Coinbase review
- Fiat currencies
- 23
- Supported assets
- 257
Our verdict
Buy and sell cryptocurrency at one of the world's biggest beginner-friendly exchanges.
Coinbase is one of the biggest cryptocurrency exchanges in the world by trading volume.
The exchange serves customers in over 100 countries and supports over hundreds of crypto coins and tokens.
The platform has a user-friendly interface and offers features such as staking and earning as well as a “learn and earn” feature in which you watch short educational videos on certain crypto assets and then answer questions about them to earn said assets.
Trading fees can be high when trades are executed on the basic platform rather than the advanced platform. Luckily, all Coinbase users can access the advanced platform for free.
Pros
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Supports 200+ digital assets
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Easy signup process
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Earn crypto by learning about it with Learning Rewards
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Discounted volume pricing with Coinbase Advanced Trade
Cons
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Higher fees for Coinbase simplified than Advanced Trade
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Credit card transactions not supported in Canada
Details
Product details
| Product Name | Coinbase Digital Currency Exchange |
| Fiat Currencies | USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 13 more |
| Cryptocurrencies | BTC, ETH, ADA, SOL, DOT, LTC, DAI, UNI, ETC, XLM & 247 more |
| Deposit Methods |
Debit card PayPal |
| Trading Fee |
Maker fee: 0.00-0.4% Taker fee: 0.05-0.6% |
| Deposit Fees |
Wire transfer: US$10 Cryptocurrency: Free ACH: Free |
| Withdrawal Fees |
Wire transfer: US$25 Cryptocurrency: Price varies depending on the asset ACH: Free |
Ratings methodology - how we scored Coinbase
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About Coinbase — company background
Coinbase is a San Francisco-based cryptocurrency exchange platform launched in 2012 by computer engineer Brian Armstrong and Goldman Sachs trader Fred Ehrsam.
At first, Bitcoin was the only asset Coinbase supported. However, the exchange now supports 100+ digital assets and has features such as spending, trading and earning.
Coinbase is the largest cryptocurrency exchange in the United States. In April 2021, Coinbase became publicly traded via a listing on the NASDAQ. It’s listed under the ticker COIN.
Coinbase was the first crypto exchange to go public. The event was a milestone for the cryptocurrency industry.
Listed Coinbase crypto exchange assets
Coinbase supports over 257 cryptocurrencies, but some notable assets are missing. Namely, BNB, Lido Staked Ether and XRP, which are in the top 20 cryptos by market cap. In total, 15 of the top 20 cryptos are available on Coinbase.
Popular assets on CoinbaseCoinbase fees
Coinbase charges a US$10 fee for wire transfer deposits. Ach and cryptocurrency deposits are free for folks in Canada.
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Wire transfer: US$10 Cryptocurrency: Free ACH: Free |
| Withdraw funds | Wire transfer: US$25 Cryptocurrency: Price varies depending on the asset ACH: Free |
Coinbase deposit methods
- Debit card
- PayPal
How to sign up on Coinbase exchange
Before you can even get started trading on Coinbase, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Coinbase's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Coinbase account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Coinbase.
Is Coinbase safe?
Until October 2021, Coinbase was free of any hacking incidents. This hack was handled well and Coinbase users didn’t lose any of their funds or assets.
Coinbase undergoes regular security audits and has insurance policies to protect the assets it custodies.
Past hacks. In October 2021, hackers used phished credentials to exploit a flaw in Coinbase’s SMS account recovery procedure and steal funds from at least 6,000 customers. This was the only incident of its kind for Coinbase.
Security audits. In 2020, Coinbase invited security audit firm Grant Thornton to carry out 2 security evaluations. Coinbase Custody, the cryptocurrency custody arm of the exchange, received a Service Organisation Control (SOC) 1 Type 2 and SOC 2 Type 2 audit.
The company said it would continue engaging with audit companies to conduct the SOC audits. By doing so, the company hopes to show clients that it is compliant with various security standards.
Insurance. Coinbase is insured for $255 million. This insurance is solely for coins stored in hot wallets. The policy is put in place by Aon insurance and is sourced from insurance companies in the US and UK. US cash funds are held in banks with FDIC insurance.
Keeping your crypto secure
All centralized exchanges, including Coinbase, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Coinbase customer support
Coinbase has live chat customer support available on its website. There’s also a phone number for support on the Coinbase card or to lock an account if there is suspicious activity.
Otherwise, Coinbase provides a knowledge base and an automated response system for answers via form replies. Users can also email Coinbase support directly and typically you’ll receive a reply in one to three days. Response times have been reported to be slow for many users.
How to reach Coinbase customer support
- Contact form
- Help center articles
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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Evan Finder
Writer
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