Coinbase Review

Founded in 2012, Coinbase was set up to allow users to easily and securely access Bitcoin. Since then it has expanded to be one of the largest Cryptocurrency exchanges worldwide, supporting numerous Cryptocurrencies across 100+ countries and storing capabilities via its Crypto wallet. It now stands at 43m+ verified  users who enjoy the great and intuitive interface on their browser and mobile app. Coinbase Pro, which used to be known as GDAX, is also available to the more experienced investor and traders

Pros

+ Easy to use interface

+ High security

+ Can be used to store Cryptos (Wallet)

+ Extensive help section and support

Cons

 Higher fees vs other exchanges

Fewer supported Cryptocurrencies vs other exchanges

 

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Coinbase Currencies and Payment Methods 

The following Cryptocurrencies are currently supported by Coinbase, there is some variation depending on where you are based which you can refer to here:

AAVE, ALGO, ATOM, BAL, BAND, BAT, BCH, BNT, BSV, BTC, CGLD, COMP, CVC, DAI, DASH, DNT, EOS, ETC, ETH, FIL, GRT, GNT, KNC, LINK, LOOM, LRC, LTC, MANA, MKR, NMR, NU, OMG, OXT, REN, REP, SNX, USDC, UMA, UNI, WBTC, XLM, XRP, XTZ, YFI, ZEC, ZRX

 

Payment methods supported include:

  • Cryptocurrency (if supported, see above)
  • PayPal for withdrawals
  • Wire transfer
  • Debit cards
  • Credit cards
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Coinbase Safety and Security 

Coinbase probably has the highest security levels of all exchanges. Users need to go through “know your customer” protocols to verify their identity before they can buy or sell any Cryptocurrency. Strong passwords and two-factor authentication (2FA) are also provided to bolster your account from any hacking. Coinbase can proudly report a clean record of having never been hacked and all their website traffic is encrypted to help keep this proud record going. 

 

As exchanges go, Coinbase is one of the safest, if not the safest place to store your Cryptocurrencies. That being said, we at Complete Crypto recommend for best security you use a hardware wallet device like Trezor or Ledger. We have ranked the best Crypto wallets to help make the best decision on how to store your Cryptos

Coinbase Fees and Limits

Fees do vary by location, so it is worth referring to Coinbase’s full fee structure depending on where you are in this link. Depending on how you choose to purchase, fees can vary which is one of the downsides of Coinbase for less clarity here compared to other exchanges. Generally most transaction fees are 1.49% and rising to 3.99% for credit card purchases. 

 

A Coinbase account works with different limit levels. A bank transfer deposit method will allow for higher limits vs debit or credit card. In order to raise your buying limits you need to provide and verify a: mobile number, personal information and a valid photo id.  A fully verified user in the US can deposit up to $25,000 a day. 

 

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Coinbase Services Offered and Customer Support

The main service is the ability to buy and sell 30+ Cryptocurrencies, but Coinbase also offers numerous other services. Coinbase Pro: is one of these that provides a more advanced solution for more experienced traders and users where fees are considerably lower too. 

Wallet: capabilities are also given to users who can store their Cryptocurrencies via private keys on their devices

Merchant solutions: Coinbase also provides a plugin that allows online sellers to accept Cryptocurrency payments. This plugin itself is supported by some of the largest CMS around like Shopify or WooCommerce

Other business services: includes ventures (to raise money for your Cryptocurrency start up), asset hub (to list your asset on Coinbase) and custody (offline storage solution of Cryptocurrencies; also called ‘cold storage’)

Earn: start short courses to earn amounts of up and coming Cryptos in your Coinbase portfolio

Customer Support: Alongside customer support there is a comprehensive help section to assist any queries users may have. If sending a support ticket via email generally the response time is 48-72 hours, but depending on the request this might vary.  

Coinbase Supported Countries

Coinbase supports 100+ countries which are listed below:

Angola, Benin, Botswana, Cameroon, Ghana, Kenya, Mauritius, Namibia, Rwanda, South Africa, Tunisia, Uganda, Zambia, Armenia, Bahrain, Brunei Darussalam, Hong Kong, India, Indonesia, Jordan, Kazakhstan, Korea, Kuwait, Kyrgyzstan, Macao, Maldives, Mongolia, Nepal, Oman, Philippines, Singapore, Taiwan, Uzbekistan, Australia, New Zealand, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Aruba, Bahamas, Barbados, Bermuda, Canada, Costa Rica, Curaçao, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicaragua, Panama, Trinidad and Tobago, United States, British Virgin Islands, Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay

 

However it is worth noting that only the following countries allow buying and selling: Australia, Canada, Singapore, the United Kingdom, and the United States and in Europe: 

Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden and Switzerland

Coinbase Verdict

Editorial Team:

Coinbase is one of the world’s biggest exchanges and it is no surprise; the interface and platform is great and simple to use. It is a perfect starting point, and while it may not support all Cryptocurrencies (46+), the most well known are certainly available there. The rewards system also provides a nice little boost to your portfolio where you can gain up and coming Cryptocurrencies via 5 min courses. While Coinbase offers higher security vs other exchanges, it is worth noting though, that you can find more competitive rates on the fees with other exchanges. 

CEX.io

CEX.io is one of the world’s first Crypto exchanges and highly rated. This CEX.io review covers all you need to know before opening an account: from fees, to safety, cryptos supported and all the services provided.

Kraken

Established in 2011, Kraken is one of the most secure Crypto Exchanges around. This Kraken reviews covers all you should know before creating your account: fees, services offered and safety levels and of course the Cryptocurrencies available.

FAQs

At Complete Crypto we hear many questions on exchanges and have sourced the most common ones here to help you

Coinbase users (and potential users) most commonly ask these questions about the platform

Is Coinbase safe?

Coinbase has never been hacked and has the well earned reputation of being the safest Cryptocurrency exchange on the market.

Can I store my Cryptos in Coinbase?

Yes. If one of the supported Cryptocurrencies you can store them in the Coinbase wallet. The safest option is to use a hardware wallet like Trezor or Ledger though.

How do I get my money out of Coinbase?

To withdraw money you can do so via your bank account or PayPal account if linked to your Coinbase account. For Cryptocurrencies you can withdraw to your wallet (if a supported currency by Coinbase). 

How long do withdrawals take from Coinbase?

Cryptocurrency withdrawals should take no more than an hour. Ordinarily though, withdrawals are instant, but your bank account may take a few days to process it. 

How high are Coinbase's fees?

Fees vary depending on a number of factors. Full breakdown can be found in this link. As a rule of thumb, transaction fees tend to be 1.49% rising to 3.49% for credit card purchases.

How do I speak to support at Coinbase?

You can raise a support ticket for the customer service team to get back to you or call the customer support line via telephone. There is also a comprehensive help section to refer to which in most cases will solve a query.