Coinbase Review: All You Need To Know

Through this Coinbase review, we will analyze the history, reputation as well as some common questions like how to buy bitcoin through Coinbase, as well as how to buy Bitcoin with Ethereum.

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Cryptocurrencies have reached a fantastic level of popularity around the world. This year, crypto has been made mainstream. The massive rises in Bitcoin, Litecoin, and others throughout the year caused mainstream media to pay attention for the first time.  People began to understand what cryptocurrency was all about and wanted to get involved.  The popularity of Crypto has given rise to many exchanges that allow for buying and selling of the currencies. One of the most popular, one we will take a deep dive looking into in this review is Coinbase. 

Coinbase

9.4

Ease of Use

10.0/10

Reputation

10.0/10

Fees

9.0/10

Customer Support

8.0/10

Payment Methods

10.0/10

Available payment options

  • Credit Card
  • Bank Transfer

Unavailable payment options

  • Cash
  • Paypal

A Bit of History

It is essential to understand the origins of Coinbase.  It started back in San Francisco, CA back in the year 2012.  Since then, it has blown up to serve 32 different countries.  It took Coinbase just one year, 2013, to be the highest funded Bitcoin startup in existence.  It also quickly became the most significant currency exchange on the planet for cryptocurrencies.  More than $40 billion has been exchanged between its 12 million customers since the websites launch.

Getting Started to Buy Bitcoin with Coinbase

It is easy to get started.  You begin by signing up for basic information such as:

  • Name
  • E-mail Address
  • Password
  • Phone Number

Once you confirm your e-mail, the next step is to choose whether it is an individual or a business account you are establishing.  Verification of phone number follows, as well as payment method set-up.

Choosing a Payment Method

The great thing about Coinbase is that you have many options for payments.  You can use a bank transfer or fund with a credit card.  For a bank transfer, you are going to have to get some small transactions to verify your account.  For credit card use, having a screenshot of the card is a requirement.  Credit and debit card transactions are instant, while bank transfers will take a few days to get going.

Paypal accounts can also be linked to allow for individuals to take withdrawals from the process of their sales.

READY TO START TRADING?

Take advantage of the convenient deposit methods and sign up today!

How to Buy Bitcoin With Coinbase

How to buy Bitcoin with Coinbase is a very common question many customers have.  Once you have everything set up, you can begin the process of buying cryptocurrency, whether it is Bitcoin, Ethereum, Bitcoin Cash, or Litecoin.  How to buy Bitcoin with Coinbase is as easy as following these steps.

  • 1
    Start on the tab that allows you to buy or sell.
  • 2
    Click on the Buy tab and then choose the cryptocurrency you wish to purchase, in this case, Bitcoin.
  • 3
    Choose the payment method that you want, as well as the amount.
  • 4
    The fees and such will immediately be shown.
  • 5
    You can also set it up as a one-time buy or a recurring buy that happens on a periodic basis, whether it be weekly or monthly.
Coinbase review - Buying Bitcoin tab

How to Buy Bitcoin With Ethereum

Many are curious as to how to buy Bitcoin with Ethereum.  Can you do that? Yes, you can also use current cryptocurrency you have to buy Bitcoin and other types of cryptocurrencies.  Say you have a bunch of Ethereum and you want to buy some Bitcoin with it.  You can use the same method that was laid out above, instead of using the bank account though you will be using the wallet that houses your Ethereum.  This will allow you to exchange one type of cryptocurrency for another quite easily.

Key Information

Coinbase allows you to buy and sell a lot more than just Bitcoin.  Ethereum, Litecoin, as well as Bitcoin Cash are available for purchasing and trading on the exchange.  Coinbase stated that Bitcoin Gold will also be added but has yet to make its official debut on the exchange.  Bitcoin Cash was added in late 2017 as the fourth currency on the exchange.  Once it hit Coinbase, it immediately shot up in popularity due to the new mass appeal.

Coinbase also operates on what is known as the GDAX exchange.  It also supports Segwit enabled Bitcoin wallets, which allow for faster transaction confirmations, as well as reduces withdrawal fees.

“I have had no issues. I did read all the details and FAQ type info on the site before buying. I think much of the issues are people not understanding what was going to happen when they made a purchase. Sure, some things go bad.I even reset a phone with my 2nd auth on it and had to recover my account. It took a day but I did it. Not mad at Coinbase, I want them to be secure. Mad at myself for not transferring my phones correctly.“

Bigb49

Pros/Cons

There are indeed more positives than negatives when it comes to Coinbase.

Pros
  • With the exchange, you have an easy way for everyone to buy Bitcoin or other types of cryptocurrency.
  • High liquidity
  • High buying limits
  • The ability to instantly purchase with a credit card
Cons
  • The only real con here is that Coinbase is a platform that will limit you a bit regarding payment methods and fees.

Outside of that, there is not much on the cons side of the house with Coinbase.

Our Coinbase review  got you interested in other  crypto exchanges? We have compared all major cryptocurrency exchanges in this article.

Is Coinbase Safe to use?

Coinbase is the safest Bitcoin exchange in the world.  The company is based in California and is supported by a set of highly trusted investors.  It is the largest Bitcoin broker and complies with all of the laws laid down by the United States at the state and federal level.  It works to pursue relationships with regulators to be sure that the open and innovative financial system is adequately secured.  It is also transparent in how it segregates customer and company funds.  Most funds, over 95%, are stored offline for safety.

Customer Support

Coinbase is excellent in the customer service space.  They can be contacted by e-mail and also have plenty of information available right on their website.  They have a Knowledge Base to search, as well as a FAQs page.  You will usually get a response from Coinbase in the range of 24 to 72 hours.  The responses are typically personalized so that users can get the best information possible.

Which Countries Does Coinbase Allow

One of the great things about Coinbase is that it can be used in so many different countries.  Coinbase serves customers in a slew of countries.  The nations that Coinbase allows and services include:

  • Australia
  • Austria
  • Belgium
  • Bulgaria
  • Canada
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Finland
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Jersey
  • Latvia
  • Liechtenstein
  • Monaco
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • San Marino
  • Singapore
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom
  • United States

When you sign up for Coinbase, the location that you enter is going to have to match up with a country they serve.  Simply put, you don’t have to worry about signing up with a non-supported nation because Coinbase will not allow that to happen.

YOUR COUNTRY IS LISTED?

Congratulations, you are eligible for trading on Coinbase!

One thing to remember with Coinbase though is that the transaction limits will vary from one country to the next.  When you log into your account, you will see the account limits that you have.  You can apply for higher limits.

  • A fully verified resident of the United States, for example, can do transactions up to $50,000 in a given week.
  • European customers can typically get up to a maximum amount of $30,000 in a given week.

The country you reside in will determine the allowed transaction limits.

The Ease of Using Coinbase

Coinbase is quite easy to use.  You can store, send, and receive cryptocurrency through Coinbase in just a few quick steps.  During our research for this review, we found that Coinbase is fully responsive and mobile-optimized which means you can handle all of your transactions on all types of devices.  There is also a great Android and iOS app available so that you can also stay active at all times by using your smartphone. Coinbase makes it convenient to trade cryptocurrencies no matter where you are, or what device you may be on.

Reputation

The exchange has an amazing reputation with the community.  In recent months, there have been some instances where downtime has taken place.  The downtime has been a direct result of Coinbase being hit with traffic that it has just never seen before.  While that took place very sporadically late in 2017, it has not happened since and the site is now set up to handle any sudden spikes in the future.

Follow Coinbase on their social media below

Fees Charged

During the research for our Coinbase review it has been brought to our attention that the website does charge fees for using their platform.  The fees that you are charged though will largely depend on the payment method you use.  Credit card transactions, for example, are going to carry a higher fee compared to buying with a linked bank account.  The standard fees that Coinbase charges range from 1.49% up to 3.99%.  The fees are very competitive and also lower than those on many of the other exchanges in the market. If you are interested in what other crypto exchanges offer in terms of fees after reading our Coinbase review, you can check them out in our ultimate crypto exchanges review comparison.

LIKE THE FEES?

Now is the time to start buying cryptocurrencies!

Sending Crypto from Coinbase

If you want to send or store cryptocurrency, you go to the Send area of your account.

  • Once you are logged in, you will see the Send tab In the corner
  • Once you are logged in, choose the wallet that you want to use and you will be able to send and store coins at will
  • Just enter the amount, and the public key of the individual you are sending the funds to and you are ready to go
Receiving Cryptocurrency to Your Coinbase Account

Receiving crypto through Coinbase is also quite easy.  Once you are logged into the Accounts tab, you can go to the wallet that you want to have the fund sent to.  You can click on Receive and what will happen is that you will get a wallet address from Coinbase.  The sender will need your address, and as long as they have that, they will be able to send you any of the cryptocurrencies you want.  Once you have funds you can start buying Bitcoin with Coinbase, or how to buy Bitcoin with Ethereum.

Conclusion

No exchange is perfect, but Coinbase is as close as you are going to get.  Coinbase allows for customers to have an easy way to buy and sell cryptocurrency.  They have a great platform and an online exchange with security levels to give you high confidence.  Their reputation is top notch, and they make it easy for you to fund your account, have full access to the private key of your crypto, and get you up and running in no time at all.  If you are in the market for a crypto exchange and want to see what cryptocurrency has to offer, Coinbase is a great start!  Why wait? Start getting into crypto today.

You can check out all of the most popular cryptocurrency exchanges in one article here.

Has our Coinbase review helped you out? Have you traded on Coinbase? Do you have any advice or suggestion for the other readers? Let us know in the comment section below!

Similar Exchanges:

Since the inception of these currencies, many crypto exchange companies were founded and just two years ago, GDAX first appeared on the crypto exchange scene.

BitPanda is a company established in late 2014 when cryptocurrencies were not even close to the popularity they have now and it is one of the best exchanges out there.

Coinhouse is a well-known crypto exchange company that operates mainly in Europe, and their goal is to provide their users with the means of buying, selling, and exchanging crypto with ease and in a short period of time.

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