Exchanges

Coinbase Exchange Review | Is Coinbase Safe and Legit?

If you’re searching for a cryptocurrency exchange, Coinbase Exchange is among the first firms you’re likely to come over. They are one of the most popular, trustworthy, and suggested crypto exchanges in the world, and they are typically cited as the ideal alternative for novices who value simplicity. The issue then is, with all of the other choices accessible, does Coinbase still stand out from the crowd? That is exactly what we will discuss in our  Coinbase Exchange Review.

But, as cryptocurrencies have grown in popularity, so has the quantity of competitors and the general quality of exchanges, implying that Coinbase is now operating in a new and more difficult market.

What is Coinbase?

Coinbase is a trading platform where users may purchase, exchange, and trade supported cryptocurrencies. Coinbase also allows customers to “stake” particular coins, which compensates them for depositing and maintaining their coins on the Coinbase system. Coinbase now supports over 150 coins, with many being added on a regular basis.

It was launched in 2012, just 3 years after Bitcoin was created, and has since grown becoming the largest crypto exchange in the United States by trading activity, with over 73 million authenticated accounts in over 100 countries.

You may even earn bitcoin incentives by using Coinbase’s exclusive Coinbase Earn function. The Coinbase Pro platform, which includes additional order types and increased functionality, will appeal to more experienced traders. Though Coinbase may not have the most reasonable price or fees, its straightforward interface is simple enough for complete beginners to learn in only one trade.

Coinbase, especially, is well-suited to newbie investors looking to purchase cryptocurrencies for the first time. In reality, all you need to do is establish an account, deposit dollars, and you’re ready to buy your desired digital content with touch of a button.

Features of Coinbase Exchange

Some of the best features of Coinbase exchange are:

1. Support of Debit Card

One of its reason Coinbase is one of the top crypto exchanges is that users may purchase Bitcoin as well as other cryptocurrencies using fiat currency through credit or debit card, or bank transfer.

2. Advance Trading

 Coinbase provides two distinct trading platforms. The regular Coinbase platform is simpler to use, making it ideal for newcomers. Customers may examine real-time order books, utilize charting tools, and save money with Coinbase Pro, the more complex alternative.

3. Easy to Use

Many company reviews emphasize Coinbase’s straightforward and user-friendly interface. Prices may be compared, balances can be checked, and buy-sell orders can be executed with a few mouse clicks.

4. Safe and Secure

One of the most essential aspects is that Coinbase retains 99 percent of its assets in offline cold storage, which keeps hackers at bay. One percent of the assets offered on the internet are already insured. Traders are therefore paid in the event of a calamitous incident.

5. Coinbase Mobile Wallet

The Coinbase mobile wallet enables traders to safely store their cryptocurrency. It provides a seed phrase that allows the user to extract the keys to the coins stored in the wallet.

6. Earn Free Crypto

You may earn free cryptocurrency by learning about emerging digital assets with Coinbase Earn. To obtain the free cryptocurrency, simply complete the modules on it. Modules often feature videos and quizzes, and you may earn various sorts of bitcoin.

Coinbase Exchange Pros and Cons

Pros:

  • Coinbase offers new users the opportunity to win free cryptocurrency.
  • Simple buttons with clearly defined prices provide for an easy-to-use design.
  • A diverse and constantly updated selection of coins
  • They created its own stable coin (USDC) to secure users’ investments.

Cons:

  • Fees are roughly in the center of industry norms.
  • Significant identification verification is necessary.

Coinbase Security

In compared to a lot of other top exchanges, Coinbase offers a high level of protection. This is one of the reasons why Coinbase is an excellent choice for anyone wishing to begin investing in cryptocurrencies in a secure manner.

Coinbase employs a number of security precautions to protect customer assets against theft and hacking, as well as in the event of an emergency. Despite being more expensive to use than other exchanges, it is recommended as a cryptocurrency exchange due to improved fund security. The majority of institutions are also interested in these kind of services.

Coinbase employs a number of security procedures for account holders. It is critical to recognize that any cryptocurrency on any exchange account is only as safe as the account user makes it. It is critical to use strong passwords and to take use of available security measures such as two-step verification.

Coinbase offers two-step verification, biometric fingerprint logins, and insurance in the event that Coinbase is compromised, and holds 98 percent of customers’ assets in offline cold storage. Coinbase displays a QR code that symbolizes the private key, which you must then scan with an Authenticator app on your phone.

How to get Register on Coinbase?

To create an account on Coinbase Exchange follow these simple steps:

Step 1: Open the official website of Coinbase or the Mobile app if you’re using phone.

Step 2: Click on the ‘’Get Started’’ button on the homepage of your screen.

Step 3: Now Coinbase system will ask about your personal information like your name, Email and Passwords. Fill all the needed information.

Step 4: Read and accept user agreement and privacy policy and then click Create Account.

Step 5: Now the system will send you a verification mail on your given Email address. Click on the Email and it will take you back to Coinbase Page. You will need to sign in back to complete the process. Now Sign in.

Step 6: Log in to your Coinbase account. You’ll be asked to provide your phone number. Choose your nation. Now enter your mobile phone number and click Continue. Continue by entering the seven-digit code Coinbase texted to your phone number on file.

Congratulations on your successful registration!

Coinbase Wallet

Whenever it comes to crypto storage, Coinbase provides a variety of solutions. To begin, you may store your cryptocurrency on Coinbase. You will not have access to your private keys as a result of this; instead, the security of your coins will be dependent on Coinbase’s security procedures.

You can also opt to migrate your assets to Coinbase Wallet, the company’s independent hot wallet programme. This is a distinct programme that you would download, and unlike Coinbase, it gives you control over your private keys. Because you have more control over your cryptocurrency, you can do more with it.

Coinbase Pro

Coinbase also provides a free exchange platform called Coinbase Pro, which has cheaper costs and other features for customers who frequently trade cryptocurrency.

If you’re just getting started with cryptocurrencies or looking for a long-term store of wealth, Coinbase Pro’s sophisticated capabilities are definitely unnecessary. However, if you want to purchase and trade coins more actively, Coinbase Pro provides extra tools and statistics that you may find useful.

Supported Cryptocurrencies

Coinbase accepts over 100 different cryptocurrencies. Coinbase lists all of the most popular cryptocurrencies, including the following:

  • Bitcoin
  • Ethereum
  • The avalanche
  • Solana
  • Cardano
  • USD Coin
  • Tether
  • Dogecoin

Coinbase Fees

The exchange is one of the world’s largest crypto on-ramps, owing to its straightforward UI and sign-up procedure. The disadvantage is that its fees are usually rather hefty.

On all of its activities, Coinbase employs both a flat and a percentage fee structure. Coinbase has a charge structure that changes based on the action performed on the site. They’ve set up tiers of costs based on the nature and volume of the activity. It may appear unclear at first, but Coinbase charges a flat cost for transactions under $200 and a percentage-based fee for payments over that value.

Coinbase charges a fixed fee that varies according on the size of your transaction: $0.99 for transactions of $10 or less, $1.49 for transactions of $10 to $25, $1.99 for transactions of $25 to $50, and $2.99 for transactions of $50 to $200.

Coinbase Earn

Coinbase provides a “Coinbase Earn” initiative that encourages users to watch videos to learn about various forms of cryptocurrency. Customers must complete a quiz based on what they learnt from the movie. Coinbase users receive cryptocurrency for each quiz completed. This promotion is only accessible for a short time and to a limited number of clients.

Customer Support

Coinbase’s customer care is exceptional and devoted. Customer care is available by live chat, Twitter, email, and phone. You may also fill out a contact form on Coinbase.com. If you feel your account has been hacked, contact Coinbase Support immediately to have it disabled. The phone number for Customer Support may be found on the email request form.

Conclusion

Coinbase is one of the most popular bitcoin investing platforms for good reason. It provides a variety of market-appealing services and goods, as well as a proven secure platform. Furthermore, it continues to broaden its reach to include more consumers.

It is up to you, though, to determine if Coinbase is right or incorrect for you. Hopefully, this in-depth examination has made that decision a bit simpler.

Quick Summary

  • Trading costs include the spread and the Coinbase charge.
  • Free wallet solution with secret key access, or keep your bitcoin on your Coinbase account ($2 minimum to purchase or sell).
  • Insurance plan against theft loss, and the majority of crypto assets are stored offline.
  • Over 150 cryptocurrencies are supported.
  • Accounts can be accessed using a web browser or a mobile app.
  • Option to Upgrade to Coinbase Pro

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