Coinbase is a leading digital currency wallet and trading platform where merchants and consumers can transact digital currencies, such as Bitcoin, Ethereum, and Litecoin. The exchange provides clients with the easy-to-use Coinbase mobile trading app and a generous selection of educational materials to help you learn more about cryptocurrencies.
Pros / Cons
- Easy to use trading platforms
- Great selection of Cryptocurrencies
- Useful trading tools such as the Coinbase Pro API
- A selection of educational materials
- Dedicated customer service team
- $1 minimum deposit
- No demo accounts
- Cryptocurrency trading only
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.
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, Ethereum, 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, Inc., the company which operates Coinbase and Coinbase Pro in the US, is licensed to engage in money transmission in most US jurisdictions. Most of Coinbase’s money transmission licenses cover US Dollar wallets and transfers. In some states, money transmission licenses also cover cryptocurrency wallets and transfers on the platform. In other states, no money transmission license is required to operate a cryptocurrency business.
Coinbase is also registered as a Money Services Business with FinCEN.
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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.
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 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
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, Ethereum 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.
The following cryptocurrencies are available for trading: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP, EOS, Tezos, Stellar, Ethereum 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 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.
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 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 party 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 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.
What is the Coinbase minimum deposit?
The minimum deposit required at Coinbase is just $1. This allows you to buy and sell as little or as much cryptocurrency as you wish.
How do I deposit money into Coinbase?
Coinbase allow you to deposit funds via bank wire transfer, credit/debit card, cryptocurrency, and PayPal. The methods can vary depending on your country.
Coinbase generally makes your funds available in your account as soon as payments clear. Since Coinbase partners with various payment service providers in different geographic regions, the timing will vary according to your location and payment method used.
Card payments can be instant whereas bank transfers may take a few business days to clear.
What are the Coinbase deposit fees?
Coinbase charge a variable deposit fee depending on the payment method used. If you want to buy Bitcoin using a card, you will receive your Bitcoin instantly, but there will be a small fee associated with it. However, if you are willing to wait for the transfer and use your bank account, you can potentially avoid the associated fees.
How do I withdraw money from Coinbase?
You can withdraw funds from your Coinbase account using the same methods as you can for making deposits. This includes bank wire transfer, credit/debit card, cryptocurrency, and PayPal. The methods can vary depending on your country.
What are the Coinbase withdrawal fees?
With Coinbase & Coinbase Pro, there isn’t a direct withdraw fee. However, there is a standard ‘network fee’ at the time of withdrawing that varies depending on how busy the network is of the selected coin.
Coinbase incurs and pays network transaction fees, such as miner’s fees, for transactions on cryptocurrency networks (i.e., transfers of cryptocurrency off the Coinbase platform). For these transactions Coinbase will charge you a fee based on an estimate of the network transaction fees that they anticipate paying for each transaction. In certain circumstances, the fee that Coinbase pays may differ from that estimate. All fees that they charge you will be disclosed at the time of your transaction.
What is the Coinbase commission fee?
Coinbase offers the USD Wallet and Hosted cryptocurrency Wallet Service free of charge. This means that they will store your USD and cryptocurrency at no cost to you. “Cryptocurrency” means any cryptocurrency currently supported by Coinbase. They do not charge for transferring cryptocurrency from one Coinbase wallet to another.
Coinbase charges a spread margin of up to two percent (2.00%) for cryptocurrency conversions. The actual spread margin charged varies due to market fluctuations in the price of cryptocurrency on Coinbase Pro between the time that they quote a price and the time when the order executes. They do not charge a separate Coinbase Fee for cryptocurrency conversions.
Coinbase charge a fee (in addition to the spread), which is the greater of (a) a flat fee or (b) a variable percentage fee determined by region, product feature, and payment type. The flat fees are as follows:
- If the total transaction amount is less than or equal to $10, the fee is $0.99
- If the total transaction amount is more than $10 but less than or equal to $25, the fee is $1.49
- If the total transaction amount is more than $25 but less than or equal to $50, the fee is $1.99
- If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99
Are there any Coinbase inactivity fees?
No, there are no any Coinbase inactivity fees if you leave your account dormant for a sustained period of time. Coinbase doesn’t charge a fee to create or maintain your Coinbase account.
What are the Coinbase account types?
You can choose between Coinbase and Coinbase Pro account types. Both Coinbase and Coinbase Pro are owned by Coinbase Global, Inc., but they offer very different platforms for trading cryptocurrency. While Coinbase is aimed at helping beginner investors make their first cryptocurrency purchase, Coinbase Pro is a professional-level trading platform aimed at active traders.
Is there a Coinbase demo account?
Coinbase is designed for beginners to get started with digital currencies, however does not offer a demo or paper trading account to practice on the platform.
What are Coinbase spreads?
Coinbase charges a spread of about one-half of one percent (0.50%) for cryptocurrency purchases and cryptocurrency sales. However, the actual spread may be higher or lower due to market fluctuations in the price of cryptocurrency on Coinbase Pro between the time that they quote a price and the time when the order executes.
What is the Coinbase leverage?
Coinbase do not currently offer margin trading.
Do Coinbase allow hedging, scalping, news trading & expert advisors?
Coinbase do not have any specific restrictions on trading strategies provided no arbitrage or manipulation is used.
Is there a Coinbase Islamic account?
Coinbase do not currently offer Islamic accounts.
What are the Coinbase trading instruments?
There are hundreds of cryptocurrencies available to buy, sell and store on Coinbase. They have one of the largest selections that we have seen from any crypto exchange.
How do I open a Coinbase live account?
To open a Coinbase account, you just need to download the Coinbase app or visit the Coinbase website and click “get started”. There is a short form to fill out with some basic personal information that shouldn’t take more than a few minutes at most.
Coinbase will send you a verification email to your registered email address. Clicking the link in the email will take you back to Coinbase.com. You’ll need to sign back in using the email and password you recently entered to complete the email verification process.
How do I verify my Coinbase account?
You will need to following in order to verify your Coinbase account:
- Proof that you are at least 18 years old
- A government-issued photo ID (they don’t accept passport cards)
- A computer or smartphone connected to the internet
- A phone number connected to your smartphone (they will send SMS text messages)
- The latest version of your browser or the latest Coinbase App version. If you’re using the Coinbase app, make sure your phone’s operating system is up-to-date
What is the Coinbase trading platform?
Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more.
Where can I download the Coinbase platform?
You can download the Coinbase platforms directly from the Coinbase website or by searching for them in the app stores on your mobile device.
Where is Coinbase located?
Coinbase is a decentralized company, with no headquarters. However, they were originally headquartered in San Francisco.
Is Coinbase regulated?
Yes. Coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates. United States Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions.
What countries do Coinbase accept?
Coinbase is available in 100+ countries around the world, including the USA, Canada & the United Kingdom.
Is Coinbase a scam?
No, we do not believe that Coinbase is a scam. Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 30 cryptocurrencies.
How can I contact Coinbase support?
Coinbase have a large help section that covers a wide variety of topics. You can contact them via email, social media, live chat and telephone.
Based in San Francisco, California, Coinbase is an online trading exchange that has been in operation since 2012. It gives merchants and consumers secure access to transact with cryptos including Bitcoin, Ethereum, and Litecoin. It has over 160 billion dollars traded by over 30 million users globally.
Coinbase exchange offers multiple intuitive trading platforms with user-friendly interfaces and an API trading tool, as well as 24/7 customer support. The Coinbase website is available in over 10 languages, and it provides traders with a good selection of educational materials to learn more about cryptocurrencies.
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.