is the money insured in any way? this would be terrible to be one of the ones hacked and have no recourse
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is the money insured in any way? this would be terrible to be one of the ones hacked and have no recourse
No insurance, that's why it's important to keep our money of the exchanges :)
but then how could you ever hold bitcoin or litecoin ? you'd have to be transferring it to cash
I think you are missing something here, so I will try to explain.
You must differentiate between an exchange and a wallet.
An exchange is where you buy and sell cryptocurrency i.e. a market.
A wallet is just what it says a wallet i.e. a place to store value.
The problem is that exchanges get hacked, and wallets don't get hacked.
So move your crypto to a wallet, and the problem is fixed :)
There's no need to transfer to cash.
thank you. but just having it sit on coinbase, isn't that using my coinbase wallet?
You are welcome :)
Coinbase is still an exchange regardless of them having a wallet. I would place them somewhere else.
like where? thank you
Haven't you read the post? Look at my list lol :)