I staked ETH on coinbase. should i be worried?

It is just as the title says. I only recently got my cold wallet, a nice ledger NANO. Everything is moved over and is secure, except for one of my first purchases which got me into crypto, my ETH. Now please understand that i went in with the understanding that i could lose everything. this is my ‘play’ money. I am a HOLDer on a ten-year plan (unless i get rich sooner 😉 )

However, i am curious, since this is my first HUGE dip/bear market, what happens to what people staked on Coinbase if it goes under. who technically has ‘ownership’ in this situation?

i see a lot of talk on alts going under but what about exchanges? CRO spent a butt load on advertising.

also as an unrelated question, is there a way to un-stake on coinbase to extract eth? I’m asking for a friend.

View Source

27 thoughts on “I staked ETH on coinbase. should i be worried?”

  1. I too have Eth staked there, as far as I understand its locked up, end of. I’ve seen the talk, but is there much of a chance of CB going tits up in reality?

    Reply
  2. I don’t understand how these posts get on rising. If you read the full article on this it explains that it was only because they didn’t want the government or lawyers to take user funds without warning.

    Companies that are public need to protect themselves, and it’s not a 100% bet but no investment is. But this and other stable coin posts have been trending so much, and it makes me realize how little some people on this sub know about the market.

    Reply
  3. Let’s face it, if something like coinbase goes bankrupt, Crypto as a whole will get a huge slash in its value, so even if you have your coins stored in a cold wallet, they will be worth very little.

    Reply
  4. Idk, but Coinbase constantly reassuring me that my funds are safe makes me feel like my funds are indeed not safe.

    Reply
  5. No, the recent news is completely sensationalized.

    All that happened was Coinbase had to publicly clarify a policy for the SEC, it was completely hypothetical. Because they are the only publicly traded exchange, they were the only one that had to (even though it applies to all exchanges)

    This completely hypothetical situation involved a potential bankruptcy, and once that word was stated headlines fired up insinuating Coinbase is in trouble for clicks. Again, it was a completely hypothetical clarification. CB is doing fine

    Reply
  6. Yes.

    You gave them a gift and now you’re at their mercy.

    I’m not saying they’ll go bust, but my previous sentence is as true as it gets.

    Reply
  7. There is no way to unstake from Coinbase until Eth 2.0 launches I’m currently in the same boat and have moved everything out except for Eth. We will just have to wait and weather the storm my friend.

    Reply
  8. You can’t withdraw your staked ETH. But you are probably safe with Coinbase – if it goes into bankruptcy, you’ll lose your coins, but this is a far fetched scenario.

    Reply
  9. Same boat as well. I believe I ready if coinbase goes under we are fucked. It would be going through the regular bankruptcy proceedings where they divide up remaining assets which would be a fraction of what was invested if anything.

    Reply
  10. The question is, when ever I buy more ETH just do it on Coinbase still to add to my staking or buy it and have it in cold wallet?

    Reply
  11. As far as i know, the funds would still be treat as yours in case of bankruptcy. I think its legal disclosure now as i think the court ‘has’ the power to treat your funds as theirs but i don’t actually think it means they ‘have’ to take them.

    Reply
  12. I don’t like to stake my coins in CEX. I do it naively or I don’t. I just don’t trust them but I think you are fine.

    Reply
  13. Coinbase is huge..if they go under due to a crypto related crash your ETH prob wont be worth much anyways..I think you will be perfectly fine

    Reply
  14. Nah, it’s just FUD. You’re fine. You’ll need to wait until withdrawals are enabled, 6 months after the merge, which is in about 2-3 months. Coinbase did warn people that it might take about 2 years.

    Reply
  15. I get being worried. People take a piece of facts then twist it to scare people. Here’s the basics. Yes, if Coinbase was to go bellyup and your coins were on the exchange anywhere they can legally use your portfolio in their bankruptcy. Meaning your out your money. Peroid. However right now there is less then a .1% chance Coinbase is going bankrupt. Let me add as well of Coinbase goes bye bye crypto is probably over. It would be a disaster.

    Reply
  16. Why would you LEND (you’re not staking!) a coin that can be staked non-custodially on coinbase?

    You should be worried, because that seems reckless…

    Reply
  17. Same, and yes I am worried. It was probably the single worst crypto decision I have ever made. At the time I thought force holding would work out since I planned to hold Eth long. Possible we never see it again and it becomes an expensive lesson.

    Reply
  18. Coinbase employees caught on audio recording:

    “Hey Jimmy, how far into that book are you”

    “I’m on chapter 11”

    This sub: Jesus fucking christ sell sell sell.

    Reply
  19. If you lose money, you deserve to. Crypto as a whole is a Ponzi scheme, the victories undeserved and the losses sweet to watch. Hope you lose everything, maybe you’ll learn. And to those at the top, the scammers themselves, hopefully the day will come where you face your due punishment.

    Reply

Leave a Comment