What is Coinbase
Tcoinbasehe world’s largest Bitcoin Exchange and also one of the most popular cryptocurrency trading platforms on the Internet. It’s a newbie-friendly Bitcoin exchange where you can easily buy and sell cryptocurrencies. This exchange enables easy and secure shopping, usage, possession and trading with digital currencies, especially Bitcoin. Coinbase is supported by the top reliable investors and being used by millions of users worldwide. At the exchange you can buy Bitcoin, Ethereum, Litecoin and now also Bitcoin Cash. You can buy them with a digital wallet available on Android and iOS. It is also possible to trade with other users through a subsidiary company of Coinbase, Coinbase PRO. Read on this Coinbase review to find out what is Coinbase and how safe is Coinbase.
- Deposits and Withdrawals
- Buy and sell cryptocurrencies – BTC, ETH, LTC, BCH
- Coinbase registration
- FAQ answered
- Pros and Cons
- Coinbase review – Summary
Deposits and Withdrawals
The way deposits and withdrawals are made seamlessly tells a lot about how safe is Coinbase. There are two payment methods for bank deposits or withdrawals: bank transfer or credit cards. You can send money to your account in EUR or USD, so you probably will not avoid the currency conversion fees that banks usually charge. You can also send BTC/ETH/LTC/BCH from your virtual wallet to your Coinbase account. Therefore, in your Coinbase account, you have just five wallets: a wallet for each cryptocurrency and a wallet for the account currency (EUR or USD).
Bank transfer should not take longer than 3 business days. Payments with cards and cryptos are usually processed within minutes. Coinbase also offers a partner program where you can make money for bringing new (and active) members into the system. If someone registers through your unique link and buys/sells cryptocurrencies for at least $ 100, you get a $ 10 bonus. The user recommended by you will also get the same amount.
Buy and sell cryptocurrencies – BTC, ETH, LTC, BCH and many more..
The dashboard tab lists the current prices for all supported cryptocurrencies. To buy and sell cryptocurrencies, simply open the BUY/SELL tab. On the selected tab choose the crypto you want to trade with. Then choose the payment method and the amount you want to buy or sell. Trading is limited by weekly limits, which you can lift in case of need. Realization of the transaction takes in the most cases just several minutes.
First you need to make quick registration. Click on Sign Up button in the top right corner.
Enter your name, surname, email address, password, and then agree with conditions. After that you should click on Create Account and you will receive a verification email with the confirmation link. Once you confirm the verification email, you need to verify your phone number. These two verification steps illustrate how safe is Coinbase.
Enter the phone number for the authorization SMS, wait for the seven-digit code, type it in the next screen and click on Verify. Your account is now open. Now you can see the main Dashboard.
After you have done the registration, you can start to buy and sell cryptocurrencies.
The amount of fees varies for individual payment methods and countries. For European users the fees are as follows: standard buy or sell trade: 1.49%, credit card purchase: 3.99%. Coinbase also charges a small fee for withdrawing via bank transfer. For deposits and withdrawals in virtual currencies (eg deposit in bitcoins) the fees are not applicable.
The Coinbase platform is simple and clear, but the trading fees are relatively high. For example, almost a 4% charge for credit card purchase is good for long term traders but can cause big costs for short term speculators. But there is a way to avoid these charges.
The Coinbase Platform allows you to simplify access to the PRO version operated by the same company. If you create an account with Coinbase PRO, you can trade with a 0.3% charge or even 0% transaction fee. Money can be quickly and easily transferred between PRO and Coinbase so it meets requirements for professionals and beginners all together.
|Name||Coinbase (cryptocurrency exchange)|
|Operator||Coinbase UK, Ltd. (United Kingdom)|
|Year of Establishment||2012 (USA)|
|Fiat currencies||EUR, USD|
|Cryptocurrencies||Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH)|
|Deposits/Withdrawals||Bank transfer, credit cards (fiat currencies), virtual wallets (cryptos)|
|Trading limits||Yes (individual, can be increased)|
|Required personal documents||Yes|
|Min. transaction||1 EUR|
|Security (How safe is Coinbase)||2FA|
|Additional benefits||Commissions for recommended clients|
How safe is Coinbase?
cryptoElvis team has done more than 100 purchases via Coinbase without any problem. Coinbase is one of the most secure platforms for purchasing coins supervised by strict regulations. All this makes Coinbase exchange great place to buy and sell cryptocurrencies and start with crypto.
Can I store my Bitcoins at Coinbase Exchange?
Yes, they also offer electronic wallet service. It is simple way to store your coins in some private place.
Can I open an account at Coinbase in my residence country?
Problably yes! Check the list of allowed countries below:
United States, United Kingdom, Canada, Singapore, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland.
What about the support?
They are overloaded now. Be patient or use community support option to ask basic questions. It may take some time to receive direct answer from Coinbase support but they already made all things very simple and you will probably do not need any further assistance.
What about verification proces?
User have to provide picture of the ID or passport, due to professional regulations rules, the exchange have to ask you for this private information but they are doing their best to keep this info safe and private.
How Fast can I buy Cryptocurrencies via Coinbase?
Instantly if you use credit card payment, or if you want cheaper option you have to consider several days for wire transfer to be processed.
Pros and Cons
Pros: Good reputation, security, reasonable fees, suitable for beginners, deposit is insured
Cons: Inefficient customer support, limited payment options, limited geographical availability, unequal conditions for the residents of different countries, PRO is suitable only for traders
Coinbase review – Summary
Coinbase is one of the largest online exchanges to buy and sell cryptocurrencies. However, the platform references across the Internet are not too dazzling. For example, clients often complain that the company does not provide any customer service. High fees for trading are also criticized. There are also complaints by some users about a slow platform and lack of privacy and anonymity due to the required verification. Many people ask how safe is the exchange and we can confirm that the exchange is one of the most secure Bitcoin exchanges.
On the other hand, it is necessary to highlight the high-quality platform security that has been working without any major problems since 2012. SEPA payments are also favorable and, thanks to links with the highly liquid PRO, you can trade at very interesting cryptocurrency rates there.
Buy Bitcoin at Coinbase and get $10
Nothing can stop you from getting this simple bonus because the exchange has a simple interface in order new traders or investors can buy their first bitcoins easily. To do this, the exchange offers classic deposit methods such as wire transfer or credit or debit card payments.
Sign up by clicking this link: www.coinbase.com and get $10! Just buy or sell ANY cryptocurrency via the exchange at least for $100 and $10 is yours!