Coinbase

What Is Coinbase?

Coinbase is the largest US-based cryptocurrency exchange platform by trading volume. It was founded in 2012 by Brian Armstrong and Fred Ehrsam with the mission to create an open financial system for the world.

Coinbase offers a secure and easy way for users to buy and sell cryptocurrencies and other digital assets. The platform has a reputation as a beginner-friendly exchange because it provides a simple and easy-to-use interface. It also offers advanced trading functionality that can be accessed by users with high levels of technical knowledge. Investing in cryptocurrencies with Coinbase is hassle-free and simple.

Coinbase offers users the ability to store their cryptocurrencies in a digital wallet which can be accessed through a mobile app or a desktop platform. The Coinbase wallet is one of the most user-friendly wallets in the market. It provides users with the ability to buy, sell, send, and receive cryptocurrencies, complete with charts to track your portfolio in real-time. Coinbase also offers users the ability to earn rewards by staking their cryptocurrencies, or referring friends and family to the platform.

Is Coinbase Safe?

Coinbase features an extremely strong security system, which is why it is considered one of the most secure exchanges in the market. The company holds the funds of its users in cold storage, which is an offline environment that is not connected to the internet. Moreover, Coinbase employees are subject to a criminal background check for security purposes. The company is also subject to regulatory oversight, which makes it a safe place to transact.

Who is eligible to use Coinbase?

Almost anyone can use Coinbase due to its simplicity. It is available in over a hundred countries and offers excellent features to make the exchange more comfortable and less cumbersome to use. You can use Coinbase if you are over 18 and reside in a supported country.

Should You Use Coinbase?

Coinbase offers many features that make life easier for you as a digital currency investor. It provides top-tier security, a simple UI, staking and many other advanced features for professionals such as charting and auto buying and selling. Regardless of what level of user you are, Coinbase is a great place to start buying, selling, and storing your digital assets.

Coinbase Pros & Cons

Every exchange platform has its upsides and downsides. As an investor, you need to consider these aspects to make the right choice.

Pros

Coinbase offers many advantages to its users, including:

• Straightforward user interface and is simple to use.
• Coinbase offers to hold your cryptocurrencies free of charge.
• Excellent security features, including 2-step verification.
• Price alerts to keep you informed about the market.
• Makes buying and selling cryptocurrencies extremely easy to do.
• Users can easily track their portfolio in real-time.

Cons

Coinbase is not perfect, however, and here are some of its drawbacks:

• Coinbase does not offer trading in all cryptocurrencies.
• Fees when buying, selling or converting cryptocurrencies.
• Higher fees than some other cryptocurrency exchanges.
• Unsatisfactory customer support.
• Less privacy.

Coinbase Features

Coinbase provides many features for both beginners and experienced users, including the following:

2-step Verification

Coinbase offers two-factor authentication (2FA) protection to all user accounts. The 2FA provides an extra layer of security by asking you to enter a PIN (Personal Identification Number) and a code that is sent to your phone. For instance, when you want to withdraw funds from your Coinbase account, you will need to verify your identity with a mobile device. This means that, in order to withdraw funds, you will need to have access to your smart phone.

Earning Rewards on Coinbase

If you are starting out on Coinbase, there are some great features to earn passive income. After you complete identity verification through KYC (Know your customer), you can be eligible to earn some rewards on Coinbase.

Staking on Coinbase

Coinbase makes staking very easy. You can stake cryptocurrencies on Coinbase for up to 5% APR. However, this depends on whether or not the cryptocurrency you own allows staking. You can earn staking rewards with as little as a dollar, and it’s free to set up.

Staking with Coinbase is an easy way to earn money on your cryptocurrency. There are no limits on your rewards, so you can earn as much as you want. Staking on Coinbase also has the added benefit of simplifying your process for staking. You can stake your cryptocurrencies on Coinbase, and Coinbase will handle the rest.

Coinbase Fees

Coinbase charges a small fee on all crypto transactions on its platform. The fee varies depending on the cryptocurrency that you want to buy, sell, or transfer, as well as the payment method and size of the transaction.