Twitteratis urge Coinbase users to transfer crypto into hardware wallets

New Delhi: Coinbase warned that in the unlikely event of bankruptcy, it may absorb its users’ cryptocurrency as property.

Some cryptocurrency observers were alarmed by the acknowledgement because it appeared to contradict a core tenet of the decentralised finance movement: giving people complete control and ownership of their money.

Now many users on Twitter and other social media platforms are urging Coinbase users to transfer their cryptocurrency to hardware wallets.

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What is a Hard Wallet?

A hardware wallet is a cryptocurrency wallet which stores the user’s private keys (critical piece of information used to authorise outgoing transactions on the blockchain network) in a secure hardware device.

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