Coinbase

Written By
Deniz Saat
Reviewed By
Jonathan Hamel

Coinbase, a beginner friendly cryptocurrency exchange with high liquidity. One of the largest and most trusted, Coinbase contains the top cryptocurrency assets and high end features.

Overview

Beginner friendly

High liquidity

Good selection of top cryptocurrency assets


Overall Rating
  • Features
  • Ease of Use
  • Payment Options
  • Fees
  • Security

Jump to Section

Who Are They?FeaturesCurrencies SupportedPayment MethodsSupported CountriesFees and Buying LimitsCustomer Reviews
Is 
Coinbase
 Safe? 
ProsConsFAQ

Who are they?

Founded in 2012, Coinbase is one of the largest and most widely trusted cryptocurrency exchanges that allows the smooth transaction of digital assets. Created by Brain Armstrong and Fred Ehrsam, Coinbase provides a user-friendly platform that allows anyone to buy, sell, and trade cryptocurrencies. Coinbase has over 13 million active users and has processed more than $50 billion worth of digital currency transactions to date.


Features

Coinbase has been rated as one of the best platforms for newcomers. Here are some of the features that are offered:

  • Simple and Sleek Interface: Coinbase’s exchange is well known for its simplicity and easy-to-use platform. The platform allows anyone to buy and sell cryptocurrencies quickly without any prior trading experience.
  • Two-Factor Authentication: Coinbase provides several options (TOTP, SMS/Text) to generate 2FA codes for enhanced security.
  • Brokerage Services: Coinbase allows customers to easily buy, sell, and store cryptocurrencies in exchange for fiat currencies.
  • Coinbase Wallet: This is an independent mobile wallet launched by Coinbase that allows users to store their cryptocurrency on their device.
  • Staking: Coinbase Staking allows users to earn income with their coins. Coinbase stakes cryptocurrency on behalf of the user and deposits the staking rewards into the user’s account. Only Tezos (XTZ) is currently supported for staking.
  • Coinbase Vault: This is an added feature within each Coinbase wallet that offers additional security for storing a large number of crypto assets.
  • Merchant Solutions: Coinbase provides online merchants the privilege to accept cryptocurrency payments from anywhere around the world.
  • USD Coin (USDC): USDC is a stablecoin launched by Coinbase.
  • Custodial Services: Custodial services offer cold storage solutions for institutional investors.
  • Coinbase Earn: Coinbase’s Earn feature allows users to earn cryptocurrencies while watching tutorials.
  • Paradex: This is a platform that allows traders to trade directly from their wallets.
  • Coinbase Ventures: A service that invests in emerging companies that work to build an open financial system.
  • Coinbase Borrow: Borrow cash using Bitcoin or another cryptocurrency as collateral.
  • Coinbase Pro: Advanced Crypto trading for all customers.
  • Coinbase Card: Spend your crypto and earn rewards for buying products with the Coinbase card.
  • Coinbase Commerce: Accept crypto from anyone with Coinbase Commerce.

Cryptocurrencies

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • EOS(EOS)
  • Tether (USDT)
  • Bitcoin SV (BSV)
  • Stellar Lumens (XLM)
  • Crypto.com (CRO)
  • And many more...*

*Some cryptocurrencies are unavailable based on your location.

Fiat Currencies

  • United States Dollar (USD)
  • EURO (EUR)
  • British Pound (GBP)

Payment Methods

Coinbase supports the following payment methods:

  • ACH (Automated Clearing House) transfers
  • Bank wire transfer services
  • Debit card
  • Paypal (Withdrawals only)
  • Cryptocurrency deposits and withdrawals
  • Apple Pay

Supported Countries

Coinbase is accepted in more than 100 countries across the globe.

  • North America (18 countries)
  • South America (8 countries)
  • Europe (39 countries)
  • United Kingdom
  • Oceania (1 country)
  • Asia (19 countries)
  • Africa (13 countries)

Fees and Buying Limits

Coinbase fees:

  • A spread fee of 0.5% for fiat-to-crypto traders and 2% for crypto-to-crypto conversions.
  • A flat transaction fee that is based on the user’s location and payment method.
  • Fund limits for deposits and withdrawals are specific to the user’s country and payment method.

Coinbase may charge fees when you buy, sell, or convert cryptocurrencies. Fees are calculated at the time you place your order and may be determined by a combination of factors including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. The applicable fees will be listed in the trade preview screen which will be surfaced before you submit your transaction, and may differ for similar transactions.

Additionally, Coinbase includes a spread in the price when you buy or sell cryptocurrencies or in the exchange rate when you convert cryptocurrencies. This allows us to temporarily lock in a price for trade execution while you review the transaction details prior to submitting your transaction.

Customer Reviews

“It's probably one of the easiest ways to buy and trade crypto, earn crypto, and let your company start accepting cryptocurrency. We've tried other ones and it's not as easy as Coinbase.” Reference

Not only is Coinbase widely recognized as the world’s largest bitcoin exchange, it’s also considered one of the safest. It’s backed by trusted traders and uses the latest technology to secure its platform.” Reference

“Many people in the community complain that Coinbase isn’t really very support oriented and that many times issues aren’t explained to the customer.” Reference

Is 

Coinbase

 safe? 

Coinbase prides itself on being one of the few exchanges to operate in New York and hold a BitLicense. Coinbase employs a multi-layer security process that mitigates theft from its users and any malicious transfer of funds. The company stores almost 99% of its digital assets in offline cold storage that is distributed across different parts of the world. All digital assets and fiat deposits stored in its accounts are insured, and the insurance policy covers any loss of funds through fraudulent activity. Stringent security measures are provided for the users to safeguard their accounts from bad actors.

Pros of 

Coinbase

  • Ease of use and simplicity  
  • High Security and High Liquidity
  • Multiple payment methods that include: wire transfer, credit card, and PayPal
  • Access to a wide selection of the top cryptocurrencies

Cons of 

Coinbase

  • High transaction fees
  • Customer support has mixed reviews

FAQ

1. What is the difference between Coinbase and Coinbase Wallet?

Coinbase provides a cryptocurrency brokerage service that allows traders to buy, sell, and store digital assets. Coinbase Wallet allows users to store their private keys on their devices and not with any centralized exchange.

2. How long will it take to withdraw digital assets from Coinbase?

The domestic transfer or ACH process takes approximately 1-2 business days to complete after a sell or withdrawal option is initiated.

3. What is Coinbase Pro?

Coinbase Pro is a cryptocurrency trading platform that is intended for advanced traders.

4. Is it safe to store money on Coinbase?

Although Coinbase has an excellent track record for security, it is always recommended to not leave large sums of money or cryptocurrency on an exchange. The majority of one’s crypto holdings may be better stored offline in cold storage or with a trusted custodial service.

WRITTEN BY
Deniz Saat
Deniz Saat is an IT services specialist and technical writer.
REVIEWED BY
Jonathan Hamel
CEO and Founder of Académie Bitcoin

More questions? Book a 1:1 video call with a Bitcoin Pro!

Don't waste your time with DMs, emails and large group chats to get your questions answered. Consult with one of our thought leaders and learn about mining, security, Lightning network, DeFi, taxes and many other topics. Be prepared for the financial revolution and get the knowledge you need.

Connect with a Pro

Sign up for more

Stay curious. Bitcoin education featuring blogs, learning tools and reviews to help you navigate through the financial revolution.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Other Exchange Reviews

If you’re interested in buying bitcoin, these exchanges are a good place to start.

Read more reviews

Subscribe to Our Newsletter

Stay curious. Bitcoin education featuring blogs, learning tools and reviews to help you navigate through the financial revolution.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.