Are you planning to try your luck in the world of crypto? Are you new to this fast-moving technology of digital purchasing, selling, and trading of currencies?
However, you might be in doubt due to this increasing number of frauds and scams?
If yes, stop worrying because we are giving you the answer to the most critical question in your mind: Is Coinbase safe?
Buying, selling, and trading crypto have never been easy tasks. You have to work a lot before putting your money into this field.
Not only this, you are always in doubt due to the digitization of these currencies.
Therefore, we are providing you with a comprehensive guide on it, one of the leading crypto trading platforms in the international market.
|Trading Software||Coinbase platform|
Therefore, make sure that you stick to this article until the end because it will solve some of your most concerning questions regarding crypto.
What Is Coinbase?
It is one of the leading tradings and investing platforms of cryptocurrencies providing extraordinary and exceptional services to investors from all around the globe.
Established in 2012, you can purchase, sell or trade more than 100 cryptocurrencies on this platform, including top crypto of the international market.
It is operational in more than 100 countries and serves 73 million users, having more than assets of $255 billion on the platform.
It is one of the prioritized platforms of top investors worldwide with charging transactions and other fees.
Why Choose Coinbase?
So, you might be thinking that Coinbase is as same as other digital trading platforms available in the market. Why choose Coinbase rather than any other forum. So, here is the answer.
It is a perfect solution if you are new to the world of crypto. You don’t have to be a trading expert to try your luck in crypto with Coinbase.
The sorted UI UIX, easily manageable profiles, provided analytics and reports, and every other feature of Coinbase help you win your crypto game and become a millionaire rather than earning a few bucks every month by trading on other platforms.
How To Start With Coinbase?
For starting up with it, follow the below step-by-step guide:
- Visit the official website of Coinbase.
- Click on the “Get Started” option.
- Now, enter the required information and data accurately, that is, your legal name, email address, password, and state.
- Now, open your entered email address and verify your account through the verification email sent there.
- After verification, log in to your account using the credentials and password.
- After signing in, select your country and enter your phone number. Then, Click on the “Send code.”
- You will get a seven-digit code on your number. You have to enter that and continue.
- Then, add your personal information. Enter first name, last name, date of birth, and address.
- Answer the following questions:
- Why do you want to use Coinbase?
- What are your sources of funds?
- Your current occupation
- Your employer
- Last four digits of the SSN
- Lastly, please choose your payment method as they are different and depend upon the available procedures in your county.
And, now your account has been created on Coinbase. You can start the process of buying, selling, and trading crypto on the platform of Coinbase.
Price And Pricings Of Coinbase
The plans and prices of it are as follows:
- The Coinbase Wallet Services:
USD Coinbase wallet and Hosted Cryptocurrency wallet charges are entirely free of cost. Moreover, transferring your crypto from one wallet to another will cost nothing.
- Transaction Fees:
You have to pay transaction fees on every purchase, sell, or trade your crypto from your wallet.
This fee is calculated according to the market value, payment method, size of the order, and other factors.
- Transactions Of Credits:
If you take a USD loan from a Coinbase affiliate or Coinbase itself, you have to pay 2% of the total transaction as a loan agreement.
- Coinbase Card:
Use of USDC is completely free-of-cost and has no charges. However, if you choose the ATM to withdraw option, you have to pay $2.49 as a fee. Moreover, ATM operator charges are also payable.
Let’s have a look at the most common payment procedures here:
- Bank Account: 1.49%
- USD Wallet: 1.49%
- Debit/Credit Card: 3.99%
- ACH Transfer: Free
- Wire Transfer: $25 for outgoing and $10 for incoming
- Conversion Of Cryptos: $2
Features Of Coinbase
- Suitable For Beginners: It should be your choice if you are about to step into digital trading. It is pretty easy to manage and simple to understand. You don’t have to be a crypto expert to understand its works.
- Expensive As Compared To Market: The plans and pricing of Coinbase are a little costly compared with other digital trading platforms out there in the international market.
- Coinbase Pro And Affordable Transaction Fees: The premium version of Coinbase, named “Coinbase Pro,” offers its users little less-costly transaction fees on the purchase, sale, or trading of crypto in comparison to Coinbase.
- Variety Of Crypto Currencies: Although Bitcoin is the most famous and high-trading crypto in the international market and almost every platform is dealing with its trading, Coinbase offers more than 100 types of trade cryptocurrencies.
- The Long But Secure Procedure Of Registration: It has a simple yet long and secure registration process, unlike other digital trading platforms. It might take a few minutes longer, but the transactions’ system of Coinbase is entirely safe and is supported by two-way verification.
Services Available At Coinbase
- For Individuals:
- Purchase, sell, and trading of crypto
- Self-hosted e-wallet of crypto
- Learning and earning of crypto
- Earning crypto rewards by the spending of crypto
- The offering of USD crypto for stable pricing
- For Businesses:
- A platform for prime brokerage
- The facility of receiving crypto from anyone
- Access to the exchange
- Listing of the assets on this platform
- Analytics to observe the compliance of crypto
- Raising money for the crypto startup
Crypto Currencies Available At Coinbase
It offers its customers a variety of crypto. On its platform, you can buy, sell or trade more than 100 types of crypto, including the leading one.
Let’s see what leading crypto we can find here:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Dash (DASH)
- LiteCoin (LTC)
- Tether (USDT)
- USD Coin (USDC)
- Dogecoin (LTC)
What differentiates Coinbase from others?
Here are the features that differentiate Coinbase from others:
- It offers 100 tradable cryptocurrencies such as Ethereum, Bitcoin, Dogecoin, etc.
- It is an advanced trading platform
- You get education about cryptocurrencies trading
- You can send money easily while using the Coinbase application
- It will allow you to use a debit card while making trades
Our experience with Coinbase
My overall experience with Coinbase is positive, but sometimes it gets slow, and this thing irritates me.
Once it gets slow, I have to restart it so it would get its speed back. Sometimes it simply freezes whenever I try to use all features of this application.
So, my experience with this cryptocurrency trading app has been a mixture of good and bad experiences.
Lets’ compare Coinbase with other similar services.
Coinbase vs. Binance
You get charged 0.50% for any trade. It also gives you 3.99% if you purchase in Coinbase with credit cards.
Coinbase gives you 1.49% with banks and wallet purchases, but Binance would charge you 0.10% spot trading fees and 4.5% for debit card purchases.
Coinbase offers 2FA verification and AES-256 encryption for digital wallets security. Whereas on Binance is also 2FA verification security.
Coinbase vs Coinbase Pro
Using Coinbase is easy for beginners because you can start trading on this platform while using PayPal.
Coinbase Pro is not for beginners because it offers advanced features and crypto-to-crypto trading pairs.
Coinbase offers trading in 107 cryptocurrencies, but by using Coinbase Pro, you can do trading in more than 250 cryptocurrencies.
Coinsbase vs Robinhood
There is no fee if you do trading while using Robinhood, but you will have to pay just a flow fee that varies according to the trade you have made.
There is a 0.50% trading fee on every single trade you do on Coinbase.
The number of cryptocurrencies available on Robinhood is only 7, but you can do trading in 139 different cryptocurrencies while using Coinbase.
- From Adam S:
I have not had any issues with it at all. I have used all the services provided to deposit, withdraw, convert, send and receive cryptocurrencies. It is an excellent platform. If others were more readily available in the US, like by bit, I would probably use them, but this is fine for now!
- By Mateo G:
Coinbase is an exchange to buy and sell bitcoin, ethereum, and litecoin. Now, by all means, don’t spend your life savings on something you are not sure about. But if you want to get in on the crypto craze and buy $50 or $100 bucks of cryptocurrency, this is a straightforward app and website to get started. They are regulated, and your security is essential. I will use it again.
- By Andy C:
A bit lazy in completing orders and cash out but very helpful. All my purchases have been completed. Good luck.
So, this is the end. Let’s do a quick recap and wrap our thorough discussion. Firstly, we discussed the basic concept of Coinbase and then why we should choose it.
Then we discussed the plans and prices, features, services, crypto available, and customer reviews.
Frequently Asked Question
Is Coinbase Safe And Secure?
Coinbase is entirely safe and secure. Even at the time of registration, you will notice they take various steps to secure your account and personal information.
Does Coinbase Charges Transaction Fees?
You have to pay the transaction fees on buying, selling, and trading crypto. This fess depends upon various factors like the size of the order, the current price of the crypto, the situation of the market, and other critical factors.
What Type Of Crypto Are Available On Coinbase?
Coinbase offers more than 100 types of crypto to its investors, including the leading ones in the international market, like Bitcoin, Bitcoin Cash, Ethereum, Solana, Polka Dot, Cardano, and many others.
Are There Any Withdraw Fees Of ATM On Coinbase?
Yes, if you go for ATM withdrawal, you have to pay 3.99% of the total transaction charges on Coinbase. Moreover, you have to pay the additional ATM charges on withdrawal also.