Coinbase Cold Storage Service: Vault

Sleep Well Knowing Your Digital Currency Is Safe

Digital currency wallets are great for day-to-day spending, but storing large amounts of digital currency for the long term requires extra security. If you have a Coinbase account and not actively trading your cryptocurrency and plan to store your investment in your Coinbase account long-term, you should strongly consider making use of a Vault. Vault is an offline storage service where 98% of digital currency is stored totally offline, in geographically distributed safe deposit boxes and physical vaults. Vaults require multi-email approval to start a withdrawal, and the withdrawal itself has a 48-hour time delay, during which you can cancel the withdrawal at any time if you change your mind or if the withdrawal was initiated by an unauthorized party. Setting up a Vault is simple and easy, you can find more information about the process here.

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Responses

  1. Hi,
    Are you “supporting” this as a good option? Just as safe as personal keys? Are the coins insured there? Did you find information on any fees associated with this- like a fee to move it into or out of the vault as well as any monthly maintenance? I had tried looking into it before but had been not able to find that information printed anywhere.
    Thank you-
    KZim