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▷ Coinbase Reviews & Ratings 2024

Is Coinbase legit and safe to use?

Crypto Exchange
Coinbase
Favicon
3.8/5
  • Loads of crypto options
  • Airtight security
  • Supports NFT trading
Go to Coinbase
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United States of America
Customers from the US accepted
T&Cs apply, 18+
Details
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User Reviews

Coinbase was founded in 2012, the exchange is listed on NASDAQ and has over 50 million users making it one of the biggest crypto exchanges. This Coinbase review recognizes the establishment as a renowned cryptocurrency exchange for secure trading practices.

Is Coinbase legit? Does it provide safe crypto transactions? Yes, our experts have completed a detailed analysis of the exchange to answer these and other burning questions about Coinbase. We have reviewed everything from creating an account to trading and withdrawing on the exchange with an emphasis on the security of the investor’s assets to save you the hassle.

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Payment Methods
PayPal
Bank Transfer
Visa
+
License
SIPC - Securities Investor Protection Corporation (USA - not governmental)
Accepts Customers from
USA
USA
Company
Coinbase Europe Limited
Founded
2011
Website
coinbase.com
Available Languages
EN
ES
+
Customer Support
Phone, Email Support
Phone
1-888-908-7930
Overall Rating
3.8/5
  • Usability, Look & Feel
    3.7/5
  • Payment Methods
    3.9/5
  • Customer Service
    3.6/5
Payment Provider Safety Approval rate
PayPal very high High
Bank Transfer very high
Visa high
Mastercard high
No review posted yet.
User Rating
0/5
5 Stars
0%
4 Stars
0%
3 Stars
0%
2 Stars
0%
1 Star
0%
Last Updated on 18/04/2024

Security, Usability, Look & Feel - A class apart

Security is a matter of concern for all crypto exchanges. Users often wonder, Is Gemini safe for trading? Are these cryptocurrency platforms legally approved? Now to the question that our review asks.

Is Coinbase safe? Coinbase proves its position as one of the best cryptocurrency exchanges of this era with state-of-the-art security measures integrated into the platform. Users’ assets are stored offline in safe deposit boxes, top encryption standards are followed, and two-factor authentication is carried out for verification. However, the actions of hackers are still a haunting matter of concern for crypto exchanges like Coinbase.

The usability of the Coinbase cryptocurrency exchange makes it stand out from the rest. Both newcomers and experts can buy, sell, and trade cryptocurrencies with the platform’s intuitive setup. Cryptocurrency markets operate on a 24/7 basis, so you can log in to your profile and make a trade at any time. Purchases and withdrawals are simple to understand, and you can easily keep track of your transactions. In addition, our Coinbase review found that its design and performance enhanced the platform’s look and feel. Overall, you will find it highly comfortable to carry out your trades on Coinbase.

Company
Company Coinbase Europe Limited
Headquarter 70 Sir John Rogerson’s Quay, Dublin D02 R296, Ireland
Year of Founding 2011
CEO Brian Armstrong
Website www.coinbase.com
Available Languages English, Spanish, German, French, Italian, Russian, Polish, Portuguese, Hindi
Customer Support Phone, Email Support
Email [email protected]
Phone 1-888-908-7930
Licence SIPC - Securities Investor Protection Corporation (USA - not governmental)
SIPC - Securities Investor Protection Corporation (USA - not governmental)
Verified by -
Payment Methods
PayPal
Bank Transfer
Visa
Mastercard
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How to trade cryptocurrencies on Coinbase

You might be skeptical about sharing your personal details on any cryptocurrency exchange. If you’re wondering if Coinbase is safe, we can assure you that you can create a profile with no concerns.

Signing up for an account on Coinbase is secure and can be done as quickly as opening up a social media profile:

  • Enter your personal information and submit a government-approved identity proof.
  • Next, you would be prompted to create your password, so make sure you choose a random, tricky one that hackers can’t crack.
  • Finally, complete the KYC procedures to activate your Coinbase account.

Coinbase is appreciated for its extensive array of coins and trading options. Trading with Coinbase includes buying, selling, transferring, and storing cryptocurrency. This Coinbase review covers how you can start trading with a few clicks after accessing your verified cryptocurrency portfolio. First, you need to connect your bank account and select the desired payment method for your transactions. Then, the Buy/Sell option on top makes it easy to trade the cryptocurrency of your choice directly. Coinbase takes pride in itself as one of the best crypto exchanges with low fees, so you can make your move without worrying about the costs.

Is Coinbase safe for cashing out? Coinbase makes it a point to outdo its competitors in terms of security. The practiced method of cashing out Bitcoin or other cryptocurrencies is to sell them for their value in USD, then withdraw from your wallet to your linked bank or PayPal account.

Payments - A simplified approach

Payments are made via the available cryptocurrencies found in the Active Cryptocurrencies section. Linking your card, bank account, or PayPal account is the most common payment method for deposits and withdrawals. The minimum investment is $2, with the flat fee charged for transactions ranging from $0.99 to $2.99. The minimum amount for withdrawal from Coinbase is calculated as $0.55 because that is also the minimum fee charged for a withdrawal transaction. All that the user needs to do is select the crypto they wish to send, enter an address for the receiver, and the transaction shall be carried out without much delay.

PayPal
Bank Transfer
Visa
Mastercard

All things considered, it is recommended to use your bank account for significant investments and PayPal account for smaller investments and cashouts. Our Coinbase review can assure you that this platform is the best PayPal cryptocurrency exchange for easy and secure withdrawals.

Customer Service - Tricky but satisfactory

Just like there are no cryptocurrency exchanges with all coins available for trade, customer service in Coinbase is not perfect. The platform primarily follows a self-service model in which all the information is made available to customers so that there is no need for live support or immediate contact options. The official customer service options include the help page, emailed support tickets, an automated phone system, and a chatbot setup.

Once again, the questions and queries on ‘Is Coinbase safe?’ arise in terms of customer support. Most of the complaints that Coinbase users raise are about getting help to navigate through scams and figuring out how to restore hacked or locked accounts. Coinbase does offer a support mechanism through email and phone, but a delayed response is common in such cases. However, since the platform meets most service demands, customers are usually satisfied with the quality of the platform.

License & Security - Asset safety at the forefront

When it comes to crypto trading, users often debate about the matters of security involved. This applies to all trading platforms. Is FTX safe? Does any exchange carry the qualification of being a licensed company? These are important questions that users are supposed to ask. Moving on to Coinbase, the query arises – Is Coinbase legit?

SIPC - Securities Investor Protection Corporation (USA - not governmental)
CNMV - Comisión Nacional del Mercado de Valores
ASIC - Australian Securities and Investments Commission
BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht

This Coinbase review confirms that the platform has obtained the necessary license as per the regulation of the concerned authorities respectively in over forty jurisdictions in the United States. Coinbase has rightfully gained the Money Transmitter license, Sale of Checks license, Seller of Payment Instruments license, and Money Services license to operate legally.

Coinbase follows an intricate verification standard in which every digital asset goes through an extensive review process that meets the necessary security and compliance requirements. As for users, a dedicated KYC is enforced to protect and restrict underage users.

Reputation and Customer Feedback – One of the best platforms

Ten years have passed since Coinbase was founded as a cryptocurrency exchange platform. What started as a medium for buying and selling Bitcoin has become a reputed arena for leveraged crypto trading by budding crypto traders and enthusiasts.

Our Coinbase review found most user testimonials and customer feedback to favor the exchange. Admittedly, the quality of customer service provided by Coinbase is a discouraging factor, but that does not eliminate its many positives that nurture user experience. Altogether, this platform is considered one of the most trusted cryptocurrency exchanges today.

Cryptocurrencies - A decent collection of coins

Let’s get to the most fundamental question in this Coinbase review: What are the cryptocurrencies on Coinbase?

The Coinbase trading platform supports more than 100 different cryptocurrencies. The most common cryptos listed on Coinbase include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • USD Coin (USDC)
  • Avalanche (AVAX)
  • Solana (SOL)

The world of cryptocurrency has frequently faced instances of hacking attacks or fraud committed against users’ wallets for the valuable coins in them. Coinbase took the right step from the beginning to emphasize premium security measures as a common practice to protect these assets. This has saved them from a lot of negative traction. The Coinbase business model shows us that the platform rightfully makes money via the fees it charges for coin trades, interchange fees, sale of software tools, etc.

Coinbase lets you store your cryptocurrency coins in top crypto hardware wallets and trade with them. Each coin is attached to different trading restrictions and withdrawal limits. Cryptocurrencies can be traded for fiat currencies like the U.S. dollar and stable coins like USDT, while some can be converted to or from other cryptocurrencies. So make your jump to Coinbase for the best crypto trade practices.

NFT Trading – A step towards the future

Coinbase operates mainly as an online cryptocurrency trading platform. However, a few assets other than cryptocurrency can be traded through an exchange like Coinbase. For example, NFTs or non-fungible tokens can now be bought, sold, or transferred with the new marketplace introduced by Coinbase. In April 2022, Coinbase launched this new division called Coinbase NFT in its beta mode with a wide range of collections on the Ethereum blockchain. The NFTs, in the form of these digital collectibles, are currently only available on Ethereum since Coinbase NFT is on trial run now. Currently, no transaction fees are being levied for transfers of the curated list of non-fungible tokens.

This new platform for trading NFTs is strategized to reach the ranks of the present digital marketplace giants. Although there are other apps and online communities through which enthusiasts share their thoughts, Coinbase NFT is designed to be more than that, with the perk of trading valuable items. While some exchanges out there function as top crypto lending platforms, our Coinbase review views the platform as a one-stop trading solution for buying, selling, and transferring cryptocurrencies, with the NFT marketplace emerging in success.

Jurisdictions and Limits – A vast network

Coinbase, Inc. is a fully licensed and legally regulated cryptocurrency exchange and trading platform permitted to operate in over 40 jurisdictions in the United States. Each jurisdiction contains a distinct state agency to validate a license for cryptocurrency transactions. Most jurisdictions like Alaska, Colorado, Florida, Michigan, New York, Ohio, Washington, etc., issue a Money Transmitter License for Coinbase to operate in the area. Alabama, Delaware, and Rhode Island are two jurisdictions that publish a Sale of Checks license. Similarly, the state of Georgia requires a Seller of Payment Instruments License for crypto trading practices, while the state of Iowa asks for a Money Services License. However, the disclosures in a few licenses reveal that they do not cover the exchange or transmission of virtual currency in those particular jurisdictions. Particular terms and conditions are laid forth while granting the permission to enforce limitations regarding their trading service.

Fees – Worth a look

It is no secret that Coinbase follows a complex fee structure for its users. Our Coinbase review estimates the trading and transaction fees at Coinbase range from 0.5% to 4.5%, depending on the payment method, cryptocurrency type, transaction size, and platform.

When you make a cryptocurrency transaction on Coinbase, you’ll be charged a spread free and a separate Coinbase fee. While the spread is comparable to the commission or trading fee, the Coinbase Fee is calculated by choosing the greater of a flat fee or percentage value. The flat fee falls in the range of $0.99 to $2.99. The varying fee is decided based on the payment method:

  • 1.49% for U.S. Bank Accounts & Coinbase USD Wallet
  • 3.99% for Debit Card or PayPal
  • Up to 1.5% (minimum $0.55) in case of Instant Card Withdrawal

Product Summary – A top-notch exchange

Coinbase has made its mark in the industry as a game-changer, as called out by every Coinbase review. The intuitive layout, the availability of valuable and trending cryptocurrencies, the acceptance of multiple payment methods, and the presence of a crypto portfolio for smooth trading are a few features that make Coinbase unique. In addition, customer service and fee structure pose a few hitches that need to be fixed but do not affect the quality of results that Coinbase users attain. In conclusion, Coinbase does a solid job with the crypto trading service on its platform, making it a worthwhile choice.

Coinbase
3.8/5
Coinbase Crypto Exchange
T&Cs apply, 18+
Go to Coinbase
Coinbase Highlights
  • Loads of crypto options
  • Airtight security
  • Supports NFT trading

Coinbase review FAQ

👌 Is Coinbase the right exchange for crypto trading?

Coinbase is one of the leading cryptocurrency exchanges in the US. It is expanding every day into more jurisdictions in the US, with all the boxes ticked for licensing and legal procedures. In short, Coinbase is a trading platform trusted by over 56 million users for buying, selling, transferring, and storing cryptocurrency units. You will see that the interface for Coinbase is quick and user-friendly, but it might be a tad difficult to keep track of your additional costs. Take a look at our in-depth Coinbase review to understand the exchange better and find out why it would work for you.

💰 How can I withdraw money from Coinbase?

The payment methods for transactions in Coinbase are structured in a simple manner such that even a new user can quickly get an idea of how to make deposits and withdrawals. In addition, your cash accounts are well protected on Coinbase with high-level encryption standards and verification methods like two-factor authentication. So, you can start by adding bank accounts, PayPal accounts, and debit cards and opening a Coinbase Wallet for storing crypto. Read our review to find out how you can withdraw money from your account in a few clicks.

⚖️ Is Coinbase licensed and regulated?

Coinbase is a cryptocurrency exchange and trading platform with a presence in over 40 jurisdictions in the United States. The license to operate as a cryptocurrency trade-based entity in each jurisdiction is validated accordingly by a distinct state agency like the Securities Commission or Department of Financial Institutions of the state. Our Coinbase review contains a detailed segment on the matters of license and regulation, so read through for more clarity.

🔐 Is my money and crypto-assets safe in a Coinbase account?

Coinbase urges its customers to keep their accounts safe through valid security measures beyond the protocols they have in place. Cryptocurrency exchanges must follow the highest encryption standards for registered accounts. Our Coinbase review clearly states how the trading platform is dedicated to protecting the assets of its users.

📲 How do I contact customer support in Coinbase?

The Coinbase crypto trading platform has multiple customer support options; users can choose the support feature that suits their concerns and get them addressed. Our Coinbase review covers the latest customer support options provided by the exchange for valued customer service.

Conclusion - A clear winner

Coinbase delivers on its word and provides an excellent trading platform for multiple cryptocurrencies. It safely stores customers’ investments on FDIC-secured accounts, allows you to trade crypto using your bank account, and blocks suspicious accounts to ensure user safety. Coinbase may not be able to compete well in comparison to other crypto exchanges with all coins that charge low fees and offer better customer support.

While our Coinbase review discovers that there are such areas of improvement to work on, Coinbase does rise to the standard of being a trustworthy trading platform. From the ease of starting a profile and opening an account to the level of security and encryption that its offline storage boxes guarantee, Coinbase is a clear winner.

Coinbase
3.8/5
Rating
Go to Coinbase
Highlights
  • Loads of crypto options
  • Airtight security
  • Supports NFT trading

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Crypto Exchange
Coinbase
Favicon
3.8/5
  • Loads of crypto options
  • Airtight security
  • Supports NFT trading
Go to Coinbase
PayPal
Bank Transfer
Visa
Mastercard
United States of America
Customers from the US accepted
T&Cs apply, 18+
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Everything Bitcoin

Given its status as the most prolific coin, we’ve naturally ensured extensive coverage of the ins and outs of your options for Bitcoin crypto casinos.

Users must be 18+. If you are having trouble with gambling then help and advice can be found at gambleaware.org

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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