Coinbase Exchange: A Complete Overview

Coinbase is an established company in buying and selling Bitcoin and other cryptocurrencies and is committed to complying with the laws of the countries where it offers its services. Investing in cryptocurrencies may not guarantee immediate returns, but with Coinbase exchange you can rest assured you’re getting the best information possible. It must be taken into account that this is not a trading platform, but a site where currency purchases are made. Let’s take a closer look at the important aspects and characteristics of this Coinbase review.

Founded in 2012, Coinbase exchange has grown very quickly in the US, where it reached one million customers in 2014. Today it has more than 68 million verified users. Buying and selling cryptocurrencies has always caused different opinions. Coinbase has been in the spotlight due to extreme volatility, as well as the lack of regulation for this type of transaction. In 2018, the platform launched Coinbase Custody, a deposit monitoring and surveillance service that offers extensive guarantees to customers.

When you visit the Coinbase website, you will see that the offers for buying and selling cryptocurrency are very wide. Besides Bitcoin, Ethereum and Litecoin, it has many other cryptocurrencies in its portfolio. This makes it a little more difficult to decide which cryptocurrency to invest in using the exchange Coinbase, so some prior knowledge is required to avoid getting carried away by trends that overwhelmingly mask speculative market moves. The tips and tutorials offered by the platform are sure to be a good start.

Coinbase Wallet: Features and Security

Coinbase operates as a virtual cryptocurrency wallet and a trading platform for purchasing cryptocurrencies. Charts and updates allow you to follow the development of the Coinbase prices of the coins you have invested in and that are available in your portfolio, as well as be able to compare trends with others in the market. For transactions, you will need to link a payment method. There are opinions that Coinbase exchange doesn’t offer much flexibility when it comes to payments, the truth is that the PayPal wallet is ideal for these types of transactions.

Coinbase has one of the best fee systems. The commission increases depending on the volume of transactions and the instruments used. For example, if you want to buy Bitcoin using a debit card, the fee will be 3.99% because the variable percentage fee is higher than the fixed percentage fee.

• Standard commission limits for buying and selling cryptocurrency are $10, $25, $50, and $200. For amounts exceeding this amount, the commission is calculated individually. 
• The conversion fee is set at 2% of the amount. Countries such as the USA, Canada, Chile and Mexico have different conditions than Europe.

Advantages

Disadvantages

Coinbase allows you to trade a wide range of cryptocurrencies;It has an e-wallet and a virtual Coinbase card, both free;The registration and verification process on the platform is convenient, fast and simple;All assets are stored offline;It guarantees the safety of user assets;The exchange Coinbase offers comprehensive solutions for individuals, companies and developers;It has a powerful analytical base and unique teaching aids.

There are no options for passive earnings;Some information on the Coinbase website is available only in English.

Deposit transfers to Coinbase have no fees, although withdrawals only cost $ 0.15.

On the Coinbase exchange platform, transaction fees are 1.49% for currency purchases. Foreign exchange fees range from 25% to 100% basis points depending on the transaction volume and other characteristics of the entire exchange. Transferring your assets to other virtual wallets is carried out without commission.

Before depositing money, the company will ask you to verify your identity by uploading necessary documents such as an ID card or passport, which is a common security practice to confirm that you are over 18 years old. You will also need to verify your phone number. 

The website is encrypted using SSL technology and you can set up a two-factor authentication system to ensure that anyone who wants to access your account has access to an authentication tool in addition to your password. Today, it’s quite common to have transactions and communications online that need to be protected, and opinions on Coinbase’s security in this regard are very positive.

As for the company’s servers, it has AES 256 encryption, which is usually used by the most secure companies, such as banks. To improve security and due to the attacks that have occurred on this type of mobile phone-based systems, Coinbase is currently working with the Google Authenticator system, Duo or Microsoft Authenticator or any other application that works with the One system Temporary password (OTP).

With the growing interest in Bitcoin and other cryptocurrencies, it is becoming increasingly difficult to find support that will provide efficient service. Coinbase Exchange has a help center with extensive information on all services and features of the website. Here you can find a solution to almost any issue. 

• Telephone services and online support can be reserved for more complex issues. Support agents will be happy to solve even the simplest questions. 
• Online chat is the fastest and safest way to contact the platform. 
• Although, like many things, Coinbase uses automated bots, so you’ll have to go through a series of filters first before you can talk to a real person. These services are currently only available in English. 
• Phone support should be used if you need to delete your account if you suspect it has been compromised.

The Coinbase mobile app is the best way to trade cryptocurrencies easily and securely. User ratings and opinions confirm this. Downloading is very easy for iOS and Android. The free downloadable Coinbase app gives you the convenience of following market trends and staying on top of how your assets are performing, no matter where you are. These mobile applications are essential for any trader today. Security and facial verification systems, such as the app for iOS phones, ensure secure transactions with payment processors linked to your Coinbase wallet. 

The Coinbase exchange affiliate program is different from similar programs offered by most platforms. The invitation is also carried out via a referral link. But in the case of Coinbase, payments are one-time and go to both the guest and the inviter. It works like this:

• You need to copy your link and transfer it to another user;
• If a user makes transactions over $100 within 180 days of registration, both will receive $10 in their accounts;
• You can only receive a bonus from a new user, and all information about referrals is displayed in reports sent to your account.

You don’t need to be an expert to know how to use the exchange Coinbase. The platform is easy to use, making it accessible to all types of clients.

1. Select cryptocurrency;
2. Click “Buy”;
3. Enter the purchase amount;
4. Coinbase will switch to digital currency and specify transaction fees.