Coinbase is a giant of a company in the cryptocurrency world. It started as an exchange, then brought in a merchant payment software, and now we have the Coinbase wallet, or, as Brian would want you to call it; the Coinbase Vault.
Basically the “Coinbase Vault” is a web hosted bitcoin wallet that provides top notch security and facilitates safe transactions for bitcoin users. Coinbase has a tremendous amount of resources, and you expect that anything they touch must turn into gold, and it was no different about the Coinbase Vault.
One of the major things about Coinbase is that bitcoiners may perform transactions over the bitcoin network. Also, charges are ridiculously low.
Coinbase wallet has a rigid security wall from the Google Authenticator that provides 2FA login and also you may incorporate the Multi-sig functionality. The multi-sig feature allows you to involve multiple people for confirmation of transactions. In short, multi-sig only allows a transaction through after approval from a set number of people, and so, all chances for fraud are eliminated.
The wallet gives you control of your private keys. The keys are created and encrypted in the browser. And the wallet makes it easy to find co-signers.
As you may know, cold storing bitcoins is the best possible way to safeguard your digital wealth.
About 95% of customer wealth is kept in geographically distributed safe deposit boxes and physical vaults. This means hackers have been effectively handed off.
To ensure maximum safety of customer accounts, Coinbase puts a restriction on the frequency of withdrawals from your vault.
Generally, fraud activity in an account tends to be characteristic of multiple withdrawals. In order to discourage fraud, you can make a follow-up withdrawal about two days after the first withdrawal.
It seems to me that the wallet has been designed by a team of developers who knew what they were doing. It is extremely easy to get around.
Coinbase wallet is something even your grandma would love.
It’s a yes from us.
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