Coinbase Review & User Rating 2020
Coinbase is the world’s biggest and one of the best-known bitcoin and cryptocurrency brokers. Founded in 2012, this San Francisco based exchange has become a worldwide gateway into the crypto world. Today, it operates in 102 countries from Africa, Asia, South & North Americas, Australia, and Europe. You can use it to exchange bitcoin, ether, litecoin, bitcoin cash, XRP, and ten other popular cryptocurrencies. It’s quick and easy to use, secure, and comes with reasonable exchange fees (although not the lowest). Besides, you can access it via your smartphone, which makes it one of the most convenient cryptocurrency exchanges for crypto market beginners.
- Web address: Coinbase
- Main location: San Francisco, US
- Mobile app available: Yes
- Is decentralized: No
- Parent Company: Coinbase, Inc.
- Transfer types: Bank Transfer, Credit Card, Debit Card, Crypto Transfer
- Supported fiat: USD, EUR, GBP
- Supported pairs: 15
- Fees: High
- One of the easiest ways to buy bitcoin and over ten other top altcoins. Coinbase lets you purchase cryptocurrency using your credit/debit cards, bank account, wire transfer, other cryptocurrencies, and other localized payment methods (differs per country).
- A worldwide exchange that supports many fiat currencies. If Coinbase operates in your country, it likely accepts deposits in your native currency.
- An insured and regulatory compliant US exchange. Coinbase is one of a few exchanges which is actually regulated and insured by FDIC. Even if it were to fail as a business, the customer funds held in custodial bank accounts wouldn’t be claimed by creditors.
- A Coinbase’s own USDC stablecoin. Unlike most exchanges, Coinbase utilizes its USD Coin (USDC) issued by the company together with Circle. It is fully regulated, transparent, and verifiable stablecoin with regular audits.
- Coinbase card. Coinbase customers from the United Kingdom, Spain, Germany, France, Italy, Ireland, and the Netherlands can order a Visa debit card which allows you to buy and sell goods and services with cryptocurrency. According to the company, more countries will be available soon.
- Earn crypto with Coinbase. Coinbase Earn program lets you earn cryptocurrencies by merely learning about them. Complete courses about cryptocurrencies like EOS or Stellar Lumens and get $50 worth of them in return.
- Additional bitcoin and cryptocurrency services. As a Coinbase customer, you can also make use of Coinbase’s custodial and non-custodial crypto wallets, OTC trading, Coinbase Commerce tools for businesses, and much more.
- An excellent starting point for beginners. Coinbase is tailored for cryptocurrency beginners and has been a starting point for the majority of traders. There are no trading charts, too, so if you need a more advanced trading interface, check out Coinbase Pro.
Today, Coinbase operates in 102 countries in Africa, Asia, Australia, Europe, North America, and South America. Currently, supported countries include the key markets in the United States, Australia, the United Kingdom, Singapore, Canada, Switzerland, Brazil, Argentina, Mexico, Poland, Spain, France, Hong Kong, Indonesia, South Africa, and many other countries.
Coinbase has proven to have robust security measures and has never been hacked before. Besides, it is a fully regulated exchange and holds various licenses required for operating in different states.
When opening an account, every Coinbase user is asked to submit documents for KYC verification. Coinbase verifies your identity using a passport, ID or driver’s license, as well as a proof of address (recent utility bill or so). The check must be passed in order to buy or sell any cryptocurrency.
Deposit and withdrawal methods
Buying bitcoin is an instant process with a credit or debit card on Coinbase. Meanwhile, buying via a bank or wire transfer takes approximately 1-3 business days to clear the transaction in most places in the world. Cryptocurrency deposits do not cost you a cent (except for the network fees), and their clearing speed depends on the speed of the blockchain.