Coinbase

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Why Coinbase?

Coinbase is the regular platform for new users, while Coinbase Pro is for experienced traders. Coinbase Pro offers advanced trading options like crypto-to-crypto trading and advanced charting. Educational videos are available on the platform. The Coinbase customer support channels include email, telephone, and live chat.

Fees

The minimum trade on the Coinbase platform is $2. Investors can expect a transaction fee of up to 1.49% for bank account and USD wallet transfers. Debit/credit card transactions attract a fee of 3.99%. Wire transfers attract a fee of $25 for outgoing transfers, and incoming transfers attract a fee of $10.

Storage

Customer funds are stored in cold storage boxes that are scattered around the world. New users have to submit a government-issued identification when they open a Coinbase account.

We recommend Coinbase because...

Pros & Cons

  • Easy-to-use platform
  • Wide range of cryptocurrencies
  • Top up without fees with Interac e-Transfer
  • Coinbase Earn allows users to earn extra cash
  • Low trading fees for only Coinbase Pro
  • High trading fees
  • Complex fee structure

FAQs about Coinbase

What is Coinbase?

Since 2012, Coinbase has provided a platform to trade cryptocurrency in a far, accessible and efficient way. Their purpose is to encourage economic freedom for people to become financially stable.

Why should I use Coinbase?

There are a lot of reasons why you should use Coinbase. Some examples include:

  1. Access to their Coinbase Card which is a quick and easy way to spend cryptocurrency all over the world.
  2. Access to their 'Build Your Own Portofiol' which allows you to manage your own cryptocurrency portfolio.
  3. Access to their 'Coinbase Earn' feature which provides crypto in Coinbase for every quiz you pass.
  4. Access to their 'Coinbase Wallet' feature which is a custody wallet that allows you to manage all kinds of coins.

How much does Coinbase cost?

Coinbase charges a fee depending on the size of your transaction. For example, the price for those $10 or lower is $0.99, while those between $10 and $25 is $1.49, or those between $25 and $50 is $1.99 and for those between $50 and $200 is $2.99.

How do I get started with Coinbase?

To get started with Coinbase, all you need to do is go on their website and click the 'Get Started' button. Their application process takes a few minutes for which you can link your bank account and start buying and selling instantly.

Is Coinbase safe?

Coinbase has high-quality security with two-step verification and instant freeze to ensure your card is secure. They also have secure storage in place for all digital assets and are protected by cryptocurrency insurance and FDIC insurance.

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