Coinbase owns your coins in case of bankruptcy
Yet another reason to get your coins off of custodial wallets and centralized exchanges. Coinbase has the right to your funds in the case of bankruptcy/insolvency!!! https://www.reddit.com/r/Monero/comments/uncgx6/it_has_never_been_more_important_to_get_your/
reddit
No regulation? No problem 🤡
Any hardware wallet recommendations?
I have ledger and it's been fine, can't speak for any others. DYOR ofc
WAGMI
Wow, that sucketh
That's a regulatory thing. Coinbase just pointed out there's no precedent to it and all assets may be part of bankruptcy litigation however unlikely that a) bankruptcy would occur and b) assets would be part of bankruptcy proceedings
> Trust us bro, its just legal mumbo jumbo but it'll never happen
So what's the easiest way to avoid the risk here? I don't need to buy a hardware wallet right? Isn't there an app I can download that will give me my own wallet (hopefully with secret keys guarded by just a normal password)? What's the best app for this?
The best way to avoid the risk here is to not own any crypto. Problem solved. LOL!
It depends on the crypto you have. Search "X crypto non-custodial wallet" where X is Bitcoin/monero/Ethereum/etc
Think that's centralized? Have a look at OpenSea, lol. The whole defi thing is a joke.
Indeed. Moxie's article on it was illuminating