What are the risks of sharing my coinbase 12 word phrase with others?

3 answers

• Sleepy TuiApr 29, 2022 · 3 years ago
  Sharing your coinbase 12 word phrase with others can pose significant risks to the security of your digital assets. By sharing this phrase, you essentially provide others with access to your cryptocurrency funds. This means that if someone gains access to your phrase, they can easily transfer or steal your digital assets without your consent. It is crucial to keep your 12 word phrase private and secure to prevent unauthorized access and potential loss of funds.
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• Bohdan ShyiatyiFeb 11, 2022 · 3 years ago
  Sharing your coinbase 12 word phrase is like giving someone the keys to your digital wallet. It's important to remember that once you share this phrase, you lose control over your funds. It's similar to sharing your online banking password or PIN with someone else. You wouldn't want to give someone the ability to access and control your bank account, and the same principle applies to your cryptocurrency wallet. Keep your 12 word phrase confidential to maintain control over your digital assets.
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• thishonSep 13, 2024 · 10 months ago
  At BYDFi, we strongly advise against sharing your coinbase 12 word phrase with anyone. It's crucial to understand that the 12 word phrase is the key to your digital assets, and sharing it increases the risk of unauthorized access and potential loss. We recommend storing your phrase in a secure location, such as a hardware wallet or a password manager, and avoiding sharing it with anyone, including friends, family, or even trusted individuals. Remember, your digital assets are valuable, and it's essential to prioritize their security.
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