How safe is coinbase for your Bitcoins?

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Not everyone is familiar with the new cryptocurrency San Francisco based startup is known as Coinbase. With cryptocurrency being the new sensation across the globe, a lot of concern has arisen regarding the security and safety of the largest bitcoin exchanges. The consensus today is unanimous that Bitcoin is a new reality. Other cryptocurrencies are much easier to mine and cost way less to buy. What surprises many are the endless predictions of an impending doom that never seem to materialize. The resilience displayed by Bitcoin makes it stand out as the most popular cryptocurrency worldwide.

However, this does not mean you should go out a Bitcoin buying rampage. Any wrong move and you will be a victim of cyber theft. Apart from the entry cost, there are some events that have happened recently that prove that the Bitcoin wallets and payment services are exposed to security risks. It would be of help to get more information from coinbase review online to be guided by your decision.

Advantages of coinbase

 

This new platform can be used in several currency zones, most notably the euro, dollar and British pound. All it takes is an ID verification and you can purchase up to $1000 worth of bitcoins by simply swiping your credit card. It also opens up other cryptocurrency purchase options such as Ethereum, a popular rising cryptocurrency. Coinbase has two types of wallets: the simple beginners’ option that stores coins and its multi-signature vault that requires advanced users to manage the security of their wallet keys themselves. This means that if coinbase were to vanish miraculously, the users will still be able to control their Bitcoins.

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Security guaranteed

 

Coinbase insures all deposits made on their platform. This means if your password is hacked and your coins are stolen, this will be covered by your insurance policy. The best way to get out of this situation is to use long and unique passwords. Most positive coinbase reviews mention cryptocurrencies to users who use wallets that are fast and easy. Accumulated backlog on the Bitcoin network will allow users to carry on with off-chain transactions which are a great feature. There will be no instances of idle time waits or confirmations.

Link your account

 

Users’ also have the opportunity to link credit cards to their account. For instance, Shift Card. Payments for purchases can be made using the balance in your Coinbase account. The system operates in real time, converting your coins into dollars at the exact rate of purchase. The company is still looking at ways of expanding this service across the globe.

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Get in touch

 

This is one of the few exchanges that have a direct telephone customer care line where all your queries can be met.

Reputable

 

Coin base reviews reveal how it remains one of the best places for early beginners to acquire their first bitcoins. The company will receive many recommendations that touch on a large number of investments that guarantee unrivalled user interfaces and experiences. When ramping up your existing infrastructure, you do not need any unnecessary friction. Having sealed formidable partnerships with leading investors, this Coinbase review strongly defends its credibility.