Coinbase Review 2023
|By: Bob Haegele|| |
April 5, 2021
In a nutshell: Coinbase is the leading cryptocurrency exchange platform in the U.S. It’s become synonymous with Bitcoin, but it’s expanded to include a variety of cryptocurrency investing opportunities This advanced trading platform now owns its own stablecoin and powers custodial accounts.
Our Coinbase review shows this is an essential platform for anyone involved in crypto.
|0.5% spread; flat fees $0.99-$2.99||$0||$5 in free Bitcoin|
Coinbase is the leading cryptocurrency exchange platform where you can trade any cryptocurrency imaginable. Although fees can be high, you’re sure to find what you want on Coinbase.
- Large variety of coins
- Simple interface
- High liquidity
- $5 in free Bitcoin
- High fees
- No control over wallet keys
Compare to Other Crypto Trading Platforms
Promo$5 in free Bitcoin
Account Fee$10 per month ($100/yr)
Fees$195 annual fee
Full Coinbase Review
Coinbase is the leading cryptocurrency exchange. It’s become synonymous with the rapid growth of cryptocurrency as an investment asset. With extremely high traffic rates, trading volumes, and liquidity, this is the single best platform for trading cryptocurrency.
Coinbase is best for:
- Crypto traders and investors
- Those who want high liquidity
- Those who want maximum compatibility with other institutions
Do you want to invest your money in cryptocurrency? Coinbase is the leading cryptocurrency exchange. It’s become synonymous with the rapid growth of cryptocurrency as an investment asset. With extremely high traffic rates, trading volumes, and liquidity, this is the single best platform for trading cryptocurrency.
As well as brokerage services, Coinbase also provides custodial accounts for institutions, payment services, and has unveiled its own stablecoin, known as the USD Coin. This is linked to the value of the US dollar.
Read more of our Coinbase review to learn more about how this platform works.
Coinbase at a Glance
Coinbase was one of the pioneers of cryptocurrency trading. Founded in 2012, it’s operated as a basic crypto exchange for almost ten years. It’s since expanded to offer more than 30 different cryptocurrencies, as well as providing other services.
With an array of services and the ability to store tokens, this is the number one platform in which to buy and sell cryptocurrencies, including bitcoin.
Coinbase is a brokerage at heart. However, investors new to cryptocurrency may need some additional help to protect their investments. Our review on Coinbase focuses on the core features every investor needs to know about.
Coinbase cryptocurrencies currently number 32. U.S. customers can trade with an additional four cryptocurrencies if they subscribe to Coinbase Pro. This is a far greater number than competitor platforms like eToro, SoFi Invest, and Robinhood.
Two Trading Platforms
Coinbase is available to U.S. customers in every state other than Hawaii. There are two different trading platforms to take advantage of. These are the original Coinbase platform and Coinbase Pro.
Formerly under the GDAX brand name, Coinbase Pro offers advanced charting, limit, and stop orders. Regular traders are strongly advised to subscribe to Coinbase Pro.
Since many new Coinbase users are also new to cryptocurrency, the platform provides an earn while you learn program. Coinbase Earn enables you to view video classes and take exams as a way to educate yourself on 12 of the major cryptocurrencies offered by the platform.
Newbies who complete the whole Coinbase Earn program can claim more than $115 in free cryptocurrency.
Reviews on Coinbase praise the platform for its high liquidity. However, day traders may experience issues when it comes to the high 0.5% spreads and the flat fees applied to every trade.
Although a flat fee may only be $2.99 maximum, you also need to take into account the payment processing fee. From your Coinbase wallet, this is 1.49% of the total transaction. On the other hand, making payments directly from your credit card commands a 3.99% fee.
Regular traders are strongly advised to subscribe to the Pro version to cut down on their Coinbase fees.
Under the Coinbase Pro model, if your order can be fulfilled immediately you’re charged a “Taker” fee, or if you have to wait you’re charged a “Maker” fee. On purchases of under $10k, both fees are just 0.5%
There are no Coinbase Pro fees since membership is based on your trading volume and overall activity.
Do you have more questions on how Coinbase works? We answer the most common queries below.
Is My Money Safe?
Up to $250,000 is covered under Coinbase’s insurance scheme. However, insurance doesn’t cover any losses caused by breaches of your own individual account. It only covers breaches of the platform itself. To date, Coinbase has never been hacked.
Can I Make Anonymous Transactions?
No. Known as CoinJoins, Coinbase blocks anonymous transactions.
Are There Any Limits on Coin Purchases?
Coinbase limits are very high. Fully verified U.S. customers may purchase up to $50,000 in bitcoin daily, for example.
Is Coinbase Right for You?
The vast majority of reviews on Coinbase believe this is the ultimate cryptocurrency exchange. We have to agree. The fact Coinbase recently became a publicly-traded company means it’s hit the mainstream therefore it has to work even harder to protect customers and their money.
Although the fees can be high, these can be avoided by signing up for Coinbase Pro and selecting the right payment methods. The fact they work to educate their users through Coinbase Earn is another big plus for this trading platform.
If cryptocurrency investing is for you, we believe this is one platform you can’t afford to ignore.
Create an account with Coinbase and get $5 in free bitcoin.