Ran into this news early morning today that based on the worse earnings , coinbase is warning that bankruptcy can wipe out all users crypto !! Is it time to move all our crypto to personal wallet ? Which wallet you guys would recommend. https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/
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Buy a ledger wallet
Anyone have a referral discount code?
This is basically them telling the people it’s happening
No deposit insurance on a digital bank. Good thing they don't issue loans
Not even close. It was a required SEC disclosure related to custodial crypto holding, which the article states. CB isn't anywhere close to bankruptcy, check our balance sheet. If you're super worried, you can just keep your crypto in Coinbase wallet (which is not custodial) or any other wallet.
If coinbase goes bankrupt crypto will crash anyway so it doesn’t matter where you move it lol
Doesn’t PayPal do crypto?
PayPal got into crypto because everyone is doing it there’s no deeper knowledge. And its good business until people are buying and we make the “gas fees”. There have been cases where paypal blocked accounts of lotttery winners in the name of security so wont count on it.
is this only for coinbase since it’s public? what about private exchanges like kraken, okcoin, etc
They’re more on the quadrigaCX path
Same shit. I got burned when my exchange cryptopia got "hacked" and went bankrupt.
Lose
Come to PayPal
I tired to do this in the app and man the ux sucks. I still can't find how to open a wallet on the pp app.. Edit: Apparently you can't move crypto into pp only buy with pp. Well that is worthless :(
Yeah paypal just wants to sell and make money, transfering adds risk they dont want
That’s why we have FDIC for normal bank deposits. Thought you guys wanted DeFi, this is what DeFi looks like wild Wild West man!!!!
The problem is this isn't defi. Defi is keeping it in your own wallet. Coinbase reconsolidates the defi so you end up back where you started without protections.
Yea nobody knows that all the cryptos are in coinbase’s wallet hence low exchange fee. Freaking gas fee of sending crypto from one wallet to another would have killed trading altogether. But most people don’t bothers to understand that.
Didn’t I tell you crypto and blockchain are scams?
Gemini?
Withdraw!
where ?
Air gapped computer with wallet for cold storage