Coinbase is still one of the biggest cryptocurrency exchanges in the world. As such, any decision made by the company will be scrutinized. It now seems the company will remove multisig vault support in the next few weeks. It’s a rather controversial decision, although it also makes a lot of sense.
Coinbase Doesn’t Want Unprofitable Services
The concept behind Coinbase’s multisig wallet service is simple to explain. It offers an additional layer of security to users of this particular exchange, yet it also costs a lot of money to keep this going. Coinbase invested a lot of money into letting customers manage their own private keys while still reaping the benefits of the exchange’s interface. It seems this service will come to an end fairly soon, which is not the most surprising decision.