Comment by gibybo | Hacker News Reader

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Comment by gibybo | Hacker News Reader

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When they say stored 'online' they mean 'not in cold storage'. 98% (according to that article) of the crypto held by Coinbase is in cold storage and is not insured.

I wonder how many people make this exact mistake.

Which makes sense. I imagine insuring cryptocurrencies is very, very expensive, considering the risk profile.

Good point. The cold storage procedure is also impressive, but not as impressive as full insurance.

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