Coinbase Review — FinexCrypt

With over 13.3M active users, there are few exchanges that are as trusted and reliable as Coinbase.

If you want to buy cryptocurrencies with your fiat money ( USD, EUR, etc.), Coinbase may be the exchange for you.

In this Coinbase review, I will cover the basics of Coinbase including what it is, how it works, its advantages and disadvantages and whether it’s right for you.

By the time you’re finished reading this Coinbase review, you’ll have a good understanding of Coinbase and what it offers. More importantly, you’ll able to decide whether Coinbase is the right exchange for you!

Brief Introduction

Founded in 2012 by Brian Armstrong and Fred Ehrsam as part of Ycombinator, Coinbase is one of the oldest exchanges around. Coinbase has started out only as a Bitcoin brokerage service (selling Bitcoins directly to customers), but additional services were added along the way. Coinbase is fully regulated and licensed. The company has raised over $540m from leading investors such as Andreessen Horowitz, Rabbit Capital and The NYSE.

Using the platform

Trading on Coinbase is an extremely easy process and geared toward a beginner. The platform can also be accessed through your android or iOS devices. Coinbase does not offer any downloadable trading software and it is all browser-based, including its more advanced trading platform, Coinbase Pro.

When you log in you are immediately shown your portfolio balance and its performance in a selection of time frames like one hour, 24 hours, one week, and one year.

A banner above your portfolio balance has a “Buy crypto” button where you can enter a dollar value and place market orders for whichever crypto you choose that Coinbase has available. This button also brings up the options to sell or convert your crypto or even set up recurring orders every day, every week, on the 1st and 15th, or once a month.

PROS

• Fiat currencies — accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies
• Very secure

CONS

• Not available in all countries
• High fees
• Very strict regulations
• Limited spending / withdrawal

Coinbase PRO

Formerly known as GDAX, Coinbase Pro is a cryptocurrency trading platform. As opposed to the traditional Coinbase brokerage service, which simplifies buying cryptocurrencies at a premium, Coinbase pro is aimed at more experienced users. Coinbase pro allows users to trade several cryptocurrencies including BTC, ETH, LTC, BCH and ZRX. Fees are considerably lower than the brokerage service and there are advanced trading options as well.

So, why choose Coinbase?

Especially as a starting crypto investor you will quickly end up at Coinbase. Why? Because it is easy, fast and very user-friendly. Below are a few points why Coinbase could be interesting to you:

• Everything in one platform, from purchase to sale to safe cold storage.
• Very user-friendly.
• Wallets are covered by the Coinbase insurance.
• More than 30 million customers use Coinbase.
• Big name in the crypto industry.

Originally published at https://finexcrypt.net on October 22, 2020.