well as funds of users.

Cold Storage

Cold Storage is a very useful addition to the platform as this place is used to secure a huge amount of funds. More than 90% of users' assets and funds are stored in this offline storage making it inaccessible to hackers and scammers who try to steal user’s information.

Two-Factor Authentication

Another feature which adds an extra layer of security to the application is 2FA which means that users need to verify their accounts by a secondary method. This can either happen via OTP, fingerprint, or any other measure but the implementation of the feature ensures that no one else can access your account without your permission.

Data Encryption

All the data available on the application is encrypted using advanced methods which protect and preserve it. It is impossible for anyone to access this data without proper authorization. Additionally, the same method is also used to secure and encrypt your transactions.

Is Coinbase Legitimate and Authentic?

Now that you are familiar with the brilliant security measures of this platform, we are also going to tell you: Is Coinbase legit? The platform is considered legitimate as it operates under the regulatory framework of numerous jurisdictions in the work making it completely legal. Take a look at the different countries where you can use Coinbase without any trouble.

United States

The platform has a BitLicense in New York and has been officially registered as a Money Services Business (MSB) with FinCEN which means you can easily use this platform in the United States of America.

European Union

All the countries in the European Union recognize Coinbase as a legal and authentic platform as it has been licensed as an e-money institution by the Central Bank of Ireland.

United Kingdom

The platform can also be used in The United Kingdom considering it has been regulated by the Financial Conduct Authority (FCA) which provides licenses to digital businesses and trading platforms.

There are many other nations including Canada and Australia where users can easily use this platform to invest in cryptocurrency and trade it. Coinbase has established a very strong reputation in the crypto industry owing to its seamless navigation and the impressive number of services that it provides. Although the platform is safe, it is also important to be careful and understand all the terms and conditions before you start using it.