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If you’re looking to invest in crypto, you’ll need a cryptocurrency exchange (preferred) or an online broker that supports crypto to get started. With so many different crypto exchanges to choose from, however, selecting the perfect option for your needs isn’t always easy. That’s where Coinbase comes into the picture.
As one of the largest crypto exchanges in the world, Coinbase is a popular choice for new and experienced crypto investors alike. But is it truly the best exchange for you?
In this Coinbase review, we’ll do a deep dive into all of the exchange’s features, fees, pros, and cons. We’ll clue you into how it all works and provide you with insight into whether Coinbase is the exchange you need to start investing in crypto.
Bottom Line: Coinbase is the largest cryptocurrency exchange in the United States by trading volume. Coinbase is a fully regulated and licensed exchange operating in all states except Hawaii.
|Account and trading fees||
|Features and tools||
|Ease of use||
What Is Coinbase?
Coinbase is an online, remote-first cryptocurrency exchange. The company launched in 2012, and it has since set up operations in more than 100 countries, making it one of the world’s largest crypto exchanges.
As a crypto exchange, Coinbase allows anyone to quickly buy, sell, and convert cryptocurrencies with relative ease. Since its founding, the firm has also expanded its offerings to include an online crypto wallet as well as a professional-level crypto trading platform called Coinbase Pro.
How Does Coinbase Work?
Coinbase works similarly to other online brokerage platforms, but it focuses on digital tokens rather than stocks or ETFs. From Bitcoin and Ethereum to Solana and Dogecoin, Coinbase offers users access to hundreds of digital assets.
You can buy any of the tokens on Coinbase’s platform as you would on a traditional stock exchange. Most people choose to link their bank account after setting up a Coinbase profile, but you could also use a credit card, debit card, or PayPal to buy crypto.
Once you transfer money to Coinbase, you can use it to buy a token and add it to your account. You could transfer your crypto off of Coinbase into a private crypto wallet at any time.
Officially, Coinbase says you could buy as little as $2 worth of crypto. Just keep in mind that Coinbase charges a $0.99 fee on all crypto trades under $10 on its central platform. Therefore, you’ll really be spending $3 if you buy $2 worth of crypto. Also, if you’re transferring money via Fedwire or international transfers, Coinbase strongly recommends sending at least $50 to your account.
If you want to buy and sell cryptocurrency on Coinbase, you’ll need to create an account. But before you even do that, you’ll need to organize your documents and have a few pieces of information at the ready.
Coinbase is currently available to people aged 18 or over in more than 100 countries, including the US and Canada. To open an account, you’ll need the following:
- A government-issued photo ID (with your address and date of birth)
- Your Social Security Number (for US residents)
- A smartphone that can receive SMS text messages (for two-step authentication)
Opening an Account
As soon as you have your documents in order, you can create an account online or in the Coinbase mobile app.
The platform will first ask you to enter your personal information. You’ll then verify your email address and phone number for security purposes.
Next, you’ll verify your identity with Coinbase by uploading a photo of your photo ID (note that this step can take up to 48 hours). Finally, you’ll link a payment method to your account using Plaid, and then you can start trading crypto.
Cryptocurrencies Available on Coinbase
As with many aspects of Coinbase, figuring out which cryptocurrencies are supported by the platform is tricky.
Users in different countries have varying access to cryptocurrencies on the platform. Furthermore, account holders in some regions can’t trade certain currencies; rather, they can only send and receive funds.
With that in mind, Coinbase currently supports more than 50 currencies for US customers. Some of the major cryptocurrencies that you have access to on Coinbase include:
- Bitcoin (BTC)
- Ethereum (ETC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Stellar Lumens (XLM)
- Chainlink (LINK)
We should mention that while Coinbase does have an impressive list of supported cryptocurrencies, it does not currently support some popular currencies, such as Polkadot (DOT) and Binance Coin (BNB).
Coinbase is a feature-packed cryptocurrency exchange. In this section, we’ll take a look at some of the platform’s main features so you can determine if it’s right for you.
|Trading Fees||0.5% spread fee and a flat / variable fee (see fee section for details)|
|Number of Cryptocurrencies||56|
|Supported Cryptocurrencies||AAVE, ALGO, ATOM, BAL, BAND, BAT, BCH, BNT, BSV, BTC, CGLD, COMP, CVC, DAI, DASH, DOGE, DNT, EOS, ETC, ETH, FIL, GRT, GNT, KNC, LINK, LOOM, LRC, LTC, MANA, MKR, NMR, NU, OMG, OXT, REN, REP, SNX, USDC, UMA, UNI, WBTC, XLM, XRP, XTZ, YFI, ZEC, ZRX|
|Supported Countries||100+ including USA, Canada and France|
|Maximum Daily Buying Limit||$25,000|
|Platform||Web-based and Mobile (iOS / Android)|
|Promotion||$5 worth of free BTC|
|Support||Phone and Email|
The flagship feature of Coinbase is its crypto trading platform. This platform is very similar to that of any online brokerage and Coinbase crafted its trading interface to be as user-friendly as possible.
To place trades on Coinbase, you’ll simply identify the crypto you want to buy or sell and your payment method. Then, you’ll enter the total amount of crypto you want to trade and press confirm.
If you purchase crypto with Coinbase, it will be held for you in a secure location until you choose to sell it. Alternatively, you can transfer your crypto to your Coinbase Wallet, or you can transfer it to any other hot or cold wallet that you might have. It’s as straightforward as that.
Coinbase’s standard trading platform is designed with simplicity in mind. But if you want advanced charting tools or order types, you’ll want to upgrade your account to Coinbase Pro.
Coinbase Pro is an advanced exchange where users can get access to powerful trading tools like real-time charting and the ability to place stop and limit orders.
The Coinbase Pro platform also has a different fee structure (more on that in a bit). This fee structure is generally more affordable than the regular Coinbase fee structure, but using Coinbase Pro can be complicated and overwhelming for new traders.
That being said, you can upgrade your Coinbase account to Coinbase Pro at any time for no fee. So, some folks decide to start with a regular Coinbase account and then upgrade to Pro after they gain more crypto trading experience.
When you trade crypto with Coinbase or Coinbase Pro, your crypto is held for you by the firm in offline wallets that are stored in secure locations around the globe. But if you want the ability to control your crypto and private keys, you’ll need a dedicated crypto wallet.
Thankfully, Coinbase offers a wallet for anyone to use called Coinbase Wallet. You’ll need to establish a Coinbase Wallet separately and then link it to your trading account with Coinbase to place trades.
Coinbase Wallet is free to use, and you can also transfer your funds to and from other wallets at any time. But you’ll be solely responsible for the management of your crypto if you choose to use it.
To help you learn more about crypto, Coinbase offers a rewards program called Coinbase Earn. With this program, you can watch short videos on different cryptocurrencies and earn free crypto for your efforts.
To earn your free crypto, you’ll need to watch videos and take quizzes to demonstrate your knowledge. For example, if you watch three minutes of informational videos on Celo (CGLD), you might earn about $3 worth of Celo for your time.
Once you complete the videos and answer the quiz questions correctly, your free crypto will then be deposited in your account for you to keep or trade.
While many crypto exchanges only allow you to buy and sell crypto, Coinbase also allows you to use it for daily purchases using a Coinbase Card.
The Coinbase Card is a Visa debit card that you can use for regular payments. You can decide which crypto to use for your purchases in the Coinbase Card app and then track your spending along the way. The card also offers extra rewards on certain purchases, which you can learn more about in the app.
If you’re interested in setting up automatic crypto investments, Coinbase allows you to establish “recurring buys.”
You can establish a recurring buy for nearly any cryptocurrency on the platform, allowing you to purchase a pre-set amount of crypto regularly. For example, you can set up a recurring purchase of $50 worth of Bitcoin every week to help you grow your balance over time.
Do note that setting up a recurring buy requires that you make a purchase at the time of set up. So, if you want to set up a recurring buy for $100 of Litecoin every month, Coinbase will process your first purchase immediately and schedule your next purchase for one month later.
Coinbase Mobile App
Although Coinbase is available on the web, many users access the platform through the mobile app.
There are different apps for each of the platform’s features, including Coinbase Pro, Coinbase Wallet, and Coinbase Card, and you’ll need to download each one individually if you want to use those features. But, all of the apps come highly rated on the Google Play Store and Apple App Store because they provide an intuitive way to buy and sell crypto.
Coinbase’s “Private Client” portal is a personalized trading and storage service for high net-worth investors, family businesses, and trusts. If you plan to store or trade large quantities of crypto, hiring a Coinbase Private Client specialist could help you safely manage your funds and develop an expert trading strategy.
Retail traders who prefer trading crypto futures contracts may be interested in Coinbase’s derivatives market. Anyone with a Coinbase account could now invest in Bitcoin or Ethereum futures contracts by logging into this portal. Coinbase also offers access to futures for oil prices, Big Tech stocks, and the Bloomberg Large Cap Stock Index.
Coinbase now offers a Bitcoin-backed lending service in select US states. Currently, you can deposit your Bitcoin as collateral and borrow up to 40% of the value of your BTC. After depositing your Bitcoin, Coinbase will send USD to your linked bank account or PayPal. Coinbase promises to store your BTC in secure cold storage devices.
Just remember that using Bitcoin as collateral carries the risk of liquidation. If the value of Bitcoin goes below your margin threshold, Coinbase could take your crypto. You need to constantly monitor the value of your collateral and deposit more if BTC’s price continues to decrease. Also, please remember you will pay interest on your borrowed funds. Always check the current APR rates on Coinbase Borrow before deciding whether to take out a loan.
Coinbase One is a paid subscription program that gives users perks while trading on Coinbase. Most notably, Coinbase One members don’t have to pay crypto trading fees. Other features included in a Coinbase One account include a completed Form 8949 during tax season, $1 million in account protection, and 24/7 priority access to Coinbase’s call center.
Currently, Coinbase One is only available to US residents. Americans can test Coinbase One for free for one month before deciding whether to pay for this service. Currently, Coinbase One costs $30 per month.
Coinbase Advanced Trade
Coinbase Advanced Trade is an upgraded version of the Coinbase Pro platform. Crypto traders can expect the same order types (i.e., market, limit, and stop limit) and Pro fee structure when using Advanced Trade. However, Coinbase Advanced Trade allows users to put crypto to work in DeFi staking pools. Coinbase Advanced Trade also has more technical analysis features thanks to an integration with TradingView.
Although Coinbase Advanced Trade doesn’t have API integration, Coinabse claims it will roll out this feature in 2022.
As of April 2022, Coinbase operates an NFT market that offers hundreds of unique digital collectibles. While Coinbase NFT has yet to eclipse major NFT markets like OpenSea and Rarible, it continues to host many prominent NFT drops on various blockchains. For instance, Bill Murray, Dreamworks’ Trolls, and the New York Nicks recently dropped official NFTs on Coinbase NFT.
If you’re interested in art, celebrity, or animated NFTs, it may be worth checking out what Coinbase NFT offers. Also, please keep in mind that Coinbase NFT partnered with Mastercard to make it easy to pay with fiat.
Coinbase Direct Deposit
Instead of sending your paychecks to a bank account, you could opt to link direct deposits to your Coinbase profile. Only available to US residents, this new feature allows you to send fee-free direct deposits into Coinbase. You could opt to keep these direct deposits in USD or instantly convert them into your favorite cryptocurrency.
Coinbase USDC Rewards
Along with the fintech company Circle, Coinbase created the USDC stablecoin in 2018. Although USDC has yet to eclipse Tether’s USDT, it remains one of the top USD-pegged stablecoins.
Since Coinbase helped develop USDC, it’s easy to buy, sell, or transfer this stablecoin using any of Coinbase’s services. Also, Coinbase has a “USDC Rewards” program for US residents. To incentivize people to hold USDC rather than USD, American users could earn interest on any USDC in their account.
Coinbase claims if you have at least $1 worth of USDC in your account for at least five business days, you will receive USDC rewards. The interest rate you’ll receive is always in flux, but it’s currently around 0.15 percent APY.
Coinbase Pricing & Fees
If there’s one aspect of Coinbase that doesn’t quite impress, it’s the company’s complex fee structure.
Since Coinbase’s pricing structure depends on your region, we’ll focus specifically on costs for US account holders. However, the fees you’ll pay depend on if you’re using Coinbase or Coinbase Pro. Here’s what you need to know.
Coinbase’s standard platform charges two fees per transaction, the first of which is a spread fee of about 0.50% of the order total.
The second fee is the greater of either a flat-fee transaction charge or a variable fee. The variable fee for US accounts is between 1.49% and 3.99% of the transaction total, based on your payment method.
Meanwhile, the flat-fee charge varies from $0.99 to $2.99 per order. In particular, you’ll pay the following fees for different transaction amounts:
|Total Trade Amount||Fee|
|Less than $10||$0.99|
|$10 - 25||$1.49|
|$25 - $50||$1.99|
|$50 - $200||$2.99|
Since even the lowest variable fee of 1.49% works out to more than the flat fee for transactions valued at more than $200, any transactions worth more than this will be charged the variable fee.
In addition to trading fees, Coinbase charges a 2.5% fee for PayPal deposits and a $10 fee for incoming wire transfers. However, ACH transfers are free, and there is no cost to open an account. Here are some fees that apply in the United States:
|Coinbase USD Wallet||1.49%|
|Wire Transfer||$10 ($25 outgoing)|
Coinbase Pro Fees
With Coinbase Pro, the firm uses what’s called a “maker-taker” fee structure. In this structure, a maker is someone that buys or sells crypto in an order that isn’t carried out immediately, such as through a limit order. Meanwhile, people who buy or sell crypto instantly, such as through a market order, are called takers. In general, takers pay higher fees than makers.
Coinbase Pro’s maker-taker fee structure charges different fees based on your account balance before the order is placed.
The total taker fees vary from 0.50% to 0.04% of the order value, with lower balance accounts paying more. Meanwhile, maker fees vary from 0.50% to 0.00% of the order value, with balances over $50 million paying nothing in fees.
|Pricing Tier||Taker Fee||Maker Fee|
|Less than $10K||0.50%||0.50%|
|$10K - $50K||0.35%||0.35%|
|$50K - $100K||0.25%||0.15%|
|$100K - $1M||0.20%||0.10%|
|$1M - $10M||0.18%||0.08%|
|$10M - $50M||0.15%||0.05%|
|$50M - $100M||0.10%||0.00%|
|$100M - $300M||0.07%||0.00%|
|$300M - $500M||0.06%||0.00%|
|$500M - $1B||0.05%||0.00%|
Coinbase Security & Insurance
For many cryptocurrency investors, security is a chief concern. Luckily, reputable exchanges, like Coinbase, take steps to protect your crypto. So, here’s an overview of the firm’s security and insurance practices that you should know about before you invest:
Coinbase stores approximately 98% of its customer’s funds offline in safe deposit boxes and secure vaults around the world. This helps lower the risk of online hacking and physical theft by removing funds from the internet and storing them in a variety of geographic locations.
Coinbase also uses drives with AES-256 encryption, paper backups, and two-step verification to help prevent fraud. We should note, however, that Coinbase maintains control of your private keys unless you transfer your funds out of the platform and into your personal crypto wallet.
If you are a US customer with a cash balance stored in your Coinbase account, then it is FDIC-insured up to $250,000 per individual if the firm fails.
For non-US customers, cash funds are maintained in custodial accounts that are held separately from all other accounts for safekeeping, though they are not all FDIC-insured. Regardless, Coinbase also maintains its private insurance to cover the loss of any customer funds in the event of a security breach.
Coinbase Customer Support
As far as customer support goes, Coinbase has a detailed online help platform where you can get answers to many common questions. The online help platform also has a chatbot that can help direct you to answers to common questions in a matter of seconds.
If you need more personalized guidance, Coinbase also has an email-based customer support service that all account holders can access and a phone line for Coinbase Card issues. However, Coinbase does not currently have a customer support phone line that you can contact for general questions or concerns.
We should mention, though, that you can call Coinbase directly to immediately lock your account if you think that it has been compromised. So, while the company’s lack of phone-based customer support isn’t ideal for some account holders, you can get quick help in a security-related emergency.
Coinbase Ease of Use
A big reason behind Coinbase’s success is its accessibility. People who use Coinbase’s standard trading portal or mobile app typically don’t have issues navigating these screens. In fact, there are over 1.4 million mostly positive reviews for the Coinbase app on Apple’s App Store. The Coinbase app also has a 4.1-star rating with over 700,000 reviews on Google Play.
The Coinbase Wallet is also one of the crypto industry’s most user-friendly self-custodial wallets. There are many positive ratings for this service on the App Store and Google Play.
However, if you read through the reviews for Coinbase on the Better Business Bureau (BBB) or Trustpilot, you may think you’ve stumbled across a totally different company. The rankings for Coinbase on these sites are in the 1 – 2 star range. However, most of the complaints on these pages focus on Coinbase’s lackluster customer service and specific issues with transfers or account verification.
Coinbase has long struggled with its customer service, and it has suffered hacks in the past. While Coinbase addresses many of the negative reviews in its BBB and Trustpilot pages, it’s worth keeping these issues in mind if you’re considering setting up an account.
Coinbase Pros Explained
- Available to residents of more than 100 countries: While Coinbase isn’t available everywhere, it’s getting easier for people around the world to join this exchange. In fact, Coinbase now offers crypto trading features in over 100 nations. No matter where you live, there’s a high probability Coinbase operates in your territory.
- Great selection of crypto available: Coinbase may not have as many speculative low-cap altcoins versus exchanges like Binance or KuCoin, but it has a wide assortment of cryptocurrencies. Compared with US-based exchanges like Gemini and Kraken, Coinbase still has a more diverse list of digital coins and tokens.
- Options to earn rewards & free crypto: Coinbase offers a few ways customers could earn passive income on their holdings. First, you could watch Coinbase’s “Learn” videos to get a few altcoins. Second, Coinbase offers interest for Americans who hold USDC in their accounts. Thirdly, you could stake many DeFi tokens directly on Coinbase to earn staking rewards.
- Includes access to a free online wallet: Customers could keep their crypto on Coinbase’s custodial hot wallet or transfer their crypto into the non-custodial Coinbase Wallet. Both of these crypto wallets are highly respected in the industry for their advanced security features. Even if you leave your crypto in Coinbase’s hands, you will enjoy insurance protections and industry-leading custodial services.
- Ability to upgrade to Coinbase Pro for free: You don’t need to create a different account to take advantage of Coinbase’s advanced trading features. Anyone with a standard Coinbase account could access the many tools and lower fees on Coinbase Pro and Coinbase Advanced Trade.
- Easy-to-use interface for new traders: If you stick with Coinbase’s standard trading portal or mobile app, you shouldn’t have difficulty executing market orders. The Coinbase team made it very easy to deposit funds and buy, sell, or transfer dozens of cryptocurrencies.
- Great access to educational resources: The Coinbase Learn portal has easy-to-read articles explaining complex crypto topics like staking, liquidity pools, and DeFi. Coinbase also has a user-friendly FAQ page where you can search for answers on using Coinbase’s services.
- Offers a Visa debit card for making purchases with crypto: If you’d like to earn rewards in your Coinbase account, you may want to consider ordering the company’s bright blue debit card. Not only will you get crypto-back rewards, but you will also enjoy priority access to Coinbase’s helpline.
Coinbase Cons Explained
- Pricing and fee structure is very complicated: Coinbase has a difficult-to-understand fee structure, especially for its standard trading portal. In addition to flat fees, you’ll need to pay extra depending on how much crypto you buy on the platform. There are also different fees associated with payment methods like credit cards or PayPal.
- Photo ID verification required for account set-up: Coinbase takes compliance seriously; thus, you will have to supply a lot of KYC information. If you don’t feel comfortable handing over personal data like your driver’s license, home address, and social security number, then you probably won’t feel comfortable setting up a Coinbase account.
- High costs for crypto trading, especially for smaller transactions: The biggest complaint most people have with Coinbase is that their fees are high. Compared with exchanges like Binance, FTX, and KuCoin, Coinbase is one of the pricier centralized exchanges, especially if you want to make frequent low-volume transactions.
- Limited control over your private keys with the platform: If you don’t send your crypto off of Coinbase to a non-custodial wallet, Coinbase technically owns your tokens. If Coinbase were to go bankrupt or get hacked, then you could potentially lose your crypto.
- Not all crypto assets are available for trading in all countries: To remain compliant, Coinbase often restricts access to certain digital tokens in some areas. Also, Coinbase still isn’t allowed in some regions like Hawaii. Always double-check the tokens you want are available for trading on Coinbase in your home country.
- Limited customer service options: If you don’t have a Coinbase Card or a Coinbase One account, you won’t have priority access to Coinbase’s call center. Many customers who don’t enjoy these bonuses complain about Coinbase’s slow response time via live chat, email, or phone.
Not sure that Coinbase is the right crypto exchange for you? Here are two Coinbase alternatives to consider before you sign up for an account:
Coinbase vs. Kraken
Alongside Coinbase, Kraken is one of the best-known crypto exchanges on the market today. However, unlike Coinbase, it’s more targeted toward advanced traders that want to take advantage of a wider range of trading tools and features.
With Kraken, traders get access to a slew of trading features, like advanced charting tools. The platform also supports a slightly larger list of cryptocurrencies than Coinbase, though you can find the most popular crypto, like Bitcoin and Litecoin, on both platforms.
What sets Kraken apart from Coinbase for advanced traders, however, is that it supports margin trading. While margin trading on crypto isn’t for everyone, it might be a nice choice for some investors.
Plus, Kraken has substantially lower fees than Coinbase and slightly lower fees than Coinbase Pro. So, while it’s not great for new crypto traders, its enhanced functionality is nice for more experienced investors. Read our full Kraken review to learn more.
Coinbase vs. Gemini
Founded by the Winklevoss twins of Facebook fame, Gemini is a relatively new exchange that’s become popular among traders that want a simplified way to buy and sell crypto.
Account holders with Gemini have access to both a simplified exchange and a more sophisticated platform that offers advanced charting tools. Gemini also makes it easy for account holders to earn interest on their crypto assets, and they now offer a credit card that lets you earn crypto rewards.
Like Coinbase, Gemini’s fee structure is complex and somewhat difficult to understand. However, Gemini’s fees are fairly comparable to Coinbase, so neither exchange has a true edge in that regard.
What’s more, Gemini also offers hot and cold crypto wallets for account holders to choose from, both of which come with optional insurance and improved customer support. So, Gemini is a solid option for crypto traders that want many of Coinbases’ features but with a bit more functionality in terms of security. Read our full Gemini review to learn more.
|Trading Fees||Up to 0.50%||Up to 0.26%||Up to 1.49%|
|Apps||Mobile (iOS and Android)||Mobile (iOS and Android)||Mobile (iOS and Android)|
|Promotions||$5 worth of free BTC||None||Get $10 worth of BTC (*after buying or selling $100)|
Find out how Coinbase stacks up against the competition.
- Coinbase vs. Kraken
- Coinbase vs. Gemini
- Coinbase vs. Binance
- Coinbase vs. Crypto.com
- Coinbase vs. Uphold
- Coinbase vs. BlockFi
- Coinbase vs. eToro
- Coinbase vs. Voyager
Who is Coinbase Best For?
Due to its ease of use, Coinbase is an ideal crypto exchange for new cryptocurrency investors or anyone that prizes simplicity in their financial life. Furthermore, Coinbase’s plethora of features, including dozens of supported cryptocurrencies, access to a Visa debit card, high-tech security, and the ability to earn free crypto, set it apart from other exchanges.
Plus, the fact that the company also makes it easy for you to upgrade to a sophisticated crypto exchange platform (Coinbase Pro), also means it’s a nice choice for people who want to become more active crypto investors.
That being said, Coinbase’s high fees and complex pricing structure aren’t great for folks that want to keep expenses to a minimum. But if you want a crypto exchange that’s easy to use and that offers a decent array of features for advanced traders, then Coinbase just might be what you’re looking for.
Notable Coinbase Updates And News
- Coinbase One: In 2022, Coinbase released a monthly subscription plan called Coinbase One to select US residents. Anyone who purchases a Coinbase One account will enjoy $0 crypto trading fees, priority access to Coinbase’s phone support, and free tax forms each year. Currently, Coinbase One costs $30 per month, and it’s available for a free trial in select US states.
- Coinbase Wallet Mobile SDK: Also in 2022, Coinbase announced a mobile software development kit (SDK). This open-source product should help developers integrate their mobile apps with blockchain innovations. Coinbase also says its Mobile SDK service seamlessly connects with the non-custodial Coinbase Wallet, making it easier for developers to test their apps in Web3.
- Coinbase Advanced Trade: To better serve professional crypto traders, Coinbase created an Advanced Trade feature that expands on the Coinbase Pro platform. While Coinbase Advanced Trade has the same fee structure as Coinbase Pro, it introduces many bonus features like native DeFi staking and technical analytics powered by TradingView.
- Coinbase NFT: Similar to competing exchanges like Binance and Crypto.com, Coinbase now has an NFT market. Most of the tokens in Coinbase’s NFT market are on the Ethereum blockchain, but you don’t have to pay in crypto for the NFTs on Coinbase’s portal. Indeed, Mastercard openly partnered with Coinbase to help people trade NFTs with their credit cards.
Here are our answers to some of your most commonly asked questions about Coinbase:
Although there is an inherent financial risk to trading cryptocurrency, Coinbase is known as one of the most secure exchanges and online wallets in the industry. The company’s security systems are top-notch, and they keep the vast majority of customer funds in offline storage to prevent hackers from accessing your crypto.
Coinbase is a good exchange to buy Bitcoin if you’re looking for a quick and simple place to purchase crypto. However, the company does charge some hefty fees for smaller purchases, so this is something to consider before you sign up for an account.
Like most fintech companies, Coinbase does gather a decent amount of personal information, including scans of your photo ID, which is a privacy concern for some traders. However, much of this information is required by government authorities and Coinbase does state that they do not sell your identifiable data without your consent.
In A Nutshell
In the world of crypto exchanges, Coinbase is an industry leader. The platform’s sleek interface, user-friendly features, and ample educational tools make it a popular choice for new crypto investors, while Coinbase Pro is also a nice option for advanced traders.
Of course, Coinbase’s fee structure is a bit complex, and their customer support options are limited, so that’s something to keep in mind when selecting a crypto exchange. But if convenience is your top priority, Coinbase is one crypto exchange that’s hard to beat.
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Gaby is a freelance writer and self-employed business owner with a personal interest in all things finance-related. She has a passion for educating others on how to make the most of their money and loves writing about everything from taxes to crypto.