Coinbase review & 28 testimonials for coinbase.com (10.2024)
What is Coinbase in a nutshell?
It's a
trusted,
respectable,
well established,
promising
exchange service
(e-wallet) working with
21
cryptocurrencies:
you can
buy and sell coins using 6
fiat currencies
(8
banks & payment systems are supported).
Exchange service started the business
Jun 2012,
it's a
fully compliant, licensed financial company.
Besides the cryptocurrencies exchange, Coinbase
also provides other services, for example,
ATM Cards,
Merchant Services,
Staking, MasterNodes, etc. (passive income opportunity).
It also offers gifts to the clients!
This service integrated with a number of currencies, banks, and payment systems.
Hence to estimate the fees level we calculated an average fee you'll spend for an exchange here.
Based on this number
(2.25%)
we may say that Coinbase
charges
moderate fees:
1.0% — 3.99%
(in line with our statistics,
92%
exchanges offer lower average fee)
and has
great buying limits:
$2.00
—
$5,000
(even though, in accordance with the statistics we've collected,
134%
exchanges have higher order limits).
This e-wallet
welcomes customers from
39
countries
(including your country: United States!).
It serves the US and allows registrations from
all the
56
states and territories.
On the report of the actual users, customer service is
below average;
while
the exchange is always instant
(or close).
You will have to verify your account
(ID Verification,
Phone Number Confirmation
should be normally required)
before being able to use the service.
Since
2012,
coinbase.com
has got a lot of
great testimonials
from the customers:
just our platform
already has
25
user reviews,
100%
of those are positive.
The majority of the users value the
fast order processing,
usability of the user interface,
whilst blame the
delays with the account verification
most of all.
Our platform assigns the coinbase.com
100/100 rating:
it's
the perfect, an ideal result,
only few competitors have such a high rating!
For example,
Changelly and
Kuna
are ranked below.
Coinbase
has being assigned the special status:
The best e-wallet worldwide!
What does that mean?
Our platform ranks all the exchanges basing on a number of factors:
business model, licenses,
time in the business, customers' testimonials,
complaints (if any), etc.
Then we compare all the leaders in each category (like
e-wallet) to determine
who's the
best-of-the-best.
Hence, we are pleased to say that Coinbase is
exactly the one!
Based on all these facts,
our verdict is the following:
Coinbase is a
100%
legit and
perfectly safe
place to
buy and sell
cryptocurrencies,
almost an ideal exchange with great feedback we can recommend to our dear visitors!
Overview: is Coinbase safe?
Coinbase
is the
e-wallet;
Coinbase, Inc.
(dba Coinbase)
started the business in
June 2012.
The company is based in the United States
with the headquarters located in the San Francisco.
Official Coinbase address is 548 Market St #23008 San Francisco, CA 94104.
The firm is a licensed MSB, regulated by the FinCEN;
it holds the
Money Transmission license.
FINCEN
registration number 31000159729658.
Coinbase was founded by Brian Armstrong & Fred Ehrsam.
Union Square Ventures, Andreessen Horowitz, Ribbit Capital, etc.
are among the lead investors.
Coinbase CEO is
Brian Armstrong;
other notable people are holding various positions in firm, for example Gavin Andresen (Advisor).
It's one of the biggest and most popular exchanges in the world with millions of customers worldwide; a "unicorn" — business valued over a billion USD. Non-US clients are served by the UK-based entity, authorized by the FCA.
Coinbase has a long history, it started the business as bitcoin brokerage (one of the first in the US and worldwide), adding a number of other services along the way. It's extremely popular in the US and is one of the most trusted exchanges worldwide.
Answering the question how safe is
Coinbase:
Coinbase is perfectly safe!
100/100 rating
is really hard to get,
only a few competing services have such a high rating!
Let's break down how the Coinbase exchange got such a rating.
Overall rating for Coinbase:
100 / 100
Pros & Cons of Coinbase
Since Coinbase is rated
as one of the best exchanges in the world
by our visitors,
there should be many strong sides clients admire and probably some downsides anyway.
Let's check it out:
- It's very stable and reliable exchange service operating from 2012.06. Fully compliant and regulated business, service provided by licensed financial company.
- Coinbase earned perfect testimonials from the clientele.
- 21 digital currencies and 6 fiat ones are supported: definitely a good choice! 8 payment systems and banks are supported, both international and national ones: Visa & Mastercard, Any Local Bank, SEPA Transfer, etc.
- Fees are relatively low.
- High purchase and withdrawal limits, convenient min/max amounts.
- Many countries are not supported, please check if yours is in this list before registering!
- Account verification can take a long time; (due to the results of polls taken from the clients).
- E-wallet utilizes a business model based on holding the clients funds at the online wallet; such approach has some risks.
Seems that there are not so many cons, but a lot of pros.
We hope you will enjoy your experience exchanging at Coinbase!
Try Coinbase today
and let us know how you like it!
Services, Coinbase Provides
The platform provides the following cryptocurrency exchange-related services:
- Allows the customers to buy cryptocurrencies with fiat currencies
- Provides the clients with ways to "cash out" the crypto to fiat currency
- Issues ATM cards (debit cards) you can load with coins to shop with cryptocurrency, etc.
- Provides merchant services (accepting cryptocurrency at e-stores, etc.)
- And other ones! The full list:
ATM Cards,
Merchant Services and
Staking, MasterNodes, etc. (passive income opportunity).
That's impressive number of features!
According to our statistics,
92%
of the competition provide less services,
many just allow the buying and selling, so this
e-wallet
is among the champions in this field!
Currencies & Payment Systems
Coinbase provides the service of
buying and selling
21 digital currencies
using fiat currencies.
The following cryptocurrencies are available to
buy/sell:
Aave (AAVE),
Bitcoin Cash (BCHABC),
Bitcoin (BTC),
MakerDAO (DAI),
Dogecoin (DOGE),
EOS (EOS),
Ether Classic (ETC),
Ether (ETH),
Filecoin (FIL),
Internet Computer (ICP),
Chainlink (LINK),
Litecoin (LTC),
Polygon (MATIC),
SKALE (SKL),
SushiSwap (SUSHI),
Uniswap (UNI),
USD Coin (USDC),
Wrapped Bitcoin (WBTC),
Stellar (XLM),
Zcash (ZEC),
0x (ZRX).
There are not much exchanges with so many cryptos supported!
If you are not sure, which one of these electronic currencies you are most interested in, you are welcome to read our guides.
For example, these:
Cryptocurrencies without proof of work to buy in 2024.
6 fiat currencies
are supported to provide crypto purchase and selling:
Australian Dollar (AUD),
Canadian Dollar (CAD),
Euro (EUR),
Pound Sterling (GBP),
Singapore Dollar (SGD),
US Dollar (USD).
The e-wallet will let you buy and sell Bitcoins
and 20 other cryptos
using the following payment systems:
-
Visa & Mastercard.
An international payment system
(available worldwide)
allowing credit/debit cards payments
in various currencies.
AUD,
CAD,
EUR,
SGD,
GBP and
USD
payments are available for
both buying and selling cryptocurrencies at this exchange.
Visa & Mastercard is a popular way to buy BTC and other cryptocurrencies available at
7 exchanges of various types.
You are welcome to find the best rate for
buying bitcoin with visa & mastercard
at our home page!
-
Any Local Bank.
An universal payment method, allowing payments from/to all the banks
in various currencies.
coinbase.com has options to use local bank transfers in the
United States.
Just the USD
payments are available for
both buying and selling cryptocurrencies at this exchange.
-
SEPA Transfer.
An international payment system
(it's available in 46 countries)
allowing international bank transfers payments
in Euro currency.
Just the EUR
payments are available for
both buying and selling cryptocurrencies at this exchange.
-
Paypal.
An international payment system
(it's available in 232 countries)
allowing e-wallet payments
in various currencies.
EUR,
USD,
CAD and
GBP
payments are available for
selling cryptocurrency to fiat solely; at the time you can't buy crypto using this payment method here.
-
Faster Payments.
A local bank
(serving United Kingdom)
in Pound Sterling currency.
Just the GBP
payments are available for
both buying and selling cryptocurrencies at this exchange.
-
SWIFT Transfer.
An international payment system
(available worldwide)
allowing international bank transfers payments
in various currencies.
Just the USD
payments are available for
both buying and selling cryptocurrencies at this exchange.
-
SOFORT (Klarna).
A local bank
(it's available in 13 countries)
in various currencies.
Just the EUR
payments are available for
purchasing cryptos at the exchange.
-
iDEAL.
A local bank
(serving Netherlands)
in Euro currency.
Just the EUR
payments are available for
purchasing cryptos at the exchange.
Coinbase fees
The fees you need to pay at this e-wallet during the process of
buying and selling cryptocurrencies
are easier to understand if you break it down like that
(note that you can skip the details,
jumping to the conclusion):
-
Deposit/withdrawal fee.
Depending on the fiat payment system and currency, it's as follows:
-
1.49%
(but not less than
$1.49)
to deposit funds by
Any Local Bank
in
US Dollar.
-
Commission for the money withdrawal to
Any Local Bank
in
US Dollar:
1.49%
(but not less than
$1.49)
-
1.49%
to deposit funds by
Faster Payments
in
Pound Sterling.
-
Commission for the money withdrawal to
Faster Payments
in
Pound Sterling:
1.49%
+ £1.0
(but not less than
£1.49)
-
1.49%
to deposit funds by
iDEAL
in
Euro.
-
Commission for the money withdrawal to
Paypal
in
Pound Sterling:
1.49%
(but not less than
£1.49)
-
Commission for the money withdrawal to
Paypal
in
Euro:
1.49%
-
Commission for the money withdrawal to
Paypal
in
US Dollar:
1.49%
-
Commission for the money withdrawal to
Paypal
in
Canadian Dollar:
1.0%
-
1.49%
to deposit funds by
SEPA Transfer
in
Euro.
-
Commission for the money withdrawal to
SEPA Transfer
in
Euro:
1.49%
+ 0.15
(but not less than
1.49)
-
1.49%
to deposit funds by
SEPA Transfer
in
Euro.
-
Commission for the money withdrawal to
SEPA Transfer
in
Euro:
1.49%
+ €0.15
-
1.49%
to deposit funds by
SOFORT (Klarna)
in
Euro.
-
1.49%
+ $10.0
to deposit funds by
SWIFT Transfer
in
US Dollar.
-
Commission for the money withdrawal to
SWIFT Transfer
in
US Dollar:
1.49%
+ $25.0
-
3.99%
(but not less than
$1.49)
to deposit funds by
Visa & Mastercard
in
US Dollar.
-
3.99%
(but not less than
1.49)
to deposit funds by
Visa & Mastercard
in
Canadian Dollar.
-
Commission for the money withdrawal to
Visa & Mastercard
in
Euro:
2.0%
+ €0.55
-
3.99%
to deposit funds by
Visa & Mastercard
in
Mexican Peso.
-
3.99%
to deposit funds by
Visa & Mastercard
in
Chilean Peso.
-
3.99%
(but not less than
1.49)
to deposit funds by
Visa & Mastercard
in
Australian Dollar.
-
3.99%
(but not less than
€1.49)
to deposit funds by
Visa & Mastercard
in
Euro.
-
3.99%
(but not less than
£1.49)
to deposit funds by
Visa & Mastercard
in
Pound Sterling.
-
3.99%
(but not less than
1.49)
to deposit funds by
Visa & Mastercard
in
Singapore Dollar.
-
Commission for the money withdrawal to
Visa & Mastercard
in
US Dollar:
1.5%
+ $0.55
-
Commission for the money withdrawal to
Visa & Mastercard
in
Pound Sterling:
2.0%
+ £0.55
-
Cryptocurrency withdrawal fee.
Please note that this fee applies only when you
transfer the crypto out of this wallet: to the third party, etc.
- the usual transaction fee in the according crypto, when you are buying:
AAVE,
BCHABC,
BTC,
DAI,
DOGE,
EOS,
ETC,
ETH,
FIL,
ICP,
LINK,
LTC,
MATIC,
SKL,
SUSHI,
UNI,
USDC,
WBTC,
XLM,
ZEC,
ZRX.
-
0 BTC:
great news! at the moment there is no such a fee!
Are Coinbase fees high or low?
Now it's time to draw a conclusion:
considering the average fee the exchange charges for an operation we can state that
Coinbase
charges moderate fees.
According to our statistics,
most of the exchanges charges about the same fees
Coinbase does.
For example, an average fee you pay to buy Bitcoin with Visa & Mastercard
in USD
across various exchange brokers, trading platforms, p2p marketplaces and e-wallets is
1%,
coinbase.com charges 3.99%
for this.
Seems fair.
Buying and selling limits
This e-wallet has the following limits,
applicable when you buy or sell cryptocurrencies:
-
Purchase limits (when you buy crypto).
-
$2
minimal buy and
$25,000
max purchase
when using Any Local Bank in
US Dollar.
-
£2
minimal buy and
£25,000
max purchase
when using Faster Payments in
Pound Sterling.
-
€1
minimal buy and
€10,000
max purchase
when using iDEAL in
Euro.
-
EUR 2
minimal buy and
EUR 25,000
max purchase
when using SEPA Transfer in
Euro.
-
€1
minimal buy and
€50,000
max purchase
when using SEPA Transfer in
Euro.
-
€1
minimal buy and
€10,000
max purchase
when using SOFORT (Klarna) in
Euro.
-
$2
minimal buy and
$25,000
max purchase
when using SWIFT Transfer in
US Dollar.
-
$2
minimal buy and
$5,000
max purchase
when using Visa & Mastercard in
US Dollar.
-
CAD
2
minimal buy and
CAD
5,000
max purchase
when using Visa & Mastercard in
Canadian Dollar.
-
MXN
2
minimal buy and
USD
10,000
max purchase
when using Visa & Mastercard in
Mexican Peso.
-
CLP
2
minimal buy and
USD
5,000
max purchase
when using Visa & Mastercard in
Chilean Peso.
-
AUD
2
minimal buy and
AUD
5,000
max purchase
when using Visa & Mastercard in
Australian Dollar.
-
€2
minimal buy and
€5,000
max purchase
when using Visa & Mastercard in
Euro.
-
£2
minimal buy and
£5,000
max purchase
when using Visa & Mastercard in
Pound Sterling.
-
SGD
2
minimal buy and
SGD
5,000
max purchase
when using Visa & Mastercard in
Singapore Dollar.
-
Withdrawal limits (when you out-exchange crypto to the fiat money).
-
$2
min and
$25,000
maximal withdrawal
when receiving money to Any Local Bank in
US Dollar.
-
£2
min and
£25,000
maximal withdrawal
when receiving money to Faster Payments in
Pound Sterling.
-
£2
min and
£6,500
maximal withdrawal
when receiving money to Paypal in
Pound Sterling.
-
€1
min and
€7,500
maximal withdrawal
when receiving money to Paypal in
Euro.
-
$2
min and
$10,000
maximal withdrawal
when receiving money to Paypal in
US Dollar.
-
CAD
1
min and
CAD
12,000
maximal withdrawal
when receiving money to Paypal in
Canadian Dollar.
-
EUR 2
min and
EUR 25,000
maximal withdrawal
when receiving money to SEPA Transfer in
Euro.
-
€1
min and
€50,000
maximal withdrawal
when receiving money to SEPA Transfer in
Euro.
-
$2
min and
$25,000
maximal withdrawal
when receiving money to SWIFT Transfer in
US Dollar.
And the good news: there are no limits on other payment systems
(the limitations the payment system has aside)
Coinbase supports!
Comparing to other exchanges,
Coinbase has a very convenient buying/selling limits setup;
the minimal amount is tiny and the max is high.
Whatever amount you have in mind, you can exchange it at this e-wallet!
Supported countries
Platform allows the users from 39
countries to use the exchange.
The following countries are supported by the e-wallet:
-
Andorra
(AD)
-
Australia
(AU)
-
Austria
(AT)
-
Belgium
(BE)
-
Bulgaria
(BG)
-
Canada
(CA)
-
Chile
(CL)
-
Croatia
(HR)
-
Cyprus
(CY)
-
Czech Republic
(CZ)
-
Denmark
(DK)
-
Finland
(FI)
-
Gibraltar
(GI)
-
Greece
(GR)
-
Guernsey
(GG)
-
Hungary
(HU)
-
Iceland
(IS)
-
Ireland
(IE)
-
Isle of Man
(IM)
-
Italy
(IT)
-
Latvia
(LV)
-
Liechtenstein
(LI)
-
Lithuania
(LT)
-
Malta
(MT)
-
Mexico
(MX)
-
Monaco
(MC)
-
Netherlands
(NL)
-
Norway
(NO)
-
Poland
(PL)
-
Portugal
(PT)
-
San Marino
(SM)
-
Singapore
(SG)
-
Slovakia
(SK)
-
Slovenia
(SI)
-
Spain
(ES)
-
Sweden
(SE)
-
Switzerland
(CH)
-
United Kingdom
(GB)
-
United States
(US)
Does Coinbase allow the users from United States (US)?
Yes,
coinbase.com allows the registrations from the United States!
E-wallet permits the users from
56 states and territories
to register at and use the services exchange provides:
- Alabama (AL)
- Alaska (AK)
- American Samoa (AS)
- Arizona (AZ)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- District of Columbia (DC)
- Florida (FL)
- Georgia (GA)
- Guam (GU)
- Hawaii (HI)
- Idaho (ID)
- Illinois (IL)
- Indiana (IN)
- Iowa (IA)
- Kansas (KS)
- Kentucky (KY)
- Louisiana (LA)
- Maine (ME)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- Minnesota (MN)
- Mississippi (MS)
- Missouri (MO)
- Montana (MT)
- Nebraska (NE)
- Nevada (NV)
- New Hampshire (NH)
- New Jersey (NJ)
- New Mexico (NM)
- New York (NY)
- North Carolina (NC)
- North Dakota (ND)
- Northern Mariana Islands (MP)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Puerto Rico (PR)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Texas (TX)
- U.S. Virgin Islands (VI)
- Utah (UT)
- Vermont (VT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wisconsin (WI)
- Wyoming (WY)
It's possible to use the USD currency to buy/sell
21 cryptocurrencies
at the Coinbase:
4 banks and payment systems totally
(out of the 8
the e-wallet supports,
that's 50% of all the available ones)
can be used by people from the U.S.A.:
-
Any Local Bank
-
Paypal
— please note — just the withdrawals to this payment system are available at the moment!
-
Visa & Mastercard
-
SWIFT Transfer
Customer service
Sorry, but we haven't collected enough data about this yet.
Do you have any experience exchanging with the Coinbase?
Can you please
add your testimonial?
This will help everyone a lot, thanks!
Verification at Coinbase
The e-wallet requires it's clients to pass through obligatory user identification
(account verification).
The following procedures
should be completed before the client will be able to
buy and sell on the exchange:
-
ID verification
-
Phone confirmation
According to the data submitted by the customers with the reviews and testimonials, the
average time the account verification takes is
no less than a couple of days.
The feedback is the following:
Looks like this exchange is among the slowest ones in the field.
But remember,
you have to pass through the user identification only once!
Deposit/withdrawal speed
Although the exchange process is fully automated on any e-wallet or trading platform,
you may face some delay when you send the money "outside",
i.e. say you are withdrawing the BTC you purchased to your personal wallet.
Let's see what other cryptocurrency enthusiasts say about how fast is coinbase.com!
Is Coinbase instant?
So, what can we see?
According to the feedback we got from other users of this e-wallet worldwide,
Coinbase is instant:
money arrives right after you order it all the time.
That's great to know!
Customers' testimonials
Our users left 25
testimonials about their experience dealing with Coinbase,
96% of the testimonials are positive,
4% are neutral
and there are
0
negative ones.
Feel free to read as many of these as you like!
Bought ETH few times, smooth transactions on all occasions
worked OK, exchanged $500 today, 5* service
My favorite exchange and wallet. The most trusted in the US. ✌
Use it for years, zero issues so far. It's a most trusted service I used in the industry! 👍🏿
One of the exchanges I used almost since my day one in crypto. What can I say, it's super reliable for sure. Such huge companies won't steal from customers )) The support is far from good though, seems they have TOO MUCH clients to serve them all.
KYC can also be ridiculous like "you use your money for gambling => BANNED". But if you just need fast buy/sell option and your country is supported. IT'S ALMOST PERFECT ONE! 👍 just remember that the support is bad, hopefully you won't need it )
Satoshi N.,
72
testimonials
@ 24 Dec 2019
Used this one and Coinbae Pro also, not bad but there are better ones IMO. But if you are just startin with crypto and stuff, this is a smart choice
CACHORRO D.,
1
testimonials
@ 18 Oct 2019
Support may be some slow in case of responding time to tickets and verification time but also very helpful. All my purchases and cashouts were done without troubles. Thank you!
there are plenty of exchanges for aussies, but this is one of tops! limits are good at least for my case and everything is fast
Once it was the best exchange for me, now just OK but I found better. What I like is the design and interface and what I don't - slow support and rather small limits. The fees are reasonable.
Cool exchange for CAD, one of the best I ever tried bro! 🙏 Thank you for amazing service!
I used this exchange several times and have never had a problem. All my transactions, crypto and fiat, have completed rapidly, never had to contact support. Account verification was also rather fast
Wallet is good. Bad is that India is not supported country to add money! I wish one day to see us in the list
Nice wallet and good deposit options. My choice, I recommend to all!
I bought my first sats here. Good wallet for a noob! Safe and easy
Hustler S.,
3
testimonials
@ 30 Sep 2019
Trusted exchange, but customer support is slow as a sloth. Or worse? Good that I have no problems, but when you need to ask smth, it may result in a looooong wait.
One of the best exchange sites web I ever tried. Works perfect for me!
Spancho B.,
1
testimonials
@ 26 Sep 2019
Coinbase has one of the lowest fees when you buy BTC with your Visa or MasterCard debit or credit card. I am not sure they accept prepaid and gift cards but if your card has a name on it and it's yours 😁 Coinbase will be great choice.
Good one. No need to store money here especially if you are goin to spend it for something you won't tell everyone or your momma 😅 but to buy with your card this is one of the best!!!
Good exchange. Everything is cool but the support is unbeliaveably slow and sometimes too mush questions asked. I've heard you can wait for weeks! In my case it was days, very bad result anyway. They also love to block accounts when you gamble etc. Why I can't spend my own money for something I like. AND WHY YOU EVEN CARE HOW I SPEND MY COINS?? What's wrong with you people?? 🥶
Moises Fedor G.,
1
testimonials
@ 22 Sep 2019
It was my first wallet when I started use cryptocurrencies. Very easy to start and deposit money. Some people say their support is awful, but honestly, why would you even need it?? Everything works well so I dunno, there is no need in anything else. I vouch for Coinbase, it's one of the best crypto wallets and the best one with fiat deposits!
Coinbase is a very good service if you just buy coins here and transfer to some wallet of your choice. Just remember that and you'd love the coinbase like I do!
Shaman! 8.,
1
testimonials
@ 16 Sep 2019
I use it for a while buying some BTC with my MasterCard. All works perfectly, thanks !!!
Anonymous user,
?
testimonials
@ 15 Sep 2019
No more testimonials to show.
The rest are either outdated or written in other languages.
If you have any experience dealing with Coinbase, can you please
leave your testimonial?
Thanks!
Overall result if great!
100% positive testimonials is something the business owners are very proud of,
such a rating is hard to get and even harder to maintain!
It means the community really trusts and likes the Coinbase
services, so most likely, you'd enjoy it too!
FAQ about Coinbase
Does Coinbase holds my funds?
Yes, it does. Although you can always withdraw the funds to your e-currency wallet "by default" Coinbase holds your balance at it's own hot storage wallet. That's something all e-wallet providers do; it's their main purpose, after all!
Is Coinbase a good e-wallet?
According to our rating and the clients' testimonials, it is! Feel free to get acquainted with the details reading this review or just jump to the conclusion!
Is Coinbase licensed? Does it hold e-money license?
Yes, Coinbase, Inc. (entity doing business as Coinbase exchange) is licenced and regulated financial company. It holds Money Transmission license and is regulated by the FinCEN of the United States.
Is Coinbase registered with the FINCEN?
Yes, Coinbase, Inc. aka Coinbase is registered with the U.S. Financial Intelligence Unit as Money Services Business (MSB); FinCEN registration number is 31000159729658.
Does Coinbase provide a debit card (ATM card)?
Yes, Coinbase provides such a card, you can get one if you are residing in any of the supported countries.
Does Coinbase provide services for the merchants willing to accept crypto?
It is! You may accept payments in all the cryptocurrencies supported by the Coinbase and get paid in fiat or your preferred crypto.
Is Coinbase a ripoff?
It definitely isn't! Feel free to read the whole this review to understand why or check our conclusion: is Coinbase legit or scam.
Is Coinbase FDIC Insured?
If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000. Please note that the insurance won't cover the loses resulting from from unauthorized access to your personal account(s).
Coinbase vs other exchanges
Let's compare coinbase.com to other similar exchange services with more or less the same features: others of e-wallet type mostly.
Besides, seems reasonable to compare the platform with the exchanges having similar rating and serving (mostly) the same geographic, etc.
Remember that if you wish to find the exchange offering the best price to buy/sell Bitcoin and
50 other cryptos, check
the best rates to buy bitcoin and crypto in United States!
Coinbase vs CEX
Let's compare the key features of these two platforms to see which one suits you best:
-
CEX is a trading platform
Coinbase is an e-wallet,
it has a different business model
(feel free to read about the
differences between
trading platform and e-wallet)
-
CEX had started the business July 2014
Coinbase started the business June 2012
(Coinbase operates
2 years and 1 months longer).
-
cex.io has all the required business licenses and permissions
Coinbase has all the required business licenses and permissions
(both exchange services operate using the same approach to the business, utilizing a same legal model).
-
Besides buying, selling and exchanging cryptocurrencies,
cex.io provides the following extra services:
Lending,
Margin Trading,
Faucets (small amounts of cryptos for free) and the
Staking, MasterNodes, etc. (passive income opportunity)
Coinbase provides us with less services, related to the crypto exchange:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards,
Merchant Services and the
Staking, MasterNodes, etc. (passive income opportunity).
-
CEX supports 29
cryptocurrencies and tokens
Coinbase allows to swap
21
cryptos
(Coinbase
works with
8
cryptocurrencies & tokens fewer).
-
3
fiat currencies are available on
cex.io website
You'll be able to use
6
national currencies to swap with digital ones at
Coinbase
(Coinbase
supports
3
fiat currencies more).
-
CEX accepts deposits from and allows withdrawals to
8 fiat payment systems / banks
Coinbase allows the user to utilize 8
various fiat payment systems and/or banks
(Coinbase & CEX
support the same number of banks and payment systems).
-
CEX charges
0.3% — 3.99%
fee
Coinbase charges the client
1.0% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
CEX offers no gifts to the customers, cashback is also not available
Coinbase offers gifts to the customers
(Coinbase & CEX
both provide the same bonuses for customers).
-
Buying limits at CEX start from
$20.00 and are up to $10,000
Deposit/withdraw limits at Coinbase are
$2.00 — $5,000
depending on the payment method
(Coinbase
has lower buying/selling limits).
-
CEX allows registrations from 224 countries;
United States is among the supported ones
You may register at Coinbase if you reside in one of 39 countries;
it serves United States among others
(Coinbase
supports less countries).
-
During the account verification CEX
usually asks for 3
documents and/or procedures
(id verification,
phone confirmation,
selfie)
and it takes
no less than a couple of days
in most of the cases
User identification at Coinbase
usually consists of 2
different procedures:
id verification,
phone confirmation
and the process usually takes
no less than a couple of days
(Coinbase's KYC, AML, etc programs and policies permit a user to finish fewer procedures, to share reduced personal information).
-
Due to results of community feedback, CEX process deposit/withdrawal orders in about
in couple of minutes
(although the exchange is instant)
Due to results of community feedback, Coinbase process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay; everything is automated
(Coinbase
processes deposits and withdrawals faster
-
Our users left 27
testimonials about CEX,
100%
of which are positive
We've collected 25
users testimonials about Coinbase,
96%
are positive
(Coinbase & CEX
was rated lower by the community).
Although the final decision, which exchange —
CEX or Coinbase — is better
is up to you, we'll try to help you with the decision.
Both exchanges are great,
since both exchanges are equally rated,
we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Coinbase vs Changelly
Let's compare the key features of these two platforms to see which one suits you best:
-
Changelly is a broker
Coinbase is an e-wallet,
it has a different business model
(feel free to read about the
differences between
broker and e-wallet)
-
Changelly had started the business December 2013
Coinbase started the business June 2012
(Coinbase operates
1 years and 6 months longer).
-
Changelly is an ordinary company without licenses, etc.
Coinbase has all the required business licenses and permissions
(Coinbase utilizes a safer and more stable business model).
-
Besides buying, selling and exchanging cryptocurrencies,
Changelly provides no extra services
Coinbase provides more exchange-related services:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards,
Merchant Services and the
Staking, MasterNodes, etc. (passive income opportunity).
-
Changelly supports 43
cryptocurrencies and tokens
Coinbase allows to swap
21
cryptos
(Coinbase
works with
22
cryptocurrencies & tokens fewer).
-
34
fiat currencies are available on
changelly.com website
You'll be able to use
6
national currencies to swap with digital ones at
Coinbase
(Coinbase
supports
28
fiat currencies less).
-
Changelly accepts deposits from and allows withdrawals to
1 fiat payment systems / banks
Coinbase allows the user to utilize 8
various fiat payment systems and/or banks
(Coinbase
supports 7 fiat payment systems and banks more).
-
Changelly charges
7.25%
fee
Coinbase charges the client
1.0% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase & Changelly
charge the customer with the equal fee level, more or less).
-
Changelly offers no gifts to the customers, cashback is also not available
Coinbase offers gifts to the customers
(Coinbase & Changelly
both provide the same bonuses for customers).
-
Buying limits at Changelly start from
$30.00 and are up to $12,000
Deposit/withdraw limits at Coinbase are
$2.00 — $5,000
depending on the payment method
(Coinbase
has lower buying/selling limits).
-
Changelly allows registrations from 242 countries;
we are sorry, but United States is not supported this time
You may register at Coinbase if you reside in one of 39 countries;
it serves United States among others
(Coinbase
supports less countries).
-
During the account verification Changelly
usually asks for 2
documents and/or procedures
(id verification,
address confirmation)
User identification at Coinbase
usually consists of 2
different procedures:
id verification,
phone confirmation
and the process usually takes
no less than a couple of days
(While Changelly
agrees on certain exceptions granting no verification for specific orders,
Coinbase follows the stricter rules and sets more restrictions).
-
Due to results of community feedback, Changelly process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay; everything is automated
Due to results of community feedback, Coinbase process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay; everything is automated
(Coinbase & Changelly
process the deposits and withdrawals with equal speed).
-
Our users left 17
testimonials about Changelly,
94%
of which are positive
We've collected 25
users testimonials about Coinbase,
96%
are positive
(Coinbase
has better testimonials from the clients).
Although the final decision, which exchange —
Changelly or Coinbase — is better
is up to you, we'll try to help you with the decision.
Both exchanges are great,
although Coinbase has a better total rating
100 vs Changelly's 84,
we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Coinbase vs Kuna
Let's compare the key features of these two platforms to see which one suits you best:
-
Kuna is a trading platform
Coinbase is an e-wallet,
it has a different business model
(feel free to read about the
differences between
trading platform and e-wallet)
-
Kuna had started the business January 2016
Coinbase started the business June 2012
(Coinbase operates
3 years and 6 months longer).
-
Kuna is an ordinary company without licenses, etc.
Coinbase has all the required business licenses and permissions
(Coinbase utilizes a safer and more stable business model).
-
Besides buying and selling cryptocurrencies,
kuna.io provides the following extra services:
Cash codes
Coinbase provides more exchange-related services:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards,
Merchant Services and the
Staking, MasterNodes, etc. (passive income opportunity).
-
Kuna supports 1
cryptocurrency
Coinbase allows to swap
21
cryptos
(Coinbase
additionally works with
20
added cryptocurrencies/tokens).
-
3
fiat currencies are available on
kuna.io website
You'll be able to use
6
national currencies to swap with digital ones at
Coinbase
(Coinbase
supports
3
fiat currencies more).
-
Kuna accepts deposits from and allows withdrawals to
7 fiat payment systems / banks
Coinbase allows the user to utilize 8
various fiat payment systems and/or banks
(Coinbase
supports 1 fiat payment systems and banks more).
-
Kuna charges
1.0% — 3.0%
fee
Coinbase charges the client
1.0% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
Kuna offers no gifts to the customers, cashback is also not available
Coinbase offers gifts to the customers
(Coinbase & Kuna
both provide the same bonuses for customers).
-
Buying limits at Kuna start from
$1.00 and are up to $10,000
Deposit/withdraw limits at Coinbase are
$2.00 — $5,000
depending on the payment method
(Coinbase
has lower buying/selling limits).
-
Kuna allows registrations from 251 countries;
we are sorry, but United States is not supported this time
You may register at Coinbase if you reside in one of 39 countries;
it serves United States among others
(Coinbase
supports less countries).
-
Kuna allows the user to be anonymous, there is no account verification, etc.
User identification at Coinbase
usually consists of 2
different procedures:
id verification,
phone confirmation
and the process usually takes
no less than a couple of days
(Unlike kuna.io that agrees to serve anonyms,
Coinbase abides certain KYC, AML/CTF policies, there's an account verification)
-
Due to results of community feedback, Kuna process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay; everything is automated
Due to results of community feedback, Coinbase process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay; everything is automated
(Coinbase & Kuna
process the deposits and withdrawals with equal speed).
-
Our users left 4
testimonials about Kuna,
100%
of which are positive
We've collected 25
users testimonials about Coinbase,
96%
are positive
(Coinbase & Kuna
was rated lower by the community).
Although the final decision, which exchange —
Kuna or Coinbase — is better
is up to you, we'll try to help you with the decision.
Both exchanges are great,
although Coinbase has a better total rating
100 vs Kuna's 84,
we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Conclusion: is Coinbase legit or scam?
Now it's time to draw a conclusion, is coinbase.com a scam or is it a legit exchange?
We are 100% sure Coinbase is the
most trusted and absolutely legit exchange platform
with an outstanding reputation in the crypto community; one of
the industry leaders. There is no way it can be even considered to be called a scam!
Let's summarize what we like most (and what we don't) about the Coinbase:
- It is licensed, regulatory compliant financial company
- The e-wallet holds users' funds
- This company has being in the business for a long time;
exchange was started
12 years
and
4 months
ago
- Exchange supports
21 cryptocurrencies
and 6
fiat ones
(totally 8
payment systems / banks are available).
Besides buying, selling and exchanging digital currencies, the following services are available:
ATM Cards,
Merchant Services and
Staking, MasterNodes, etc. (passive income opportunity)
- It charges moderate fees:
from 1.0%
to 3.99%
depending on the payment method;
although the exchange of smaller amounts is rather inexpensive
- The purchase and withdrawal limits are high and you may exchange small amounts, if you wish to:
from $2.00
to $5,000 USD,
it depends on a payment system choice
- Coinbase
allows registrations from 39 countries;
people from United States
may use the service
- Exchange will gift you free money on certain conditions.
- Clients' testimonials are perfect,
100% (25 out of
25) note their positive experience dealing with Coinbase.
According to the customers feedback:
- Deposits and withdrawals are instant
- Verification is not very fast
Coinbase is without any doubt, legit and safe. Although as any big business, there are complaints; in this case, most of these are blaming the customer service and rigorous Know Your Customer (KYC) process with many questions asked. If you don't mind these and if your country is supported, Coinbase is an excellent choice!
Last but not least, according to our rating and the feedback from the
Coinbase clientele, we consider it as
"The best e-wallet worldwide!"
That means the platform really
stands out from the
333 exchange services we monitor;
our ranking algorithms and the input we got from the actual exchange customers confirm that.
With all the features and positive reviews, it's obvious why
Coinbase has been so successful
for 12+ years
and we invite you to check out by yourself!
Overall rating for Coinbase:
100 / 100