Coinbase Review 2024: A Reputable Crypto Exchange

Coinbase Review

Coinbase is a comprehensive digital trading platform and one of the best cryptocurrency exchanges for investors interested in buying, selling, and managing 200+ cryptocurrencies. It offers earning rewards, private client services, an advanced trading platform, and an NFT marketplace. The Coinbase apps for iOS and Android are highly rated by users and include many of the same functions and features as the desktop site.

One of the biggest cryptocurrency exchanges around today

To open a Coinbase account, you need to be at least 18 or older, have a government-issued ID, an internet connection and a phone number. Coinbase, like most crypto exchanges, doesn’t charge any fees for opening an account. The basic Coinbase platform has an extremely convoluted fee structure. You don’t pay maker/taker fees or a flat fee, but a spread fee that temporarily locks in the price for the transaction.

Coinbase Services

  • Users get up to $250,000 in pass-through FDIC deposit insurance, which covers certain cash deposits in the event of a security breach, and certain types of theft not caused by user error.
  • Since launching in 2012, Coinbase is said to have facilitated transactions worth more than $455 billion and its 40 million verified users hold over $90 billion worth of assets on the platform.
  • Gemini’s fee structure is even more complex than Coinbase, and its overall fees are higher.
  • There is often confusion as to whether Coinbase is a broker or an exchange, as the two terms are typically used interchangeably.
  • Also, unlike some of its peers, Coinbase strictly adheres to regulations.

A safe and easy-to-use platform for purchasing, transferring and trading crypto. During the 2021 crypto boom, Coinbase has continued to employ more support personnel, improve and simplify its products, and find innovative methods to help clients more quickly and efficiently. The platform now has over 3,000 people dedicated to answering customer questions, representing a more than fivefold increase in support staff since January 2021. Crypto deposits and withdrawals are unrestricted globally, and anyone can deposit or withdraw any supported asset on the platform to any external wallet address.

Coinbase Review

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  • Coinbase also has a wallet that is an ideal alternative for users who prefer a more interactive, on-the-go platform.
  • Similar to Kraken, and Coinbase offer almost identical features and services.
  • One of these helpful security features is a compulsory 2-factor authentication (2FA) system.
  • Similar to other wallets like Metamask, Coinbase Wallet users maintain self-custody of their assets that are protected with a seed phrase.
  • Its platform is popular for its simple interface and accessibility.
  • Coinbase is a cryptocurrency exchange that's built for beginners.

With Coinbase, beginners can get a taste of everything DeFi, including trading crypto assets, participating in DeFi protocols, or even trading NFTs. With the addition of Coinbase Advanced, the exchange provides a smooth transition to more intricate tools for investors looking to dive deeper after testing the shallow waters. Like every other major cryptocurrency exchange, Coinbase hosts an Earn program, where users can earn interest by investing their crypto holdings in passive income products.

Coinbase Review

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  • Coinbase also allows customers who hold some cryptocurrencies with them to participate in staking rewards.
  • Both of these issues can force users to delay their transactions.
  • If you want to trade stocks, options and ETFs while accessing only the most popular crypto coins, Robinhood, Webull or Interactive Brokers could be good alternatives, however.
  • Also, the Commodity Futures Trading Commission fined Coinbase more than $6 million in civil penalties.
  • However, instead of succumbing to these setbacks, Coinbase went back to the drawing board and has since emerged as a fundamentally different and stronger company.

The exchange doesn't charge up-front fees or a subscription fee to set up an account. For example, Coinbase acknowledged on August 3, via its @CoinbaseSupport account on Twitter, that users were having login and connectivity issues. Despite announcing twice that the issue was resolved, customers were still Tweeting their long-standing login complaints and error/alert screenshots up to 10 days later. Once your account is set up, you can easily sort through the long list of assets in the exchange and see a quick view of each one's performance chart.

Payment Methods for U.S. Customers

Coinbase Regulation

Coinbase Review

Coinbase cryptocurrency exchange review

Coinbase Review