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Is Coinbase Safe As A Bitcoin Broker To Use?

5/6/2018

Have you already been using Coinbase? Perhaps you are looking at reviews to see what to expect from the broker. If you’re going to invest in Bitcoin, there is no larger broker out there in the entire world. While that should let you know more about the company’s legitimacy, perhaps you are concerned about investing in crypto-currencies to begin with. Let’s look more closely at what to expect if you do invest in digital currencies and use Coinbase.

Is Coinbase safe as a bitcoin broker to use? Learn more

What You Should Know

There are digital currency thieves out there, and you do need to keep that in mind. Crypto-currencies are still fairly new, and that has everything to do with the safety of these types of accounts and transactions. Keep in mind, however, that there are risks when it comes to every investment.

If you were to buy stock in a company, there is a chance that company’s share price drops to 0. It can even happen in one day. Is it likely to happen? No, but it can happen. It’s not likely that your account with Coinbase will be highjacked either, but can it happen? Sure it can happen. In this digital age, anything like that can happen.

The same thing could happen to your bank account online. Back in the day, it was all about cash and in-person transactions. These days, everything is often done digitally, so there are risks to all these types of transactions. That should help you put everything into perspective a little more, but let’s look at what else you might need to know.

More About Coinbase

To let you know more about Coinbase, its headquarters are in San Francisco. It has already been mentioned that it is the world’s largest broker of Bitcoin. You get your own personal Bitcoin wallet. Trusted investors have backed the company, so it has really gained momentum.

There are certainly other Bitcoin brokers to choose from out there. But if you’re wanting to buy Bitcoin, you might as well use the most trusted source. Naturally, a bigger brokerage can be a bigger target for thieves, but they also have extra security measures in place.

Want to know more? Read this Coinbase Review and get even more information before investing!

Security

A company as big as Coinbase isn’t going to want to go under because their customer’s wallets were hacked. They are in the business of making money. Therefore, you know they are going to strive to take care of their customers with precautions such as security, insurance, and bonds (our recommendation). There are still plenty of digital hacks going on these days with reputable companies, but you get the idea. Coinbase is about as safe as you can expect when it comes to buying Bitcoin. If you are overseas and need a quality foreign exchange service to convert your Fiat to another currency Knightsbridge FX is a quality supplier.

Final Words

The company also makes it quite easy to sign up. You provide very little personal information, and you verify your email address. Then you get to add a phone number if you choose, and fund your account. It’s quite simple to use Coinbase if you want to purchase Bitcoin. You just have to decide if you’re going to make this type of investment or not. Personally, digital currencies aren’t for me, but you will decide if they are for you.