Coinbase exchange review 2018 | Features, fees & more | finder.com

Coinbase cryptocurrency exchange | April 2018 review

Coinbase is one of the world’s premier cryptocurrency exchanges and wallet platforms allowing Americans to buy bitcoin, Ethereum, Bitcoin Cash and Litecoin.

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Very few cryptocurrency exchanges carry a name more prominent than Coinbase. The San Francisco-based company has 7.4 million users and counting and is available in 32 countries worldwide.

Naturally, Coinbase has several direct advantages for attracting cryptocurrency traders. In just five short years, it has managed to become an important cornerstone of the blockchain market.

Product Name Coinbase Digital Currency Exchange
Available Fiat Currencies AUD, USD, EUR, GBP, CAD, CNY & 50+ more
Available Cryptocurrencies BTC, BCH, ETH, LTC
Payment Methods Credit card, Debit card

Pros

  • High liquidity
  • Top crypto assets: BTC, ETH, LTC, BCH
  • Instant buy feature available
  • Easy to use
  • Insured bitcoin deposits available

Cons

  • Limited payment methods
  • Account monitoring
  • Mixed feedback on customer service
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. 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.

We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.

What is Coinbase?

Founded in 2012, Coinbase is a virtual exchange that allows you to buy and sell the world’s most popular cryptocurrencies, including bitcoin, Ethereum and Litecoin. Combined, the exchange provides access to three of the world’s ten biggest cryptocurrencies.

Coinbase not only allows you to buy and sell cryptocurrency, but also provides wallet services and merchant services. It’s pretty much a one-stop shop for all cryptocurrency market players.

$10 of free bitcoin on Coinbase

Get US$10 in free bitcoin when you buy US$100 or more of BTC, ETH, BCH or LTC.

What cryptocurrencies can I buy and sell?

  • Bitcoin
  • Litecoin
  • Ethereum
  • Bitcoin Cash

How much does Coinbase charge in fees?

Use our calculator below to quickly calculate your fees for buying on Coinbase.

Coinbase fees calculator

How do you plan on buying?

Bank transfer
Credit card
Bank wire

How much do you plan on buying?

$

Fill out the form and click on “Calculate” to see the fees charged by Coinbase.

Based on your input…

You’ll pay $ in Coinbase fees
and receive $ of the coin you want to purchase

coinbase

Available countries

Coinbase is available in 32 countries, including the United States.

Which payment methods are accepted?

US customers have access to a wide variety of payment methods to buy or deposit cryptocurrency. These include:

  • Bank transfers
  • Credit cards
  • Debit cards
  • Bank wires

How much will it cost me to use Coinbase?

Although Coinbase does not charge a fee to use its wallet service, transferring cryptocurrency to an address outside the platform may result in a network fee. Network fees are set by the blockchain community.

For US customers, Coinbase charges a base rate of 4% for all transactions. Below is a full breakdown of fees:

Payout Method for SaleEffective Rate of Conversion Fee (after waiver)
US Bank Account1.49% with $0.15 minimum
Coinbase USD Wallet1.49%
Credit/Debit Card3.99%
USD Deposit MethodFee
ACH TransferFree
Wire Transfer$10 ($25 outgoing)

How quickly will my funds be available?

In general, your funds will become available in your account as soon as Coinbase receives payment. However, Coinbase warns that the timing of certain payment providers can very.

Purchases made using your USD wallet or credit card are available instantly.

When using a bank transfer, payments are normally cleared within 3-5 days. After the banks have processed your transfer, the funds enter the Coinbase system and make their way into your account before the end of the estimated delivery day.

Are there any transfer limits?

Coinbase implements weekly buy and sell limits on all accounts. The company says it calculates your limits based on your account information. This includes verification and successful purchases made on the account.

If you want to increase your weekly limits, you need to verify your account by uploading a photo ID.

Is it safe to use Coinbase?

Coinbase is not only the world’s largest bitcoin exchange, it’s also considered one of the safest. It’s backed by trusted investors and uses the latest technology to secure its platform.

The Coinbase Wallet is considered very secure, but this comes at a cost – the company controls your bitcoin. Larger amounts of bitcoin, Ethereum, Bitcoin Cash or Litecoin can be stored on the Coinbase Vault, which is protected by multiple approvers.

It should be stated at the outset that Coinbase collects a lot of information about its customers, including photo ID for those who want to up their weekly limits. A piece of photo ID is also required if you are purchasing with a credit card.

Customer support

Coinbase has an active support team, with the names of key support staff listed on their site. However, the company’s customer support ratings have been mixed as of late, which reflects its growing user base. After all, bad ratings become more common on a platform with more than 7 million users.

That being said, Coinbase operates a real-time chat feature, where it resolves “thousands of customer issues” every day. You can also submit a request or contact the team members in the link above.

Coinbase pros & cons

Pros

  • One of the world’s most popular cryptocurrency exchanges, which means high liquidity
  • Access to a good selection of top cryptocurrency assets, including bitcoin and Ethereum
  • Instant buy feature available
  • Easy to use for beginners
  • Insured bitcoin deposits are available

Cons

  • Limited payment methods
  • Accounts are monitored
  • Customer service has received mixed results
  • Only offers four cryptocurrencies

Next steps

If you’re looking for a bitcoin exchange that offers so much more, Coinbase is the logical choice. Depending on your account level, you can enjoy very high limits that enable you to buy and sell cryptocurrency at your leisure.

To get started, visit Coinbase to create an account. By signing up, you’ll have access to the Dashboard feature as well as the FAQ section. You can then proceed to add your payment method to get started with buying cryptocurrency.

Coinbase exchange website

Frequently asked questions

Image source: Coinbase

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11 Responses

  1. Default Gravatar
    BrianFebruary 1, 2018

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

    • Staff
      JoanneFebruary 20, 2018Staff

      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

  2. Default Gravatar
    FLOYDJanuary 26, 2018

    HOW CAN I PURCHASE LUMENS(XLM)?

    • Staff
      joelmarceloFebruary 6, 2018Staff

      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

    • Staff
      joelmarceloJanuary 26, 2018Staff

      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

  3. Default Gravatar
    EleanorJanuary 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.

    • Staff
      AshJanuary 30, 2018Staff

      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

  4. Default Gravatar
    JackDecember 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?

    • Staff
      MayDecember 25, 2017Staff

      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

  5. Default Gravatar
    ROBERTDecember 7, 2017

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

    • Staff
      AshDecember 8, 2017Staff

      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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