I finally took my coins out of Coinbase

I have been hodling for several years at this point, and have had "not your keys, not your coins" drilled into my head, but have kept my coins on Coinbase the whole time anyway. I even bought a hardware wallet several years ago but was too nervous to actually transfer my coins to it. I figured a big company like Coinbase is probably better at security than I am, so what's the real risk? A post here last week was what finally pushed me over: pointing out that in bankruptcy, Coinbase could (and probably would) liquidate my coins to pay creditors. While I don't think it's likely that my Coinbase vault would get hacked, I do think there is a much bigger chance for Coinbase to do something dumb on the business side and go bankrupt during some particularly bad market volatility. So I bit the bullet and transferred my coins - other than the excruciating 30 seconds between initiating the send at waiting for it to show up on the other side it was very painless. TL;DR I finally pulled my coins off of Coinbase, and you should too

Submitted May 16, 2022 at 11:39PM by xyzzzzy https://ift.tt/GpqlT5i