Portfolio Balance and Multisig Vaults — Product Update

Over the next month, we will be making a number of significant improvements to our product experience. We started with overhauling our buy and sell flows, and will soon begin rolling out Portfolio Balance and changes to our limits structure. As always, we would love your feedback along the way.

Portfolio Balance

Tracking your portfolio and its performance over time has been one of our most requested features. We’re thrilled to begin rolling Portfolio Balance over the next few weeks. We will initially add this functionality to web and will follow shortly with Android and iOS.

Our aim is to give all customers the tools they need to most effectively monitor their digital asset portfolio and manage their investments. Showing historical balances is the first of many improvements we’ll be making to enhance this experience.

Here’s how it works: your portfolio value represents the fiat equivalent of all crypto and fiat holdings on Coinbase at any given moment in time. So your balance will go up as you invest more on Coinbase or as your assets increase in value. Portfolio Balance does not show gains and losses. Since Coinbase enables customers to send and receive digital assets, we do not currently have an accurate cost basis for all holdings. (As we noted in our tax blog post, this same issue also makes it difficult for Coinbase to generate automated tax reports.)

Over the coming months, we aim to add more tools and information, like showing gains and losses on specific Coinbase investments and viewing historical balances for individual assets, which we hope will make managing your investments that much easier.

Multisig Vaults

As we noted in our blog post earlier this week, over the next 30 days, we will be winding down our support for existing multisig vaults on Coinbase. Multisig vaults were originally introduced as a way for customers to manage their private keys and control their own security while still using the Coinbase interface. However, as forks become more commonplace, the complexity of multisig vaults makes it infeasible to support multisig withdrawals for each additional forked asset. The last day of support will be on April 19, 2018.

Because this product is user-controlled, customers can move funds with the two keys they already control. This change will only result in customers not being able to access the third key that Coinbase controls. Customers should ensure they have access to their two keys over the next 30 days. Otherwise, we recommend customers withdraw all funds from a multisig vault prior to April 19, 2018.

For more information on multisig vaults and the withdrawal process, please read our recent announcement.

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We really appreciate all of your feedback over the last few weeks; and we’re looking forward to hearing your feedback on Portfolio Balance, buy / sell improvements and all of the other changes we have shipped or will soon be rolling out.