Should I move my crypto out of Coinbase?
I was planning to leave everything in there to make filing taxes easier if I ever sell but with the risks of Crypto exchanges going down and not allowing withdrawals, should I transfer all my crypto to my hardware wallet now?
Would be very nervous. These exchanges are falling like dominos
Always hardware wallet. Plenty of tax calculator apps.
You’re safe. Coinbase is public, they have financials that are audited by kpmg professionals. They have plenty of cash to go through crypto ups and downs. I wouldn’t worry at all. They don’t go behind and invest customers funds without knowing like FTX did. Every single transaction is audited. If there is an exchange that’s safe it’s coinbase. But still if you are skeptical you can move it to a hardware wallet but those things are expensive to buy and you better never loose the seed phrase.
Are these kpmg professionals better qualified than those in Arthur Andersen? If so, in what ways?
EY was Nikola's auditor before the fraud news came out. Having a big 4 auditor is nothing more than a check box and not an indication of clean bill of health. Coinbase has already indicated it might move out of US.
Move it to ledger
Best option is to sell. Second best option is to get it into your own hardware wallet. Coinbase is not an outright fraud like Binance. But once Binance freezes withdrawals - it is just a matter of time for this to happen - crypto prices will collapse. And that event will put Coinbase and all other exchanges out of business as well. And as Coinbase terms clearly say, in case of a bankruptcy, you become a creditor during the bankruptcy proceedings, and are not entitled to your crypto.
You should have sold it 2 months ago. Coinbase is the next domino in the line of FTX, Binance etc.
So should I move it out or sell it?
Sell > Move > Do nothing