Buy bitcoin, Ethereum, Bitcoin Cash and Litecoin from one of the world’s premier cryptocurrency exchanges and wallet platforms
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’s managed to become an important cornerstone of the blockchain market.
|Product Name||Coinbase Digital Currency Exchange|
|Fiat Currencies||AUD, USD, EUR, GBP, CAD, CNY & 50+ more|
|Cryptocurrencies||BTC, BCH, ETH, LTC, ETC, ZRX, BAT|
|Trading Fee||Fees vary|
Credit/debit card: 3.99%
SEPA: €0. U.S Bank transfer: 1.49% (US$0.15 min.)
Coinbase USD wallet: 1.49%
ACH Transfer USD: $0
Wire transfer USD: $10
U.S Bank transfer: 1.49% (US$0.15 min.)
Coinbase USD wallet: 1.49%
Wire transfer USD: $25
- High liquidity
- Top crypto assets supported
- Instant buy feature available
- Easy to use
- Insured bitcoin deposits available
- Limited payment methods
- Account monitoring
- Mixed feedback on customer service
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, Ethereum Classic and Litecoin. Combined, the exchange provides access to three of the world’s 10 biggest cryptocurrencies.
Coinbase also provides wallet services and merchant services, making it a one-stop shop for all cryptocurrency market players.
What cryptocurrencies can I buy?
- Bitcoin Cash
- Ethereum Classic
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 33 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, including:
- ACH bank transfers
- Debit cards
- Wire transfer
As of February 2018, new credit cards are no longer supported by Coinbase. Note that while Coinbase supports existing credit cards, select credit card issuers may block cryptocurrency-related transactions.
How much will it cost me to use Coinbase?
Although Coinbase doesn’t 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 are my funds available?
In general, your funds are available in your account as soon as Coinbase receives payment. However, Coinbase warns that the timing of some payment providers can vary.
Purchases made using your USD wallet or credit card are available instantly.
When using a bank transfer, payments are normally cleared in three to five days. After the banks process your transfer, the funds enter the Coinbase system and make their way into your account before the end of the estimated delivery date.
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.
To increase your weekly limits, you may need to verify your account by:
- Verifying your phone number
- Providing your personal details
- Providing photo ID
- Establishing a purchase history by buying and selling through the exchange
Is Coinbase secure?
Yes. It’s not only widely recognized as one of the world’s largest bitcoin exchanges, but it’s also considered one of the safest. Coinbase is backed by trusted traders and uses the latest technology to secure its platform.
The Coinbase Wallet is considered highly secure, but it comes at a cost — the company controls your cryptocurrency. Larger amounts of bitcoin, Ethereum, Bitcoin Cash or Litecoin can be stored on the Coinbase Vault, which is protected by multiple approvers.
Coinbase collects a lot of information about its customers, including photo ID for those who want to increase their weekly limits. A photo ID is also required if you’re purchasing with a credit card.
Coinbase has an active support team and a comprehensive online support center featuring a range of guides and answers to frequently asked questions. However, the company receives mixed customer support ratings, which reflects its growing user base. After all, bad ratings become more common on a platform that’s served more than 20 million users.
That said, Coinbase operates a real-time chat feature and gives users the option to submit a support request, get in touch by email or call a US-based customer service number.
Coinbase pros and cons
- One of the world’s most popular cryptocurrency exchanges, which means high liquidity.
- Instant buy feature available.
- Easy to use for most beginners.
- Insured bitcoin deposits are available.
- Limited payment methods.
- Accounts are monitored.
- Customer service receives mixed reviews.
- Limited selection of cryptocurrencies.
- Credit cards not accepted for US users.
If you’re looking for a cryptocurrency broker that’s secure and easy to use, Coinbase is a viable option. Before deciding on any crypto broker or exchange, thoroughly research its features and compare it with other platforms to decide whether it fits your needs.
To get started, visit Coinbase and create an account with your name and email address. You can then verify your account and add your chosen payment method to get started buying cryptocurrency.
Frequently asked questions
Image source: Coinbase