Coinbase Exchange
<i>Coinbase is insured against hacking, internal theft, and accidental loss in an amount that covers maximum value of bitcoin we hold in online storage at any given time.</i><p>When marketers advertise in bad faith, you could end up with a bad product.  In this case, however, you could end up losing your money.<p>Unless you have multisig control over your coins, do not put large sums into this exchange unless you want to lose your money.<p><i>98% of customer bitcoin is stored entirely offline.</i><p>This means the vast majority of users don't have multisig control over their coins, since multisig-protected coins can't be put into offline storage.<p>Let's recap Coinbase's technical problems over the years:<p>Here's someone who sent $35k to Coinbase and never received coins until they made a big deal about it on HN: <a href="https://news.ycombinator.com/item?id=6929705" rel="nofollow">https://news.ycombinator.com/item?id=6929705</a><p>Here's someone with the same story, but $10k instead of $35k: <a href="https://news.ycombinator.com/item?id=6933360" rel="nofollow">https://news.ycombinator.com/item?id=6933360</a><p>Here's Coinbase leaking emails and full names: <a href="https://news.ycombinator.com/item?id=7507493" rel="nofollow">https://news.ycombinator.com/item?id=7507493</a><p>Here's a Coinbase engineer saying "there are a few lingering issues" in response to transactions being delayed for days (sometimes over a week) and BTC not being able to be withdrawn: <a href="https://news.ycombinator.com/item?id=5427985" rel="nofollow">https://news.ycombinator.com/item?id=5427985</a><p>And now they're trying to pretend like your coins are completely safe.  They're not.  If Coinbase becomes insolvent and goes bankrupt, you won't get your coins back.  It happened to Mt. Gox, it sucked for me, and if it happens to Coinbase it's going to suck for you.<p>Don't put more than a few bucks into this, or whatever you're comfortable with losing.