Coinbase review
- Fiat currencies
- 23
- Supported assets
- 249
Our verdict
Buy and sell cryptocurrency at one of the world's biggest beginner-friendly exchanges.
Coinbase is one of the biggest cryptocurrency exchanges in the world by trading volume. The exchange serves customers in over 100 countries and supports over hundreds of crypto coins and tokens.
The platform has a user-friendly interface and offers features such as staking and earning as well as a “learn and earn” feature in which you watch short educational videos on certain crypto assets and then answer questions about them to earn said assets.Trading fees can be high when trades are executed on the basic platform rather than the advanced platform. Luckily, all Coinbase users can access the advanced platform for free.
Pros
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Learn and earn program. Earn coins and tokens by watching tutorials and answering crypto-related questions.
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Offers crypto rewards Visa debit card. You can earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
Cons
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Transaction fees vary
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Minimum balances apply
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Customer service ratings remain poor in platform reviews
Details
Product details
| Product Name | Coinbase Digital Currency Exchange |
| Fiat Currencies | USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 13 more |
| Cryptocurrencies | BTC, ETH, ADA, SOL, DOT, LTC, DAI, UNI, ETC, XLM & 239 more |
| Deposit Methods |
Bank transfer (ACH) Debit card PayPal Wire transfer Apple Pay Google Pay |
| Trading Fee |
Maker: 0.00 - 0.4% Taker: 0.05 - 0.6% |
| Deposit Fees | Wire transfer: $10 |
| Withdrawal Fees | Wire transfer: $25 |
Finder Score
★★★★★About Coinbase — company background
Coinbase is a San Francisco-based cryptocurrency exchange platform launched in 2012 by computer engineer Brian Armstrong and Goldman Sachs trader Fred Ehrsam.
At first, Bitcoin was the only asset Coinbase supported. However, the exchange now supports 240+ digital assets and offers features like spending, trading and earning.
Coinbase is the largest cryptocurrency exchange in the United States. In April 2021, Coinbase became the first crypto exchange to go public. It trades on the Nasdaq under the ticker symbol COIN.
Listed Coinbase crypto exchange assets
Coinbase supports over 249 cryptocurrencies, but some notable assets are missing. Namely, BNB, Lido Staked Ether and TRON, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on Coinbase.
Popular assets on CoinbaseCoinbase fees
Coinbase charges a $10 fee for wire transfer deposits.
Coinbase deposit methods
- Bank transfer (ACH)
- Debit card
- PayPal
- Wire transfer
- Apple Pay
- Google Pay
How to sign up on Coinbase exchange
Before you can even get started trading on Coinbase, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Coinbase's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Coinbase account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Coinbase.
Is Coinbase safe?
Until October 2021, Coinbase was free of any hacking incidents. This hack was handled well and Coinbase users didn’t lose any funds or assets.
The platform undergoes regular audits and uses industry-leading encryption. Customer assets are legally separate from Coinbase's business finances and won't be touched in the event of insolvency.
Past hacks. In October 2021, hackers used phished credentials to exploit a flaw in Coinbase’s SMS account recovery procedure and steal funds from at least 6,000 customers. This was the only incident of its kind for Coinbase.
Security audits. In 2020, Coinbase invited security audit firm Grant Thornton to carry out 2 security evaluations. Coinbase Custody, the cryptocurrency custody arm of the exchange, received a Service Organization Control (SOC) 1 Type 2 and SOC 2 Type 2 audit. The company said it would continue engaging with audit companies to conduct SOC audits. By doing so, it hopes to show clients its compliance with security standards.
Insurance. In the past, Coinbase stated that it has $255 million in insurance coverage for assets held in hot wallets. The policy is put in place by Aon insurance and is sourced from insurance companies in the US and UK. US cash funds are held in banks with FDIC insurance. Non-US customers' funds are held as cash in dedicated custodial accounts.
Keeping your crypto secure
All centralised exchanges, including Coinbase, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Coinbase customer support
Coinbase has live chat customer support available on its website. If you have a Coinbase card (available in the US), there’s also a phone number for support or to lock an account following suspicious activity.
Otherwise, Coinbase provides a knowledge base and an automated response system for answering queries. Users can email Coinbase support directly, typically receiving replies in one to three days.
How to reach Coinbase customer support
- Contact form
- Discord
- Phone
Alternatives to Coinbase
Your reviews
Frank Finder
Writer
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Joshua Finder
December 23, 2018
Hi Glenda,
Thanks for getting in touch with finder. I hope all is well with you. :)
Yes, you can hold your money in Coinbase and withdraw it when you are ready. Usually, withdrawal of money is done through wire transfer.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
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Afolabi
September 27, 2018
Hi,
Please i would like to know whether coinbase has minimum/limit of amount to be received into ones wallet, especially ETH. I received some amount of GWEI from a gaming app, which reflected on Recent Activity of my wallet but never reflected on my wallet balance. Can you enlighten me please.
Thanks
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Joshua Finder
October 01, 2018
Hi Afolabi,
Thanks for getting in touch with finder. I hope all is well with you. :)
Coinbase does not specifically mention the transfer limits on their website. However, the company says it determines your limits based on your account details, which also include verification and successful purchases made on the account.
if your coin isn’t in your wallet yet, you may want to wait for a few days. If after waiting, the coin is still not in your wallet, then you might want to directly get in touch with Coinbase.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
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Brian
January 31, 2018
I am trying to open an account but my debit card keeps getting rejected. Can you give me a reason? Thanks
Joanne Finder
February 19, 2018
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
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FLOYD
January 26, 2018
HOW CAN I PURCHASE LUMENS(XLM)?
joelmarcelo
February 06, 2018
Hi Floyd,
Thanks for leaving a question on Finder. You can check out our guide on where and how to purchase Lumens. If you need anything else, send us a message anytime.
Cheers,
Joel
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joelmarcelo
January 26, 2018
Hi Floyd,
Thanks for leaving a question on finder. Our guide on how to buy, sell or trade Stellar Lumens (XLM) will provide information on how the Stellar network works and how you can use Lumens.
If you have further questions, we are always glad to help.
Cheers,
Joel
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Eleanor P
January 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.
Ash
January 30, 2018
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
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Glenda
December 22, 2018
Can I open an account and sell my bitcoin and hold it in US dollars until I open a US bank account?