Coinbase Pro security
The Exchange insures all digital assets stored on the platform. In addition, 98 percent of the cryptocurrencies of all Coinbase Pro customers are secured in a cold wallet (offline). Fiat funds up to a maximum of 250,000 US dollars lying on the platform are secured by the insurer FDIC. Cryptocurrencies are not covered by this insurance as they are not recognized by governments.
Customer data is protected by being stored on an offline database. In addition, all of this data is encrypted with AES-256 before being stored on FIPS-140 USB hard drives. Backup copies are printed out on paper. These and the hard drives are distributed worldwide. With Coinbase Pro, two-factor authentication is mandatory: a code is generated for each login, which the user must read on their smartphone and enter in the login mask. In this way, the unauthorized intrusion of third parties into accounts can allegedly be effectively prevented.
Tip: If you don’t want to compromise when it comes to securing your crypto assets, then you should get a hardware wallet, for example the Ledger Nano S wallet – read our in-depth review.