The global Coinbase for crypto investors market plays host to millions of crypto traders and investors that are on the lookout for potential coins they can include in their crypto portfolio to fetch them a decent return on their investments.
The market is highly dynamic and volatile; as such, you need to tread carefully in order not to lose your hard-earned money to market forces. With hundreds of cryptocurrency exchange on the market, it can become confusing and overwhelming.
For a beginner to choose a crypto exchange to start his or her cryptocurrency trading journey with, and that is why we have reviewed Coinbase, the world’s leading cryptocurrency exchange, for you to decide whether or not this exchange is suitable for your trading style, budget, and market outlook.
Coinbase is a leading cryptocurrency exchange that so many investors and traders prefer to work with due to their exciting features, user-friendly interface, functionality, and low trading fees. In this review, we will take a look at Coinbase fees, supported payment, security, as well as customer support services. Without further ado let’s get started
What is Coinbase?
Like we mentioned in the introduction, Coinbase is a leading cryptocurrency exchange where you can trade or invest in over 100 digital assets, including cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Binance Coin (BNB). Coinbase boasts of over 98 million users from across the world and has raked in over $256 billion since its inception.
Founded in 2012, Coinbase is an exchange where you can instantly send and receive different cryptocurrencies. This exchange operates in more than 100 countries and partners with over 13,000 online and offline financial institutions.
They have a stand-alone crypto wallet service in addition to two separate trading platforms, where you can access to trade or invest in over 100 cryptocurrencies. So whether you are a beginner or a professional crypto trader, Coinbase has everything you need to equip yourself, so that you can earn a profit from your investing strategies.
Cryptocurrencies Available on Coinbase
Coinbase supports a long list of cryptocurrencies. The platform also regularly updates the list of cryptocurrencies with new tokens that can change the narrative in your investment portfolio.
We cannot list all the cryptocurrencies supported by Coinbase, but here are a few of them: Bitcoin (BTC), Ethereum (ETH), DAI (DAI), SushiSwap (SUSHI), Dogecoin (DOGE), Uniswap (UNI), Stellar Lumens (XLM), Polygon (MATIC), USD Coin (USDC), among others.
Aside from these ones that we have listed above, you can visit the official Coinbase website to take a look at the over 100 cryptocurrencies that the exchange supports.
Security is a serious issue as far as the cryptocurrency market is concerned. If you do not place a priority on the issue of security, your crypto wallet can be hacked by fraudsters or internet hackers. Coinbase understands what security means to the average trader or investor, and that’s why it has put in place different measures to safeguard depositor’s funds.
Coinbase uses advanced encryption methods to prevent internet hackers from penetrating or having access to two users’ wallets. They also integrate the popular two-factor authentication (2FA) into their security measures, so that whenever a third-party attempts to access your account or even transfer cryptocurrency from your wallet, the system will request for a six-digit pin, otherwise the transaction will not be completed.
Additionally, Coinbase will alert you by email and through your mobile phone whenever there is unauthorized access to your Coinbase account. The exchange is able to achieve this milestone because it parades knowledgeable and experienced blockchain.
Experts who have a proven track record of successfully delivering on crypto-related projects. So, as a user with a Coinbase account, and with funds in your wallet, you can be rest assured that your deposit and earnings are secure on the Coinbase trading platform.
Opening a Coinbase Account
To open an account on Coinbase, visit the Coinbase site using your preferred browser and follow the instructions. Keep in mind that you will be required to submit a few personal information before your application will be approved.
Coinbase parades a dedicated and responsive customer service team. They work round the clock to resolve any complaint or challenge that a user might be facing. Some of the official channels that you can get across to the customer support desk, include live chat, email support tickets, as well as a phone-in system.
So, if you have a challenge while using your Coinbase account to trade cryptocurrencies, you can leverage any of the communication channels. So you’ll reach out to the customer support desk for prompt resolution.
Coinbase has a mobile app that you can download on your smartphone to keep track of your crypto holdings on the go. The app is both Apple and Android supported; meaning, you can download it on your Apple or Android smartphones without encountering any challenge.
From the app, you can manage your crypto holdings. Also send coins to your friends or family members, and also receive tokens from any cryptocurrency business that you are involved in. In fact, the Coinbase app is equipped with all the tools and features that you need to succeed as a cryptocurrency trader.
Coinbase charges a fee for every transaction that you carry out on the exchange. The fee depends on your trade size. Some of the fees payable by traders, include: $10 or less: the fee is $0.99, $10 to $25: the fee is $1.49, $25 to $50: the fee is $1.99, $50 to $200: the fee is $2.99.
Pros and Cons
Coinbase has a user-friendly dashboard and supports a long list of cryptocurrencies; The trading fees are a bit decent compared to other exchanges; It supports a wide range of trading tools and countries; Coinbase gives you an opportunity to earn passive income. And we can say the cons are thant there are not many altcoins listed on Coinbase and the payment methods are limited.
Coinbase is a leading cryptocurrency exchange that you should consider if you’re looking to begin your crypto trading journey. It supports over 100 tokens and regularly updates the token list with new additions.