Coinbase review: as crypto assets have grown in popularity, platforms like Coinbase have taken up more and more space. But telling a reliable broker apart from a scam is hard for most users. So, in the case of Coinbase, is the verdict positive or negative?
Our Coinbase Review: Is It Reliable?
Regulation by the SEC is a strong sign that this platform is reliable. It is reassuring if you want to use it as a wallet to store cryptocurrency, so keeping your Bitcoin, Ethereum or Dogecoin on Coinbase is considered safe. The fact that it is subject to legal oversight at an international level means it is not a scam, and that you can make money on Coinbase by trading cryptocurrency or by buying and selling.
It is also worth remembering that Coinbase is a publicly listed company. It made an impressive market debut with an initial reference price of $250 per share and a valuation of $65 billion. When trading opened, however, the price climbed as high as $381.
On related topics, our articles “Infinox Review” and “Paymium Review” are a useful complement to this one.
Coinbase Fees
Coinbase fees range from €1.49 to €3.99 depending on the payment method you use. These fees remain fairly competitive compared with the industry average.
- Between €25 and €50: €1.99 flat fee
- Between €50 and €200: €2.99 flat fee
- Above €200: €1.49 fee.
As for the fees Coinbase charges on cryptocurrency trading, they are based on two elements:
- A 0.5% spread on cryptocurrency purchases and sales
- A flat 1% fee on cryptocurrency trading.
Payment Methods Available on Coinbase
Coinbase accepts most of the payment methods available on the market, an effort aimed at making the user experience as smooth as possible. You should, however, check which payment methods are available in your country. The payment methods are:
- Bank transfer
- Debit or credit card
- PayPal
- Cryptocurrencies
Is Coinbase a Regulated Platform?
Yes, it is a broker regulated by the US body responsible for supervising and regulating financial markets, namely the SEC. This regulation is more than necessary because the asset Coinbase offers sits largely outside traditional regulation, which makes it fairly risky for investors.
Cryptocurrencies are not subject to a central supervisory authority, so they are not as established as traditional government-issued currencies. That is why cryptocurrency platforms need to be regulated. Regulation helps prevent the most common scams in this space, such as deliberate misspellings of the name: coin base, coibase, cionbase, coin base fees, coin base review, conbaise or even coin base scam. Be careful, or you risk losing your funds for nothing: the platform’s real name is “Coinbase”.
Coinbase Review: Website and Mobile App
The Coinbase website is one of the best designed on the market. Its interface was built to be as easy to use as possible. It is intuitive enough for beginners to find their way around quickly. The broker also offers a mobile version, which has become a necessity in the smartphone era. When it comes to the Coinbase app, the verdict is clearly positive, as user feedback is very favorable.
What Can You Do on Coinbase?
Besides its role as a wallet for storing cryptocurrencies, Coinbase lets users carry out operations on the cryptocurrencies listed on the platform:
- Buy cryptocurrency
- Sell cryptocurrency
- Exchange cryptocurrency
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The US platform does offer leverage, with a maximum margin of 3x. This option is capped so tightly because cryptocurrency trading is fairly risky. Leverage involves complex parameters, and restrictive licensing rules apply to CFDs. In addition, leverage is only available to Coinbase Pro account holders, that is, to experienced traders. The main goal of this measure is to prevent users from ending up with a negative balance after investing in cryptocurrencies with excessive leverage.
Cryptocurrencies Available on Coinbase
Coinbase offers access to an impressive range of cryptocurrencies, with no fewer than 8,954 digital assets available on the platform. Coinbase therefore stands out for the remarkable variety of its digital assets, well ahead of the choice offered by many other trading platforms.
Which Wallet Does Coinbase Offer?
The platform provides wallets for each cryptocurrency available on the site. Coinbase offers secure storage through so-called “hot wallets”, using free apps called Coinbase Wallet and Coinbase Vault, both of which are available on mobile.
Coinbase Wallet is the platform’s basic wallet. Its main feature is that it makes cryptocurrency transfers easy and lets you receive your funds instantly.
Coinbase Vault is considered a virtual “safe”. This wallet lets users keep their cryptocurrencies secure.
Coinbase Pros
- A strong global presence, currently covering more than 100 countries.
- The option to earn cryptocurrency for free.
- Fairly comprehensive user support services.
- A strong focus on providing the best possible investment environment.
- A very easy-to-use interface.
- Great flexibility in financial operations.
- Commitment to using cryptocurrencies in the real economy through its card.
Coinbase Cons
- No assets such as stocks, ETFs, commodities or forex.
- While payment methods for buying are varied, the same is not true for withdrawals.
- Limited withdrawal methods
- No social trading on the platform.
Coinbase vs Vantage
Vantage, a broker best known for Forex trading, should not be underestimated. When it comes to virtual currencies, it is also a more than excellent competitor to Coinbase. Vantage lets its clients buy cryptocurrencies with much more attractive leverage than Coinbase offers.
On top of having more experience than Coinbase, the Vantage platform also performs better, with more advanced technology than Coinbase.