When you invest in cryptocurrency then there is the topmost requirement of an exchange platform which enables the smooth transaction of digital currencies. Doesn’t matter you have invested in Bitcoin, Ethereum or in litecoin but you must need a wallet which allows you to store, buy and sell all these coins. There are multiple benefits of a coin wallet and the Coinbase is one of the premier cryptocurrency wallets which gives you an easy to use interface. If you are looking to join coinbase then you must be aware of its pricing policies. For your ease, here in Coinbase Review, we will describe each and everything about its pricing, transaction charges, whether it’s safe to connect your bank account or not and so on.
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- 1 What is Coinbase?
- 2 Coinbase Fees
- 3 Coinbase supported countries
- 4 How to set up a Coinbase account?
- 5 Is Coinbase safe?
- 6 What User Says About Coinbase?
- 7 Coinbase Reddit Review:
- 8 Coinbase Customer support
- 9 Transaction using Cryptocurrency
- 10 Final verdict
What is Coinbase?
Initially, in my coinbase review, I want to tell you exactly what is coinbase. Coinbase is the platform which allows investors to buy, sell and store their digital asset in a secure way. Initially, Coinbase was introduced in 2012 in San Francisco and currently, it is used by 12 Million investors to exchange their cryptocurrencies. 2013 was the milestone year for Coinbase as it has become the largest funded Bitcoin startup and also the most huge exchange for cryptocurrencies across the globe.
Its users can sell their cryptocurrency on their set price which is usually based on the market value. There is less number of exchanges platforms which supports credit cards and Coinbase is one of them.
Guys, I know you are curious about Coinbase fees and here in Coinbase review, my main focus is on its charges. There is variation in Coinbase charges according to your mode of payment. Usually, Coinbase charges 1.49% to 3.99% and the fees are high for credit card users. The fees is less than other competitors which give you the same facility.
Currently, with Coinbase, you can purchase Bitcoins, Ethereums, and Litecoin but it is working for adding new cryptocurrencies. If you are planning to trade your Bitcoins via Coinbase then you can get funds with Paypal also. Only sellers can use the Paypal.
Coinbase supported countries
Another important motive of our Coinbase review is to highlight the countries to which it supports. Coinbase gives its services in United States, United Kingdom, Canada, Singapore, and the following European countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland.
How to set up a Coinbase account?
Our next thing which we want to discuss in our coinbase review is how to set up a coinbase account. If you are ready to buy Bitcoins or other currencies via Coinbase then you have to set up your account. Here is a step by step guide to set up your account:
For generating your account on Coinbase you require your name email id and the password.
#2.Type of account
After requesting for Coinbase you will be asked for determining your email address. After finishing all the formalities you will navigate to the startup page. Here you will get two types of accounts: One is for individual use and another for Business purpose so choose your desired account.
#3. Confirm your phone number
Then you have asked to confirm your phone number. The motive behind it is the two-factor identification for the hard security of your account.
#4. Set up payment mode
Coinbase allows it, users, to pay via both bank transfer and credit card. For confirming your account Coinbase requires one or two little transactions to and by your account. For confirming credit card method you have to show the screenshot of your credit card. When you payment through debit and credit cards it takes no time as this mode allows you instant transactions. Whereas bank transfers can consume two or three days to be completed. You can also attach your Paypal account.
#5 Purchase Digital Currency
Make sure you have funds in your account and after it you are ready to buy currencies. Before purchasing currency you must consider you are on the fair tab to buy the exact currency. Coinbase gives you the full information of service fees and the amount of cryptocurrency before verifying the transaction. After verifying the amount of the currency will be credited to the applicable wallet.
Is Coinbase safe?
Another hot issue which we want to cover in our coinbase review is the security of Coinbase. If you are a newbie and wanna adopt Coinbase then definitely this question will strike in your mind is it safe or not. In the past, there were some issues in the Coinbase.
But currently, Coinbase is the most secure platform to buy and sell cryptocurrencies. Coinbase is the US-based organization and in the US you have to follow tough rules and laws. Another factor is that many world-class financial organizations like Bank and Tokyo and BBA are investing in Coinbase.
Also, Coinbase offers its users two-factor identification for more security. One noticeable thing is that Coinbase doesn’t take any responsibility if your funds will be lost. So I will suggest you after buying cryptocurrency, you must store them in your offline wallet.
What User Says About Coinbase?
Although things are going in favor of Coinbase, few are reported their problems such as “Bank account attached to coinbase but not showing”, “funds being held for 12 days”, and “purchased coins and suddenly account got banned.” However, many are in favor of it – using it from around 3 years without facing any such issue. I recommend you to keep checking reddit thread for same.
As suggested in this video, Coinbase is 100% safe but if you don’t control private keys, you don’t control coin. Recently, lot of news coming out about hacking of coin and since, the users didn’t have their private keys to authorize coin, they lost their coins. To secure your coin anywhere on top crypto platform or coinbase, you must need to control your keys.
Coinbase Reddit Review:
It seems users on Reddit are happily talking about the coinbase, being the best buying selling platform of crypto coins. If you want to be updated abut user experience, you can check out and bookmark this page: https://www.reddit.com/r/Coinbase
Coinbase Customer support
Coinbase provides an FAQ page to its users and also permits customer support via email. There may be variation in the responding time because a large number of people have a request for their queries. Basically, they respond within 24-72 hours after requesting.
Transaction using Cryptocurrency
The user interface is very easy and you can store send and receive digital currency via Coinbase. For sending or storing crypto currency you just have to move to Send tab. Now select the account to which you want to send, insert the number of coins and the public key and click on send.
For receiving crypto currencies you need to move to your account. Now select the wallet from where you want to receive and click receive. After it you will get the account’s wallet address by which sender send digital currency.
Well….above I have mentioned Coinbase fees, signing up process and its functionality and now it is your turn to take the decision. I think our unbiased coinbase review will definitely assist you to go for the right one. Still, any query then comments below and if you want to know about any other crypto exchange platform then asks us. For more updates stay connected.