Skip to main content
110% Deposit Bonus from mBit

Coinbase Vault Ensures High Security for Large Amounts of Bitcoin

Coinbase’s latest product The Vault is set to benefit Bitcoin investors and big time casino players who wish to keep large amounts of Bitcoin safe and secure.

Coinbase Vault

Bitcoin casino enthusiasts eager to keep portions of all their winnings safe for investment purposes can do so now through Coinbase’s new service called The Vault.

The new account type announced yesterday offers users to store large amount of bitcoins in a storage designed to keep the bitcoins safe via the layers of security features commonly used by banks.

Coinbase CEO Brian Armstrong has been quoted saying, “A lot of people in the industry were interested in storing large amounts of bitcoin, more like an investment.”

He also said high net-worth individuals have been showing interests about storing their funds in a more secure storage that is not prone to threats of any kind.

The Vault, which promises to serve as more like a Bitcoin savings account, is protected in three ways. One is the 48-hour withdrawal delay, during which Coinbase will verify the request by contacting the user through different channels. Another is the multiple approval system, which enables the user to assign three or five Coinbase users to sign and allow the processing of the withdrawal request.

Moreover, this account type uses the cold storage approach that is practiced in its regular wallets, and guarantees that 97 percent of the funds are kept offline in various parts around the globe.

With the Coinbase Vault equipped to store million-dollar worth of bitcoins, Bitcoin users, including online bettors, can now keep their funds away from the potential risks of attacks and just set a portion of their bitcoins in their wallets for daily use.

“We recommend you store smaller amounts of bitcoin in your wallet for convenient spending, while using vaults for larger amounts of bitcoin and investment purposes,” read the post on the official Coinbase blog.

Through this, online players who wish to wager on Bitcoin casino games without fearing of exposing their bitcoins to possible threats can conveniently benefit from the latest innovation Coinbase rolled out. Likewise, big winners in poker tournaments or Bitcoin casino jackpots can transfer certain bitcoins to the vault and be at ease every time they use their wallet for other Bitcoin payments.

Initially available to only 5 percent of Coinbase users, the Vault service will be released to the public on July 16, and will be free to use, except for the one percent fee for the purchasing and selling of bitcoins.

On another note, Coinbase also announced its future addition of the multi-signature technology to its latest Bitcoin storage service to strengthen its security features.

1xBit Live Gaming Cup Play with Cryptos



Endorphina Expands Content Reach With Gamingtec Partnership

August 10, 2020

Endorphina forges a new partnership with no less than the iconic Gamingtec platform, bringing its portfolio of games to be added to Gamingtec's solutions.

Easy But Proven Tips to Help You Enjoy Bitcoin Roulette

August 9, 2020

Want to have fun while playing roulette in your favorite Bitcoin casinos? Check out our easy but proven tips to help you enjoy Bitcoin roulette online.

How Does a Real-Money Gambling (RMG) Work?

August 8, 2020

Real-money gambling (RMG) is yet another positive step in the online gambling world. Get ready to know everything that you must about RMG casinos.


Interview with Eman Pulis, Founder of SiGMA

July 14, 2020

We had the opportunity to talk to Eman Pulis, founder of SiGMA, a highly-successful iGaming expo and conference home to 14000 attendees and 500 exhibitors.

Interview with Gregor Rozic, Sales Manager at GameART

July 7, 2020

We’ve had the opportunity to talk to GameART Sales Manager Gregor Rozic, who has 10 years of experience in online gaming on casino and poker content.

Interview with Magnus Leppäniemi, VP of Marketing & Head of Esports at Esports Entertainment Group

June 30, 2020

We had the opportunity to talk to Magnus Leppäniemi, VP of Marketing & Head of Esports at Esports Entertainment Group and member of Advisory board.

Your Message

Please enter your email address:

No account yet? Register here
Forgot Password? Click here
Already have an account? Login
Forgot Password? Click here