Coinbase Review 2023
The Coinbase crypto exchange, the focus of this Coinbase review, was launched in 2012 and has achieved excellent results over ten years.
It is now one of the most popular crypto exchanges and stands out for its superb reputation, wide range of services, and, most importantly, a secure environment for users.
Coinbase operates in more than 100 different countries, employs more than 3,400 people, and has more than USD 128 billion in assets on the platform.
More than USD 92 billion is traded here in one quarter of the year, which shows not only the high level of trust that users have in Coinbase but also the ability of the exchange itself to handle such a large volume of transactions.
Table of content
Table of content
Coinbase Pros & Cons
Coinbase has its own set of strengths and limitations. Here's an overview of both:
🟢 Security and Reputation: Coinbase has built a strong reputation for safety and trustworthiness. It is publicly listed on the US stock exchange, giving users confidence in the platform's legitimacy and security measures.
🟢 User-Friendly Interface: Coinbase offers a user-friendly interface, making it easy for beginners and experienced users to navigate the platform, trade cryptocurrencies, and access comprehensive information on digital assets.
🟢 Wide Range of Supported Cryptocurrencies: Coinbase supports various cryptocurrencies, including popular options and lesser-known tokens.
❌ Fee Structure: Coinbase has a fee structure that can be confusing, and users may find it challenging to estimate transaction fees accurately.
❌ High Transaction Fees: The transaction fees on Coinbase can be relatively high, especially for smaller transactions.
⭐ What is Coinbase?
Coinbase is a leading cryptocurrency exchange with a stellar reputation for security and user-friendliness, enabling users to buy, sell, and trade various cryptocurrencies.
⭐ Is Coinbase legit?
✅ Yes, Coinbase is a legitimate and well-established cryptocurrency exchange platform publicly listed on the US Stock Exchange, providing users with transparency and assurance regarding its credibility and security measures. It is widely recognized and trusted in the cryptocurrency industry for its compliance with regulatory standards.
⭐ How Coinbase makes money?
Coinbase makes money primarily through trading fees, charging users a percentage of the transaction value when buying or selling cryptocurrencies. Additionally, Coinbase generates revenue from its subscription-based service, Coinbase Pro, and spreads on cryptocurrency prices.
⭐ Where is Coinbase located?
Coinbase's headquarters are in San Francisco, California.
⭐ When did Coinbase go public?
Coinbase went public on April 14, 2021. It conducted its initial public offering (IPO) on the Nasdaq Stock Market under the “COIN.”
⭐ Is the Coinbase Android app available?
✅ Yes, Coinbase has an Android app available on the Google Play Store. You can use the Coinbase Android app to access and manage your cryptocurrency accounts on your mobile device.
Coinbase User Interface
Coinbase has a well-designed website that is highly user-friendly and, most importantly, quick to navigate. Everything loads quickly, from registering to buying cryptocurrencies, is easy.
It is worth noting that the site is not cluttered with unnecessary information, which usually only slows down the loading speed. All data relating to governance or other issues can be found at the bottom of the site.
With a Coinbase account, new and experienced users will have no problem purchasing or transferring cryptocurrencies. By opening the trading section, you can see all the cryptocurrencies in one place, analyse their charts and compare different information.
Coinbase has several filtering models; for example, it is possible to filter out cryptocurrencies whose price has been falling or rising lately. There is also a search box where the name of a cryptocurrency can be entered, and it is immediately clear whether it is available on the Coinbase exchange.
When you open the selected cryptocurrency, you can see a description of the cryptocurrency, other related cryptocurrencies, the 24-hour price change, the all-time high price, and more.
There is plenty of information on each cryptocurrency, so Coinbase can be used as an exchange and an information source, allowing you to have all the most important information in one place. We also wrote an article on Binance and Coinbase comparison, which readers might be interested in.
There is no need to doubt about security and safe transactions. Coinbase is listed on the US stock exchange, and all performance reports are public. This ensures that the company does not commit fraud and can provide maximum transparency to its users.
In addition to all of the company's operational data being public, security is ensured in other respects. First, the website has an SSL certificate, which encrypts users' personal information and protects against data leaks.
Full registration is completed with identity verification, ensuring that Coinbase's services are not used with stolen human data – each user must undergo a verification process.
It is also important to note that Coinbase holds people's assets and does nothing with them. In other words, a consumer cryptocurrency is a consumer cryptocurrency.
Coinbase does not lend or do anything else with its cryptocurrencies without the users' consent. Various risk management programmes are offered to consumers to help protect their assets.
Protection is provided by two-step authentication. This may seem unnecessary and time-consuming for some users, but it contributes significantly to the safety of user accounts.
It is important to note that hackers can access not only your cryptocurrencies but also your data, which is far more valuable than the virtual assets in your account.
Also, Coinbase support is available at any time of the day or night to help you with a wide range of questions. If something is not working or you have a particular complaint or question, you can contact the customer support specialists, and the problem will be solved immediately.
Users should be careful when choosing a cryptocurrency exchange. To help with that, we created a cryptocurrency scams list.
Coinbase Supported Cryptocurrencies
Coinbase has hundreds of different cryptocurrencies on offer, so there's no doubt that you'll find more than just the most popular cryptos – Bitcoin, Ethereum, Tether, BNB, XRP, Solana, Cardano, Dogecoin, and many more.
The search box is handy in this case, where if you enter a cryptocurrency, you can immediately see if Coinbase trades it. You can also do this simply by opening the Coinbase website – no registration required.
As far as fees are concerned, payment is required here for all essential steps. When buying, selling, or converting cryptocurrencies, costs are calculated when the transaction is made.
The fee amount may depend on the transaction size, the jurisdiction you are in, and the payment method you use. You can see the fees before the transaction is confirmed – if you think the fees are too high, you may not be able to confirm the transaction.
|SIZE OF TRANSACTION||FEE|
|$10 or lower||$0.99|
Coinbase has its payment card – there are no fees for these transactions. The bank may charge an ATM fee if you want to withdraw money from an ATM. Depending on your chosen payment method, fees also apply to deposits and withdrawals.
Coinbase Mobile App
The Coinbase mobile app enables you to trade cryptocurrencies at any time and from any place. Nowadays, many people use smartphones, so it is unsurprising that this innovative company also focuses on mobile phones.
Before we talk about the app itself, it should also be mentioned that you can log in to your account using your mobile phone's browser, so there is no need to download a mobile app.
You can download the Coinbase mobile application on both iOS and Android platforms. The original Coinbase app and the dedicated Coinbase wallet are available for download, making it even easier to manage your virtual assets. The mobile application is as user-friendly as the desktop website.
Coinbase Learning resources
Coinbase is also commended for having a wealth of helpful information on a wide range of crypto-related topics on its website. It is a great place to learn, not only for newcomers but also for more experienced users.
Coinbase has a learning section that describes extensively what Bitcoin is, what cryptocurrency is, what blockchain is, etc. These articles also deserve praise, as everything is presented visually, with graphs and videos.
Undoubtedly, there is also a lot of information on using the platform. There is a detailed description of how to buy cryptocurrency, send crypto, etc.
Even experienced users may often have questions on specific topics, so there is no need to rush to Coinbase to find customer service contacts. However, take the time to look into the steps yourself, as everything is described in detail.
Coinbase has a newsletter where you can find information on various trends and the latest market news.
There are certainly people who come to the Coinbase website from other exchanges to read certain information, which only confirms that this exchange has a lot of quality content on its website.
It is also worth noting that Coinbase has a blog section where a wide range of information relating to cryptocurrencies and Coinbase's activities is constantly updated.
The Coinbase platform currently serves more than 100 countries worldwide. The only jurisdictions where the Coinbase crypto exchange cannot be used are sanctioned countries. Coinbase adheres to the OFAC sanctions list and does not work with countries on it..
|COINBASE BANNED COUNTRIES AND REGIONS|
Coinbase currently has more than ten languages on the site – English, German, Spanish, French, Italian, Turkish, Portuguese, Russian and others.
In a Coinbase review, it's evident that Coinbase is a highly reputable and user-friendly cryptocurrency exchange known for its security measures and wide range of supported digital assets.
However, when considering its use, users should be aware of potential drawbacks, such as transaction fees and some geographic limitations.
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