Everything you need to know about Coinbase

With over 13.3 million users, Coinbase is considered as one of the most popular crypto exchanges in the market. It’s fast, reliable, and caters to a lot of cryptocurrencies that users find appealing. Coinbase is a leading virtual currency platform located in California. Currently, this amazing exchange is available in 190 countries.

Founded by Brian Armstrong and Fred Ehrsam, Coinbase has been providing service for crypto enthusiasts since 2012. The initial service of the platform was for buying and selling Bitcoins through bank transfers. In addition, Coinbase expanded and partnered with companies such as Overstock, Dell, Expedia, Dish Network, and Time Inc. Payment companies such as Stripe, Braintree, and Paypal also partnered with the exchange.

Coinbase has two main products: a broker exchange and GDAX, a trading platform. It’s also a convenient exchange because it has a built-in wallet that you can use. However, the Coinbase wallet is integrated into the web so make sure that you only store small amounts of your cryptos. Aside from its nifty features, it is also an ideal exchange for traders because it offers a wide range of digital assets. Here some of them:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • XRP (XRP)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • Bitcoin Satoshi’s Vision (BSV) (Send Only)
  • Litecoin (LTC)
  • EOS (EOS)
  • Tezos (XTZ)
  • Stellar Lumens (XLM)
  • USD Coin (USDC)
  • Cosmos (ATOM)
  • Dash (DASH)
  • Ethereum Classic (ETC)
  • Zcash (ZEC)
  • Maker (MKR)
  • Compound (COMP)
  • Basic Attention Token (BAT)
  • Algorand (ALGO)
  • OMG Network (OMG)
  • Dai (DAI)
  • 0x (ZRX)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • Augur (REP)
  • Orchid (OXT).

Upgrade your crypto experience with Coinbase Pro

The basic version of Coinbase is already amazing. However, going pro offers more amped-up services and features that help you navigate the digital world with ease. Coinbase Pro is a top-notch upgrade that offers a more robust and exciting trading experience. Using the basic version has slightly more expensive fees. With the pro, you can do your transactions for less. There is also a margin trading feature for traders.

Coinbase Pro also has great visuals of the charts. It has line charts that can be accessed with overlays for efficiency. At the moment, the EMA (12) and EMA (26) are the two overlays available in the pro version.

Coinbase News 1

Exciting features of Coinbase

Here’s a quick overview of Coinbase’s exciting features and why crypto users love it.

It only features reliable digital assets

Unlike other exchanges, Coinbase is careful when it comes to the digital coins it offers. The company carefully tracks the progress of each cryptocurrency. Metrics such as trading volume, equity, and market capitalization are factors they consider before adding coins in their list.

User-friendly interface

Another feature of Coinbase is its intuitive interface, making it easy for beginners to utilise the features. Additionally, everything you will need is displayed in an organized manner so you won’t spend too much time navigating their page.

Moreover, beginners in crypto can easily shift to using GDAX if they want to try their hand at trading and access more cryptocurrencies available on Coinbase!

It’s open to fiat currencies

Coinbase may be a platform for digital currencies, but it also accepts a competitive number of fiat currencies. If you want to buy cryptocurrencies, you can easily do so by using regular money. No need to visit the bank just to settle your transactions. Coinbase accepts bank transfers, debit and credit cards, Paypal, and SEPA payments.

It has an ‘Instant Exchange’ feature

You can send money in Bitcoin using fiat money with Coinbase’s ‘Instant Exchange’ feature. This allows you to settle your funds into one seamless transaction without the hassle. Additionally, there are no extra fees to avail of this service.

You can upgrade to GDAX for free

If you’re a regular buyer and seller of cryptos, upgrading to GDAX is a good option. Through this feature, you can seamlessly transfer your cryptos. Additionally, it offers a wide selection of digital assets to choose from. Just read the policies from Coinbase to have a full grasp of how GDAX works.

The site is secure

Coinbase has one of the safest wallets that you can use for your funds. To add extra security for their clients’ money, Coinbase stores almost 99% of their assets in an offline cold wallet. These funds are insured and cannot be hacked by internet crooks. Additionally, only 1% of the total assets can be accessed through the web wallet.

If you ever lose your funds, Coinbase will refund you. To ensure extra protection, the company doesn’t allow anonymous users. If users want to access Coinbase services, they have to submit government-issued ids and undergo various authentication processes.

Coinbase features over 40 licences that allow it to operate within the United States. In addition, it also has a licence in 31 different countries.

Downsides of using Coinbase

Using Coinbase also has its downsides. If you’re planning to use it, you should also be aware of its limitations so you can make well-informed decisions when it comes to managing your funds. Here are some things you should watch out for:

You can’t use the site anonymously

While this feature adds security to their clients’ funds, some people think that Coinbase’s lack of anonymity beats the purpose of decentralization. If you prioritize staying under the radar, you should know that Coinbase keeps a record of their users, and crypto-assets are regularly tracked.

They have relatively high fees

Compared to other exchanges, Coinbase incurs relatively high transaction fees. The cost depends on what payment method you will use. However, you can eliminate this by shifting to Coinbase Pro.

There’s a limit to the transactions you can make

Coinbase sets a limit on how much you can spend and do with your transactions. According to the site, they imposed these restrictions to ensure fraud prevention and comply with regulations. Metrics that affect your account’s limitation are types of payment method, how old your account is, and your purchase history.

However, there are ways that you can do to improve your account’s limits. Adding your phone number, personal information, and id picture can increase your account’s limit.

Overall, these downsides do not affect Coinbase’s performance and reliability as an exchange. Just do your research and read through their policies to make sure you’re not missing out on anything.

Create your Coinbase account now! Here’s how:

Investing in cryptocurrency is like investing with real money. That’s why you need to make sure that you’re keeping your eggs in a safe basket. While there are reliable exchanges in the market, Coinbase is by far your best bet, especially if you’re a newbie in the crypto sphere. Fortunately, it won’t take long to create an account. Here are a few easy steps to get started with Coinbase:

Step 1: Go to and click the sign-up button located in the upper right corner of the page. Once you’ve done this, read through the ‘User Agreement and Privacy Policy’. After this, fill out the information boxes. Make sure that the details you put are accurate and updated.
Once done, click the ‘User Agreement and Privacy Policy’ then click create an account. You will instantly be redirected to a confirmation page to verify your account.

Step 2: You will receive a confirmation link in your email. Open this, then you will be redirected back to your verified Coinbase account. If you don’t receive a confirmation email, check your spam or junk folder.

Step 3: Once your account has been verified, it’s now time to set up your account. Start by identifying your account type. If you made an account for personal use, click the ‘Individual’ option. Otherwise, you can select the ‘Business’ option.

Step 4: Fill out the phone number section. Make sure that the number you input is working and updated because you will need this for logging in and transactions

Step 5: Select a payment option. You can do this by linking your bank account, debit, or credit card for your transactions. Just make sure that you don’t use your main account for extra safety.

Be reminded that your identification is required before you can complete this section. You can either use your passport, driver’s license, or photo ID for this step. You will be redirected to a page where you will have different options on how to upload your ids. Once verified, you can now select the payment mode you want. Keep in mind that completing these requirements will increase your account limit.

If you’re using a bank account, you will receive two charges under the ‘Pending transactions’ section. Complete this step by determining the last two digits of the charges. Once done, click the ‘Verify Charge Numbers’. You can now start using your Coinbase account!

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