Get your crypto off of exchanges fellas. If you don't hold your own seed phrases/private keys then your coins can be taken from you in an instant. It's just good practice to get a hardware wallet and generate your own seed phrases.
Don't ever digitally record them or speak them aloud. Ever. Don't be scammed or tricked into giving them up either. This is the best security you can have. Be careful out there!!
Not really surprising.
I'm still shocked though at how many people are unaware of these possibilities
This is good advice, but it's true of any exchange, not just Coinbase. Don't leave your crypto on 3rd party services. Control your own private keys, always!
get a hardware wallet
What's the failsafe should said hardware wallet get damaged or stop working?
The hardware wallet just generates the keys(offline) for the blockchain address. You can access it without the hardware using a hot wallet or another hardware wallet as long as you have your seed phrase and/or private key.
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