A Powerful Trading Platform for Online Investors
Coinbase Review
Most people in the cryptocurrency world think of Coinbase as one of the most well-known places to exchange cryptocurrencies and get bitcoin wallets. It has more than 20 million users, and over 150 billion transactions have taken place on the site. Coinbase’s transaction fees, which range from 1% to 3.99%, are among the lowest in the industry, and the platform’s user interface is made to be easy for beginners to understand.
Coinbase is a crypto exchange launched in 2012, three years after the birth of bitcoin in 2009. It enables active traders to buy, sell, and hold a variety of trading assets.
Accepted Countries
Mobile App
When it comes to cryptocurrency applications for iOS and Android, Coinbase is among the finest. The Coinbase mobile application, like the website app, simplifies the buying and selling of cryptocurrencies for regular investors.
The Coinbase Mobile app has been rated positively by more than 720,000 users and has been downloaded more than 10,000,000 times. This shows that the app is reliable and has a good reputation. The app is excellent for newcomers because it’s easy to use, even professionally, and responds quickly.
Customer Support
Payment Methods
Coinbase clients may choose from a variety of payment methods, including those from a variety of countries. Debit cards and bank wires are the two most common ways to acquire bitcoin. Each nation has its unique set of deposit, withdrawal, purchase, and sale possibilities. PayPal, Faster Payments, wire transfers, SEPA payments, bank account transfers, debit cards, and 3D Secure Cards are all acceptable deposit methods.
Available Cryptocurrencies
Below are some of the cryptocurrencies that can be traded on Coinbase.
- Dogecoin (DOGE),
- Bitcoin (BTC)
- Shiba Inu (SHIB)
- Polygon (MATIC)
- Solana (SOL)
- USD Coin (USDC)
- Ethereum (ETH)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Cardano (ADA)
- Polkadot (DOT)
- Litecoin (LTC)
- SushiSwap (SUSHI)
Spread Fees
The spread fee on all crypto trades is 0.5% and varies depending on market conditions, the spread between market quoted prices, and the time the transaction is completed. The spread cost is fair compared to other platforms like eToro and Uphold, whose spread fees range from 0.75 percent to 1.80 percent for Ethereum and Bitcoin.
Deposits and Withdrawals Fees
Deposit :
No fee is associated with making a deposit using such an investor’s bank account in the United States (ACH transfer). In the same way, UK residents can add money to their Coinbase accounts for free using either SEPA or Faster Payments. Customers from other countries can make deposits using a wire transfer.
Withdrawals :
To withdraw funds from your Coinbase wallet in the US, you will be charged a fee of between 0.55 USD and 25 USD. In some countries and with specific withdrawal methods, different fees may apply. As seen in the chart below, the time it takes to complete a withdrawal might range from 1 day to 5 days, depending on the chosen method. For customers in the United States, Europe, the United Kingdom, and Canada, the quickest option to withdraw from Coinbase is through PayPal, which is immediate.
Coinbase Pros and Cons
Pros
- The interface is simple to utilize
- Instant ability to purchase cryptocurrency with credit cards or debit cards
- Provides a high level of protection for its wallet
- Allows for a number of different means of payment
- Access to more than 150 different currencies that may be traded
- Very high levels of liquidity coupled with a diverse offering of cryptocurrencies
- User-friendly design and a highly regarded mobile application
- Buy cryptocurrency using fiat currency easily
- Trading that is both easy and complex
- Instant KYC confirmation
- Providing market updates in the form of push alerts and industry-related news
- Providing cryptocurrency incentives in addition to the Coinbase Debit Card
- Instructional content
- Robust safety precautions in conjunction with privately insured finances
Cons
- The primary account’s fees are higher than average.
- If you don’t upgrade to Coinbase Pro, the platform’s pricing structure will likely confuse you.
- Coinbase offers to stake for six different assets; however, the rates are lower than average.
Registration
What Are the Steps to Create a Coinbase Account?
- Let’s go over creating a new account.
- Go to Coinbase.com. To begin, click the [Get Started] button.
- Please enter your personal information, including your name, email address, and password.
- You must agree to the user agreement as well as the policy.
- Begin by clicking on the link that was sent to your email address.
- You can turn on two-step verification during the setup process by giving your current phone number.
- When you sign in using a new device, it will email you a verification number to make sure it’s you.
- Tap the “send code” button. After entering the code, hit the “Submit” button.
- Please verify your identity by providing a photo identification document that we require.
- Connect your mode of payment, taking into account your country.
- You are now ready to invest in cryptocurrency.
Promotion
When you sign up for a new Coinbase account, the exchange will credit your account with $5 in bitcoin. This offer is valid exclusively for new Coinbase users. The bitcoin offer is not subject to any cooling off time.-Once it has been placed into your account, you own it.
Regulations
Coinbase is a licenced e-currency exchange regulated and controlled by the Financial Conduct Authority (FCA) under registration number 900635.
Bottom Line
To summarise the Coinbase review, the exchange is one of the best locations to quickly purchase, trade, and maintain a cryptocurrency portfolio using the website or mobile app. If you’re starting with digital currencies like Bitcoin and aren’t sure which platform to utilise, a trusted brokerage like Coinbase is a good alternative. The main drawback is the somewhat higher trading costs compared to other exchanges.