Coinbase Review
4.4/5

Coinbase is world’s largest Bitcoin broker so peoples have good and bad experiences about it but we will cover all important points here to give you accurate details about the platform and its working.

Coinbase, a digital currency platform was founded in June 2012 which deals with all cryptocurrencies like, bitcoin, ethereum, and litecoin etc. It is based in San Francisco, having flat currencies in 32 countries and Bitcoin storage and transactions in 190 countries worldwide. It is world’s largest Bitcoin broker platform where customers can buy and sell cryptocurrencies. The platform has a very simple interface to buy and sell Bitcoins where customers can easily buy Bitcoins through credit card, debit card, wire and via using bank transfer. Coinbase also provides your wallet and merchant services.

Coinbase charges 4% of fees for each transaction but fees can vary if you will transfer coins to an outside address. You can buy Cryptocurrencies easily via your credit or USD wallet but buy through bank account can take 3-5 business days, so the time can vary to receive Bitcoins in your wallet depending on which country you live.

Related pages - Buy Bitcoin with debit card or credit card:

What cryptocurrency can you buy on Coinbase:

  • BTC – Bitcoin
  • ETH – Ethereum
  • BCH – Bitcoin Cash
  • ETC – EThereum Classic
  • ZEC – Zcash
  • USDC – USD Coin
  • BAT – Basic Attention Token
  • ZRX – 0x
  • BSB – Buy & Sell Bitcoin

Which fiat currencies are accepted:

 

  • EUR
  • GBP
  • USD

Which trading pairs do Coinbase offer:

  • BTC
  • USD
  • GBP
  • EUR
  • ETH

Coinbase on social media:

 Twitter – Facebook

 

Limits & Liquidity:

Coinbase offers very high limits; it can be $50,000 for a well verified US customers but its €30,000 for Europian customers.
 

Security:

Coinbase has very high security according to their existing user’s report and due to its high traffic which is almost 10m+ users and $50B+ Bitcoins traded. Users can create three types of wallets with Coinbase such as wallet, vault, and multisig vault. With these wallets, you can keep control of your Bitcoins, offer a unique solution to secure larger amounts of bitcoins. Coinbase also understands that users want to keep control on funds so in multisig vault Coinbase has one key, one key is shared, and the third key is held by the account holder, so two of the three keys allow spending of funds. If Coinbase goes down, you still have both the shared key and your own key. Funds cannot be held because the shared key is encrypted with your password.

Pros:

  • You can buy cryptocurrencies on Coinbase with credit card or debit card, Visa & Mastercard are accepted at Coinbase.
  • Citizens of USA are allowed to buy cryptocurrencies with debit cards on Coinbase (small investments).
  • Coinbase has Weekly purchase of up to $1000 BTC for verified card holders.
  • Variety of Fiat deposit and withdrawal options
  • Instant transfer of coins between users
  • A well-developed API for developers
  • Online and mobile baking services with high security
  • High liquidity and buying limits
  • Simple interface for beginners
  • Easy and faster than most exchanges
  • High security

Cons:

  • Limited payment methods
  • Tracking system for users how they will spend their bitcoins
  • High Transactions fees reported by users
  • Slow Customer Support

Customer Support:

Coinbase has FAQs and also a support forum to answer its user’s questions. You can also ask your question in their community. Coinbase also has social pages like Facebook, Twitter etc. to get more interaction with the platform. In our experience from peoples, they mostly reply within 24-72 hours.
 

Conclusion:

Coinbase is the biggest Bitcoin brokers having their network in all over the world. Due to their simple interface and high-security features, it can be a good trading platform for beginners and professionals. However, as compared with other similar platforms, Coinbase would be a great choice over security, full access to your wallets and easy to buy and sell Cryptocurrencies.
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