Is coinbase safe is one of the most popular ways to buy, sell, and store cryptocurrencies like Bitcoin. The company prioritizes security with bank-grade AES-256 encryption and cold (offline) asset storage. But despite these robust safety measures, your Coinbase account’s security depends on your personal security practices. Hackers can still access user accounts, even if the exchange’s systems aren’t breached.

One way to avoid this is by using a password generator to create a long, complex password that’s unique to your Coinbase account. Also, it’s important to use two-factor authentication (2FA) to protect your account. But be careful — scammers can intercept your code by hijacking your phone number through SIM swap attacks. To prevent this, choose a secure authenticator app or hardware security key for your phone instead of SMS.

Is Coinbase Safe? A Deep Dive into Security and Reliability

Another security tip is to review your bank statements and Coinbase activity regularly. If you spot any suspicious transactions, contact customer support. Also, make sure to scan your computer for malware and update programs to remove any vulnerabilities. And always use a browser designed for security and privacy, like AVG Secure Browser.

Lastly, be wary of any offers that ask for personal information, especially in public places like forums or chat rooms. For example, giveaway scams where a stranger offers you money in exchange for your personal info can be incredibly lucrative to hackers. Similarly, impersonation scams where fraudsters pretend to be Coinbase staff could also cost you dearly.