Have you heard of the user-friendly Coinbase website and app? It's one of the world's most well known and easily accessible digital currency platform where you can buy and sell Bitcoin, Ethereum, Matic, Solana, Litecoin and a range of other cryptocurrencies. You can also use Coinbase to store your cryptocurrency over the long term and get staking rewards. Today, the platform now has an application that you can install in your devices and use on the go. It's also regulated in the US, UK, and EU which makes it a standout choice. Here's an in-depth review of Coinbase, a platform suitable for both beginners and experienced traders. Try Coinbase App now, or continue below to learn more.
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Background & Overview
Coinbase is an online platform that allows users to buy and sell Bitcoin, Ethereum, Decentraland and Litecoin among many other cryptocurrencies. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam. It's headquartered in San Francisco, California.
In addition to being able to purchase these three digital currencies, Coinbase also allows users to store them in a digital wallet on the site.
The company has since expanded and now operates in over 100 countries. It is regulated by the Financial Crimes Enforcement Network (FinCEN) of the United States Treasury Department. The Coinbase website and mobile app allows users to buy, sell, and store digital currency on their desktop or mobile devices. The app is available on both Android and iOS devices.
The app has many of the same features as the website, including the ability to buy and sell digital currency, as well as to store it in a digital wallet.
The Coinbase mobile app was recently updated to include a new feature called "Watchlist." This feature allows users to track the price of digital currencies and add them to a list for future reference. Visit Coinbase App now!
Advantages at Coinbase App+ Simple and intuitive.
+ A wide range of cryptocurrencies available.
+ Coinbase is highly regulated.
+ Allows instant purchases.
+ Available in multiple countries.
Disadvantages- Coinbase charges a fee for buying and selling.
- Limited Payment Methods; only debit and credit cards.
- Some currencies require the Coinbase Wallet app.
- Providing user data to the U.S government.
KYC & Registration
Coinbase requires KYC for account holders. Users must provide some form of identification to verify their accounts before they can make transactions above a certain limit. Users can deposit and withdraw money from Coinbase as long as you have provided and reached the required aggregate value for all transactions. This requirement can change depending on the level of compliance required by financial institutions.
This is a mandatory KYC process which Coinbase follows to comply with all applicable laws. It enables government agencies to track any suspicious transactions made through the platform. This process is called Enhanced Due Diligence (EDD).
Registration Process in 3 Steps:
+Click on "Sign Up" at the top right corner of the screen
+Fill in your information and choose a security authentication method to secure your account (Coinbase offers SMS, Email, Authy App). The email address will be used for communication purposes only. It is not necessary when making transactions.
+Once you've created an account, access it and click on "Get Started" in the upper right hand corner of your screen. From there, you will be able to add your bank information and purchase cryptocurrency.
It's possible to apply for a business account on Coinbase. The sign up process is a bit more lengthy, which is to be expected on such a high-profile and secure platform. They'll ask for information about your business, your intended use of the platform, as well as additional documentation.
Leverage▪ Rated at 9/10
The Advanced Trade section - which brings over the features from Coinbase Pro - allows you to short and long crypto, as well as leveraging dependent on jurisdiction. You can also borrow from the platform and use your Bitcoin as collateral. Again, this is dependent on where you're accessing the site from.
Costs▪ Rated at 9/10
Coinbase has a 0.25% fee for buying and selling digital currency. The company also charges a 1% fee for transactions that are made with a debit or credit card. These fees are waived for customers who use Coinbase's wallet service.
Deposit Methods▪ Rated at 8/10
Below you can see a list of the deposit methods available on Coinbase App. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.
Coinbase is a very easy-to-use site with a wide range of deposit methods. The fiat currencies it supports are USD, GBP, and EUR. Read more about the deposit methods at Coinbase App here.
Platforms▪ Rated at 10/10
Coinbase provides its users with a secure platform for storing, selling, and buying digital currency. The platform is accessible on browsers as well as through mobile apps that are available on Android and iOS devices.
The platform is famed for its ease of use and intuitiveness and is one of the most commonly used places that beginners begin their crypto journey on. The 'Advanced Trade' section has more 'expert' functionality and can be used by day traders who understand charts and things like limit and stop orders.
Automated Trading and Copy Trading
At present, on the platform there isn't an autotrade or copy trading feature. Though, there are a various third-party applications that sync with Coinbase that you can research if autotomated trading is a feature that you like. Some of the ones we've looked at include 3Commas and Coinrule. You can learn more at the link below.›› Get started with Crypto Auto Trading at Coinbase App now.
Languages supportedThe following languages are supported on Coinbase App:
English, French, Italian, Japanese, Polish, Portuguese, Russian, Spanish and Thai and Turkish
Broker Support▪ Rated at 10/10
Coinbase has a very comprehensive customer support system. The company takes pride in their team of professionals who serve as customer support agents and help users with various problems.
The team can be reached through phone, email, or chat. They are available via email 24/7 and answer emails quickly, on average within 30 minutes of receiving them. Users can also contact the company through social media platforms.
Other Names for Coinbase App
Coinbase App is or has also been known under the following names: Coinbase Inc., CB Payments Ltd
Where can I register for Coinbase App?
The best way is to open an account here and if you have any further questions you can get in touch with their support directly.
Enjoy Quality Security: How safe it is?
Coinbase takes security very seriously. They have implemented multiple layers of security, including 2-factor authentication and a host of other measures.
The company is also regulated by the Financial Crimes Enforcement Network (FinCEN) of the United States Treasury Department. This regulatory body focuses on preventing money laundering and other illicit financial activities.
Is it a reliable site?
Yes, Coinbase is a very reliable site. It has been featured in numerous publications and news outlets. The company also complies with all applicable laws and regulations to ensure that its users are complying with anti-money laundering rules.
How does this company earn money?
Coinbase charges a fee for buying and selling cryptocurrencies on its platform. This can be a major drawback for people who are looking to make frequent transactions.
Who started this company?
The company was founded by Brian Armstrong and Fred Ehrsam. Coinbase is based in San Francisco, California.
History of Coinbase App
2012: Coinbase is founded by Brian Armstrong who was a former AirBnb engineer.
2013: The business receives $5m in investment funding from Union Square Ventures.
2014: The capability to process Bitcoin transactions through traditional payment providers is added.
2016: The Coinbase Exchange site is rebranded as the Global Digital Asset Exchange (GDAX). This would later become Coinbase Pro.
2018: Coinbase announces an early-stage venture fund, Coinbase Ventures, focusing on investment into blockchain and cryptocurrency-related companies.
2020: The business purchases the Tagomi exchange for an amount in the region of between $70-100m.
2021: Coinbase is officially publicly listed on the NASDAQ in April 2021. At the end of its first day of trading, Coinbase closed at a price of $328.28 per share.
November 2022: The Coinbase Pro sister site ceased to exist as a seperate trading entity and merged its features with the main Coinbase app/platform. This enables intermediate and advanced traders to use the primary site alongside beginners. The 'pro' features can be found under the 'Advanced Trade' section of the main Coinbase site.
Instruments available▪ Rated at 10/10
Crypto CurrenciesEOS/USD, BTC/EUR, ETH/BTC, LTC/USD, XRP/USD, BCH/BTC, XMR/EUR, PRIME/USDT, ZEC/BTC, BCH/USD, ZRX/USD, GNT/BTC, ETC/EUR, ADA/USD, XLM/USD, XMR/USD, USDT/USD, BNB/USD, NEO/USD, IOT/USD, FIL/USD, BAND/USD, GRT/USD, MANA/USD, METIS/USD, METIS/USDT, CVC/USD, DNT/USD, KNC/USD, AAVE/USD, NU/USD
›› Sign up at Coinbase App here
Screenshots from Coinbase App
Coinbase App Review Published: Friday, 10 Dec 2021 3:25 pm
Last Updated: Thursday, 16 Mar 2023 7:15 am