Coinbase offers a large selection of cryptocurrencies, an easy-to-use design, and educational content. It also offers the more sophisticated Coinbase Pro platform for crypto investors. It is the most popular cryptocurrency exchange in the world thanks to these benefits and its high-quality security. To find out if it’s the right exchange for you, read our complete review.
Cryptocurrencies on Coinbase
Coinbase allows you to trade over 100 cryptocurrencies. New coins are added regularly. There are many, but we will only list the most important currencies:
- Bitcoin (BTC).
- Ethereum (ETH).
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC).
- Dogecoin (DOGE).
- Uniswap
- Litecoin (LTC).
- Shiba Inu (SHIB)
- Algorand (ALGO).
- Stellar Lumens (XLM)
- Polygon (MATIC).
- DAI (DAI).
- SushiSwap (SUSHI).
Features
Ease of use
Coinbase is extremely easy to use. To minimize trading costs, signing up is quick and easy.
It is easy to use and brightens the interface. The search bar allows you to quickly navigate through the many crypto offerings, including Tellor and Bitcoin. You can also set up purchases that will recur.
This cryptocurrency exchange lets you trade selected cryptos to cryptos. This means you can convert your Augur to Litecoins. This conversion incurs a fee of 2% on the transaction.
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
How secure is Coinbase?
Coinbase has built its reputation as a safe place to buy and trade crypto. This was a particularly important claim after Mt. This was especially true after Mt. Coinbase has never experienced such a catastrophe.
The platform claims that 98% are offline and stored in different locations all over the globe, providing greater security for digital assets. It stores your crypto in their free wallet service. However, you can also choose to store your crypto in a third party wallet.
To sign in to your account, you will need to perform a 2-factor authentication. You can also use biometric fingerprints or AES256 encryption for your private keys.
It also offers crime insurance to protect your digital assets from theft and cybersecurity breaches. This insurance does not apply to individual accounts and only kicks in if the exchange itself is compromised.
Financial Services Compensation Scheme protection doesn’t cover cryptocurrency in your accounts.
Education
Coinbase’s Learn platform rewards users with cryptocurrency when they complete lessons. These interactive lessons, which are similar to Instagram Stories, take less than 10 minutes each and usually reward users with $1 (PS0.77) up to $5 (PS3.85) of the coin they are learning.
Staking Rewards
Coinbase customers who have certain coins in their accounts can earn rewards if the exchange stakes them or uses them to verify transactions for proof of stake cryptocurrencies like Ethereum. Coinbase charges 25% commission on staking profits.
Coinbase Pro
This is for advanced traders, while Coinbase is intended for beginners. Both Coinbase Pro and Coinbase can be used with the same credentials.
It provides a complete crypto trading experience. It features advanced charting capabilities, a greater variety of order types, including stop, limit, and market orders. It also allows free transfers between Coinbase Pro and Coinbase wallets.
Coinbase Fees
Coinbase does not disclose its fees and pricing. Coinbase recently removed its entire fee schedule from its online help section. You can see the cost of a trade on the trade screen before you start a trade.
These are the fees that you can expect from the main platform:
| Trade Size | Fees |
| $10 or less | $0.99 |
| From $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| From $50 to $200 | $2.99 |
Trades over $200 are subject to a percentage-based fee instead of a flat fee.
For certain account funding methods and withdrawals, additional fees may apply.
| Payment Method | Coinbase Fees |
| Bank Account | 1.49% |
| USD Wallet | 1.49% |
| Credit/Debit card | 3.99% |
| Credit/Debit card | No cost |
| Credit/Debit card | $10 incoming, $25 outgoing |
| Credit/Debit card | 2% |
Transaction and Trading Fees
Coinbase’s fee structure is confusing because it depends on three factors:
- It charges a spread for cryptocurrency purchases and sales. Although rates may vary according to market fluctuations, Coinbase has stated that the average fee is 0.5%.
- Coinbase claims that it charges fees based upon a variety of factors, including the chosen payment method, order size, market conditions, volatility, liquidity, and the market conditions.
- It also charges fees for transactions on external blockchain networks that support cryptocurrencies.
These factors make fees hard to predict on the main platform. The company claims that it clearly discloses fees to customers before finalizing a transaction.
Coinbase Pro’s pricing model, by comparison, is simpler, but fees have increased slightly in recent years. It is based on your monthly trading volume, liquidity, and the asset’s availability at the time you purchase it. If your order has to wait for a buyer, a “taker fee” will be charged. Coinbase Pro requires that deposits and withdrawals be made to a bank account. No card purchases are permitted. Wire transfer fees still apply.
Pros and Cons
| Pros | Cons |
| Large selection of cryptocurrencies available for trade | Expensive and difficult-to-understand fee structure |
| Minimum account balance | To get lower fees, you will need to use a different platform |
| Convenient user experience |
How Coinbase works
Coinbase lets users buy, sell and spend cryptocurrency. You can use it to make ACH transfers, wire money, or debit card payments. ACH transfers are the best option because you can transfer money directly from your bank account.
The crypto exchange has many features including:
- Advanced and standard trading platforms
- Safe crypto storage with Crypto wallets
- Use your debit card to buy crypto and get crypto rewards
- Coinbase Earn is a program that allows you to earn crypto free of cost by completing educational modules
Conclusion
Coinbase is a great platform to exchange, buy, store, and sell cryptocurrency. This platform is ideal for cryptocurrency beginners who don’t want to deal with the complexity of decentralised exchanges or external wallets.
Its pricing structure and customer support are the biggest drawbacks. It’s a great option for anyone who wants to participate in cryptocurrency.
