Important! Many do not understand this.
Coinbase insurance does cover up to $250K, but only if you are a U.S. resident. Even in this case, the $250k in their policy refers ONLY to your holdings in fiat, not to your crypto.
Your crypto is insured on a best-effort basis. 1/n
Coinbase insurance does cover up to $250K, but only if you are a U.S. resident. Even in this case, the $250k in their policy refers ONLY to your holdings in fiat, not to your crypto.
Your crypto is insured on a best-effort basis. 1/n
https://twitter.com/DogeBosshere/status/1462564405409992710
Also, it is fundamental to understand that their policy does NOT (I repeat: it does NOT) cover losses resulting from unauthorized access to your account due to a breach or loss of your credentials.
help.coinbase.com/en/coinbase/ot…
#dogecoin
2/n
help.coinbase.com/en/coinbase/ot…
#dogecoin
2/n
Finally, in terms of holding large amounts of Doge on Coinbase, like for any other exchange, we do not know what they do with the #dogecoin/crypto you are holding in their coffers.
They could be lending a portion of it to liquidity providers - many think this is the case. 3/n
They could be lending a portion of it to liquidity providers - many think this is the case. 3/n
Even if you think "my Dogecoin is not much", it does add up. Even "just" 100k in Dogecoin, used with leverage and with the tools speculators have access to, can do a lot of damage to the price action.
4/4
4/4
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