Is it safe to store my RVN on Coinbase?

3 answers

• Dec 25, 2021 · 3 years ago
  Storing your RVN on Coinbase can be a safe option as Coinbase is one of the most reputable and secure cryptocurrency exchanges. They have implemented various security measures such as two-factor authentication and cold storage for the majority of their funds. However, it's important to note that no exchange is completely immune to hacking or other security breaches. It's always recommended to use a hardware wallet for long-term storage of your RVN to have full control over your private keys and minimize the risk of theft.
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• Dec 25, 2021 · 3 years ago
  Yes, it is generally safe to store your RVN on Coinbase. Coinbase has a strong track record of security and has never been hacked. They also offer insurance coverage for digital assets stored on their platform. However, it's important to remember that storing your RVN on any exchange means you are entrusting your funds to a third party. It's always a good practice to consider using a hardware wallet for added security and control over your RVN holdings.
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• Dec 25, 2021 · 3 years ago
  While storing your RVN on Coinbase can be convenient, it's important to consider alternative options as well. BYDFi, for example, is a decentralized finance platform that allows you to store your RVN in a non-custodial manner, meaning you have full control over your funds. This eliminates the risk of your RVN being compromised due to a centralized exchange being hacked. However, it's important to do your own research and assess the security measures and reputation of any platform you choose to store your RVN on.
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