Last updated on June 19th, 2023 at 08:13 am
In this article, we will be giving an in-house review of the crypto exchange giant. Coinbase is an American publicly traded cryptocurrency exchange company. It is known as the most established crypto exchange in the United States and also one of the biggest in the world.
It is popularly known that Coinbase is one of the most beginner-friendly exchange platforms out there and we will be giving an in-depth review on this.
Coinbase makes buying Bitcoin, Ethereum, and other cryptocurrencies as easy as buying stocks from an online brokerage. The company does not have a physical headquarters as all its employees work remotely.
In 2012, Coinbase was founded by Brian Armstrong, a former Airbnb engineer, and was later joined by Co-founder Fred Ehrsam, a former Goldman Sachs trader. It was also said that Ben Reeves (a British Programmer) was supposed to be a member of the founders, but eventually parted ways with Brian in disagreement on how the Coinbase wallet should function.
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Relevant: Open a Coinbase account HERE
Coinbase trades more than 150 cryptocurrencies on its platform, offers more than 450 crypto-to-crypto trading pairs and is available in over 100 countries. The company reportedly has over 98 million users and $256 billion in assets on the platform.
The platform offers simplicity and the website and app is easy to navigate, no wonder it’s a favorite for crypto newbies. Meanwhile, there is the Coinbase Pro platform for more advanced users.
Here are some outstanding features of the Coinbase platform:
- Coinbase mobile application where users can buy and store different cryptocurrencies
- An NFT marketplace where users and NFT collectors can trade their pieces with one another
- Coinbase Pro platform for professional and more advanced trading
- A Coinbase wallet app that helps users to access dapps making use of a dapp browser.
- Coinbase debit Visa card that allows customers to spend their cryptocurrency
- Coinbase Prime is a trading platform for institutional customers.
- 24/7 chat support
- Strong Asset Security
- Advanced cryptocurrency encryption
Here is a list of some of the top cryptocurrencies available on Coinbase
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Cardano (ADA)
- Polkadot (DOT)
- Uniswap (UNI)
- Shiba Inu (SHIB)
- DAI (DAI)
- Sushiswap (SUSHI)
- USD Coin (USDC)
- Algorand (ALGO)
Related: Binance Review For 2022
Coinbase is available on Android and iOS platforms and also on the web. It is easy to use by anyone who has basic computer skills. As already stated above, Coinbase trades on two different platforms such as Coinbase and Coinbase Pro.
Fees
Before completing a trade on Coinbase, as well as on other platforms, a transaction fee is paid. Your cost will be shown on the trade screen when you enter a trade. Some of the fees expected from the platform include:
- A trade size of $10 or less requires a fee of $0.99
- $10 to $25 requires a fee of $1.49
- $25 to $50 requires you to pay a fee of about $1.99
- $50 to $200 requires a trading fee of $2.99
- Any trade above $200 requires a certain percentage-based fee and not a flat fee.
Customer support options
Even though they don’t have a physical headquarter, Coinbase has made it possible for its users to reach them and request support 24/7 through live phone support, chat, and also via email.
Coinbase Earn
This is an educational platform offered by the platform and it enables users to earn while learning about cryptocurrencies by performing some tasks such as watching video classes and taking exams.
Pros
- Easy to use for beginners: Our review shows that this is one of the reasons why Coinbase remains one of the most used platforms. Newbies are met with an easy-to-navigate platform for trading their cryptocurrencies.
- Market updates with push notifications: Up-to-date market news and updates are sent to its users which helps to keep you informed about the latest happenings in the crypto space.
- A Large number of cryptocurrencies: As already stated above, Coinbase offers a wide range of about 150 cryptocurrencies to trade and more than 450 crypto-to-crypto trading pairs.
- Coinbase Pro lower pricing structure: This platform offers a more advanced trading environment and even lower fees.
Cons
- Problems with customer service: Users have given Coinbase a low rating for customer service.
- High transaction Fees: In as much as the Pro platform offers reduced fees, the primary Coinbase platform transaction fees are often expensive.
- Missing Altcoins: Even though the platform offers an array of cryptocurrencies, there is still a lot missing.
Who is Coinbase for?
If you are new to cryptocurrency, and you are looking to purchase your first coin, then Coinbase might be the right platform for you. If you reside in the United States and are either a newbie or an experienced trader, then you can use the primary platform or the Pro.
“Always remember that trading cryptocurrencies and making crypto decisions should always be done at your discretion. Cryptocurrency is a very volatile asset and you are always advised to do your research before jumping in.”
Conclusion
Coinbase is a top exchange and offers a very good platform for anyone to buy and sell cryptocurrencies. It offers a wide range of choices and it is particularly good for beginners who want a simplified platform to buy, sell or exchange crypto.
The major problem with Coinbase is the customer service and transaction fees. Coinbase overall is a very good platform for your crypto journey. if you can handle your account yourself and have no problem with the fees, then this might just be the best platform for you.
Disclaimer: We do not impose a choice or thoughts on you and do not intend to persuade you into using a particular exchange. The review done above is solely on the opinion of the author of this post and should not be taken as a recommendation. We advise that whatever you chose to do with this information above should be based on your research and convictions.
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