Coinbase User Agreement (UK)

Implications

• Coinbase offers a variety of services including buying, selling, and storing cryptocurrencies.
• Coinbase is regulated by the UK Financial Conduct Authority (FCA).
• Digital Asset Services provided by Coinbase Europe are not currently regulated by the FCA or any other regulator in the UK or Ireland.
• Coinbase can update the User Agreement at any time with notice.
• Coinbase is not responsible for losses in trading or holding Digital Assets due to market fluctuations.
• Coinbase Payments safeguards E-Money, separate from the company's funds.
• Users must be at least 18 years old to use Coinbase Services.
• Coinbase may refuse to process a transaction or suspend/close accounts for various reasons.
• Coinbase can amend fees and limits at any time.
• Coinbase provides a dispute resolution process for complaints.
• Users are responsible for maintaining the security of their account information.
• Coinbase is not liable for any unauthorized transactions if the user fails to secure their account.
• Coinbase offers a Coinbase Visa Debit Card for spending crypto or fiat currency.
• Coinbase may use third-party payment processors for transactions.

Things to watch out for

• Be aware that Coinbase Europe's Digital Asset Services are not regulated by the FCA or any other regulator in the UK or Ireland.
• Understand that Coinbase can update terms, fees, and limits at any time, which may affect your use of their services.
• Remember that you are responsible for the security of your account and Coinbase is not liable for losses due to unauthorized access if you fail to secure your account.
• Be cautious of the fact that Coinbase is not responsible for losses in trading or holding Digital Assets due to market fluctuations.

AI recommendations

When using Coinbase, it is crucial to understand that while it offers various services, not all of these services are regulated, which could impact the level of protection you have, especially concerning Digital Asset Services. Always ensure that you maintain the security of your account information and be vigilant for any unauthorized access, as Coinbase's liability in such instances is limited. Additionally, keep an eye on any changes to the User Agreement, particularly fees and limits, as these can change with notice and may affect your transactions. Lastly, be aware of the market risks involved in trading and holding Digital Assets, as Coinbase does not cover losses due to market volatility.

FAQs

What happens if Coinbase changes the User Agreement or fees?

Coinbase can update the User Agreement, fees, and limits at any time with notice. You are deemed to accept changes if you continue to use the services after the changes take effect, unless you close your account before the changes apply.

Is my cryptocurrency protected by financial compensation schemes?

No, your Digital Assets and E-Money are not protected under the UK Financial Services Compensation Scheme (FSCS) or the Irish Deposit Guarantee Scheme or Investor Compensation Scheme.

What should I do if I suspect unauthorized access to my Coinbase account?

Immediately notify Coinbase Support and follow the instructions provided. You are responsible for securing your account, and Coinbase is not liable for losses due to unauthorized access if you fail to secure your account.