As a publicly traded company on the Nasdaq, it operates under strict regulatory oversight and maintains high standards of transparency. The platform’s selection as a custodian for many billion dollar spot bitcoin ETFs further underscores its reliability. Coinbase implements robust security measures, including cold storage for the majority of user assets and two-factor authentication for accounts. However, like any financial platform, it’s not without risks, and users should always exercise caution and follow best practices for cryptocurrency security.
Supported Crypto & Trading Pairs
In addition to an online help centre and chat system, Coinbase also offers live phone support, a feature conspicuously absent from many cryptocurrency exchanges. U.S.-based investors are best off with Coinbase, as Crypto.com limits them to its mobile app, which doesn’t include margin trading, staking, or advanced trading features and tools. Sophisticated investors can unlock customizable charts, market orders, and more with Coinbase Advanced and Private Client services. Kraken may be better suited for beginners and intermediate investors interested in learning the ropes. Its interface is more intuitive and beginner-friendly than Coinbase’s. Plus, it offers strong customer support across the entire platform (with Coinbase, you need a One membership for priority support).
Funding your account
Rating sites aside, Coinbase also has a bad reputation with consumer regulatory bodies. Thousands of grievances were brought to the Consumer Financial Coinbase Review Protection Bureau by Coinbase users. Also, the Commodity Futures Trading Commission fined Coinbase more than $6 million in civil penalties.
Coinbase Security Measures
Withdrawal fees vary depending on the cryptocurrency and destination wallet, with adjustments made to cover network transaction costs. However, for small traders or investors, Coinbase’s charges may be considered expensive. Whenever you trade on the platform, you’ll encounter a spread of approximately 0.50%. Transaction fees range from 0.05% to 0.6%, depending on various factors such as order type, trading pair, currency pricing tier and payment method. Coinbase may charge either a flat fee or a percentage fee for transactions, depending on the region and transaction amount.
Coinbase Pros and Cons
Coinbase supports close more than 200 digital assets available for depositing, buying, selling, and withdrawing. How each user can interact with any asset largely depends on their location and, to a lesser extent, Coinbase’s infrastructure supporting the asset. Recognized cryptocurrency broker and exchange Coinbase first debuted over a decade ago. The most significant player back then was the infamous MtGox Bitcoin exchange.
- However, users interested in investing in these coins can still trade them on the Coinbase exchange.
- In March 2023, the SEC issued Coinbase a Wells notice, signaling its intention to take enforcement action against the company for suspected violations of securities laws.
- Coinbase offers a simple entryway to the crypto market suitable for new and experienced traders.
- If you believe your account has been hacked, contact Coinbase Support immediately to have it disabled.
- Compared to the old Pro platform, Advanced Trade has more market pairs, a TradingView integration, and better staking rewards.
The recently announced Coinbase Card allows Coinbase customers based in the UK to easily spend cryptocurrencies both in-store and online. The wallet is secured as users’ keys are protected with Secure Enclave and biometric authentication technology, and each users is in sole ownership of (and has sole knowledge of and access to) their private keys. The Coinbase Wallet is a user controlled non-custodial digital currency wallet and decentralized app (dApp) browser. Verified users are able to earn crypto by completing a series of educational tasks such as watching videos, and filling out quizzes, and the initiative is open to eligible individuals located across the globe. All Coinbase customers automatically have an account on Coinbase Pro, you login with the same credentials as you would on the Coinbase website. You can find out more about the two exchanges in our Coinbase vs GDAX comparison post.
Overall, Coinbase’s wallet is a great feature for first-time investors. Before you can even get started trading on Coinbase, you have to go through the rigorous verification process (which usually involves providing proof of identification). The reason for this is Coinbase’s commitment to certifications and compliance with regulations and insurers.
The Coinbase Card is a Visa debit card that gives users crypto rewards on certain purchases. First, we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site.