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Coinbase cryptocurrency exchange | August 2020 review

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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
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD, EUR, GBP
  • Supported cryptocurrencies: Approximately 24 cryptocurrencies
*Availability varies by location.

Which payment methods are accepted?

  • Debit card
  • PayPal

What’s it like to use Coinbase?

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 valueFee
$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 typeFee
Transfers between Coinbase walletsFree
Transfers to an outside crypto walletNetwork fees

How fast will my funds be available?

Deposits

Clock icon for transfer speed

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

Clock icon for transfer speed

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

Compare Coinbase against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Credit card
Debit card
Interac e-Transfer
Wire transfer
CAD

6
cryptocurrencies

Get a $20 bonus when you buy or sell at least CAD$50 in digital currency. T&Cs apply.
Buy and sell cryptocurrency with Canadian dollars on this beginner-friendly Canadian exchange.
Cryptocurrency
Interac e-Transfer
Wire transfer
CAD

8
cryptocurrencies

Get a $20 bonus when you open an account and deposit at least CAD$250. T&Cs apply.
At this Canada-based cryptocurrency exchange, you can pay in CAD through bank wire, Interac e-Transfer or Flexepin.
Coinsmart Cryptocurrency Exchange
Credit card
Debit card
Interac e-Transfer
Bank Wire
Bank Draft
CAD

10
cryptocurrencies

Get a $20 bonus in BTC when you open an account and deposit at least CAD$100. T&Cs apply.
Buy and sell cryptocurrency quickly and easily, with instant verification and 24/7 customer support, on this Canadian exchange.
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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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