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Coinbase cryptocurrency exchange 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?

  • Bank transfer (ACH)
  • Credit card
  • Debit card
  • Bank transfer (SEPA)
  • Wire transfer

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.

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

  • Bank transfer
    May take up to 5 business days to arrive
  • 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 and sell orders
    Usually take 1-2 business days to arrive in your bank account
  • 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 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
Wire transfer
Online banking
USD

15
cryptocurrencies

Disclaimer: eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
Bank transfer (ACH)
PayPal
Bank transfer (SEPA)
SWIFT
Xfers
Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

64
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Credit card
Bank transfer (SEPA)
SOFORT
SWIFT
Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
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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.

Ask an expert

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15 Comments

  1. Default Gravatar
    Glenda
    December 23, 2018

    Can I open an account and sell my bitcoin and hold it in US dollars until I open a US bank account?

    • Avatarfinder Customer Care
      Joshua
      December 23, 2018

      Hi Glenda,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, you can hold your money in Coinbase and withdraw it when you are ready. Usually, withdrawal of money is done through wire transfer.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    Afolabi
    September 27, 2018

    Hi,
    Please i would like to know whether coinbase has minimum/limit of amount to be received into ones wallet, especially ETH. I received some amount of GWEI from a gaming app, which reflected on Recent Activity of my wallet but never reflected on my wallet balance. Can you enlighten me please.
    Thanks

    • Avatarfinder Customer Care
      Joshua
      October 1, 2018

      Hi Afolabi,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Coinbase does not specifically mention the transfer limits on their website. However, the company says it determines your limits based on your account details, which also include verification and successful purchases made on the account.

      if your coin isn’t in your wallet yet, you may want to wait for a few days. If after waiting, the coin is still not in your wallet, then you might want to directly get in touch with Coinbase.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    Brian
    February 1, 2018

    I am trying to open an account but my debit card keeps getting rejected. Can you give me a reason? Thanks

    • Avatarfinder Customer Care
      Joanne
      February 20, 2018

      Hi Brian,

      Thank you for visiting finder, we are a financial comparison website and general information service.

      A CVN error can appear when the numbers you entered cannot be successfully verified with your card’s issuing bank or if it is card type that Coinbase does not support.

      In order to fix this error, you need to make sure that you have entered your 16 digit card number, as well as the 3-4 digit security code on the back of your card correctly.

      At this time, Coinbase can only accept Visa or MasterCard credit and debit cards with the residential billing addresses. Discover, American Express, or prepaid cards of any type are not supported as of today.

      For further questions you may need to reach out to Coinbase.

      Cheers,
      Joanne

  4. Default Gravatar
    FLOYD
    January 26, 2018

    HOW CAN I PURCHASE LUMENS(XLM)?

    • Default Gravatar
      joelmarcelo
      February 6, 2018

      Hi Floyd,

      Thanks for leaving a question on finder. You can check out our guide on where and how to purchase Lumens here. If you need anything else, send us a message anytime.

      Cheers,
      Joel

    • Default Gravatar
      joelmarcelo
      January 26, 2018

      Hi Floyd,

      Thanks for leaving a question on finder. To purchase Lumens, please go HERE.
      If you have further questions, we are always glad to help.

      Cheers,
      Joel

  5. Default Gravatar
    Eleanor
    January 22, 2018

    Every time I click on “create an account” I get the same page over again and still don’t know how to create an account.

    • Default Gravatar
      Ash
      January 30, 2018

      Hi Eleanor,

      Thank you for reaching out to us.

      To make your account on Coinbase through our page above, kindly click on the green ‘Go to site’ button to be redirected to their webpage. Once you are on their homepage, at the right top corner you will see ‘Sign up’. Upon clicking it, you will need to fill-in the needed details to ‘Create your account’.

      If error still persists, you can try these troubleshooting guide below:

      *Clear your cache/ browsing history
      *Use different browser/ update the version of your current browser
      *Use a different device (e.g. if you are using a mobile handset, switch to laptop or desktop)

      I hope this helps.

      Please do not hesitate to reach out to us again if you have additional questions.

      Cheers,
      Ash

  6. Default Gravatar
    Jack
    December 24, 2017

    I did not get my $10.00 I bought $259.59 BTC and then $259.59 in ETH. What did I do wrong?

    • Avatarfinder Customer Care
      May
      December 25, 2017

      Hi Jack,

      Thank you for your inquiry.

      Are you pertaining to the funds availability after you purchased the tokens? If so, typically, your funds will become available in your account as soon as Coinbase receives payment via credit card or when you use your USD wallet. If through bank account, you would need to wait for 3-5 days before your payment gets cleared. After which, you’re able to see your funds before the end of the estimated delivery day.

      As for withdrawal of USD to a US bank account, the money usually arrives within 4-6 business days, which will be shown on the trade confirmation page before your order is submitted. You can also check all the transactions you had in your ‘History Page’

      Hope this has answered your question.

      Cheers,
      May

  7. Default Gravatar
    ROBERT
    December 7, 2017

    How does one provide photo ID online ? Is Coinbase acceptable in Texas and Colorado ?

    • Default Gravatar
      Ash
      December 8, 2017

      Hello Robert,

      Thank you for reaching out to us.

      Kindly follow the instructions below to upload your Photo ID using the Coinbase mobile app:

      iOS

      *open the ‘Navbar’ by clicking on the MENU icon at the top left of the screen
      *find the “Settings” then select ‘Identity Verifications’.
      *click on ‘Verify new document’.
      *kindly select your country then hit on ‘Continue’.
      *Choose your document type (Passport, ID card, or driver’s license).
      *Capture a clear picture of the identity document then press ‘Continue’.

      Android

      *open the ‘Navbar’ by clicking on the MENU icon at the top left of the screen
      *find the “Settings” then select ‘Identity Verifications’.
      *click on the ‘+’ icon.
      *kindly select your country then hit on ‘Continue’.
      *Choose your document type (Passport, ID card, or driver’s license).
      *Capture a clear picture of the identity document then press ‘Continue’.

      Coinbase is available in Texas but not in Colorado. USD wallets can only be used in states that are licensed to engage in money transmission.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.

      Cheers,
      Ash

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