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BROKER REVIEW

COINBASE

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November 7, 2021 | 

Jesus Guzman |  0 Comments | 

3337 Views

COINBASE CRYPTO EXCHANGE GENERAL REVIEW

Our Pick

Mimimum Deposit

$100

Crypto

currency
currency
currency

Regulation

country

Our Score

9

Coinbase is one of the largest crypto exchanges in the world in terms of trading volume and users. As one of the pioneers among crypto exchanges, the platform has made trading a wide range of assets convenient. It is not only a wallet but also offers brokerage services and other investment options and transactions.

The platform prides itself on its flexibility. It is open to change and always ready to offer new services for the benefit of users. For example, it was one of the first crypto exchanges to introduce Tezos staking

Coinbase is constantly being expanded to serve an even larger audience. After serving only select parts of the US for a long time, it has now expanded to the entire US and other European countries. Ultimately, Coin Base appears to be the safest and most reliable digital currency exchange in the world.

This in-depth review of Coinbase covers everything you need to know about the platform. It covers security, fees, how to use the platform and much more. 

Let us get started.

Is Coinbase the safest platform of all? 

Coinbase does not stutter when it comes to security. The platform is considered one of the safest crypto exchanges and offers multi-layered security to prevent hacking or theft. It also offers insurance protection for the assets in its accounts. 

Coinbase understands the vulnerability that comes with storing on the internet. Coinbase keeps more than 98% of its assets in cold storage, which limits the possibility of a hacking attack. These assets are then stored in different locations in security boxes to prevent so much data from being manipulated at once in the event of a mishap. 

Access to customer data by unauthorised persons is virtually impossible at Coinbase. Coinbase offers highly encrypted systems and stores data in secure boxes with less risk of access. It also offers login with 2-step verification, which makes illegal access almost impossible. 

For added security, the platform offers a customer vault where withdrawals are processed within 48 hours. Within this period, customers can cancel any illegitimate or erroneous order. The platform also uses the latest technologies to ensure security

As a provider of services to other businesses, Coinbase has proven beyond doubt that data is safe with them. Finally, the platform also offers an insurance programme for the loss of the assets it holds. 

Deposits and withdrawals methods in Coinbase

Coinbase offers reliable deposit and withdrawal methods for US, EU and UK customers. US customers mainly use wire transfers and bank accounts, which take between 1 and 5 days. EU customers use SEPA transfers, while UK customers use both SEPA and bank transfers. 

The platform also allows PayPal withdrawals and deposits in countries where it does not support wallets, such as Australia and Canada. 

Coinbase also offers a Coinbase card that allows users to spend their crypto holdings at any time. The Visa card syncs with the account to allow spending at shops that accept the credit card and withdrawals from ATM. There is also an app for Android and iOS that allows you to manage and track the card. 

The platform offers a purchase limit that depends on the account and payment method. Verified accounts have a higher purchase limit. 

A phone number, personal data and a photo are required for verification. For the payment method ACH there is a higher limit than for bank transfers. 

Fees
Coinbase's fees are quite complicated. First of all, a surcharge of 0.5% on the market price is levied on all cryptocurrency purchases. On the other hand, the seller receives 0.5% less on the transaction. 

The website offers a flat fee for all transactions under $200. Other transactions incur fees of 1.49% for cryptocurrencies and 3.99% for credit card purchases

The cost for a deposit on the website is $10 for any other method except ACH. Transactions between Coinbase accounts are free of charge. 

The user should also be aware that the website can reject purchases if there are too many exchange rate fluctuations

Coinbase Market and products 

Coinbase is a multi-functional platform for various services. The primary facility is a brokerage where traders buy bitcoin through the website. It offers an easy-to-use platform and affordable rates that make it ideal for buying. The only problem is that the platform holds the coins and not the users. 

The platform's other service is cryptocurrency trading. The site offers high-quality trading in several top cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The trading platform is ideal for experienced traders. 

Coinbase also offers a highly integrated independent wallet. The wallet allows users to trade their assets. It is fully functional on both Android and iOS.

In addition, Coinbase is a reputable crypto merchant solution provider. It offers a special plugin for businesses to accept bitcoin payments. The system is already significant with several established companies such as WooCommerce and Magento. 

Customer support of Coinbase

While Coinbase is generally a great platform, it does not have as extensive customer support as one would expect. It offers a broad knowledge base on most typical customer concerns. For additional questions, the platform offers email support with a response time of 48 to 72 hours. 

It also offers telephone support, although there are times when there is no online customer service representative. Several users have also complained about a lack of detailed service with phone support. Overall, the customer service is not the best one could wish for. 

Educational material you can find on Coinbase

Coinbase is very dedicated when it comes to educating customers. Coinbase strives to make cryptocurrencies popular and is willing to provide users with all the resources available. It offers a great learning centre with all the information for crypto beginners.

The website also has a Coinbase earning programme where you can earn money while learning about cryptos and the website. It also offers other special courses on specific coins like BAT, Zcash and ZRX. 

Coinbase also offers a regularly updated blog with information about the website and the industry

Advantages and disadvantages of using Coinbase

There are many advantages to using Coinbase, such as ease of use and high security. In addition, Coinbase offers detailed learning material and a blog with information about the industry and the website. The website has gained a good reputation over the years, so working with Coinbase comes with the necessary security. There is also a Coinbase Pro for advanced features.

Still, there are a few drawbacks, such as the high transaction costs, the limited crypto and trading features and the not so well integrated customer support. 

Coinbase general overview final words. 

If you are looking for security and simplicity when trading, you should not look anywhere else but Coinbase. The website offers reliable trading and numerous services. Apart from that, it is ideal for professionals who do not need much support.

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