Coinbase Crypto Exchange Review

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Rating: 5/5

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What Is Coinbase?

Coinbase is an online cryptocurrency exchange platform considered to be one of the largest and most demanded in the world. Coinbase exchange provides the two most popular services in the field ­ crypto trading and brokerage service.

Coinbase is an American company that successfully runs its business since 2012. Although the Coinbase cryptocurrency trading platform operates for over eight years, it continues to develop. Thus, in 2021, the company increased its possessions to $90 billion considering that in 2020, its assets comprised $35 billion. Additionally, Coinbase Q1 profit in 2021 is roughly $730-800 million.

Coinbase exchange is appropriate for newbies and experienced investors because it offers a great variety of additional services like Coinbase Pro, Coinbase Wallet application, and Coinbase Card, as well as a wide choice of fiat and cryptocurrencies (50+) and payment methods.

Coinbase Team

The Coinbase team includes more than 1,700 workers. There are professionals in different fields like crypto analytics, management, brokerage, IT technologies, finance, etc.

The company board includes such specialists as:

Coinbase Team
  • Brian Armstrong, Co-Founder & Chief Executive Officer
  • Emilie Choi, President & Chief Operating Officer
  • Surojit Chatterjee, Chief Product Officer
  • Alesia Haas, Chief Financial Officer
  • L.J. Brock, Chief People Officer
  • Paul Grewal, Chief Legal Officer
  • Manish Gupta, EVP of Engineering

Previous Coinbase reviews informed that the head office of the Coinbase trading platform was located in San Francisco. The main office is still there but not for long. The company decided to close the headquarter and switch to remote work. Such a decision was made under the influence of the global quarantine. So, starting from 2022, Coinbase employees will switch to a remote work format.

Coinbase vs. Coinbase Pro

Coinbase Pro, as well as Coinbase, is a cryptocurrency exchange that was registered in 2012. It is owned by Coinbase Global Inc. So, Coinbase Pro is not a competing cryptocurrency exchange but an advanced trading platform.

If you do not where to trade ­ on Coinbase or Coinbase Pro ­ you should take into account their key features.

Coinbase supports 51 cryptocurrencies; Coinbase Pro offers 52 positions. Coinbase Pro trading platform provides a simpler fee structure, but Coinbase Pro fees could be higher. Customers of Coinbase should consider trading limits, which vary depending on a chosen payment method and your location. Though, all trading operations on Coinbase Pro do not have limits.

In addition to standard services provided by the Coinbase platform, such as buying, selling, exchanging, etc., Coinbase Pro offers services of a stop order, time in force order, and limit order.

Coinbase is appropriate for newbies because of its convenient interface and the possibility to deposit with fiat currencies. On the other hand, Coinbase Pro is a great option for more experienced traders who are interested in crypto-to-crypto pairs.

Coinbase Review Summary

Criteria

Value

Cryptocurrency Exchange

Coinbase

Company Website

Year Founded

2012

Location

San Francisco, the USA

Twitter

https://twitter.com/coinbase (2.9M followers on Twitter)

Facebook

https://www.facebook.com/Coinbase (348K followers on Facebook)

Blog

Fiat Currency

GBP, USD, and EUR

Cryptocurrency

50+

Payment Type

Credit and debit cards, bank transfer, SEPA transfer, PayPal, etc.

Fees

0.50% for 1 trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases

Feature

Total Rating

Ease of Use

5 ⭐⭐⭐⭐⭐

User Interface

5 ⭐⭐⭐⭐⭐

Fees

4,5 ⭐⭐⭐⭐

Security

5 ⭐⭐⭐⭐⭐

Support

5 ⭐⭐⭐⭐⭐

Speed

5 ⭐⭐⭐⭐⭐

Payment Options

5 ⭐⭐⭐⭐⭐

Coinbase Advantages and Disadvantages

Advantages

Advantages of Coinbase:

  • Combination of demanded services like brokerage and trading
  • Availability of additional platforms, such as Coinbase Pro, Coinbase Card, and Coinbase Wallet app
  • More than eight years of experience
  • Professional team of 1,700+ specialists
  • More than 56 million verified users
  • Trading with over 50 digital currencies
  • Low limits for account assets
  • A variety of payment options
  • The possibility to deposit with fiat currencies (GBP, EUR, USD)
  • Mobile apps, digital storage, educational investing resources, and constant client support
  • Safety of your funds and personal information
  • Simple and convenient interface
  • Simple fee structure
  • High liquidity digital wallet

Disadvantages

Disadvantages of Coinbase:

  • Lack of crypto futures and leveraged accounts
  • Does not offer external storage wallets crafted by personal wallet companies
  • High trading and transaction fee
  • No autonomous control over users’ funds because Coinbase, as a centralized exchange, has to control all holdings

Key Features

To decide whether Coinbase cryptocurrency exchange is appropriate for your requirements and interests, it is reasonable to familiarize yourself with the Coinbase exchange review. It will help you to discover how Coinbase works and the peculiarities of its service. There is a list of the main features of the trading platform:

  • Coinbase was founded and registered as an exchange in 2012 in the USA
  • The company functions as a website for crypto trading and brokerage service
  • Quarterly volume traded ­ $335 billion
  • Assets on the platform ­ $223 billion
  • Over 1,700 workers; more than 56 million users
  • 100+ accepted countries
  • More than 50 cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Chainlink, etc.
  • Coinbase allows making fiat deposits (GBP, USD, and EUR)
  • A variety of payment methods (credit and debit cards, bank transfer, electronic payment systems)
  • Additional services, such as Coinbase Wallet app, Coinbase Card, and Coinbase Pro
  • Simple interface and constant customer support service
  • Fees ­ 0.50% for 1 trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases
  • Minimum trade ­ $2
  • Reliable security system and verification program
  • Mobile applications

Coinbase is considered to be one of the most demanded and safest exchanges in the world. This cryptocurrency exchange is appropriate for experienced investors as well as beginners.

Coinbase Products & Services

Coinbase offers the following services and products:

  • Coinbase exchange
  • Coinbase Pro
  • Coinbase Wallet
  • Merchant solutions

Coinbase Exchange

The trading process on the Coinbase exchange is quite simple; so, it is appropriate for newbies in the industry as well.

To start trading on the exchange platform, it is necessary to sign up and create your personal account.

All services carried by Coinbase are accessible only for registered users.

Trading on Coinbase is so popular because the platform offers over 50 cryptocurrencies and over 60 crypto trading pairs. There are more than 40 digital currencies that can trade for BTC, 7 currencies for ETH, and 11 currencies for USDC.

The platform allows you to follow all changes of a certain cryptocurrency status to have a chance to provide the most successful trading.

Coinbase Exchange

In addition, Coinbase exchange gives the possibility to trade even for those who do not have any cryptocurrencies. Users can deposit with fiat currencies. Coinbase accepts GBP, USD, and EUR for crypto trading.

So, to join trading, it is necessary to:

  • Create your personal account.
  • Make a deposit with fiat or cryptocurrency.
  • Choose cryptocurrency or a pair you want to invest in.
  • Select a payment method.
  • Confirm the order.

The trading process in the Coinbase app has the same features.

Coinbase Pro

Coinbase Pro

Unlike the Coinbase trading platform, Coinbase Pro does not have so simple interface; so, it is more appropriate for experienced traders and those users who want to make large investments. Thus, Coinbase Pro provides an advanced trading service.

Coinbase Pro offers:

  • 52 digital currencies for trading
  • Advanced charting specifics and crypto-to-crypto trading pairs
  • Few limits for trading
  • Additional services like stop order, time-in-force order, and limit order

Coinbase Pro provides its own application, which features real-time charting tools with moving averages and exponential moving averages.

Coinbase Wallet

Coinbase Wallet

Just like most digital cryptocurrency exchanges, Coinbase provides the service of an electronic wallet. Users can use the Coinbase wallet for digital asset storage. It is reasonable to use such an option because it is convenient to store all your funds in one place, and it is safe because the platform assures a high level of security for stored assets. To protect its electronic wallet and stored assets, Coinbase uses Secure Enclave and biometric authentication technology.

Coinbase wallet is approachable in the Apple App Store and Google Play Store as it is decentralized.

Merchant Solutions

Merchant solutions really simplify the use of exchange for traders. Merchant service allows exchanges to use tools to provide a variety of payment options. Thus, due to merchant solutions, Coinbase accepts credit and debit cards, bank transfers, and other electronic methods of payment.

Coinbase offers such payment options as PayPal, SWIFT, ACH, Wire transfer, etc.

Coinbase Trading Platform

How to Trade on Coinbase?

Here is a part of the Coinbase review that includes recommendations on how to start trading on Coinbase.

If you want to trade on Coinbase exchange, you need to sign up:

  • Click Get Started on the main page of the website.
  • Create your Coinbase account.
How to Trade on Coinbase?

Pass a verification procedure.

verification procedure

If you are a registered user, you can start buying, selling, and trading on the platform anytime you want.

How to Trade on Coinbase

Trading includes depositing and withdrawing. Consider that there are limits for different currencies and regions.

Follow these simple steps to buy/sell on Coinbase:

  • Click Buy/Sell in the upper right corner.
  • Select the asset from the offered list.
  • Enter the amount you'd like to acquire or sell.
  • Choose the payment method.
  • Click Preview Buy/Preview Sell to confirm your order.
  • Check details and complete the operation.

Spot Trading

Spot trading implies the use of spot trades, which are called FX spots (foreign exchange spots). Traders use such trades to buy and sell cryptocurrencies “on the spot” when a certain currency has a definite rate and price at a previously determined moment. The spot crypto market allows traders to provide trading directly between sellers and buyers.

Margin Trading

Margin trading, which is a service of money lending to traders, is not available on Coinbase. Though, it is possible to trade using borrowed funds of the exchange on Coinbase Pro.

Coinbase provides such a policy regarding margin trading because margin can multiply gains as well as losses. So, this kind of trading is not reliable. Additionally, there are always too many users who want to get a margin, which can negatively influence the company assets.

Coinbase Futures and Derivatives

Futures and derivatives are public company agreements about trading with certain assets at a definite price.

Coinbase Global Inc., which is an owner of the Coinbase platform, is going public. This information is dated April 2021.

Which Countries Does Coinbase Support?

The main Coinbase location is settled in the USA. Though, the service of this trading platform is available for users all over the world.

No matter where is Coinbase located; it is very popular in the UK. A large number of residents of London and surrounding cities prefers this exchange to others.

The majority of the most active Coinbase users are the UK citizens. Moreover, the Coinbase exchange rate in the UK is one of the highest among all supported countries.

In addition, Coinbase supports more than 100 countries:

  • North America (Canada, the USA, Bermuda, Bahamas, Dominican Republic, Guatemala, Mexico, Honduras, etc.)
  • South America (Argentina, Brazil, Chile, Colombia, Peru, Ecuador, etc.)
  • Europe (the UK, Belgium, Bulgaria, Croatia, Cyprus, Denmark, France, Gibraltar, Iceland, Italy, Monaco, Spain, Sweden, Turkey, etc.)
  • Asia (Armenia, Hong Kong, India, Indonesia, Kazakhstan, Maldives, Nepal, Singapore, Taiwan, etc.)
  • Oceania (New Zealand)
  • Africa (Angola, Botswana, Kenya, Namibia, Rwanda, South Africa, Tunisia, Uganda, Zambia, etc.)

Consider that there are diverse local regulations; so, some cryptocurrencies could be inaccessible in some regions.

List of Banned Countries by Coinbase

Although Coinbase supports a large number of countries, there are still regions that are not supported by this platform, such as Afganistan, Nigeria, Algeria, Tanzania, Ukraine, Russia, Bosnia and Herzegovina, Burundi, Cuba, etc.

How to Get Started with Coinbase?

Registration Process

The first stage of the trading process on Coinbase implies a registration procedure. If you want to join trading on Coinbase, you need to follow this instruction:

  • Click Get Started on the main page of the official website.
  • Create your personal account.
  • Enter the necessary information (email, phone number, etc.).

The registration process is very simple and quick.

Verification

Does Coinbase Require KYC?

Coinbase provides its verification process in accordance with international KYC (know your client) regulations. KYC is a great method to identify customers to assure the highest level of security for workers and other clients and avoid fraud.

Moreover, Coinbase has 2-step verification system, which is also known as 2FA (2-factor) or multifactor authentication. Thus, the verification on Coinbase is based on two keys – password and username.

A 2-step verification system protects you from logging in with an unrecognized device or phone number and any operations with crypto out of your Coinbase account.

Account Types

On Coinbase, you can register two types of personal accounts:

  • Basic account
  • Verified account
Basic Account

Coinbase does not require Identity Verification from all users but requires all clients to input some personal information.

Verified Account

To get a verified account, it is necessary to provide such types of verifications as Identity document verification, Identity photo verification, and Address verification.

Deposit and Withdrawal Options

How to Buy Crypto on Coinbase?

To start buying crypto on Coinbase, it is necessary to familiarize yourself with the necessary processes – Coinbase withdrawal and depositing. These two procedures are the basis of crypto investing, selling, and trading on online exchanges.

To make a deposit on Coinbase:

  • Register on the official page.
  • On the left side of the main page. find the Deposit option.
  • Select the currency for a deposit (you can choose fiat currency as well).
  • Choose a payment option.
  • Confirm the operation.

What is also important to know is how to withdraw money from Coinbase. To provide Coinbase UK withdrawal or withdrawal for other countries, you need to:

  • Check the balance on your e-wallet to ensure you have assets to withdraw.
  • Find the Withdraw option.
  • Select a currency for withdrawal (GBP, USD, or EUR).
  • Choose the transfer method.
  • Confirm the withdrawal.

Providing deposits and withdrawals, consider that there are Coinbase minimum withdrawal, which is £500 for UK users, and Coinbase commission for every transaction.

How to Buy Crypto on Coinbase Pro?

The process of buying crypto on Coinbase Pro is similar to buying on Coinbase. Users get a wide choice of currencies and payment options for crypto trading.

Cryptocurrencies Supported on Coinbase

Coinbase is available for users who want to provide crypto trading using fiat and cryptocurrencies.

Coin Support

Coinbase offers a range of cryptocurrencies:

  • Aave (AAVE)
  • Algorand (ALGO)
  • Cosmos (ATOM)
  • EThe Balancer (BAL)
  • Band Protocol (BAND)
  • Basic Attention Token (BAT)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bancor Network Token (BNT)
  • Bitcoin Satoshi's Vision (BSV) (Send Only)
  • Celo (CGLD)
  • Compound (COMP)
  • Civic (CVC)
  • Dai (DAI)
  • Dash (DASH)
  • DistrictOx (DNT)
  • EOS (EOS)
  • Ethereum Classic (ETC)
  • Ethereum (ETH)
  • Filecoin (FIL)
  • The Graph (GRT)
  • Golem (GNT)
  • Kyber Network (KNC)
  • Chainlink (LINK)
  • Loom Network (LOOM)
  • Loopring (LRC)
  • Litecoin (LTC)
  • Decentraland (MANA)
  • Maker (MKR)
  • Numeraire (NMR)
  • NuCypher (NU)
  • OMG Network (OMG)
  • Orchid (OXT)
  • Ren (REN)
  • Augur (REP)
  • Synthetix (SNX)
  • USD Coin (USDC)
  • Universal Market Access (UMA)
  • Uniswap (UNI)
  • Wrapped Bitcoin (WBTC)
  • Stellar Lumens (XLM)
  • Ripples (XRP)
  • Tezos (XTZ)
  • Yearn.finance (YFI)
  • Zcash (ZEC)

Consider that some cryptocurrencies from the offered list are not available for certain regions.

Fiat Support

Coinbase exchange supports the following fiat currencies:

  • Pound Sterling (GBP)
  • United States dollar (USD)
  • Euro (EUR)

Coinbase offers the possibility to make a fiat deposit.

Fees

Coinbase Trading Fees

Coinbase carries Coinbase exchange fees, which are special payments for any transaction you provide on the platform. Such Coinbase fees or Coinbase charges are divided into two main categories: deposit and withdrawal fees.

In addition, there are maker fee (from 0.00% to 0.50%) and taker fee (from 0.04% to 0.50%).

For UK users, the standard flat fee is 1.49%, instant buy fee is 3.99%, bank transfer SEPA is free or €0.15, Free Payments are free, and instant card withdrawal is up to 2% for any operation (minimum fee is £0.55).

Coinbase Deposit Fees

Most Coinbase transaction fees are 1.49% for standard operations and 3.99% for credit/debit card use. Consider that deposit fee amount depends on the chosen deposit currency and your region.

Coinbase Withdrawal Fees

The withdrawal fee depends on the selected currency, region, and a chosen payment method. For instance, when you use credit/debit cards, the fee is 3.99%, and when you provide crypto conversion, the fee varies from 0.50% to 2%. Consider that withdrawal fees are always higher than deposit commissions.

Coinbase Limits

There are minimum and maximum limits for deposits and withdrawals on Coinbase.

Thus, for users from the UK, the standard daily maximum trading limit for Coinbase users is £10,000/€10,000. The monthly limit is £20,000/€20,000, and the annual limit is £100,000/€100,000.

Coinbase Pro Fees

Coinbase Pro limits are also divided into maker and taker fees. Thus, a maker fee varies from 0.00% to 0.50%, and a taker one varies from 0.04% to 0.50%.

Coinbase Pro Limits

There are different limits for various payment options and regions. For example, for UK customers, there is a minimum deposit limit of £1,000 for the use of SWIFT. Also, there is a maximum deposit limit of £250,000.

Buying Limits

Buying limits on Coinbase have several levels, and it is possible to increase your level by providing:

  • phone number verification
  • personal information verification
  • photo ID verification

Fully completed verification allows receiving the maximum daily trading limit of £10,000/€10,000 for UK citizens and $25,000 for US users.

Regulation and Security

Is Coinbase Safe?

Is Coinbase legit and safe? Yes, the platform provides a great verification system and innovative security mechanisms. 98% of all customers’ funds are stored in offline cold storage, which assures the highest level of asset safety.

Is Coinbase Regulated?

Coinbase is owned by Coinbase Global Inc., which is registered as a money transmitter. Thus, Coinbase is regulated by the New York State Department of Financial Services.

Could Coinbase Be a Scam?

Is Coinbase a scam? No, Coinbase is one of the most respectable crypto exchanges in the world. Moreover, the trading platform is officially licensed and regulated by authorized bodies.

Was Coinbase Hacked?

Coinbase has never been hacked due to a great security system.

Coinbase Apps

Desktop App

Coinbase provides a desktop app, which is known as DApps, for desktop browsers like Chrome, Opera, Safari, Brave, etc.

iOS App

iOS App

Coinbase offers an app for the iOS operating system. So, you can use the platform on iPhone, iPad, or Mac anytime you need, even if there is no Internet connection.

Android App

Android App

There is also an application for Android users. The package of services available in mobile apps is the same as the browser version offers.

Customer Support and User Reviews

Coinbase is a popular exchange; so, it is easy to find a Coinbase UK review and reviews for citizens of other supported countries.

Coinbase provides constant client support. So, if you have any questions, you can get an answer directly from the company.

Coinbase Alternatives

The main alternatives of Coinbase are Gemini, Binance, Bitstamp, and Coinbase Pro.

Coinbase vs. Bitstamp

Bitstamp is an advanced trading platform, which offers a variety of currencies and a high level of security, just like Coinbase. Additionally, Bitstamp offers business accounts. Fees for the total transaction amount are lower on Bitstamp.

Though, Bitstamp is not appropriate for beginners because of the complicated interface. Also, Bitstamp has lower liquidity than Coinbase.

FAQ

Is Coinbase a Wallet?

Coinbase is not a wallet. It is a digital exchange that offers an electronic wallet for asset storage as a service.

How Do I Deposit on Coinbase?

To make a deposit on Coinbase, you need to:

  • Sign up on the official page and create an account.
  • On the left side of the main page, find the Deposit option.
  • Choose the currency for a deposit (you can choose fiat currency as well – GBP, EUR, or USD).
  • Choose a payment option (credit or debit card, electronic payment system like PayPal, bank transfer).
  • Confirm the operation.

Pay attention to definite depositing limits on Coinbase.

How Do I Create an API?

There is an instruction of Coinbase API creation:

  • Find the Menu on the upper-right side of the Coinbase dashboard on the official website.
  • Choose the API option from the menu.
  • Under Profile Information, find the API Settings tab, then choose the New API Key option.
  • Choose your account and confirm permissions, create a password, and then type in your 2-Factor Authentication code.
  • Click Create API Key to receive a unique key.

The new API key will be sent to the API Settings page.

How Can I Buy Cryptocurrency with Coinbase P2P?

It is impossible to buy crypto with P2P because it is not supported by Coinbase.

How Do I Start Leveraged Trading on Coinbase?

Coinbase does not provide leveraged trading.

Can I Withdraw Money from Coinbase?

To withdraw your money from Coinbase:

  • Check the balance on your e-wallet to ensure you have assets to withdraw.
  • Find the Withdraw option.
  • Select a currency for withdrawal (GBP, USD, or EUR).
  • Choose the transfer method.
  • Confirm the withdrawal.

Can I Buy Bitcoins on Coinbase?

Yes, you can buy Bitcoins on Coinbase, as well as other 50+ cryptocurrencies.

How Do You Buy Bitcoins on Coinbase?

To buy Bitcoins on Coinbase:

  • Create an account.
  • Make a deposit.
  • Click Buy in the upper-right corner.
  • Choose Bitcoin.
  • Select a payment method.
  • Confirm the operation.

Any Questions?

In case you have any questions, ask our team. Our specialists are always ready to help and provide answers to all questions.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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