Coinbase is a popular cryptocurrency exchange for buying, selling, and storing cryptocurrencies like Bitcoin and Ethereum. It’s one of the biggest and most trusted crypto exchanges in the U.S., serving 108 million users in over 100 countries. It offers over 240 coins for buying and selling with both Simple and Advanced Trade platforms. The best features of Coinbase are Coinbase Staking, Coinbase Pro (Advanced Trade), Coinbase Card, Coinbase Wallet, Coinbase One, and the Coinbase mobile app.
Coinbase is a safe and legitimate crypto exchange because it uses strong security measures, such as keeping 98% of funds in offline cold storage, insurance, and 2FA for accounts. It also has licenses from trusted regulators, such as the US New York State Department of Financial Services, the UK Financial Conduct Authority, and the Central Bank of Ireland in Europe.
In this Coinbase review, we will explain what Coinbase is, what Coinbase trading fees are, and what the best features of Coinbase are. We will also elaborate on how to open a new account to buy and sell crypto on Coinbase.
Coinbase Review: What Is It?
Coinbase is a reputation crypto exchange in the United States that lets you buy, sell, and store digital coins like Bitcoin and Ethereum. It was started by Brian Armstrong and Fred Ehrsam in 2012 and has evolved into the U.S.’s largest crypto exchange in terms of volume, and was listed on Nasdaq in 2021. The exchange is fully remote, with no actual headquarters, and is available in over 100 countries. This trading platform is currently serving 108 million Coinbase verified users worldwide.
The exchange has a simple platform for newcomers and an upgraded version named “Coinbase Advanced” for more experienced traders. The standard platform allows you to trade over 240 cryptocurrencies, including well-known names like Bitcoin, Ethereum, Solana, and Dogecoin. Coinbase Advanced has additional tools such as live charts and order types, including market, limit, and stop orders. Coinbase accepts deposits in the form of bank transfers, debit cards, PayPal, Apple Pay, and wire transfers.
Coinbase also includes a separate Defi wallet app, which is a non-custodial wallet where you hold your private keys and keep coins safe. It supports thousands of assets, including NFTs, and you can connect with decentralized finance apps. There’s even a Coinbase Card, a debit card that allows you to spend crypto like regular money in shops and online stores. You can also stake over 100 coins to earn rewards, although Coinbase takes a 25% commission on those returns.
PlatformCoinbase Global, Inc.Founded2012FoundersBrian Armstrong, Fred EhrsamHeadquartersNone (Remote-first)Trading VolumeLargest in U.S. (over $1B+ daily)FeaturesInstant crypto buy/sell, staking, futures trading, Coinbase Wallet, Coinbase Prime, Coinbase One, and Coinbase CardCryptocurrencies240+Trading Pairs500+Trading Fees (Simple Platform)0.99% – 2.99% per tradeTrading Fees (Advanced Trade Platform)0.4% maker – 0.6% takerPayment MethodsBank Transfer (ACH), Debit Card, Wire, PayPal, Apple Pay, Google Pay, and moreUS LicenseMSB License, New York State Dept. of Financial Services, VASP in Ireland, Financial Conduct Authority in UK
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How does Coinbase work?
Coinbase works as a trading platform where you can buy, sell, and store over 240 different cryptocurrencies. It’s really simple to use, particularly for a new crypto user. You need to begin by registering your name, email, and password on their site or the Coinbase app. Then, you need to link a payment source, such as a bank account or debit card, with which you deposit funds. Once your account is activated, you can purchase crypto by selecting an amount – such as $10 or $500 – and Coinbase will convert it to the coin of your choice.
Selling is the reverse of buying. You select how much crypto to sell, and Coinbase converts it into cash, then you can transfer to your bank. Coinbase also allows you to send crypto to other individuals or crypto wallets.
To protect the security of customers’ assets, Coinbase stores most of your cryptocurrencies securely in a digital wallet, with the majority held offline in “cold storage” to defend against hackers( over 98% of their assets are stored in the cold wallets).
What are the pros of Coinbase?
The pros of Coinbase are a user-friendly trading interface, 240+ supported coins, robust security measures, rewards for learning about crypto, and an advanced trading portal for experienced traders.
- User-friendly interface: The exchange has a simple interface that even new users can navigate – create an account, add a payment method, and purchase Bitcoin or Ethereum within a few minutes. Their app is equally intuitive, with all functions accessible.
- Multiple cryptocurrencies: You can access over 240 cryptocurrencies on Coinbase,
