Welcome to our Coinbase review. We think that the Coinbase cryptocurrency trading platform offers you an easy way to buy and sell BTC, ETC and much more.
Everything about the Coinbase crypto exchange is designed with the user in mind. We found it so simple to browse the Coinbase markets and make an informed decision about which crypto to invest in. Plus our Coinbase India review found that this site has very competitive trading fees.
Coinbase: Pros & Cons
- Great trades on BTC, ETH and more
- $455 billion traded on trustworthy crypto exchange
- Special offer gives you $40 in cryptos to play with
- User-friendly website and trading apps
- Can’t buy and sell XRP, Cardano or Tether
The sheer size of Coinbase means that it’s a site that can be trusted. After all, it has a total volume traded that’s in excess of $455 billion. In addition to this, it’s worth remembering that there are 43 million users across 100 different countries which is a testament to the global success of Coinbase.
Such size will always bring Coinbase plenty of unwanted attention in the form of hacking attempts. There was an attempted hack of more than $280,000 in Bitcoin transactions in the form of a Twitter scam in July 2020, but Coinbase managed to halt any fraudulent transactions going through.
Such security considerations can be seen all over the Coinbase site. There are a variety of helpful features like vault protection that allows you to keep your funds in a Coinbase vault that has time-delayed withdrawals. Alongside standard security features like two-step authentication, all account numbers are stored using bank level AES-256 encryption.
Above all, Coinbase is a professional trading site that always puts its customer security first. Even the basic site design keeps everything uncluttered and easy to read. While it might be lacking a little in personality, it shouldn’t stop you from concentrating on your crypto trades.
How to Trade – A quick Coinbase how to trade guide
Coinbase gives you a quick and easy way to get started with your crypto trading. The first thing that you will need to do is to click on the Get Started button at the top of the Coinbase site. This will bring up a screen that allows you to create your account. To do this you will be required to provide some personal information like your name, email address and you’ll also be asked to create a password. Don’t forget to enter in a Coinbase referral code here if you have one.
Once you have successfully verified your login, you’ll be ready to add some money to your account. There might not be the provision to make deposits with Indian rupees at Coinbase, so you may have to deposit with an alternative currency such as US dollars or euros. Most people will choose to deposit either with a card or via a bank transfer.
After you have added some funds to your account, you will simply be able to the main Coinbase Price page. This shows all of the trading prices on the accepted cryptos along with the Coinbase futures. Just don’t forget to check our Wazirx review to see how the prices compare.
You’ll have to make a deposit to start crypto trading at Coinbase. The brand provides a range of accepted deposit methods that are dependent upon the country in which you are based. You’ll be recommended to make a bank transfer for most large deposits investments, although many people will simply use a debit card for small investments. The Coinbase minimum deposit amount will depend on which payment method you use.
All of the above payment methods can be used to make a withdrawal from Coinbase. However, it’s important to note that you might also be able to make a withdrawal via the PayPal ewallet. We should note that there are also fees for making a Coinbase withdrawal that go up to 1.5% for any transaction. These Coinbase withdrawal fees also include a minimum fee of $0.55.
Bear in mind that there may be a Coinbase withdrawal limit of $25,000 per day, although this limit may rise the longer that you stay at the site. All of the deposit and withdrawal times will vary according to the payment method used. But most payments should normally be processed by Coinbase between two and three business days.
There might come a time when you need to get some help with your trading. The good news is that Coinbase hosts an effective customer support service. You’ll see a help icon in the bottom right of the website. Clicking on this will bring up Ada, the Coinbase support bot. This means that you can simply type in your problem, and then hope that Ada will be able to resolve your issue. You also get the option of simply typing in your query into the contact form on the Contact Us page.
If you need to actually speak to a human, then you’ll be pleased to see that Coinbase hosts a telephone customer support number. Bear in mind that these numbers are either in the UK, Australia or the US. If you use the international number, you’ll be directed to the US and will run up some fairly large telephone bills. We should note the fact that Coinbase has an extensive help section on its site that provides you with a wealth of information about crypto trading and beyond.
Just because Coinbase is one of the largest crypto exchanges doesn’t necessarily mean that you should let your guard down at this site. After all, there are a fair amount of exchanges out there that offer their customers a less than satisfactory service.
So we were glad to see that Coinbase is fully regulated in all of its main countries of operation. It’s always relieving to see that a crypto exchange has regulation from a major authority like the UK Financial Conduct Authority and that it’s registered as a Money Services Business with FinCEN in the USA.
India has yet to implement any regulatory framework for legislating the use of crypto exchanges like Coinbase. But with the above regulation and the aforementioned SSL level encryption, you should feel perfectly secure when you trade at this reputable crypto exchange.
Reputation and Customer Feedback – Are there any Coinbase scams?
The prevailing attitude across the internet is that Coinbase is a legitimate cryptocurrency exchange. If you browse a few customer reviews, you’ll see that the majority of customers commend the fast verification process, and the ease with which they make their withdrawals.
Obviously, as Coinbase is a large brand, it will always attract a few negative reviews. To be honest, most of these seemed to be poorly written and weren’t necessarily trustworthy. But if you look at most authoritative crypto exchange reviews like our own, you’ll find that most of these have very few problems with the way that Coinbase operates.
We think that Coinbase is easily one of the best crypto exchanges you’re going to come across. After all, this site is safe, secure and it gives you an easy way to buy and sell many of the biggest cryptocurrencies. With responsive customer support, a quick and simple deposit and withdrawal process and some relatively low trading fees, we think that Coinbase represents a good option for anybody wishing to get started with their crypto trades.
However, there were a few things that Coinbase could work on if it wants to attract more customers in India. While there is a small provision towards Indian customers, we would have liked to have seen more of an effort made to let you deposit and withdraw in Indian rupees. Plus we were surprised to see that Coinbase doesn’t let you trade some of the biggest cryptos like XRP, Cardano and so on.
But on the whole, we think that Coinbase has most things that you should be looking for in a crypto exchange. So be sure to sign up this site and see where your crypto trades take you.