Coinbase Review: All You Need To Know Before Using

Coinbase Review: All You Need To Know Before Using

  When it comes to the best Cryptocurrency exchange platform, Coinbase is the first name you probably hear. Created in 2012 by Brian Armstrong and Fred Ehrsam, coinbase’s reputation lies with its presence in 32 countries across the world, especially in USA, UK, and Brazil which represents its largest customer base. Here is the complete review on coinbase.

With around 15M active users, coinbase is the largest cryptocurrency exchange in the world, followed by binance. If you want to buy cryptocurrencies with your Fiat money, coinbase is the best exchange for you no doubt. Read this whole coinbase review with each and every detail you need to know.

Is Coinbase a Wallet?

Coinbase is a cryptocurrency exchange, but it does have a built-in wallet. It allows you to trade as well as invest in the cryptocurrency market and that too with the support of Fiat currencies.

Coinbase Review: Advantages

The first and foremost point which makes coinbase really likable is the easy to use interface which allows even the beginners to use it without any confusions.

Security

The second is called Multisig Vault and uses the multi-signature innovation which allows advanced users to self-manage security for their wallet keys. This means that if coinbase disappears someday, then you will still have the access to your Bitcoins.

Liquidity

Liquidity is never a problem when you are using coinbase. It is one of the most liquid exchange you will ever find in the cryptocurrency market. Liquidity means that you trade get fulfilled within seconds without the need to wait. Do instant transactions be it in Crypto exchange for Fiat exchange.

The shift card

This is one feature which makes coinbase different from all other exchanges. The shift card, popularly known as the coinbase debit card, allows you to transact in various US states. Using this you can transact directly using the Bitcoin balance in your coinbase wallet.

Customer Service

Coinbase is known for its customer service value. It is the first cryptocurrency exchange in the world to launch its Direct customer support telephone line, which is a very big plus point. all your queries and problems are resolved almost instantly by the customer care of the coinbase.

Coinbase Review: Disadvantages

Besides the number of advantages, there are a number of disadvantages too. We post true and significant reviews and show you both the sides of a coin.

Limited Cryptocurrency

One of the major drawbacks of coinbase exchange is that it allows you to transact in only four cryptocurrencies, named Bitcoin, Bitcoin cash, ethereum, and Litecoin. S0 if you are looking for a diverse portfolio then you might have to look for some mother exchange as coinbase is restricted to 4 cryptocurrencies only.

Limited Fiat Currencies

This is not a major drawback but still tell It is available only in three currency zones, that is the US dollars, Euro and GBP. Thus this limits the global transaction of coinbase. However, anyone across the world can use the cryptocurrency exchange.

High fees

A Major disadvantage of coinbase is the high transaction fees that it charges on cryptocurrency transaction. sometimes it charges up to 4.5 % on a transaction which is considered more expensive than most other cryptocurrency exchange.

Coinbase Review: Is it safe?

As mentioned earlier coinbase is one of the most secured cryptocurrency wallets in the entire market. Dedicated engineering team behind coinbase is always working to enhance your security. As mentioned earlier, coinbase has launched a new technology. Using this technology you can have access to your Bitcoins anytime and anywhere you want, even if coinbase to disappears from the internet someday. The reason behind this was the recent hacking activities going on around the cryptocurrency market.

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Trey Warsame

About the Author: Trey Warsame