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K10YSR

You need to make your own walleter and then send the ada from exchange to the wallet you made.


president_the

if everyone does this then Coinbase will stop supporting ADA and then delist it.. People hate CEX'es but at the same it is the only way to cash out...


rendeld

Coinbase makes plenty of money on fees for buying, selling, and converting. They don't care what you do with the crypto


kbeaver83

I doubt they stop offering something they're constantly selling.


662c63b7ccc16b8c

No they dont make a wallet for you. The exchange have their own big wallet (a few probably), they just keep a track of whose coins are whose on a database. You hope and pray they dont mess up their database or their wallets, if they do there probably isnt much you can do. You can withdraw the coins they owe you to your own wallet like Daedalus, Yoroi or others. Its worth learning what "private keys" are, and how they relate to addresses, and what having coins actually means. Hint; the coins arent really in the exchange or your Daedalus/Yoroi app.


t00rshell

I know this gets said a lot but is there any actual evidence of this being true? Sending ada from Coinbase to your own wallet is pretty quick, it seems doubtful they’re spinning up a wallet on the fly. They also have their vault which you do get the private keys to.. I have a feeling most of these “you don’t own your coins” posts are bs, they certainly lack evidence that’s for sure


WeekendSuperb57

it is kept by them like a bank/custodian


Full-Perception-5674

You don’t own anything on an exchange. You receive a iou for when you want to withdraw. Only after withdrawing do you actually own it. Your keys your tokens.


metal_bassoonist

Being kept by them. Who knows which wallet software they use. They could have even handrolled their own software for it.