Are you an investor searching for a reliable and compliant method to store your digital assets? Your quest ends here with the Coinbase custody account, a specialized version provided by Coinbase. It offers institutional and individual investors a secure and compliant storage solution for their digital assets.
In this article, we will take a closer look at the Coinbase custody account: pricing and coin List (Institutional & Individuals), which will help you understand how you can benefit from this service.
With the service, you will have access to a wide range of features, including offline storage, multi-user access controls, trading and withdrawal services, insurance, and compliance with regulations, all of which ensure the safety and security of your assets.
What is a Coinbase Custody Account, and What Does it Do?
Are you curious how institutions and high-net-worth individuals securely store their digital assets? Coinbase custody is a secure and compliant solution for institutional investors to keep their digital assets. But what exactly is a Coinbase custody account, and what does it do?
A Coinbase custody account is a specialized account offered by Coinbase, one of the world’s leading cryptocurrency exchanges. It is a secure and compliant storage solution for institutional investors looking to store large amounts of digital assets, such as hedge funds, family offices, and endowments.
The service offers a variety of features and services to its clients, including offline storage in geographically-distributed and secure vaults, multi-user access controls, and 24/7 monitoring and surveillance. The platform also offers trading services, and clients can withdraw their assets whenever possible.
One of the main benefits of using Coinbase custody is that it is a fully insured solution, meaning that if any assets are lost or stolen, they will be covered by Coinbase’s insurance policy. Additionally, it is fully compliant with regulations and laws regarding the custody of digital assets, making it a safe and secure option for institutional investors.
How to Set Up Your Coinbase Custody Account in 3 Easy Steps?
Setting up a Coinbase custody account is a simple process that can be completed in just a few easy steps. Here is a guide on how to set up your Coinbase custody account to ensure the safe and secure storage of your crypto assets.
- Step 1: Sign up for an account. The first step in setting up your Coinbase Custody account is to visit their official website and sign up for an account. It will require you to provide basic information, such as your name, email address, and phone number. Once your account has been created, you will be asked to verify your identity by providing a government-issued I.D.
- Step 2: Fund your account. Once it is set up, you’ll need to fund it to begin storing your crypto assets. You can transfer funds from an external wallet or another exchange. Remember that Coinbase Custody supports a wide range of cryptocurrencies, and you can fund your account with any of the coins they offer.
- Step 3: Store your assets. The final step is to store your purchases in your Coinbase Custody account. To do this, you’ll need to navigate to the “Assets” section of the platform and select the cryptocurrency you wish to store. Once you’ve chosen your desired cryptocurrency, you’ll be prompted to enter the amount you want to keep and confirm the transaction.
Following these three simple steps, you can set up your Coinbase custody account and begin storing your crypto assets securely and promptly. With Coinbase custody, you can be confident that your digital assets are safe and secure and that you are fully compliant with regulations and laws regarding the custody of digital assets.
What are the Advantages of Having a Coinbase Custody Account?
Having a Coinbase Custody account offers many advantages for institutional investors and high-net-worth individuals looking to store their digital assets securely. Here are some of the key benefits of using Coinbase Custody:
- Security: offers a highly secure storage solution for your digital assets, with features such as offline storage in geographically-distributed and safe vaults, multi-user access controls, and 24/7 monitoring and surveillance.
- Compliance: is fully compliant with regulations and laws regarding the custody of digital assets, ensuring that you comply with legal requirements.
- Insurance: your assets are fully insured, meaning that if any purchases are lost or stolen, they will be covered by Coinbase’s insurance policy.
- Trading & Withdrawal Services: provides trading services, and clients can also withdraw their assets whenever they want, giving you more flexibility and control over your assets.
- Wide variety of assets: Coinbase Custody supports a wide range of cryptocurrencies so that you can store a diverse portfolio of digital assets.
- Community engagement: is engaged with the community through educational resources, events, and other initiatives.
- Comparison with other custodial services: compares favorably with other digital asset custodial services in terms of pricing, coin offerings, security measures, and compliance.
Coinbase Custody account is a secure, compliant, and insured storage solution that offers institutional investors a wide range of features and services, including trading and withdrawal services, a wide variety of assets, community engagement, and comparison with other custodial services.
It’s an excellent choice for those looking for a secure and compliant way to store their digital assets.
Pricing for Coinbase Custody
Coinbase custody has a transparent fee structure for its services. The fees for setting up and maintaining a custody account are as follows:
- Deposit Fee: there is no deposit fee for depositing assets into your Coinbase Custody account.
- Withdrawal Fee: $50 is charged for withdrawing assets from your Coinbase Custody account and any network fees required to complete the withdrawal.
- Storage Fee: a monthly fee of 0.1% is charged for storing assets in your Coinbase Custody account.
- Trading Fee: for trading assets within your Coinbase Custody account, a trading fee of 0.1% is charged.
- Account Management Fee: for accounts with a balance of $10 million or more, a quarterly account management fee of 0.04% is applied.
The platform charges deposit, withdrawal, storage, trading, and account management fees for its services. These fees are transparent and are designed to be competitive with other digital asset custody solutions.
Coin List for Institutional Investors
Coinbase Custody offers a wide range of cryptocurrencies for institutional investors to store securely. These are the assets currently available for institutional investors through Coinbase Custody:
- Bitcoin (BTC): the world’s first and most widely-used cryptocurrency.
- Ethereum (ETH): decentralized platform for building smart contracts and decentralized applications.
- Bitcoin Cash (BCH): fork of Bitcoin designed for fast and low-cost transactions.
- Litecoin (LTC): peer-to-peer cryptocurrency, similar to Bitcoin but with speedier transaction times.
- Ripple (XRP): digital asset for global payments and money transfers.
- EOS (EOS): decentralized platform for building decentralized applications, similar to Ethereum.
- Stellar (XLM): An open-source protocol for exchanging money, similar to Ripple.
- Chainlink (LINK): A decentralized oracle network enables smart contracts to access off-chain data securely.
- Zcash (ZEC): A privacy-focused cryptocurrency offering enhanced privacy and anonymity for transactions.
- Dai (DAI): A decentralized stablecoin pegged to the value of the U.S. dollar.
Coinbase Custody is committed to providing institutional investors with a wide range of assets to store and is constantly evaluating new investments to add to its platform. It plans to add more purchases shortly, which will be communicated through official channels.
Coin List for Individual Investors
The service also offers a range of cryptocurrencies for individual investors to securely store through the Coinbase Custody list. Currently, the following assets are available for individual investors to keep through Coinbase Custody:
- Bitcoin (BTC): The pioneer and most extensively utilized digital currency worldwide, enabling decentralized and protected electronic transactions
- Ethereum (ETH): A blockchain-based platform that enables the creation and execution of smart contracts and decentralized applications
- Litecoin (LTC): A decentralized digital currency similar to Bitcoin, but with enhanced transaction speed
- Bitcoin Cash (BCH): A decentralized digital currency similar to Bitcoin, but with enhanced transaction speed
- Ripple (XRP): A digital asset that facilitates global payments and money transfers
- Stellar (XLM): An open-source protocol that facilitates the exchange of money, primarily with the aim of supplying financial services to those who lack access to traditional banking.
- Chainlink (LINK): A decentralized network of oracles that empowers intelligent contracts to connect with external data sources, enabling them to interact with the real world.
- DAI (DAI):A stablecoin that operates on a decentralized network, anchored to the value of the U.S. dollar
- ZCash (ZEC): A privacy-focused cryptocurrency that provides enhanced privacy and anonymity for transactions
- Algorand (ALGO): A decentralized blockchain platform that enables the creation and execution of smart contracts
The platform is dedicated to offering individual investors a diverse selection of assets to safeguard and is continually assessing new opportunities to expand its Coinbase Custody list. It intends to augment its offerings soon and will inform the public via official communications.
Securing Your Digital Assets With Coinbase Custody
The service takes several measures to ensure the security of custodial assets. These include:
- Insurance: its assets are fully insured, meaning that if any purchases are lost or stolen, they will be covered by Coinbase’s insurance policy. It provides added protection for institutional investors and high-net-worth individuals.
- Multi-sig architecture: uses a multi-sig architecture, which requires multiple signatures to access and move assets. It gives an added layer of security to ensure that assets are only accessible by authorized individuals.
- Cold storage: stores most of custodied assets offline in geographically-distributed and secure vaults. It offers added protection against hacking and other online threats.
- 24/7 monitoring and surveillance: uses advanced security systems to monitor and protect assets 24/7, ensuring that any suspicious activity is quickly identified and addressed.
- Compliance: is fully compliant with regulations and laws regarding the custody of digital assets, ensuring that assets are stored following legal requirements.
Coinbase Custody takes several measures to ensure the security of secured assets to provide institutional investors and high-net-worth individuals with added protection for their coinbase custody assets.
Regulation-Compliant and Secure: The Coinbase Custody Advantage
Coinbase custody is fully compliant with regulations and laws regarding the custody of digital assets. The platform has undergone rigorous security and compliance audits by external firms and has obtained licenses and certifications from regulatory bodies in various jurisdictions.
One of the critical ways that Coinbase custody ensures compliance is through its strict adherence to the regulations set out by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the United States. It includes registering as a qualified custodian and adhering to the SEC’s requirements for the storage of digital assets.
In addition to its compliance with U.S. regulations, Coinbase custody is also compliant with other international regulations and laws regarding the custody of digital assets. The platform has obtained licenses and certifications in various jurisdictions, ensuring that it can provide its services to clients in compliance with local laws and regulations.
It is also committed to adhering to industry best practices for the custody of digital assets, including SOC 2 Type 2 certification and SOC 1 Type 2 certification, demonstrating its commitment to maintaining the highest standards of security and compliance.
Building a Stronger Crypto Community With Coinbase
Coinbase actively engages with the community through various initiatives and resources. Here are some examples of how Coinbase is engaging with the community:
- Educational resources: it provides various educational resources, such as guides, articles, and videos, to help educate individuals and institutions about digital assets and blockchain technology. It includes information on how to set up and use a Coinbase Custody account and explanations of different cryptocurrencies and how they work.
- Community events: it regularly hosts and participates in events such as meetups, conferences, and hackathons to engage with the community and foster collaboration and innovation. These events provide opportunities for individuals and institutions to learn about new developments in the digital asset space and connect with other industry leaders.
- Community initiatives: it also supports and participates in community initiatives such as charitable giving and social impact programs. It has also established a venture fund that supports early-stage companies in the crypto and blockchain space.
- Transparency: it is committed to openness and communicates its operations, policies, and financials to the public.
In summary, Coinbase actively engages with the community through educational resources, events, community initiatives, and transparency. Coinbase fosters a solid and informed community around digital assets and blockchain technology by providing access to information and opportunities for engagement.
Secure Your Digital Assets with Coinbase Custody: The Safe and Compliant Solution for Institutional Investors and High Net Worth Individuals
Coinbase custody is a secure and compliant platform for institutional investors and high-net-worth individuals to store their digital assets. It offers many features, including offline storage, multi-user access controls, trading and withdrawal services, insurance, and compliance with regulations.
With a transparent and competitive fee structure, a diverse range of assets, and a commitment to adding more investments, Coinbase custody is an excellent option for those looking for a secure and compliant way to store their digital assets. Its security measures, such as insurance, multi-sig architecture, cold storage, 24/7 monitoring and surveillance, and compliance with regulations, provide added protection for your assets.
If you’re an institutional investor or high net-worth individual, consider having a Coinbase custody account today to take advantage of these benefits.
