Coinbase Review 2020
Coinbase is a digital currency wallet and trading platform where merchants and consumers can transact digital currencies, such as Bitcoin, Etherum, and Litecoin. The exchange provides clients with a good selection of educational materials and the easy-to-use Coinbase mobile trading app.
Coinbase Review 2020, Pros & Cons
- Flexible & sophisticated trading platforms
- Dedicated customer service team
- Useful trading tools such as the Coinbase Pro API
- A selection of educational materials
- Not regulated
- Cryptocurrency trading only
- No MetaTrader platforms
- No online chat support
In this detailed Coinbase review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Coinbase is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Coinbase
Coinbase Review: Summary
Founded in June 2012, Coinbase is a digital currency wallet and trading platform that is based in San Francisco, California. It gives merchants and consumers access to transact with cryptocurrencies such as Bitcoin, Etherum, and Litecoin. Coinbase has over 160 billion dollars traded by over 30 million users globally. They also provide traders with a good selection of educational materials and their website is available in over 10 languages.
Coinbase makes cryptocurrency easy to use, as they strive to be the trusted brand in the crypto industry. They have built one of the world’s leading trading platforms for digital currency integration and provide clients with the Coinbase Mobile App, as well as a 24/7 live customer support.
Coinbase Review: Regulation
Coinbase is currently not regulated. Cryptocurrency regulation varies greatly from country to country. Some governments are so welcoming of cryptocurrency that they have been regarded as a legal tender, whereas others have gone as far as to outrightly ban the use of cryptos.
Most experts and professionals would not trade with an unregulated exchange broker as they cannot offer investors the same protections that a regulated exchange. So, be cautious when using this exchange.
Coinbase Review: Countries
Coinbase services are available in over 100 countries across several continents, including North America, South America, Europe, Asia, Australia, and Africa. However, the exchange states that its website is not directed at jurisdictions where its services will be contrary to local laws.
Some Coinbase features and products mentioned within this Coinbase review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Coinbase Review: Trading Platforms
Coinbase Mobile App
The exchange provides clients with the Coinbase mobile app which is available on iOS and Android devices. The Coinbase iOS app is available in the app store for iPhone, while the Android app is available in the Google Play store. The mobile app enables clients to trade cryptocurrency anytime and from anywhere in the world provided there is an internet connection.
This is a secure and insurance backed platform that offers individual traders the ability to trade a variety of digital assets. It is available as a mobile app for Android and iOS devices, making it easy for clients to trade cryptos on their smartphones.
Coinbase Pro offers an intuitive interface with real-time order books, charting tools, trade history, and a simple order process so you can trade with ease from day one. The app is built for advanced crypto traders with all the necessary info and tools to trade on the go. These include:
- Real-time candlestick chart and order book
- Limit and market orders
- Advanced order form and portfolio overview
This is the Coinbase’s professional trading platform that is designed specifically for institutional clients. It gives them access to diversified liquidity pools underpinning all Coinbase products.
Coinbase Review: Trading Tools
Coinbase Pro API
The exchange provides traders with the Coinbase API, which makes it easy to integrate Bitcoin, Bitcoin Cash, Litecoin, and Ethereum into both new and existing applications. Coinbase Pro’s fully featured trading API offers an efficient way for developers to build digital asset trading applications and to offer related functionality.
You can build tools to track the market, view your trading history, monitor open orders, and more. It gives safe, secure, and reliable access to a U.S-based Bitcoin exchange. The Coinbase API allows developers to use the OAuth2 protocol to enable a Coinbase user to grant a 3rd party application full or partial access to his/her account, without sharing the account’s API key or login credentials.
It is a slightly more complex integration than the API Key authentication method, but it is more flexible. OAuth2 works well for web applications, as well as desktop and mobile apps. Coinbase’s APIs enable a variety of capabilities: from simply gathering read-only data, to building something that’s never been done before.
The Coinbase API has the following features:
- Generate bitcoin, bitcoin cash, litecoin, and ethereum wallets and addresses
- Buy/sell and send/receive bitcoin, bitcoin cash, litecoin, and ethereum
- Securely store the coins with the exchange
- Retrieve real-time or historical price information
- Receive notifications when payments arrive
Coinbase Review: Education
The Coinbase website has a well-established blog that contains a good selection of trading articles, which help to improve the overall trading skills and knowledge of traders of all experience levels.
The ’Learn’ section of the Coinbase website has a good range of educational articles covering various topics, such as how to buy Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP, EOS, Tezos, Stellar, Etherum Classic, Chainlink, Augur, Algorand, Dash, Basic Attention Token, USD Coin and much more.
There is also the Frequently Asked Questions (FAQ) section on the website with answers to some common questions that clients may have.
Coinbase Review: Trading Instruments
The following cryptocurrencies are available for trading: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP, EOS, Tezos, Stellar, Etherum Classic, Chainlink, Augur, Algorand, Dash, Basic Attention Token, USD Coin, and many others. Coinbase provides varying levels of support for different cryptocurrencies. The availability for buying, selling, depositing, and withdrawing supported cryptocurrencies varies by cryptocurrency. Transaction fees and availability also depend on your country and payment method.
Coinbase Review: Trading Accounts & Fees
To use the Coinbase Services, you will need to register for a Coinbase account by providing your name, email address, and password and accepting the terms of their agreement. The exchange provides clients with a variety of different account types which depends on the preferred trading platform, and they include Coinbase, Coinbase PRO, and Coinbase Prime Accounts. The Coinbase Pro Accounts is designed for individual traders, whereas the Coinbase Prime is designed specifically for advanced institutional traders.
As broker fees can vary and change, there may be additional fees that are not listed in this Coinbase review. It is imperative to ensure that you check and understand all of the latest information before you open a Coinbase broker account for online trading.
Coinbase Review: Customer Service
The broker provides clients with a knowledgeable customer service team. They can be reached via telephone, email, and online live chat. Alternatively, you can fill the form on the website and a customer support representative will respond swiftly. The exchange is also available on social media handles, such as Twitter and Facebook.
Coinbase Review: Deposit & Withdrawal
Coinbase allows traders to deposit funds directly into their wallets using the Coinbase Commerce. Coinbase Commerce is a platform that helps merchants anywhere in the world accept cryptocurrency payments in a fully decentralized way.
You can fund your Coinbase Commerce account using cryptocurrency, bank transfer, credit/debit card, or PayPal if you are in Europe or the US. No fees are charged to use Coinbase Commerce, however, you will need to pay a network fee to cryptocurrency miners and third part processors may also charge additional fees.
To withdraw your funds, log into your Coinbase Commerce account and click on a ’Withdraw’ button next to the relevant cryptocurrency in the ’Balances’ section. A modal will pop up with the ability to specify how much you would like to withdraw and where you would like these funds to go.
Coinbase Review: Account Opening
Opening a Coinbase account is simple and quick. You can click on the ’sign up’ button on the Coinbase website and fill out the form accordingly. You only need an email address and you don’t require any documentation.
Next, confirm your email address and start trading when you feel ready to do so. By using a Coinbase Account, you agree that you will use the Coinbase services only for yourself and not on behalf of any third party unless you have obtained prior approval from Coinbase in accordance with Section 3.2 and 4.10 of their Agreement. You are fully responsible for all activity that occurs under your Coinbase Account.
The exchange may, in their sole discretion, refuse to open a Coinbase Account for you or limit the number of Coinbase Accounts that you may hold or suspend or terminate any of your Coinbase accounts or the trading of specific Digital Currency in your account.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Coinbase Review: Conclusion
Based in San Francisco, California, Coinbase is an online trading exchange that has been in operation since 2012. It gives merchants and consumers access to transact with digital currencies like Bitcoin, Etherum, and Litecoin. It has over 160 billion dollars traded by over 30 million users globally. The Coinbase website is available in over 10 languages, and it provides traders with a good selection of educational materials. The exchange offers multiple intuitive trading platforms and API trading tool, as well as 24/7 customer support. However, the broker is not regulated in any jurisdiction.
You should be aware that the risk of loss in trading or holding Digital Currencies can be substantial. As with any asset, the value of Digital Currencies can go up or down and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies. You should carefully consider whether trading or holding Digital Currencies is suitable for you in light of your financial condition.