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Coinbase Vault Closes its Doors

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Coinbase, the cryptocurrency behemoth based in San Francisco, has announced that it is shuttering its multi-signature bitcoin storage platform known as Coinbase Vault. After April 19th, 2018, the company will no longer provide the third private key in this clever multi-signature bitcoin storage mechanism. Citing difficulty supporting new bitcoin forks, and low customer interest, this change comes a full year after their announcement to disable new Vault account registrations. Source: https://blog.coinbase.com/multisig-vaults-on-coinbase-c21f58eed7cb --- This episode is sponsored by Americas Cardroom, the most trusted online poker site. Fund your account AND claim your winnings using your favorite cryptocurrency!   Make your first deposit using bonus code CHRONOS to get 100% bonus + up to $50 cash.   US players welcome! Play TODAY: http://ow.ly/NEzd30guKzU Million Dollar Sunday, every Sunday at 3:00pm ET --- About the show: One Minute Crypto is among the fastest-paced bitcoin shows in the universe. We cover everything on blockchain technology: walkthroughs, tutorials, news, and more. Check us out at http://oneminutecrypto.com. Music: http://bensound.com
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Text Comments (15)
Chronos Crypto (8 months ago)
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Eric Smith (8 months ago)
Hey does this apply to Litecoin and Ethereum Vault?
Mike Plank (6 months ago)
Umm, but I have my bitcoin in that Vault and have for awhile. Even added to it recently. Just verified it (including it's loss in value!).
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Super Roo (8 months ago)
How do you know this? I have looked everywhere and there is nothing to indicate the Vault service is being cancelled. Presently you are still able to set it up. If its to be cancelled April 19th, I'm sure they would have a notification and not have the service available, you would think? Am I missing something?
Konstantinoff74 (7 months ago)
Thanks for the info
Super Roo (8 months ago)
UPDATE to my previous comment. I contacted Coinbase (they got back to me really fast) and they are NOT discontinuing the Vault service. It is still active and will be active for the future. Coinbase Vault doors are very much open! Hope this helps anyone.
JdBVideo1 (8 months ago)
Thanks for keeping us updated on this Chronos - I've subscribed to your very useful channel. I like that you keep your videos short, clear and to the point.
iTuber012 (8 months ago)
move it to BRD app
Matías Pierdoménico (8 months ago)
Thank you, I've heard this multi signature address concept a few times before, but never did any research on it. Regarding security, I think a phone is actually really secure, as long as you backup your seed somewhere else, and you set a spending password. I'd put 10s of thousands of dollars on a phone without any worries.
Edward Reidhead (8 months ago)
I thought everyone that cares about the future of independence and privacy are closing their Coinbase accounts. Coinbase is working with its partner, the IRS...
Chronos Crypto (8 months ago)
Partner? That doesn't sound accurate to me. They've been fighting in court. http://lmgtfy.com/?q=coinbase+irs+lawsuit
X X (8 months ago)
Buy,then send to wallet. Never used CB Vault before.
Rishi Kataria (8 months ago)
Such a shame when good technology is not appreciated.
Mr Fender bender (8 months ago)
Thanks for the news you are the only YouTuber I have heard that talked about this.

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