Coinbase
- Overview
- Security
- User Experience
Volume 24H: N
Coinbase is among the best-known exchanges for buying, selling, transferring, and storing cryptocurrency. It is live in 32 countries, offers access to all the top digital coins, and high liquidity. Aside from the exchange, Coinbase offers other products like GDAX for traders and services for merchants and developers. Along with the web app, there is a mobile app for iOS and Android.
Coinbase has a simple interface, user experience is smooth, and the design is modern. As a US-based firm, it must comply with stringent KYC/AML laws. Coinbase is a great beginner option for buying cryptocurrency. The exchange does not currently offer selling of digital coins in Canada and Australia. Even though there is an active support team, many users are dissatisfied with the service.
Crypto Currencies Support
- BCH
- BTC
- ETC
- ETH
- LTC
Traditional Currency Support
- CAD
- EUR
- USD
Language Support
- Dutch
- English
- French
- German
- Indonesian
- Italian
- Spanish
Country Support
- Australia
- Canada
- European Union
- Jersey
- Liechtenstein
- Most of Eastern European Union
- Norway
- Singapore
- Switzerland
- United Kingdom of Great Britain and Northern Ireland
- United States of America
Platforms Systems
- — Api
- — Mobile App
- — Web Interface
Stock Market Options
Coinbase offers security features like 2FA, and store wallets using AES-256 encryption and encrypted SSL. They keep 98% of customer assets in cold storage and use IP login activity verification. Users may create two types of wallets: normal and vault. The multisig vault which is more secure is no longer available. They do criminal background checks on all their employees and hash all passwords.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Fdic Insurance Up To 250 000 Applys To Fiat Currencies Only, Atleast 80 Of Funds Are Kept With A Registeredcustodian |
| Private Keys Stored On | Exchange Platform |
| Storage Type | User Funds 80 Are Held In Cold Storage With A Registeredcustodian |
The Coinbase exchange is a project of Coinbase UK, Ltd, a company incorporated in the UK. The firm is a mid-size crypto startup currently based in San Francisco, USA and known as the first"unicorn" in the digital currency market. It was created in 2012 by Brian Armstrong (acting CEO) and Fred Ehrsam. The founders have managed to raise over $177 million in funding from world leading investors.
Summary:
Coinbase offers a wallet, an exchange, and merchant services within one easy-to-use interface. Many applications are also being built using their API. The exchange allows users from 32 countries to buy and sell some of the most popular cryptocurrencies and has many sought-after features. Their security is good and the UI is great for beginners, but it monitors accounts and support is not great.
| Ease of use | Intuitive |
| Transaction Fees | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Bank Transfer | 1.1+ |
| Deposit/Withdrawal Fee For Credit Card | 1.1+ |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | 3,99% |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Deposit using credit card, Deposit using 3rd party, Withdrawl funds to bank account, Withdrawal funds to credit card, Withdrawal funds through a third party
Functionality:
Coinbase provides users with many interesting features like weekly buy and sell limits on all accounts, different payment methods (bank transfer, credit/debit card, wire transfer), and an instant buy/sell option using your credit card as backup. Fees and availability for buying, selling, depositing, and withdrawing supported digital coins depends on the cryptocurrency, country, and payment method.
Most common customer complaint:
— Forcible account closures, GDAX bugs and outages, poor customer support