Coinbase is one of the world’s premier cryptocurrency exchanges and wallet platforms allowing Americans to buy bitcoin, Ethereum, Bitcoin Cash and Litecoin.
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.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|
- High liquidity
- Top crypto assets: BTC, ETH, LTC, BCH
- Instant buy feature available
- Easy to use
- Insured bitcoin deposits available
- Limited payment methods
- Account monitoring
- Mixed feedback on customer service
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 Cash
How much does Coinbase charge in fees?
Use our calculator below to quickly calculate your fees for buying on Coinbase.
Coinbase fees calculator
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 Sale||Effective Rate of Conversion Fee (after waiver)|
|US Bank Account||1.49% with $0.15 minimum|
|Coinbase USD Wallet||1.49%|
|USD Deposit Method||Fee|
|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.
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
- 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
- Limited payment methods
- Accounts are monitored
- Customer service has received mixed results
- Only offers four cryptocurrencies
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.
Frequently asked questions
Image source: Coinbase