How safe is Coinbase wallet?

Coinbase sent FOX 35 a statement saying it takes extensive security measures to ensure customer accounts remain as safe as possible, but, ultimately, in many cases, they do not cover “any losses resulting from unauthorized access to Coinbase accounts due to a compromise of a customer’s login credentials.”

Coinbase.com stores your crypto for you after you buy it. You do not need a Coinbase.com account to use Coinbase Wallet. Coinbase Wallet is a self-custody wallet . The private keys (that represent ownership of the crypto) are stored directly on your device and not within a centralized exchange like Coinbase.com.

Coinbase is a hosted wallet service, which means we manage your private keys for you, securing your funds with a password, device confirmation and 2-factor authentication. We take security very seriously at Coinbase and utilize our secure cold-storage technology to protect our customer’s funds .