Quote:
Originally Posted by Debfrommaine
It is Coinbase who wants my bank online user name and password when setting up an account......anyone else having a feeling about this? Thanks
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Coinbase is the world's largest crypto currency exchange. If they were stealing bank accounts, they'd be sued out of business by now.
That said, I am not worried about Coinbase stealing my banking info. I am worried about providing it and someone else stealing my info from Coinbase.
This is why I created an account at ALLY bank. It's online, free and takes very little time. It's a real FDIC insured bank based in UTAH. I put money in there from my main bank account. I gave that information to Coinbase. If it gets compromised, I'm out a few hundred max until the FDIC insurance kicks in. It doesn't interrupt all the regular deposits and bill payments and such. I.e. it's a buffer. ALLY is also crypto friendly, so sending money to Coinbase won't get blocked, like my regular bank did to me some years ago.