Conversation

Pro tip: Withdraw 80% of your assets from exchanges and convert them to fiat, hold at your bank account or third party gateways Gamble margin with the remaining 20% Because one or more exchanges will go bankrupt at bottom of this #Bitcoin $BTC bust

Shooter hpv.eth McGavin

@getderb

Mar 14, 2020

for US; coinbase and gemini are both FDIC on your fiat holdings, same as the banks.

impulse scout

@impulse_scout

Mar 15, 2020

What about Kraken?

Shooter hpv.eth McGavin

doubt it.

Replying to

and

Your fiat holdings at Kraken are also stored in banks. FDIC doesn't cover exchange insolvency, hacks, mismanagement, etc. It covers bank failure. Maybe you should be worried about bank failure these days but there's nobody to bail out crypto exchanges.

7:25 PM · Mar 15, 2020Twitter Web App

Likes

Shooter hpv.eth McGavin

Replying to

and

Fair point. Coinbase and gemini have their customers crypto holding insured so take that as you like.

Jesse Powell

@jespow

Mar 15, 2020

Up to how much, what % of the total is insured? Under which circumstances does insurance pay out and how much does it pay out? What are the exceptions? Are the insurers independently solvent, reliable, actually going to pay? Without the details, "insurance" is meaningless.

Show replies