Coinbase review: Straightforward platform for cryptocurrency beginners

Coinbase Review

One of the strengths of Coinbase is its intuitive user interface, which can be operated without trouble by inexperienced users as well. The main dashboard displays an editable price chart of cryptocurrencies, along with your portfolio and recent transactions. Use the big Buy/Sell and Send/Receive buttons at the top of the dashboard to purchase and trade crypto. There are a variety of methods available to make deposits and withdrawals from Coinbase. The more popular options include bank transfers (ACH), wire transfers, FPS (the UK), SEPA (Europe), PayPal, debit cards, and Instant Card Payments. Coinbase uses Twitter to keep its customers up to date on the progress of its services.

Full Coinbase review

Coinbase Review

You can access Web3 by connecting supported dApps to your Coinbase wallet. The non-custodial nature of the Wallet enables it to support a greater number of jurisdictions than Coinbase’s custodial services (like the exchange). According to Coingecko, the Coinbase exchange supported 243 coins and 400 trading pairs. One class noticeably absent across all regions is tokens like XMR. Privacy tokens are infamous for harbouring illicit transactions, leading some countries to ban the possession and trading of such assets. Coinbase envisions swiftly listing all assets that meet their strict standards.

Coinbase Review

Don’t Like to Read? Watch Our 2-Minute Coinbase Review

Thanks to those benefits and its top-notch security, Coinbase is one of the largest cryptocurrency exchanges in the world. Read our full Coinbase review to see if it’s the exchange for you. Coinbase is one of the largest crypto exchanges in the world with support in over 200 countries. According to the Bank of Canada, 38% of Canadians use it to purchase bitcoin on the web or via mobile app. It offers trading solutions for beginner, advanced and institutional traders alike. Take a look at what makes it an excellent option for individual traders looking to trade in cryptocurrencies and beyond.

What Cryptocurrencies Does Coinbase Support?

Coinbase Review

I contacted their support multiple times and keep receiving an automated response. I can’t help but to think it seams the company was designed for scam. Coinbase lacks the Earn features offered by many of the leading exchanges and falters quite significantly in this area. For users looking for the best centralized exchanges to earn yield, we recommend checking out SwissBorg, Binance, or Bybit.

Coinbase Review

  • Giving your Social Security number (SSN) to Coinbase is generally safe.
  • Coinbase Wallet is a user-controlled web3 wallet for storing and managing various digital assets, such as crypto, NFTs, and other crypto wallets.
  • The biggest problem with most cryptocurrencies, including Bitcoin and Ethereum, is that their market value is highly volatile, making them less suitable as payment modes.
  • Instead, a fee is charged and there is a spread between the quoted buy and sell prices on the site.
  • (For more on the basic service tier, see below.) At this tier, you’ll pay a fee of at most 0.6 percent for monthly trading volume less than $10,000.
  • As a rough guide, Coinbase’s old fee schedule included a 1.49% fee for most transactions and 3.99% for bank card purchases.
  • We believe everyone should be able to make financial decisions with confidence.

She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it’s information about salt mining, canal mules, or personal finance. If you’re on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The final output produces star ratings from poor (one star) to excellent (five stars).

Sophisticated crypto-traders can use Coinbase’s user-friendly interface, secure wallet storage, and powerful trading tools. It accepts several payment methods, including ACH transfers from a bank account, debit cards, money wires, and PayPal. ACH transfers are the most cost-effective option, because you can deposit money from a bank account without any extra fees. Coinbase has a wide selection of cryptocurrencies, a user-friendly design, and helpful educational content. For more experienced crypto investors, it also offers advanced trading tools, as well as the ability to earn free cryptocurrencies by staking or learning about cryptocurrencies.

Lower Staking Fees

You don’t get to see the fee you’ll pay until you’re about to submit the trade. Coinbase offers good options for both beginner and advanced traders. The Coinbase platform is a good place for traders with experience to land.

Note that the wallet is an independent service accessible without registering on Similar to other wallets like Metamask, Coinbase Wallet users maintain self-custody of their assets that are protected with a seed phrase. It supports EVM and Solana-compatible networks through a browser extension or a mobile app, with major networks like Arbitrum, Avalanche, Polygon, Base, and BNB already pre-installed. The Coinbase trading interface stands out by enabling users to choose between a simple and an advanced interface. The simple interface replaces traditional candlestick charts with easy-to-understand line charts so that traders not technically initiated are not overwhelmed by a lot of information at once. The simple interface provides the necessary information to place straightforward buy or sell trades.

  • Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC.
  • Coinbase comes in at seven for security on CER’s list of Top Crypto Exchanges.
  • Before you can even get started trading on Coinbase, you have to go through the rigorous verification process (which usually involves providing proof of identification).
  • The editorial team then developed a standardized methodology, analyzing 10 key benchmark features and variables to assess quality across the platforms.
  • Whenever you trade on the platform, you’ll encounter a spread of approximately 0.50%.
  • Coinbase is required by law to identify its users, who will be expected to pay taxes on their crypto trades as per local law.
  • So now that we’ve covered the basics of what Coinbase is, in the next section we are going to explore how the buying and selling process works.