Coinbase is a leading crypto exchange with over 8.8 million users. It is one of the best exchanges where users can buy, sell, and trade cryptocurrency without any security concerns.
Coinbase maintains a good reputation in the crypto community as well for protecting its users from malicious attacks. However, there are times when hackers use a vulnerability to gain access to users’ crypto wallets or accounts. Many people ask, will Coinbase refund if hacked? Here’s all you need to know:
What is Coinbase?
Before we jump into the details of the account, you should know the basics about Coinbase.
Coinbase or Coinbase Global, Inc., was founded in 2012 by Brian Armstrong as a private American trading company for cryptocurrency exchange. It is a trading platform where people can buy, sell, invest, trade, stake, and trade cryptocurrencies.
Coinbase is one of the most popular decentralized exchanges that enables users to create an account, learn about trading, and build a crypto portfolio in a secure manner.
The exchange also provides a compatible crypto wallet, Coinbase Wallet on Ethereum blockchain, that users can connect with different NFT marketplaces or DeFi platforms without any problems.
Once you make an account on Coinbase, you become part of a secure community where you can thrive and experiment with yourself. Furthermore, with its quality customer support and better transaction rates, many people prefer using Coinbase to any other exchange.
How to make an account on Coinbase?
Creating an account on Coinbase is quite easy and doesn’t cost any money, just follow the given steps:
- Go to coinbase.com or download the Coinbase app from the Apple store or Play store.
- Click on Get Started on the browser website at the upper right corner
- Fill in all the given details, agree to all the User Agreement terms, and Click Create Free Account.
- Verify your Account through your email address and also verify your phone number
- You will be asked different questions, answer them and select Continue
- Complete the ID verification process once you sign in again to ensure your account is safe.
Now, you are ready to transfer your funds and get started with crypto trading or buying NFTs.
Furthermore, it also has customer support where you can ask questions regarding the platform or if you have concerns related to your account.
Will Coinbase refund if hacked?
A lot of people have this question about whether will Coinbase refund if scammed or does Coinbase refund stolen money. The answer is They might, in certain situations. You will need to contact Customer Support to see how they respond to the refund policy.
The exchange will not refund you if your account is hacked in case of a data breach, a phishing scam, or any other means of attack by which a third party stole or removed funds from your Coinbase account. However, if there was a wrong transaction or attack from the Coinbase server, then you will get refunded by the exchange.
If you think your account was hacked or showing suspicious activity, immediately contact customer support. Before doing that, lock your Coinbase account and secure your email as soon as possible. Next, contact Customer Support and tell them about the hack so that they can take immediate action on recovering your account.
So, now that you know the answer to whether will Coinbase refund if hacked, it’s better to be careful when it comes to phishing attacks.
Although victims shouldn’t be blamed for losing their accounts or clicking on scam links, it is important to take personal security measures and not rely on third-party account services or exchanges to protect you always.