In this fast-growing world, CryptoCurrency is a topic of huge interest among businessmen, Students, Gamers, and almost everyone who is seeking financial independence. Crypto is now a great fuel and almost every company in the world accepts it and invests. Companies like Tesla and others are betting huge on Crypto and driving the market up. But before buying Cryptocurrency, one needs to understand the whole mechanism involved in it. Cryptocurrency, Crypto Wallet, Crypto Exchange, and many more. In this article, we will cover a very famous Crypto Exchange Coinbase. This article of Coinbase Review will help you see the pros and cons of Coinbase Crypto Exchange, and it can help you compare between different Crypto Exchanges available in the market.
Coinbase Review
Coinbase is one of the biggest Cryptocurrency exchanges in the United States of America. Coinbase was founded by Brian Armstrong in 2012. It started as the trading platform for Bitcoin, but later adopted Ethereum, Litecoin, Bitcoin Cash, and many more. Currently, Coinbase offers more than 50 assets to trade and invest into.
Coinbase Pros and Cons
Pros
- Coinbase is a browser based app, which means you do not need to download any app for trading and investing through Coinbase.
- It is really easy to sign up and buy cryptocurrencies in Coinbase.
- Coinbase has a huge user base, which makes it a highly liquid Crypto Exchange. Anyone who traded any asset like Forex, Stocks, Commodity, Derivatives understands that liquidity is a crucial factor when comes to trading.
- Coinbase has more than 45 assets to trade, which makes it a popular among the beginners.
- Coinbase interface is really simple and easy to use, which makes it a favourable platform for the beginners.
- For Coinbase and Coinbase Pro, users get the same security features. Seems like company values its every customer, no matter if It’s Pro or not.
Cons
- Like many other centralized Crypto Exchanges, Coinbase do not let User control their wallet keys. This is common with most of the centralized Crypto Exchanges, which means user do not have autonomous control over the holdings. But, this can be avoided if the investor transfers it currency bought into a hard wallet.
- Although the Coinbase Exchange is good for beginners, but still it lacks many assets for trading on its platform. So it looses its priority only to the selective traders.
- Comparatively, high fees for not using Coinbase Pro.
Coinbase Features
- With Coinbase, you get the mobile app, however you always have option for the browser based version.
- Coinbase offers a digital wallet which can be used by non Coinbase users as well.
- Coinbase is available in 100+ countries.
- Coinbase offers tutorials for the new users to learn.
- Can directly buy crypto using PayPal, debit card, credit card.
- Strong security features like Two-step verification, Biometric fingerprint, Insurance in case Coinbase is breached, AES-256 encryption for digital wallets, FDIC-insured USD Balances.
- Supports 50+ Crypto assets including all the famous ones like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Chainlink, Uniswap, USD Coin e.t.c.
Coinbase Pro
Coinbase Pro Review comes with additional features for the users however for a complete beginner Coinbase Pro can be a confusing start but if observed properly then anyone can get used to its really simple interface in a week. Coinbase pro comes with additional charting features for the pro users. Coinbase Pro users can see 1-min charting candles or can switch to a line chart. Pro version has almost 100 trading pairs available, out of which 40+ are in USD. It also supports 40+ crypto to crypto trading pairs. Coinbase Pro is an enhanced version of the Coinbase platform.
Cryptocurrencies on Coinbase
| Aave (AAVE) | Celo (CGLD) | The Graph (GRT) | NuCypher (NU) | Stellar Lumens (XLM) |
| Algorand (ALGO) | Compound (COMP) | Golem (GNT) | OMG Network (OMG) | Ripples (XRP) |
| Cosmos (ATOM) | Civic (CVC) | Kyber Network (KNC) | Orchid (OXT) | Tezos (XTZ) |
| EThe Balancer (BAL) | Dai (DAI) | Chainlink (LINK) | Ren (REN) | Yearn.finance (YFI) |
| Band Protocol (BAND) | Dash (DASH) | Loom Network (LOOM) | Augur (REP) | Zcash (ZEC) |
| Basic Attention Token (BAT) | districtOx (DNT) | Loopring (LRC) | Synthetix (SNX) | 0x (ZRX) |
| Bitcoin Cash (BCH) | EOS (EOS) | Litecoin (LTC) | USD Coin (USDC) | |
| Bancor Network Token (BNT) | Ethereum Classic (ETC) | Decentraland (MANA) | Universal Market Access (UMA) | |
| Bitcoin Satoshi’s Vision (BSV) (Send Only) | Ethereum (ETH) | Maker (MKR) | Uniswap (UNI) | |
| Bitcoin (BTC) | Filecoin (FIL) | Numeraire (NMR) | Wrapped Bitcoin (WBTC) |
Coinbase VS Coinbase Pro
| Features | Coinbase | Coinbase Pro |
| Currency Supported | 51 It supports BSV | 52 It does not support BSV, but supports LOOM and GNT |
| Transaction Type | Buy, Sell, Send, Recieve, Exchange | Buy, Sell, Deposit, Withdraw, Trade, and various orders like Stop Order, Time in force Order, Limit Order |
| Max Trading Amount | Based on Payment method and Region | Unlimited |
| Fees | Bank account=1.49% Wallet = 1.49% Debit/Credit Cards = 3.99% Coinbase fee = $0.99 to $2.99based on the amount rest all fees are same for both the platforms | Bank account = 0 Wallet = 0 Debit/Credit Cards = 0 0.04% to 0.5% taker fee, 0% to 0.5% maker fee rest all fees same |
How to Make a Account in Coinbase?
Time needed: 8 minutes.
Making and count in Coinbase
- Coinbase Website
Enter the Coinbase website (Click here) or one can simply search on Google Coinbase. Which will take you to the landing page of the Website
- Enter Details
You need to enter your First Name, Last name, email address, Password, and State.
- Agreement and Policy
Read the User Agreement and Privacy Policy. Check the boxes and click Create account.
- Verify Email
Coinbase will send a verification mail to your email address. Click on the verification link of your email address. You need to sign in to verify your email.
- Verify phone number
You will need to enter your mobile number along with your country code. Then click on Send Code or Continue. Enter the code sent to you and click Submit.
- Add Personal information
Add your personal details as per Govt issued ID card, and you need to answer few questions.
- Verify Identity
Sign in to your account and verify
- Link Payment Method
Click on the supported payment method of your choice