Coinbase advises investors against showing off their crypto rich portfolio, plans crypto investment for clients post retirement

Popular cryptocurrency exchange Coinbase in a first of a kind move has teamed up with ForUsAll, a 401(k) advisor under a partnership program which plans crypto investment for its clients post their retirement. In another news, it also advises the investors against showing off their crypto rich portfolio in order to avoid potential theft.

Don’t flaunt your crypto wealth

Talking on the topic of keeping the accounts secured, Coinbase’ head of security operations Matt Muller suggested that the clients and investors should hold out against their urge of flaunting their crypto wealth to others.

“Don’t brag about your cryptocurrency holdings online, just like you wouldn’t advertise inheriting $50 million,” Matt Muller, the company’s head of security operations said. 

Muller said that knowing the crypto portfolio only tempts the hackers to attack an account. He also gave other tips on keeping the accounts secured online. He suggested people to use a password manager along with using two-factor authentication system.

Crypto investment for retirement

In another news related to Coinbase, it has partnered with ForUsAll to provide crypto investment for the clients of ForUsAll for their retirement. As per the partnership, small to medium-sized employers which are also the clients of ForUsAll will now be given an option to invest 5% of their portfolio into cryptocurrencies to give them stability post retirement.

” Allocating a small portion of a portfolio into cryptocurrency can help improve portfolio diversification and expected returns. “

Also read : Domino’s pizza workers to get their salary in Bitcoin

Coinbase will have the responsibility of trading and keeping a custody of those invested coins.

At a time when cryptocurrency acceptance is widely growing, this partnership is only going to enhance the popularity of crypto assets. Just a couple of days back, Bitcoin was adopted as a legal tender in El Salvador making it the first country to accept a crypto asset as its legal tender.

However, considering the volatility of crypto assets, the participation in this program is full of risks as well and we can’t say the participants participating in this program won’t be aware of it.

The program will begin next month and ForUsAll will charge 0.5% transaction fees and 0.5% asset management fees to maintain the accounts. It will also automatically alert the accounts when the crypto allocations in their portfolio exceeds 5% and the account holders won’t be able to add more money into their crypto portfolio since after.

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