How is my cryptocurrency insured?
Coinbase carries crime insurance that protects a portion of digital assets held across our storage systems against losses from theft, including cybersecurity breaches. However, our policy does not cover any losses resulting from unauthorized access to your personal Coinbase account due to a breach or loss of your credentials. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase.
Cryptocurrency is not legal tender and is not backed by the government. Cryptocurrency (including but not limited to tokens such as bitcoin, litecoin and ethereum, and stablecoins such as USDC) is not insured by or subject to the protections of the Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation.
In case of a covered security event, we will endeavor to make you whole. However, total losses may exceed insurance recoveries so your funds may still be lost.