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Coinbase cryptocurrency exchange | August 2020 review
Buy and sell cryptocurrency at one of the world's biggest beginner-friendly crypto exchanges.
- Great for first-time crypto buyers
- Not so great for its fees
3
Fiat currencies
24
Cryptocurrencies
Details
| Product Name | Coinbase Digital Currency Exchange |
|---|---|
| Fiat Currencies | USD, EUR, GBP |
| Cryptocurrencies | ATOM, BAT, BTC, BCH, XRP, DAI, DASH, EOS, ETH, ETC & 10+ more |
| Deposit Methods |
Bank transfer (ACH) Credit card Debit card Bank transfer (SEPA) Wire transfer |
| Trading Fee | Fees vary |
| Deposit Fees |
Credit/debit card: 3.99%
Bank Transfers (SEPA): None Faster payments: None U.S Wire Transfer: $10 Fees vary by location and payment method. |
| Withdrawal Fees |
Bank Transfers (SEPA): €0.15
U.S Wire Transfer: $25 Fees vary by location and payment method. |
Pros
- Easy
- Tried and tested
- Wide service range
- Customer service
Cons
- Expensive
- Limited coin selection
- Availability varies
Learn more about
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: USD, EUR, GBP
- Supported cryptocurrencies: Approximately 24 cryptocurrencies
Which payment methods are accepted?
- Debit card
- PayPal
What’s it like to use Coinbase?
1. Buy and sell cryptocurrency
As Coinbase says, buy and sell cryptocurrency.
2. Create an account
To get started, create an account by entering your name and email and choosing a password.
3. Browse the market
See what's available, and how much it is.
4. Check out the other Coinbase products
Buying and selling is just the beginning. Trade actively on Coinbase Pro if you want to get more deeply involved, or try out the other available Coinbase offerings.
Fees and limits
Platform trading fees
You will be charged the higher of either the flat fee or the variable fee for buying and selling.
All fees listed here are in US dollars unless otherwise specified and accurate as of 20 February 2020.
Flat fees
| Transaction value | Fee |
|---|---|
| $10 or less | $0.99 |
| $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
Variable fees
The variable fees depend on your location, payment method and whether you’re placing a “standard” order or an “instant buy/sell”.
Deposit and withdrawal fees
All deposit and withdrawal fees are included in the platform trading fees. You can withdraw instantly using PayPal in Canada.
Transaction fees
| Transfer type | Fee |
|---|---|
| Transfers between Coinbase wallets | Free |
| Transfers to an outside crypto wallet | Network fees |
How fast will my funds be available?
Deposits
Near-instant to 5 days
- Debit card
Within minutes
- Card and Coinbase wallet purchases
Purchases will complete instantly
- Deposits from wallets
Within minutes
Withdrawals and transfers
Near-instant to 1-2 days
- Wallet transfers between Coinbase wallets
Typically complete immediately
- Withdrawals using PayPal
Within minutes
- Sending outside Coinbase wallets
Typically a few minutes, depending on the state of the network, the cryptocurrency and the network fees
Is Coinbase safe to use?
- Regulation. Coinbase holds a wide range of licenses in different US states, including the New York BitLicense, and money transmitter licenses in different states.
- Verification process. Coinbase requires users to get verified to trade.
- Security features. Coinbase recommends 2FA to protect accounts and follows (and leads) industry best practices such as keeping the majority of customer funds in cold storage.
Coinbase was founded in 2012 and has never been hacked.
How do I create an account at Coinbase?
What else do I need to know about Coinbase?
Coinbase is one of the world’s best-known cryptocurrency exchanges. It was founded in 2012 and, as of November 2017, claimed to have 13.3 million users.
It initially began as a way of simply buying, selling and transferring cryptocurrency, but has expanded to offer a wide range of services beyond that.
In a nutshell
Pros
- Easy. Coinbase is renowned for making the entire buying process simple.
- Tried and tested. Coinbase has been one of the world’s best-known exchanges for years and has never been hacked.
- Wide service range. Try Coinbase Earn to get some free crypto, and Coinbase Learn to get some free education and more.
- Customer service. Coinbase is one of a few crypto exchanges to offer 24/7 phone support.
Cons
- Expensive. The fees vary but will typically be higher than what you can find elsewhere.
- Limited coin selection. Coinbase has a limited range of cryptocurrencies.
- Availability varies. The platform itself, its crypto offerings and its service availability varies by location