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Coinbase Crypto Exchange Review Australia 2021

Welcome to our Coinbase review Australia. For our readers looking for one of the best crypto exchanges in the game right now, you have come to the right place!

Our Coinbase review has found that the exchange broker offers an exceptional range of cryptos ranging from Bitcoin to DASH and so much more. Trading these cryptos on the platform is an absolute dream, as you won’t find many sites who do it better.

Pros & Cons of Coinbase
Pros & Cons of Coinbase
  • Paired with like-minded traders
  • Executing trades is hassle-free
  • Website is very easy to use
  • Doesn’t offer a live chat for customer support

Security, Usability, Look & Feel - A user-friendly design at Coinbase

When we conducted our Coinbase exchange review we found a platform that was easy to use, had a logical website layout and was easy on the eyes. As it is one of the largest crypto exchanges in the world we expected nothing less but a seamless experience on the platform.

Our Coinbase Australia review found that navigating between pages was easy as everything is easy to locate either in the menu at the top of the homepage or the menus at the footer of the page. Pages loaded quickly even when switching between constantly updating crypto price changes. We tested the quality of the mobile version of the app as well and found it to be more than acceptable. We even downloaded the official mobile app that is available for IOS and Android and found it to nothing short of excellent.

The security features on the site seemingly matched the quality of the look and feel as there are several different safety measures in place to protect user interests on the platform. There is a two-step verification process for users to employ and as well as a biometric fingerprint login to make sure logins, deposits and withdrawals are all well-protected.

How To Trade – Our short guide to Coinbase crypto trading

At this point in our Coinbase review, you may now be interested to get trading on the platform. Before you do that, you will need to open an account first and make your first deposit to become a Coinbase Australia customer. There are a couple of steps you need to complete in order to be a fully-fledged Coinbase account holder. You will need to provide Coinbase with proof of identity and a proof of residence as well. Then, choose a strong password that you won’t forget. If you were referred to the site this is where you will need to enter your Coinbase referral code.

Coinbase will then send you an email that you will need to verify. You will also have to verify your phone number straight after that as well. It’s a whole lot of verifying but it’s absolutely in your best interest. Now, you can start to add all your standard information like your name and surname. And then, you guessed it, a little more verification on the cards. You will need to go to the “I.D Verification” section after you have signed in to complete the last step of your verification. Once all of this is done, link a payment method to your account and make your first Coinbase deposit. And finally, you are now ready to get cracking with your trades on the Coinbase cryptocurrency exchange platform.

There is an easy to locate “Buy Crypto” button just above your portfolio balance which will take you to a page where you can enter the currency value and amount you are looking to buy/sell. Enter the amount you want to buy/sell and then execute the market order. This is where Coinbase put you into their system to try and pair you with other users on the site who fancy the value of your proposed trade. Coinbase fulfils the role of the middle man, putting users with similar crypto valuations together to complete trades. You can even check out some Coinbase how to trade pieces in their educational section to help you along.

Coinbase keeps things exceptionally simple for users. Trading on the site is a breeze and finding like-minded users is only made easy by the platform itself. Check out our Binance review to see how the trading on another brokers’ site matches up against Coinbase.

Payments - Payment options for Coinbase crypto trading

There are a couple of options for Australian residents to choose from when making a deposit or Coinbase withdrawal on the platform. Our Coinbase crypto review located the funding page and found that users can make deposits with fiat money and cryptocurrency. Users can make use of a debit/credit card for depositing fiat money and they can also deposit cryptocurrency by one of the numerous crypto payment networks available on the site.

Our Coinbase review couldn’t find any information on the site regarding a Coinbase minimum deposit but we imagine that’s because there isn’t one. Furthermore, the Coinbase withdrawal fees are quite straightforward as it is 3.99% for all transactions. This can be a little steep especially for users who deposit large amounts into their account. However, upgrading to Coinbase Pro will see most of these fees be significantly reduced. There also doesn’t seem to be much information on any Coinbase withdrawal limit on the site either.

Customer Service - Say hello to Ada, the Coinbase chat-bot

Our Coinbase crypto review found that the broker could stand to improve a little in the customer service department. What our Coinbase Australia review found was that they have a bot named Ada in place to take care of your more straightforward questions. This seems to try and replace the need for a live chat feature but to be honest, our Coinbase review is disappointed by the lack of the feature.

Coinbase users can also contact the support team through their email address, phone number or by their Twitter handle. Overall, we found the customer support team to be friendly and professional. We would like to see the inclusion of a live chat feature in the future though, as this is by far the best form of customer support in the industry.

License & Security - A fully-licensed and secure crypto exchange

One thing that is very common and that you should not concern yourself with all that much is that crypto exchange platforms are not regulated or licensed by your usual financial associations. This is because cryptocurrency is not recognised as legal tender like centralised fiat money is.

The security on the Coinbase crypto exchange platform is essentially as strong as you make it. There are two main security features available to users on the platform that will help to solidify the security of transactions and your sensitive data. These features include things like the two-step authentication process and a biometric fingerprint login. You further increase the security on your account by adding an identification verification step to your login and transactions too.

Our Coinbase cryptocurrency exchange review also found that the platform operates with the latest SSL encryption technology to further secure every page on the site. This includes your payment details and login details. So, is Coinbase safe? And are your funds secure? Coinbase makes your crypto even safer but continually keeping it in cold storage. This means it is kept off of the internet which makes it very difficult to be gotten to by any malicious hackers.

Reputation and Customer Feedback – Excellent Coinbase reviews

It is clear that Coinbase have slowly but surely built up a strong foundation of positive user reviews. These reviews generally point out how good the range of Coinbase markets are and how easy it is to execute trades on the site.

No online brokerage firm, crypto exchange or not, is going to only have positive reviews. After taking a closer look at some of the negative reviews we did find a few people who were displeased with the customer service on the site. Whether they are to be believed or not is up to you. However, our personal experience with the customer review was solid and did not warrant any negative outcry.

Coinbase Crypto

Cryptocurrencies - What to expect from Coinbase crypto trading

After checking out the site in more detail, we found that the Coinbase crypto exchange gives users an honestly staggering amount of different cryptos and altcoins to buy and sell on the platform. When taking a look at the Coinbase price page you will see 138 pages available with a total of 4,135 different assets to trade with.

It’s safe to say that you will more than likely find that obscure altcoin you were looking for and of course the popular cryptos too on the Coinbase crypto exchange platform. Our Coinbase exchange review found that you can still trade the higher value cryptos like Bitcoin, Tether, Ethereum, Litecoin, Chainlink. XRP and Cardano. These you will find in the top 10 in terms of the overall market cap.

The pricing page for all the available altcoins and cryptos, in general, is fantastic and easy to navigate and understand. The listing allows you to see exactly what each of these cryptos have done in terms of changes to pricing and percentages over the last 24-hours, the last week, the last month and even up to the last year. Any Coinbase Australian customer can buy these assets in A$ currency and can even buy some Australian Dollar Tokens which are based on the Ethereum blockchain.

Check out our Kraken review to see how Coinbase’s range of cryptos and altcoins stacks up against one of their main crypto exchange competitors.

Fees - Minimal fees across the Coinbase site

Our Coinbase review would not be complete without taking a good look at some of the fees users might encounter on the site. Our Coinbase Australia review found that the broker has a fairly complex list of how their trading fees work. You can expect to be charged 0.50% Coinbase trading fees on all individual transactions. That is at least a uniform fee throughout for Coinbase trading.

Where things get a little trickier is how much you are charged based on the size of your transaction. For example, if the total transaction amount is more than $25 but less than or equal to $50, the Coinbase trading fees are then A$1.99. There are a number of different brackets for your transaction amounts so our Coinbase review recommends checking out the pricing and fees page on the Coinbase crypto exchange platform.

Jurisdictions and Limits - No limits found in our Coinbase review for Australia

While the Coinbase crypto exchange may have originally started in the US, it has since spread its influence to over 30 different countries. Having such a global presence helps us to put to rest that any Coinbase scams are happening here.  Furthermore, with legal jurisdictions in over 30 different countries, we can safely say that a resident from down under can become a Coinbase Australia customer without any concerns for the legality of using the platform.

Just in case you were still worried about the state of Coinbase’s legal jurisdiction in Australia, a pop-up message will show on your screen when you try to create an account on the platform from a prohibited country. So, if you don’t receive this pop-up message then all systems are a go for you to start trading on the platform.

Overall Conclusion - A all-around quality crypto exchange

As we reach the end of our Coinbase review Australia it really feels more and more difficult to find something negative to say about the exchange broker. As we got further into our Coinbase crypto review we began to see just how safe and secure this broker is to use. And while you may not be able to trade Coinbase futures, the range of cryptocurrencies available on the site is staggering.

On top of all of this, the customer service was strong and the actual platform was even stronger. There is hardly any chink in the armour of the Coinbase platform. There is no doubt that Coinbase ranks us one of the best crypto exchanges in the world right now and it would be foolish of us not to recommend this broker to our readers.

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