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Coinbase - Bitcoin Merchant


Michael

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  • 5 months later...
  • 4 weeks later...

It sounds like coinbase is a hosted bitcoin wallet. It's like keeping your money in the bank, except that bitcoins are not insured, and hackers have breached and stolen a lot of bitcoins in the past.

 

I'd be cautious, and suggest that you don't store too many coins in an online wallet. 

 

I'd agree that it's not a good idea to keep most of your bitcoins on an online wallet (blockchain.info is an exception because it works differently), but just wanted to note that coinbase is often used to immediately exchange bitcoins received for USD just like Bitpay.

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