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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
byshadowrat ( 1069614 ) writes:
I get that there is one coinbase wallet that holds all the funds. I don't get how its that much different from something like an etrade, or any custodial account. are all these things subject to the same whims?
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bymcl630 ( 1839996 ) writes:
I get that there is one coinbase wallet that holds all the funds. I don't get how its that much different from something like an etrade, or any custodial account. are all these things subject to the same whims?
Brokerage accounts (like etrade) are insured by the SIPC. The SIPC insures any cash you have in your brokerage account up to $250,000 (like the FDIC does for bank accounts). The SIPC also insures any securities your brokerage is holding for you up to $500,000.
Coinbase also has SIPC insurance. That would protect any "real currency" (USD, Euros, etc) they are holding for you, but it doesn't protect crypto-currency they are holding for you.
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