The Coinbase was founded by Brian Armstrong in 2012, and by 2013 it has already been the largest cryptocurrency exchange in the world. Note also that the creator of Lightcoin Charlie Lee was the technical director of this platform.
In 2017, Coinbase exchange received an incredible addition of users, and now the average number of new arrivals is 1 million people per month, which is quite impressive. The exchange also has such popularity because more than 30 million users use it as an online purse to store their cryptocurrencies, and every day there are more of them.
In many Coinbase reviews you can find that the exchange is available to citizens of 32 countries: United States, United Kingdom, Canada, Singapore, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, and Switzerland. Residents of other countries can use the service only as an online wallet.
There are several languages that available on the site, which allows the exchange to attract even more users from all around the world.
Fees are very important for everyone who wants to trade on an exchange and this Coinbase review will tell you about them.
Commission on the exchange depends on your region and the selected option of operation and it varies from 1.49 to 3.99%. But all transfers between wallets inside the exchange have no Coinbase fees. The detailed information you can see in the table below.
Bitcoin, Ethereum, and Litecoin are available for trading on the exchange, and since 2018 Coinbase has announced support for Bitcoin Cash. Also, the exchange repeatedly mentioned that it will work with altcoins only after guaranteeing the safety of the work.
There are also some Coinbase limits. For residents of the US it is 50 thousand dollars and for European citizens 30 thousand euro weekly.
It should also be mentioned that Coinbase owns the GDAX exchange. So when creating an account on the first one, you automatically receive it on the second one with the same login data.
Is Coinbase safe?
Given the strong rise in the price of bitcoin, there was the Coinbase down period. But the administration assured users that there was any serious problem and they will fix everything in a few hours. Similar situations in the same period of time were observed in other exchanges that could not withstand the flow of new users.
Is Coinbase legit? It is regulated company and licensed in all areas where it operates. It is supported by large American investors and there is no Coinbase fraud.
So is Coinbase safe? Let’s lookout. To ensure complete security, the exchange provides for two-factor authentication, for which we will need a mobile application. Also, the site uses the most reliable system of cold storage of assets for 98% of investments. The site provides a function to track the history of the logins, their time and IP.
How to use Coinbase? The registration doesn’t differ from similar platforms. We need to fill in the data, put the necessary marks, and confirm with the e-mail.
After that, if you are not going to use the exchange only as a purse, you need to go through verification and confirm your identity. To do this, you will need to specify the place of the work and place of the residence, for the residents of the US the last 4 digits of the Social Security Number. And also you will be asked to indicate the source of money with which you are going to work, for example, mining, earnings or investments.
In order to enter or withdraw money on bank cards or the PayPal system, you will need to bind them to your profile, and then also verify them.
For all of its existence, the exchange has received investments for an impressive amount of more than $ 1 billion. Let’s sum up, were they used for good or were there the Coinbase scam?
It was Coinbase review 2018, and what is the conclusion? The exchange is legit; it is well secured and easy to work with. But anonymity is the main principle of bitcoin and many users need it. Coinbase works with FBI and gives them all the information.
Also, today there are too many bad comments from users. They tell us about blocked accounts, ignored questions, unconfirmed transactions or lost money. It might happen because of plenty of users. But if you have read them and now you don’t trust this exchange, you always can find Coinbase alternative on this site.
- Deposit insurance;
- There is a very convenient cryptocurrency wallet;
- The availability of mobile applications for iPhone and Android for the wallet;
- Profitable referral program;
- The exchange operates only in countries that do not prohibit the cryptocurrency of the law, which at one point excludes the fact of its sale from any local market.
- If you suspect that your account was hacked, Coinbase phone number is available for you in 24/5 mode.
- Coinbase support allows you not to answer questions for a long time (it is more likely due to colossal employment) of the company's employees because of the "influx" of new customers and problems;
- It is difficult to pass verification, which reveals every client as a person (the main advantage of cryptocurrency is anonymity);
- Coinbase tracks all your activity and it will ban you from making some transfers (transactions related to adult services, bitcoin gambling, trading contraband through darknet markets, reselling coins on other exchanges, especially without AML / KYC)