Coinbase Review

If you think of the crypto exchange and the pioneer in the blockchain world – Coinbase is the household name! We have prepared this Coinbase review to learn everything about the world’s largest and most popular crypto exchange. 

Coinbase is on the mission to build a new crypto-economy – a more fair, efficient, accessible and transparent financial system enabled by crypto. Coinbase offers access to more than 60+ different altcoins, including Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, Bitcoin Cash and other altcoins. In addition, users can instantly buy Bitcoin or other favourite cryptos via the website and an award-winning mobile app.

They store their digital assets safely in Coinbase Wallet, earn free crypto while learning about altcoins, and have access to Coinbase Debit Card, which allows you to spend money from your exchange account anywhere in the world. And professional traders can have access to a flagship product Coinbase Pro – an institutional-level crypto exchange that services both individual investors and institutional clients. We will cover these and other important points in our Coinbase review, so keep reading. 

Coinbase Review - World Largest Crypto Exchange

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So let’s start this Coinbase review with some background on the company. 

Coinbase Review: Company History

Coinbase was established in 2012 and headquartered in San Francisco, California. It employs more than 1,700 people, operates in 100+ countries, and has more the 56+ million customers worldwide with a quarterly trading volume m of more than $335 billion in digital currencies and $226 billion of assets stored on the platform. 

Coinbase is backed by some of the largest investors in the world, including venture capital funds, investment banks and money managers, and has received more than $500 million in investors’ money so far. Also, in 2021, Coinbase had a historic IPO being the first cryptocurrency exchange that went public on the NASDAQ exchange with ticker COIN and reached more than $100 billion in market capitalisation. 

After an IPO, Coinbase reviews were even more positive, and the company become the household name in crypto and one of the most reliable companies in the new digital economy. But will the company be able to sustain its growth and still deliver exceptional customer service? Would it face scrutiny from the regulator and manage to solve anti-money laundering rules that have clouted the crypto economy? That is, we still yet to see. 

Is Coinbase Safe?

One of the main concerns of the newcomers to the world of cryptocurrency trading is that using exchange platforms is still too risky. That is a fair point, and we saw several hacks last year, but many exchanges provide a very secure trading environment.

All the Coinbase reviews consider the exchange to be one of the most secure platforms currently available. It has also never got hacked. Coinbase is based in the US. Therefore, it is obliged to comply with US State and Federal laws. Unlike some of the competitors based in much more obscure countries, Coinbase engaged in discussions with regulators to ensure they create an open and innovative financial system. Some people complain that Coinbase operates more as s bank.

Still, we guess this layer of additional security and regulation is required to provide a safe trading environment to its customers. In addition, Coinbase has some of the largest international investors among its backers, including the New York Stock Exchange, Bank of Tokyo, BBVA, Spark Capital, Greylock Partners, Battery Ventures, Section 32, Draper Associates and others, which boosts its legitimacy.

Coinbase also segregates customers funds from its own and keeps them separately with a custodial bank. That means that even in the case of insolvency. Neither Coinbase nor its creditors would be able to touch clients’ funds or have any rights for them. Coinbase also states that 98% of client cryptocurrency funds are stored offline through hardware or paper wallets stored in secure locations (vaults and safety deposits) worldwide.

And the remaining 2% that is stored online is insured against a hack or a loss, so even if something happens, clients still will be able to get their money through an insurance policy. In addition, Coinbase offers a 2-factor identification method through SMS or third-party apps like Dou or Google Authenticator.

However, if clients’ accounts are hacked or compromised, Coinbase reviews the incident but does not accept any liability for these funds lost. That is why we recommend that once you have purchased any cryptocurrency on the Coinbase exchange, you store this cryptocurrency offline in a wallet that you control.

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Coinbase Review: Platform Features

As we already mentioned in this Coinbase review, the platform has several unique features, so let’s go into more detail. 

Buy and Sell Crypto

Coinbase becomes so popular among retail investors that it made buying crypto an easy and hassle-free experience. Unlike many other crypto exchanges with trading terminals that only experienced users can easily navigate, Coinbase users can buy Bitcoin or their other favourite crypto in a few clicks. 

Coinbase Review - Buy Bitcoin

Coinbase offers access to more than 80+ different altcoins, and you can buy your favourite crypto in just a few clicks. All you have to do is deposit some money with Coinbase, choose what altcoin you want to buy and how much you want to spend in fiat currency. Then, Coinbase’s Instant Buy will execute a transaction at the current market price, and coins will be in your Coinbase wallet in a matter of seconds. 

Coinbase Review - Explore Assets

While Coinbase’s Instant Buy feature is very straightforward, it also has some limitations, especially if you are an experienced trader and want flexibility when trading. For example, you won’t have different types of orders, and you want to automatically execute at the desired market price. However, that is not a problem for most ordinary investors, and they find Instant Buy functionality very useful. On the other hand, professional traders have access to the Coinbase Pro, which offers an institutional-level trading platform, which we will cover in detail later in this review. 

Earn Free Crypto

For beginners who only start making their first steps in the world of crypto investing, Coinbase offers an excellent opportunity to earn some free crypto while learning about them. When writing this Coinbase review, users can earn tokens by learning about SKALE, Ampleforth Governance Tokem Thee Graph, Stellar Lumens, Compound, NuCypher, Calo, Band Protocol, Numeraire, Algorand, Filecoin, Tezos and others. 

Coinbase Review - Earn Free Crypto

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So how does Coinbase Earn works? Very simply

All you have to do to claim free crypto is to watch a series of videos about each particular altcoin and then complete a quiz to test what you have earned. You then receive free crypto to your Coinbase Wallet for each examination that you completed. The opportunities with Coinbase Earn are limited to a specific number of tokens, and the company runs new promotions all the time. So if you are interested in earning free crypto while also learning about new digital assets, check the Coinbase website to check out the latest promotions of Coinbase Earn. 

Coinbase Mobile App

Most of the Coinbase reviews report mobile app to be one of the most user-friendly mobile apps that have won numerous awards for usability. You can view your entire crypto portfolio, monitor prices of individual altcoins, transfer or receive, buy or sell cryptos, have access to your Coinbase Wallet and all other Coinbase features in one place. Professional traders can also enjoy a dedicated Coinbase Pro mobile app designed for experienced traders and have all professional tools. Coinbase mobile app is available on Android and iOS.  

Coinbase Wallet

Coinbase Wallet is a standalone mobile app different from the Coinbase app mainly used to buy and sell cryptocurrencies on the Coinbase exchange for fiat currencies. 

Coinbase Review - Coinbase Wallet

Coinbase Wallet is a separate, standalone app that allows users to store or custody their crypto or explore the decentralised web with the Dapp browser. Users don’t need to have a Coinbase account to use Coinbase Wallet app, and they can send and receive crypto and other digital assets (like NFTs, for example).

Coinbase Wallet supports more than 500+ tokens, including but not limited to BTC, ETH, USDT, UNI, LINK, BCH, USDC, LTC, and hundreds more. It also allows you to store all your digital collectables and buy, sell or store your NFTs in a single beautiful gallery. In addition, Coinbase Wallet offers secure storage protected with Secure Enclave, biometric authentication and optional cloud backups.  

Coinbase Review - Coinbase Wallet NFT

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Coinbase Card

Coinbase was one of the first crypto exchanges to offer a Visa Debit card funded directly by your Coinbase account balance. That makes it so much easier to spend your crypto worldwide, just as you would do with a regular debit or credit card. You can use it in millions of locations and use contactless payments, PINs or withdraw fiat cash from any ATM. With Coinbase Card, you can also choose which particular cryptocurrency you want to pay through the app. And Coinbase world-class security with 2-step verification, instant card freeze and other security features ensure that your funds are safe and secure. 

Coinbase Pro Review - Coinbase Card

How to Buy Bitcoin or other Altcoins with Coinbase? 

As we mentioned before, Coinbase democratised your digital investing and made buying and selling crypto a pleasant and straightforward experience. So let us show you in this Coinbase review how to buy Bitcoin with Coinbase in 4 easy steps. 

Step 1 – Open an Account

First, you need to open sign up for a Free Coinbase account. Then, all you need is to provide your name, email, and password and get your account registered. Once you confirm and verify your email address, you will go to a page to establish an individual or business account.

Coinbase Review - Open Account

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Step 2 – Account Verification

Coinbase takes security matters very seriously and has one of the most advanced security systems in the industry. Once you open the account, you will need to verify your phone number and create a 2-factor identification process. Once your phone number is verified, you will also need to verify your identity. To verify your identity, Coinbase will ask for a copy of the passport or other forms of ID. Then, all you have to do is put your ID in front of a web camera so the picture can be taken and verified by the exchange.

Step 3 – Deposit Funds

Once your account is verified, you will need to set up a payment method to fund your Coinbase account – connect your bank account or credit card. For a bank account, Coinbase will often set up two small transactions to verify your bank account. Bank transfers can take up to 4-5 days to complete in the US, or if you are based in Europe, SEPA transfers will take 1-3 days. However, if you are using a debit or credit card, you can complete the transaction immediately. Also, you can connect to a PayPal account, but it will only work for withdrawals.

Step 4 – Buy Bitcoin

Once the payment method is connected, you can start buying or selling straight away. Once you select what currency you would like to buy, it will appear in a relevant digital wallet that Coinbase provides for each coin. There are also trading fees associated with transactions which we are going to cover in the next section.

Coinbase Buy Bitcoin

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Coinbase Review: Fees & Charges

Coinbase has done a great job in reducing transaction fees for ordinary investors, and all buy or sell orders are completed via Coinbase Pro exchange to ensure the best price. Coinbase typically charges a 0.5% spread per transaction which sometimes can be higher if there is no liquidity in the particular altcoin. For smaller transactions between $10 or $50, Coinbase also charges a minimum fee ranging from $0.99 or $2.99 per transaction. Fo cryptocurrency conversions, Coinbase charges a 2% spread margin. 

Coinbase fees are some of the most competitive in the industry. Still, if you plan to trade Bitcoin or other cryptos more often and don’t want to pay 0.5% each time you trade, you might want to consider switching to a Coinbase Pro account where trading fees are considerably lower. 

Coinbase Transaction Limits

Transaction limits vary for different countries and also depend on the payment method. In the UK, the starting purchase limit on the credit card is £500, increasing (you need to request it). The daily limit for bank transactions is £10,000, but that also can be changed and increased.

Coinbase Pro – Institutional-level Crypto Exchange

In 2015, Coinbase set up dedicated crypto exchanges designed for institutional and professional traders called Coinbase Pro. Unlike Coinbase that makes buying and selling a seamless experience for any user, Coinbase Pro, on the other hand, is catering for a sophisticated segment of the market. Coinbase Pro has an advanced trading terminal with charting tools and a real-time update on all cryptocurrency prices; it has multiple order types as Market, Limit or Stop price and other features designed for experienced traders. Coinbase Pro also offers leveraged trading, and it has considerably lower fees compared to the Coinbase app. 

Coinbase Pro Review - Most Trusted Trading Platform

Coinbase Pro offers access only to a wide range of cryptos that you can trade against USD, EUR or GBP but can also trade different crypto-pairs, and the list is endless. In addition, you can see the depth of the market and the whole exchange order book to get a sense if there is more demand to buy or to sell specific cryptos. 

Designed for Professionals, Good for Beginners

While Coinbase Pro was designed for seasoned traders and professional investors, we found its trading terminal quite user-friendly. So beginner investors might also find having a Coinbase Pro account beneficial. You will be able to avoid Coinbase fees by using Coinbase Pro as your buying/trading platform by sending a bank transfer to Coinbase and then Coinbase Pro terminal for purchasing. All Coinbase customers automatically have a Coinbase Pro account, so all you have to do is log in with your Coinbase credentials. You might need to do an additional verification in some countries and provide a different form of ID. 

Coinbase Pro Review - Coinbase Pro

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Cutting Edge Technology & Security

Coinbase Pro Trading Platform comes with an intuitive interface, advanced charting tools and order history. This Coinbase review won’t be complete without mentioning other features such as:

  • FDIC Insured. FDIC insures customer funds in USD. That means that the US regulator protects balances up to $250,000.
  • Real-time market data 
  • Secure Storage. 98% of the clients’ funds are kept in cold storage for extra security.
  • API Connectivity. Coinbase Pro offers connectivity via API for algorithmic trading, which traders use for programming trading bots. That is one of the main reasons many institutional and professional investors prefer Coinbase Pro to other trading venues.
  • IT Security Checks and Regular Audits. Coinbase Pro places an enormous amount of value on keeping their platforms safe and secure place.

Advanced Market Order Types

In addition to such trading features, in this Coinbase review, we would like to mention the full set of advanced trading orders available for execution. 

  • Market Buy. Pretty standard feature as on most of the other exchanges, which allows you to pay lower fees.
  • Limit Buys. This feature allows traders to set a price limit for which they are willing to buy or sell their digital assets. For example, if you think the price for Ethereum will go down, you can set an order with a lower limit price, and Coinbase Pro will automatically fill the order once the ETH price reaches that level.
  • Stops. This feature allows you to set stop loss which could be pretty valuable, especially if you are not in front of your computer all the time. As you know, Bitcoin and Ethereum prices could be somewhat volatile, and if you don’t liquidate your position, you can suffer considerable losses. With stop-loss, you can get Coinbase Pro automatically to fill the sell order if the price drops below the level you set.
  • Margin Trading. That is an advanced feature used by most institutional and professional traders. You can get up to 2x and 3x leverage depending on the crypto trading pair. But you have to be careful when trading with leverage and surely know what you are doing.

Is Coinbase Legit? 

As we are nearing the end of this Coinbase review, let’s answer the most important questions our readers have been asking us. Is Coinbase legit? Is Coinbase Safe? Is it Trustworthy? 

And the answer is straightforward – yes, yes and yes

Let’s put it simply if there is the safest and most trustworthy crypto exchange in the world today, that would probably be Coinbase. Of course, it is not perfect, and the company is constantly working on improving things and adding new features. But Coinbase made buying and selling crypto an enjoyable experience that that user with any level of experience can do/. 

This Coinbase review won’t be complete if we don’t mention one fact – unlike many other large crypto exchanges, Coinbase has never got hacked! The company spends a ton of money on its security, and we hope it will stay that way! 

Also, Coinbase is based and regulated in the US, making this crypto trading venue even more reliable. Coinbase is the only crypto exchange that is FIDIC insured. That means that the government protects each client’s assets up to $250,000. That is standard for all banks and traditional financial institutions, but Coinbase managed to secure such a deal for its users is phenomenal. 

coinbase

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Coinbase Review: Pros and Cons 

Let’s finish off this Coinbase review by discussing the pros and cons of this crypto exchange. While pros outweigh the cons, there is always room for improvement. 

? Pros

✅ Easy to Use interface. Ideally suited for beginner investors and allows you to buy Bitcoin or other cryptos just in few clicks. 

✅ Highly Regulated & Secure. Coinbase is a US-based listed company regulated and FIDIC insured – in the crypto world, you can have more than that! 

✅ Coinbase Card. Links your Coinbase account balance to branded Coinbase card so you can spend your crypto anywhere, anytime. 

✅ Highly Secured Wallet. With Coinbase Wallet, you can store more than 500+ digital assets and various NFTs. No need to go any further!  

✅ Coinbase Pro – professional trading set up for institution-grade crypto investors. 

? Cons: 

No available in all countries (but getting there!)

Lack of Anonymity & Strict KYC – transactions can be monitored (but that is not a problem if you have nothing to hide!)

Higher than average fees (trade via Coinbase Pro to reduce transaction charges)

❌ Tax-compliant and will share US-users info with tax authorities.

Final Verdict –  


Coinbase Review: Ranking –  

So is it worth using Coinbase to buy crypto? Is it a good trading platform? Can I trust Coinbase? The answer is YES! We have completed this Coinbase review and can confirm that Coinbase honestly earned its reputation as the most popular crypto exchange in the world. It might not offer as extensive a list of altcoins as Bitfinex, for example. Still, it takes customer experience and security seriously and is far ahead of the competition on that front. 

Coinbase constantly innovates new products and has one of the best crypto wallets that allows you to store any private key that you want. In addition, Coinbase was one of the first to introduce a Debit Card linked to crypto balance. Finally, for beginner traders, Coinbase offers an opportunity to earn free altcoins while learning about them!

So, what are your thoughts about this Coinbase review? Is Coinbase a scam? Isn’t that just what it seems to be? Is it, in fact, a trustworthy and worthwhile exchange? Will you use it to store your cryptocurrency? Leave your thoughts in the comments section below!

The information on this website is not intended to provide tax, investing, trading, or other types of advice.  EthereumTrading.pro does not recommend or approve the purchase, sale, or holding of any cryptocurrency. Consult your financial planner before making any financial investment decisions.

FREQUENTLY ASKED QUESTIONS ABOUT COINBASE

Is Coinbase a reputable cryptocurrency exchange?

Yes, Coinbase widely regarded as one of the most trustworthy and reputable crypto exchanges. It has earned a reputation for being both stable and long-term dependable. Furthermore, Coinbase complies entirely with all applicable official regulations governing cryptocurrency trading.

What are Coinbase's key features?

Coinbase is easy to use, so it also regarded as one of the best places to start trading cryptocurrency. Furthermore, the platform is exceptionally safe, as the vast majority of its assets are stored in offline storage (in other words, in some cold wallets). Finally, Coinbase accepts fiat currency transactions as well.

Are there any complaints about Coinbase?

Yes, some Coinbase users have expressed dissatisfaction with the platform. The majority of the concerns stem from two major issues: the platform restricting the amount of exchange and trade you can make and disclosing all of your activities to government agencies. In addition, the crypto exchange platform has some pretty high fees.

Is it a good idea for me to use Coinbase?

It is debatable. In most cases, using this cryptocurrency trading platform would not be a mistake. However, it may not be suitable for everyone; for example, if you're a seasoned trader who enjoys privacy and anonymity, Coinbase may not be the best option. If you're just getting started, however, it's undoubtedly one of the better choices.

Is Coinbase accessible from anywhere in the world?

No, it's not true. Though Coinbase is available in various countries (including most of the United States), it is still unavailable in several regions. If you want to start using Coinbase, make sure first to check the list of countries where the platform is available.

Is Coinbase a decentralised platform?

No, it's not the case. Indeed, this often cited as one of the crypto exchange site's significant issues. That essentially means that it will submit your information to the appropriate governmental agencies, the most notable of which are those dealing with taxation. Although it is part of Coinbase's protection guidelines, it is still a significant impediment for several.

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Up to $132

? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company