Coinbase cryptocurrency exchange | October 2019 review
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
|Product Name||Coinbase Digital Currency Exchange|
|Fiat Currencies||USD, EUR, GBP|
|Cryptocurrencies||BTC, ETH, XRP, BCH, EOS, LTC, XLM, ETC & 5+ more|
|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
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: USD, EUR, GBP
- Supported cryptocurrencies: Approximately 15 cryptocurrencies
Which payment methods are accepted?
- Credit card
- Debit card
What’s it like to use Coinbase?
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 28 April 2019.
|$10 or less||$0.99|
|$10 to $25||$1.49|
|$25 to $50||$1.99|
|$50 or more||$2.99|
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.
|Transfers between Coinbase wallets||Free|
|Transfers to an outside crypto wallet||Network fees|
How fast will my funds be available?
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
Withdrawals and transfers
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 licences in different US states, including the New York BitLicense, and money transmitter licences 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 2019, Coinbase expanded the list of countries it serves to include New Zealand. However, so far New Zealand customers can only trade crypto to crypto.
In a nutshell
- 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.
- 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