The webs most detailed Coinbase Review: Find out what our expert has to say about this high-security US cryptocurrency exchange that has earned the title “the safest crypto exchange”. Learn what makes Coinbase special when it comes to investing, trading, and why you should use this platform.
Pros
• Most secure digital asset exchange globally
• Easy to use and suitable for beginners
• One of the most used exchanges globally
Cons
• Weak trading platform for active day traders
• Few altcoins listed on the exchange
• Unfavorable transaction fees
Why Coinbase
In this section of our Coinbase review we highlight 6 special features that deserves extra attention.
About Coinbase
Coinbase is regulated by the Financial Conduct Authority and has a license to engage in money transmission in most states in the United States and outside of the US, it is authorized by the Financial Conduct Authority under the Electronic Money Regulations to issue electronic money. This is almost as good as it gets when it comes to security in the world of centralized cryptocurrency exchanges.
The headquarter is located at 00 Pine Street, Suite 1250, San Francisco, CA 94111. Coinbase started as an initiative to spread the word about cryptocurrencies and make it possible for anyone anywhere in the world to be able to hold a digital asset. The plan is still in effect and they are moving forward every year. Today they have earned a good reputation for themselves as being one of the crypto exchanges with the highest security of them all.
Why use Coinbase
If your main priority is security, then Coinbase is absolutely the right choice for you. Coinbase offers different special features like staking, trading, coin exchange, and other promotions related to crypto, however, this is the one place investors go when they are looking for a safe place to store their coins. If you are a beginner investor in the cryptocurrency space then you will find Coinbase very easy to use since they are focusing on usability for all customers.
Coinbase is also a well-known company and they have over 1200 employees so this is another reason to use this platform. It’s a real company with real offices and a good reputation as well. Many well-known investors were behind Coinbase in the early days and that says a lot about the management. Overall, if you are tired of all the smaller exchanges and want a reliable place to store, or trade your coins, Coinbase is definitely for you.
Trading on Coinbase
I am not happy with trading on Coinbase for a number of reasons. First of all, the charting package is pretty much useless. They have almost no technical indicators, the chart is very slow, and the order selection is not suited for active traders. You do not have the option to place a stop loss and don’t even think about scalping. Coinbase launched its own more professional trading platform Coinbase PRO but this one is not up to standards in my opinion.
When I entered the Coinbase PRO platform I didn’t get surprised by a lot of trading tools and advanced charting with drawing tools. It’s a very basic trade interface. However, if that’s what you are looking for then you might favor Coinbase PRO over other trade platforms. This platform doesn’t get my recommendations when it comes to active trading!
Payment methods and limits
Coinbase offers basic payment methods, card payments, bank transfers, and PayPal. Regarding limits, it is possible to increase the daily deposit limit from $7500. Also, there is an option to sign up for an institutional account and here you will get access to their OTC desk which has a lot higher limits. So, if you are a large investor, head over to the Coinbase PRIME section, sign up, and make large orders today.
Coinbase category rating
| Costs: | 3.8/5 |
| Security: | 4.8/5 |
| Trading Features: | 3.2/5 |
| User-friendliness: | 4.0/5 |
| Educational Resources: | 4.0/5 |
| Mobile-Friendly: | 4.5/5 |
| Funding: | 4.5/5 |
| Customer Support: | 3.8/5 |
Things we don’t like
As mentioned before, I am not very happy with the trading part of this cryptocurrency exchange. Another thing I noticed was that the customer support was pretty weak as well. I tried to contact them by email and I still haven’t got a response, a couple of hours later. This is something I don’t like at all, especially when they don’t have a live chat as well. With the economy of such a large exchange, they should be able to open up a department for better customer support and include a 24/7 live chat.
Coinbase Trading Fees
Products
Trading Platforms
Order Types
Supported Devices
Special Features
About the special features on Coinbase
High security, cold storage, and a great way of investing in bitcoin and other cryptocurrencies are what’s promised on the Coinbase cryptocurrency exchange. When I was reviewing this platform I realized that there is a crypto OTC market as well for institutional investors where you will get access to deeper liquidity and better orders. A fairly quick registration system is a huge plus for this exchange and the fact that they will ask for KYC documents is a good feature for your safety.
If you are into promotions Coinbase has a couple of ways to earn free cryptocurrencies through their earn section. There is also a fair amount of education if you browse the site a little and a lot of nice blog posts from good content writers.
Staking is another option on this centralized exchange that you can use if you have spare coins you are not using at the moment.
Coinbase PRO
This is the go-to hub for traders that are interested in day trading or swing trading cryptocurrencies on one of the safest platforms on the globe. It makes for ok trading, however, I would not recommend scalping here since the order selection is very poor.
I warn you also regarding the chart, it is quite slow and you will not be able to zoom in and out as you would on many other advanced charting platforms. It’s a good start but for now Coinbase PRO is not the highest-ranked trading platform on Tradingbrowser.
Our own experience with Coinbase
Coinbase Funding Methods
Accepted Currencies
Limits
| Max Withdrawal Limits | $100000 daily |
| Min Withdrawal Limits | $0.10 |
| Min Deposit Limits | $1.99 |
Coinbase Withdrawal Fee
| Method | Fee |
|---|---|
| Cryptocurrency | 0.50 % |
| USD | $25 |
Languages
Restricted Countries
Security
Is Coinbase safe to use?
Since it’s one of the most trusted crypto exchanges on the market it’s fair to say that it’s safe to use. Coinbase is registered as a Money Transmission Service and it is authorized to issue electronic money by the Financial Conduct Authority outside of the US. Inside the United States, it is licensed in most states which is a very good sign and makes it safe to deposit your fiat currencies. Coinbase will as for your KYC documents which is another plus since you are the only one that can send in the correct documents if your account would be compromised. 2FA verification is also an option you can activate to increase the security of your account. 2FA verification is used through your mobile phone to add an extra layer of protection.
Is Coinbase regulated?
Coinbase is regulated by the FCA, or Financial Conduct Authority and it’s also carrying a license in several US states.
Support
Similar Alternatives
Frequently asked questions
Read the most frequently asked questions about Coinbase. Find answers without searching the web.
Coinbase is a licensed cryptocurrency exchange and also one of the most trusted names in the industry. Coinbase is a very safe place to buy and trade cryptocurrencies.
Coinbase offers relatively good fees for buying Bitcoin with card payments and bank transfers. Regarding safety, it is recognized as one of the safest exchanges to use for crypto investments.
No, it is a very trusted exchange and you will definitely not get scammed while using this platform.
To make a withdrawal on Coinbase you need to first connect your bank account by sending an initial bank transfer deposit to the exchange. When you have connected your bank account to your Coinbase account you can start withdrawing your money.
It is a cryptocurrency exchange for beginners and advanced investors who want to buy or sell cryptocurrencies in a safe way.
Review Sources
The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Below is a shared list of the article sources used for this review.
- LinkedIn – “Coinbase Company“
- Trustpilot – “Coinbase.com“
- Securities and Exchanges Commission – “Coinbase Global, Inc.“