Furthermore, on the exchange’s support page it’s clearly stipulated that amounts up to $250.000 are insured and will be returned to customers in the event of a hacking or failure.
While this is definitely great, you should keep in mind that what you’re getting is infinitely inflatable fiat, not scarce bitcoins.
If your bits of digital gold get lost, it definitely won’t be Bitcoins that Coinbase and Aon send you as a form of compensation.
US dollars can be inflated at an arbitrary rate which is dictated by circumstance, while bitcoins are issued according to a schedule and will only exist in a total amount of 21 million.
If you believe in Bitcoin’s success, it’s probably not a good idea to trust Coinbase with your funds.
Past events are not always relevant for the future, but they can serve as informal education to prevent history from repeating itself.
If you choose to hold your bitcoins on Coinbase, you trust that the company has learned its lessons from the failures of its peers.
On the other hand, if you choose to become your own bank by embracing financial sovereignty, you prove that you have learned the most important lesson about Bitcoin: never trusting third parties with your money.