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by COINS NEWS 60 Views

Let’s say I were considering keeping my crypto on Coinbase to reduce the risk of user error, trusting that if Coinbase were hacked or compromised, there might be recovery options, potentially with government involvement like what happened with Mt. Gox.

In this setup, I could use two randomly generated emails exclusively for security, with randomized, long passwords. These emails would serve as recovery for each other, with added security like a hardware key (e.g., YubiKey).

For my Coinbase account, I might use an extremely strong password and require a security key for access. To further secure the assets, I could set up a vault with a withdrawal delay and whitelist addresses to give me time to react to any suspicious activity.

For redundancy, I might manage passwords using physical pieces of paper and store duplicate security keys in separate bank safety deposit boxes.

Would this approach be robust enough for protecting my crypto assets, or are there any potential vulnerabilities or improvements that I should consider?

DO NOT TELL ME TO TAKE IT OFF COINBASE! It is unwise for a beginner to do that and Coinbase has some good options.

submitted by /u/MichaelRedwork
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