Summary of User Agreement Changes from January, 31, 2019 Update
Thank you for using Coinbase! Coinbase has updated its User Agreement, effective January 31, 2019 ("Effective Date"). This summary is intended to help you better understand our updated User Agreement. You will be bound by the User Agreement if you continue to hold a Coinbase account after the Effective Date.
To see the full scope of changes in the updated User Agreement that will govern your Coinbase account and use of the Coinbase services, you will need to review the full updated User Agreement. Below we list a summary of the major changes and clarifications:
- Clarify that when you procure Digital Currency from Coinbase, this is a true sale, meaning that you hold all rights and responsibilities with respect to Digital Currency.
- Explain that when you hold Digital Currency in a Coinbase Digital Currency Wallet, Coinbase holds this Digital Currency in a custodial capacity for your benefit.
- Update our agreement to arbitrate to clarify the process for submitting an official complaint to Coinbase.
- Provide additional terms and conditions for special promotions and opportunities to earn cryptocurrency.
- Add information related to the Coinbase Bundle.
- Eliminate any dormancy fee charges related to administration of unclaimed property accounts.
- Update our policy on changes to the underlying protocols of Digital Currencies (e.g.e. "forks") held in Coinbase wallets.
- Explain our policy on unsupported Digital Currencies.
- Add a section explaining our "Death of Account Holder" process.
- Update our section on revoking a transaction.
- Add a section on unauthorized and incorrect transactions.
- Explicitly state our policy on personal data use.
- Add sections on Digital Currency transfers (inbound and outbound).
- Enhance fraud protection through the addition of biometrics detection tools.
- Updated the "Limitation of Liability; No Warranty" provision.
If you have additional questions, please contact us at the Help Center.