Crypto

Coinbase Review: A Cryptocurrency Exchange For Everyone

Written by CHANEL G.

Coinbase is the largest cryptocurrency exchange in the world, with more than 43,000,000 verified users from more than 100 countries. Coinbase also boasts $90 billion worth of user accounts. Read our complete Coinbase review to find out if Coinbase is right.

Review of Full Coinbase

This exchange was created for investors and traders of all levels who are looking to purchase, store and trade cryptocurrencies.

Pros

  • A selection of cryptocurrencies
  • Minimums are low
  • The Year’s Best Mobile App
  • Advanced trading platform
  • Get free cryptocurrency to learn more about the latest digital tokens
  • Accepted Visa cards. The Coinbase debit card lets you use cryptocurrency anywhere Visa is accepted

Cons

  • It is difficult to understand the fee structure
  • Fees are higher for smaller purchases

Top perks

Amazing Selection

Coinbase allows you to trade in 43 different cryptocurrency, including Bitcoin, as well as other major coins and smaller and more recent digital tokens. This is the largest cryptocurrency exchange.

Minimums are low

Coinbase lets customers purchase Bitcoin as low as $25, even though it is currently trading at around $50,000. There are easy ways to make recurring purchases if you want to slowly invest over time.

Mobile app

Coinbase is a mobile application that allows you to buy and sell cryptocurrency from anywhere. It has been rated 4.7 stars by the Apple App Store and 4.4 stars by Google Play Store.

Advanced trading platform

For most users who want to buy, sell, and spend cryptocurrency, Coinbase’s standard desktop portal is sufficient. Coinbase Pro desktop trading platform for active traders is available. Customers have instant access to order book information and charting tools, as well as the ability to place orders on-the-spot.

Earn while you learn

Coinbase allows customers to earn cryptocurrency free of cost. By agreeing to the course, customers can earn as much as $3 to learn about Numeraire. To receive their free cryptocurrency, customers must watch videos and complete quizzes. This is one of many Coinbase offers. Some even offer up to $10 per offer.

Educational resources

Coinbase offers the “earn and learn” feature. A vast collection of educational resources is also available. Want an easy-to-follow but thorough introduction to Bitcoin? This guide will provide information on the tax implications of cryptocurrency investments. Coinbase covers all of these topics and many more.

It is easy to send money

Coinbase allows users to send cryptocurrency to one another using their Coinbase Wallet username.

Access to debit cards

The Coinbase Card is a Visa-branded debit card that can be linked to Coinbase accounts. You can instantly use cryptocurrency at any merchant that accepts Visa worldwide.

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What can be done to improve the situation?

Complex fee structure

Coinbase charges a complicated fee structure that includes a spread (a premium tied to the market exchange rate), and a transaction charge.

It is usually more expensive for smaller transactions.

Coinbase’s fees can be very expensive, especially for small transactions. Coinbase charges $0.99 flat fees to process transactions less than $10 such as purchases and sales of cryptocurrency. Your transaction fee for Bitcoin purchases of $10 will be close to 10%

Other options are available

Stock trading is possible: Robinhood has been voted one of the top Stock Brokers. This platform offers stock trading options and has the largest range of cryptocurrencies compared to traditional cryptocurrency exchanges. It offers 17 cryptocurrencies with no commissions.

You can earn an interest in crypto by visiting Gemini Exchange, which offers a wide range of cryptocurrencies as well as great educational resources. It offers a great trading platform. Gemini Earn allows investors to earn interest on their cryptocurrency balances at rates that are much higher than the most expensive online savings accounts.

How Coinbase works

Coinbase allows users to buy, sell, and spend cryptocurrency. Coinbase offers cryptocurrency wallets to allow users to safely store their cryptocurrency (more details to come later) and services to businesses like the ability to accept cryptocurrency payment.

Coinbase is not an exchange where you can purchase cryptocurrency. It doesn’t offer stocks, options, or any other type investment. Coinbase is the largest U.S. cryptocurrency trading site and offers valuable information and educational resources for investors and traders.

Fees Overview

Coinbase’s fee structure can be a little confusing, which is one its drawbacks.

The fee structure for buy and sell transactions consists of two parts: Coinbase’s spread, which is a markup of approximately 0.5% above quoted exchange prices, and a transaction cost.

Here is where things can get confusing. Coinbase charges a flat rate equal to the transaction fees, or a variable charge depending on a few factors. Below is the flat fee chart.

TRANSACTION AMOUNTCOINBASE FEE
$10 or less$0.99
$10-$25$1.49
$25-$50$1.99
More than $50$2.99

Variable fees can be determined based on the user’s payment method and location. This is how the United States fee structure works:

PAYMENT METHODCOINBASE FEE
U.S. Bank Account1.49%
Coinbase USD Wallet1.49%
Buy a Debit card3.99%
Instant Withdrawal From CardTransactions up to 1.5% with minimum $0.55 fees

This is how it works. Let’s say you buy Bitcoin worth $500 and then transfer the funds into your linked bank account. Flat fee $2.99. The percentage-based fee $7.45. Variable fees are more expensive and will be charged for each transaction.

A selection of cryptocurrencies

Coinbase offers trading in 43 cryptocurrency currently. These are the 10 most valuable cryptocurrencies in terms of market capitalization.

  • Bitcoin
  • Ethereum
  • Litecoin
  • Chainlink
  • Bitcoin Cash
  • Stellar Lumens
  • USD Coin
  • Uniswap
  • Wrapped Bitcoin
  • Aave

The most current list of cryptocurrencies by Coinbase provides additional information about our availability by location.

Coinbase can help you keep your cryptocurrency safe.

Yes. Coinbase holds over $90 billion in cryptocurrency. Coinbase has never been the victim of major cryptocurrency thefts that have taken customers’ funds. Coinbase has at least 98 per cent of its customers’ assets in “cold storage.” This means that they are not stored on any internet-connected devices. It offers the industry’s best online insurance policy and submits third-party financial and security audits.

Reminder: Cash balances in Coinbase accounts can be covered by FDIC insurance up to $250,000 per customer. This is the same as assets in checking or savings accounts at banks.

Coinbase is the best choice if you’re looking to make Coinbase work better for you.

  • A reliable trading platform is essential. It must be intuitive and easy to use.
  • You should look for a platform that provides a lot of educational resources if you are just getting started with cryptocurrency.
  • Visa debit card access required in order to use cryptocurrency anywhere Visa is accepted

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