How safe is the Coinbase app for crypto investors?

Crypto exchanges play a vital role in the crypto trade. There are numerous exchanges launched that provide investors with trade activities and options. One among them is Coinbase. You might even know about it, but through this document, we will try to learn about its app.

The Coinbase app has been launched to facilitate crypto investors with ease and let them trade conveniently through a platform that falls within their reach and is easy to manage. Executing trade activities through the web using a computer/laptop sometimes becomes quite hard due to its lack of portability or additional efforts involved in carrying them. But, with a mobile app, you need not to look at this aspect. We all do carry cell phones with us everywhere we walk. Right??

Considering this case, the team working on Coinbase decided to introduce a mobile app, compatible to work with both Android and iOS as well. The Coinbase app has become highly popular among investors due to the added convenience and advanced trading tools. The app contains all the trading activities that are favorable for novice investors. On the other hand, it does support complex trading activities that are suitable for advanced crypto traders.

The perks of the Coinbase app

After having a brief look at the app, its now time to learn some of the top perks of the app that has convinced the users to go with it, and they are:

• Get in touch with the support team anywhere and at anytime

• Check out the trading fluctuations and market movements anytime

• Raise the bars of security by enabling the biometric authentication

Having a check at the security parameter of the Coinbase app…

The app is considered safe, as the sole authority to manage the private keys rests with the wallet owner only. With this practice, the team ensures that all the data of the app can only be reviewed by the app owner. Further, you can even enable biometric authentication to set up high-security walls. No doubt, the exchange is not protected by the FDIC or SIPC, yet the platform ensures that a certain portion of the digital assets of its users is covered under crime insurance. This practice was adopted to prevent the assets against losses from thefts, cybercrimes, etc.

The exchange has to face certain customer concerns after the release of the statement by it. The released statement reads that if the exchange ever faces some serious financial trouble then the assets of the investors with the exchange might go on the path toward bankruptcy proceedings. This become a hot topic of the time and investors become worried about the assets that they were holding with the Coinbase exchange.

Thus to retain the investors and expand its userbase network, the team decided to work on the security and financial stability of the assets that the investors are holding. By adopting healthy practices, the exchange succeeded to retain the existing investors and securing new investors.

Final Take

In a nutshell, we can conclude that the Coinbase app is secure and good to go. With its simplicity and security through the private keys, it is ranked among the top picks of investors, be they are novice or experienced. Moreover, in case of any doubt or guidance, the investors without any hesitation can reach out to the customer service team of the exchange around the clock. The concerned team is equipped with knowledgeable staff and is committed toward showing the right path to investors on any query relating to the crypto trade.