Coinbase is the largest cryptocurrency exchange with more than 50 cryptos to trade and 68 million people and businesses. Thinking about adding crypto to diversify your investment portfolio?
What is Coinbase?
Coinbase, founded in 2012 in San Francisco, is building the crypto-economy and providing an easy-to-use and advanced trading platform and digital wallet. It’s ranked high among other cryptocurrency exchanges.
Coinbase is the first US crypto company listed on a US stock exchange. The company offers a crypto brokerage and a crypto payments platform for businesses, custodial services for cryptocurrency storage for institutions, and USD Coin, a stable coin linked to the US dollar.
What is Cryptocurrency?
Cryptocurrency is a digital currency that uses cryptography for security. Bitcoin was the first cryptocurrency, and it has become popular due to its decentralized nature.
How does Coinbase work?
Through the platform, you can:
- Buy, sell and manage hundreds of cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
- Use cold storage to store your crypto
- Earn crypto rewards with a debit card
- Explore decentralized finance (DeFi), buy and sell NFTs, and more.
It’s vital to understand crypto trading involves a substantial risk of loss. It’s not suitable for every investor. With cryptocurrencies, the value fluctuates with volatility. As a result, users may lose all of their original investments.
Coinbase offers two-factor (2F) authentication, Federal Deposit Insurance Corporation (FDIC) insurance on USD balances, and insurance against damage or theft. Coinbase keeps 98% of currencies in cold storage.
Any cash balances of fiat currency are held in custodial accounts, money market funds, and US Treasurys.
Features & Benefits
Coinbase is a crypto platform allowing you to diversify your investments to grow wealth.
Coinbase and Coinbase Pro
Choose which platform serves your needs. With Pro, you get advanced charting and allows for crypto-to-crypto transactions, along with the market, limit, and stop orders.
- Cryptocurrencies: Trade 56 crypto assets and 59 on the Pro platform.
- Crypto-to-crypto trading: Offers more than 60 crypto-to-crypto trading pairs.
- Earn crypto: Learn about alternative digital assets and earn crypto.
- Storage: store your crypto assets in cold storage.
- Mobile app: Access with iOS and Android
- Be at least 18 years old.
- Government-issued photo ID.
- Computer and smartphone connected to the internet.
- Phone number connected to your smartphone.
There are no fees to create or maintain an account. But other fees apply like trading fees. The fee structure is dependent on whether you choose between Coinbase and Coinbase Pro.
- Transaction fee: Starts at $0.99 for trades less than $10.
- Payment type fees: varies based on payment method.
- Transaction fee: Based on your monthly trading volume and liquidity of the asset at the time of purchase.
Who is it best for?
Coinbase is best for anyone interested in trading a wide selection of cryptocurrencies. For traders who want advanced tools, Coinbase Pro may suit your needs.
Coinbase is a legit company and not a scam.
In our Coinbase review, we learned it’s a top-notch crypto exchange for all levels. Firstly, you can trade cryptocurrencies with a simple and user-friendly platform. Secondly, the research tools can help you make better trades. Thirdly, the company offers ways to earn crypto by simply learning more about cryptocurrencies. Finally, you have the option to upgrade to Pro.
- Over 50 cryptocurrencies
- Low minimum to fund account
- Educational resources
- Higher fees compared to other exchanges
Customer service is available via email, 24/7 chat, or phone for emergency support.
How to Start a Coinbase Account
The time needed: 3 minutes.
Step-by-step to open an account
- Get started
- Create an account by clicking on the link here.
- Follow the instructions
- Verify your phone number and email.
- Submit your application
- Complete the ID verification process.
- Link payment method
- Choose a form of payment such as bank account, debit card, or wire transfer. Credit cards are currently not accepted.