Coinbase is the largest U.S based cryptocurrency exchange on which you can trade more than 50 cryptocurrencies. It has become a standard crypto trading platform for modern-age crypto investors. Coinbase is considered one of the safest cryptocurrency exchanges in the world. The company is authorized by many established jurisdictions such as the Alabama Securities Commission, New York Department of Financial Services, Texas Department of Banking, and more under respective license numbers.
For many investors, broker fees are bewildering and even higher than other cryptocurrency exchanges. Coinbase Global was founded in June 2012 and is accessible in all U.S. states, excluding Hawaii. At first, the Coinbase platform lets its clients trade Bitcoin only but then it started adding other cryptocurrencies, including Ethereum, Bitcoin Cash, and other decentralized crypto assets.
The exchange only allows cryptocurrencies that fulfill the requirements needed. It offers a wide range of products, including an advanced trading platform, Coinbase wallet, USD coin, and more.
Is Coinbase can be trusted?
One of the common misconceptions about cryptocurrencies among newbies is that it is still a dangerous investment. However, it is true that there have been challenges in the past with cryptocurrency exchanges. For example, it is open about its storage procedures when it comes to money. In addition, it separates customer cash from company operational funds.
It is regarded as one of the most secure services accessible today. First and foremost, because it is situated in the United States, it must adhere to all applicable state and federal laws. This contrasts with some of their competitors who operate in nations where such platforms may be subject to fewer laws. It claims that the remaining money held online is covered and that consumers will be entitled to any funds lost as a result of this insurance coverage in the event of a hack.
Coinbase has a robust security mechanism that not many other cryptocurrency companies can match. First and foremost, the platform is registered with FinCEN as a Money Services Business. It also possesses Money Transmitter Licenses in a number of US states and adheres to the Bank Secrecy Act. Furthermore, US customers’ funds are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.
You can observe on their website that any funds held on behalf of customers are kept in custodial bank accounts, with neither Coinbase nor its creditors having any rights or entitlements to such assets in the case of insolvency.
Pros and Cons
Pros
- Over 100 cryptocurrencies are available
- User-friendly interface
- Low minimum deposit
- Highly regulated
- High liquidity
- Wide range of Altcoin choices
- No hidden charges
Cons
- High trading fees even in the absence of coinbase pro
- Limited altcoins for pro altcoin traders
- Frequent hacks
How to Open An Account With Coinbase?
You can create your account by following this simple process.
- Sign up and verify your email and phone number
- Add your personal information, including your name, date of birth, address, occupation, last 4 digits of SSN, and the source of your funds.
- Verify your identity with a 2-step verification method.
- Link a suitable payment method according to your country.
- Get started by depositing the minimum funds in your trading account.
Coinbase crypto assets
There are various cryptocurrencies available on its platform. But you may witness limited options of altcoins as a pro-crypto trader. In addition, you can tap into cryptocurrency trading according to the market fluctuations in digital assets. Here are some of the major cryptocurrencies on Coinbase.
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Litecoin (LTC)
- USD Coin (USDC)
- Tether (USDT)
- Bitcoin Cash (BCH)
- Polygon (MATIC)
- Uniswap (UNI)
- Chainlink (LINK)
- Stellar Lumens (XLM)
- Internet Computer (ICP)
- Ethereum Classic (ETC)
- Maker (MKR)
- Cosmos (ATOM)
- Alogrand (ALGO)
- Compound (COMP)
- Dash (DASH)
- Zcash (ZEC)
- Synthetix Network Token (SNX)
- EOS (EOS)
- Aave (AAVE)
- Wrapped Bitcoin (WBTC)
- Filecoin (FIL)
- Tezos (XTZ)
- Dai (DAI)
- Yearn finance (YFI)
- SushiSwap (SUSHI)
- Decentraland (MANA)
- Basic Attention Token (BAT)
- Enjin Coin (ENJ)
- 1inch (1INCH)
- Ren (REN)
- Loopring (LRC)
- iExec RLC (RLC)
- Kyber Network (KNC)
- SKALE (SKL)
- Storj (STORJ)
- The Graph (GRT)
- UMA (UMA)
- Balancer (BAL)
- Numeraire (NMR)
- NKN (NKN)
- Civic (CVC)
- Band Protocol (BAND)
- NuCypher (NU)
- Origin Token (OGN)
- Mirror Protocol (MIR)
- Ampleforth Governance Token (FORTH)
- District0x (DNT)
- Tellor (TRB)
- Orchid (OXT)
- Celo (CGLD)
- 0x (ZRX)
- Bancor Network Token (BNT)
- OMG Network (OMG)
- Curve DAO Token (CRV)
- Ankr (ANKR)
- Cartesi (CTSI)
- Augur (REP)
Coinbase fee
A spread and a flat percentage fee are the two types of fees charged by the broker. The spread is approximately 0.50 percent of the transaction value. However, it is subject to change owing to market price variations and may differ when the order is executed.
Depending on your payment method, it charges fees ranging from 1.49 percent to 3.99 percent, with credit card transactions resulting in the highest fees. So if you’re looking for the most efficient way to buy cryptocurrency on this broker, you’ll probably consider using your debit card. After all, the coins will be put to your Coinbase wallet as soon as the payment is finalized.
Coinbase costs are generally cheaper than those charged by Coinmama or CEX, which operate on a similar business model. It is wonderful for first-time shoppers, but it’s vital to keep in mind that it’s too expensive, especially if you want to use quick debit card payments.
The other fee is either a set or variable percentage fee calculated based on your location and payment type. This isn’t something you can pick; Coinbase will charge you the higher of the two.
Coinbase Wallet
The Brokers wallet is compatible with both iOS and Android devices. People may use the Coinbase wallet to keep track of price movements, buy and sell bitcoin, and send and receive cryptocurrencies in a simple and safe manner. The distinction is that if you store your funds with it, then it is your obligation to secure them from cyber theft.
You have a few alternatives for holding your assets on it. When you buy crypto assets, you have the option of linking your account to an existing external wallet address or having Coinbase build a wallet address for you and temporarily store your funds. Alternatively, you can keep them in a Coinbase Wallet of your own.
Toshi Holding Ltd. develops and owns Coinbase Wallet, which is a non-custodial digital wallet. It’s available for download as a mobile app and works independently of your Coinbase account. So to use this wallet, you don’t need a Coinbase account at all.
Coinbase Mobile App
It has a full-featured mobile app that can be downloaded for free on both iOS and Android devices. This includes the option to purchase and sell cryptocurrencies, deposit and withdraw funds, and view your portfolio’s value. It’s mobile website has been thoroughly optimised if you don’t have an Android or iOS device. You can use the app to do most of the same things with the account that you can do on the main desktop site.
Coinbase Pro
Because it is a dedicated trading platform, Coinbase Pro caters to an entirely different audience than the normal Coinbase website. In layman’s words, this implies you’ll be buying and selling cryptocurrencies on a short-term basis in order to make tiny but regular profits.
Coinbase Pro offers a completely updated design with state-of-the-art trading options, tools, and indicators. In contrast, the original broker platform has a slick but basic layout that caters to beginners. In addition, users can trade crypto assets against three fiat currencies and have access to a bigger number of trading pairings.
At Pro, you’ll have access to a lot more information. For example, you’ll have a pricing chart that shows real-time movements.
Coinbase Learning Center
It offers multiple educational resources for beginners. You can learn through articles mentioned on the Coinbase website, tips and tutorials, market updates, and crypto basics. In addition, you can tap into the crypto market by learning new strategies and becoming an expert crypto trader through Coinbase.
Coinbase Customer Support
The digital currency trading platform offers customer support in multiple countries. In addition, customers can contact by email, and there is also a Knowledge Base and FAQs page available for them.
Customer service wait times may vary, with the recent surge in demand for the service causing some delays.
The contact details of Broker are
US/Intl: +1 (888) 908-7930
UK: +44 808 168 4635
Ireland: +353 1800 200 355
Bottom Line
Coinbase is the largest cryptocurrency exchange founded in 2012. You can get familiar with advanced tools on the trading platform. It offers all significant cryptocurrencies. But you have limited options of altcoins. As a professional crypto trader, you may realize that it cannot fulfill your needs in terms of altcoins. However, you can take your trading game to the next level using Coinbase Wallet and Coinbase Pro.
One broker that is elevating its stature through innovation in the world of trading is Investby. It has changed the course of investment in the volatile market for investors and traders. The brokerage firm exceptionally offers full support to every trader. The broker brings breakthroughs by providing a top-notch trading environment to all subscribers. In any circumstance, a client can achieve extra miles from all financial perspectives.
