Read our Coinbase review and learn why we recommend this exchange for online trading. Coinbase is a great trading platform that offers features and services that suit traders from different backgrounds.
Coinbase is among the most well-established crypto exchange in the United States and one of the world’s largest. Coinbase has significantly increased the number of cryptocurrencies available to its users, who now have access to roughly 100 different cryptocurrencies. In the case that the site is hacked, the cryptocurrency is insured, which is a special provision in the cryptocurrency sector. Continue reading our Coinbase review to find out more about the incredible features of this exchange.
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Coinbase Trading Platform
Users of Coinbase can trade on one of two platforms:
- The original Coinbase site: This allows users to buy cryptocurrencies with US dollars.
- Coinbase Pro: previously known as GDAX, offers extensive charting capabilities and performs crypto-to-crypto trades and place market, limit, and stop orders.
Cryptocurrency Available On Coinbase
Coinbase allows customers in the United States to exchange 96 different cryptocurrencies. It is higher than many other cryptocurrency exchange platforms. Coinbase offers about 80 crypto-to-crypto trading pairings, with dozens of them capable of trading for Bitcoin and ether. More than ten currencies are capable of trading with stable coins, such as USDC (a currency whose price is always equal to one US dollar).
When purchasing cryptocurrency via Coinbase, the minimum amount required is $2, which is quite reasonable compared to the other cryptocurrency exchanges. Coinbase’s fee model is a collection of features dependent on two factors: the amount of money you have in your wallet and how much you want to spend.
Coinbase charges a spread of approximately 0.5 percent; however, rates may be higher or lower based on market volatility. Coinbase exchange also charges a small fee, a variable fee, or a flat fee based on the quantity of cryptocurrency purchased and the method of payment used.
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Coinbase Education Program
Coinbase is the most fantastic choice for cryptocurrency traders searching for ease, as well as for traders looking to exchange one crypto to another quickly and effortlessly. Moreover, Coinbase offers a series of educational videos and tests to help users learn more about Bitcoin and other cryptocurrencies trading available on the platform. Additionally, users can earn different cryptocurrencies by participating in the courses.
Digital Wallet Security
While cryptocurrency exchange platforms are not covered by the FDIC (Federal Deposit Insurance Corporation) or the SIPC (Securities Investor Protection Corporation), Coinbase claims that all digital money it maintains on its servers is secured. Customer funds are stored online by the company, with the remainder held in offline cold storage. It means the customer’s money is kept away from the risk of online breaches. If the company were to endure a violation of its online data storage, “the insurance plan would reimburse out to protect any customer money lost as a result of the breach.”
According to the corporation, the insurance would cover only losses resulting from Coinbase cyber security or staff theft; breaches involving individual Coinbase accounts (for example, if your password was compromised) are not covered by the policy.
Cash balances are maintained in custodian accounts, money market funds, and US Treasury bills in the United States. If your assets are held in a bank in the United States, they are protected by the FDIC up to a maximum of $250,000 per individual.
Coinbase Customer Assistance
When it comes to customer service, Coinbase has everything in control. In addition to requesting support through email and social media (Twitter), users have the option of requesting to talk with someone by telephone through an application on the company’s official website.
There is an automated call system that you can use to lock your account if you believe your exchange account has been hacked or if there has been any unusual activity on your account.
Coinbase is acknowledged as one of the most crucial cryptocurrency exchanges platforms in the United States. The interface for the basic Coinbase service is speedy and user-friendly, and charges can be tracked if you use the more sophisticated Coinbase Pro service.