Coinbase review & 23 testimonials for coinbase.com (01.2021)
What is Coinbase in a nutshell?
It's a
trusted,
respectable,
well established,
promising
exchange service (e-wallet) supporting
10
cryptocurrencies:
you can
buy and sell coins using 6
fiat currencies
(4
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.
This service works 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
(2.56%)
we may say that Coinbase
charges
moderate fees:
1.49% — 3.99%
(according to our statistics,
50%
exchanges take higher average fee)
and has
great buying limits:
$2 — $5,000
(in accordance with the statistics we've collected,
70%
exchanges allow lower limits for orders).
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.
According to the feedback from users, customer service is
below average;
although
the exchange is always instant
or so.
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
has got a lot of
nice testimonials
from the customers: just our platform,
already has
23 user reviews,
96% of those are positive.
The majority of the users value the
fast order processing,
usability of the user interface,
although blame the
delays with the account verification,
most of all.
Our platform assigns the Coinbase
100/100 rating:
it's
the perfect, an ideal result,
only few competitors have such a high rating!
For example,
Wirex and
EXMO
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 got some nice testimonials from the customers.
- 10 digital currencies and 6 fiat ones are supported: definitely a good choice! 4 payment systems and banks are supported, both international and national ones: Visa & Mastercard, Paypal, Any Local Bank, 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 business model is 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.)
That's impressive number of features!
According to our statistics,
93%
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
10 digital currencies
using fiat currencies.
The following cryptocurrencies are available to
buy/sell:
Bitcoin Cash (BCHABC),
Bitcoin (BTC),
EOS (EOS),
Ether Classic (ETC),
Ether (ETH),
Litecoin (LTC),
USD Coin (USDC),
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:
Most obscure cryptocurrencies to invest in 2021.
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 9 other cryptos
using the following payment systems:
-
Visa & Mastercard.
An international payment system
(available worldwide)
allowing credit/debit cards payments
in various currencies.
EUR,
SGD,
USD,
CAD,
AUD and
GBP
payments are available for
purchasing cryptos at the exchange.
Visa & Mastercard is a popular way to buy BTC and other cryptocurrencies available at
18 exchanges of various types.
You are welcome to find the best rate for
buying bitcoin with visa & mastercard
at our home page!
-
Paypal.
An international payment system
(it's available in 232 countries)
allowing e-wallet payments
in various currencies.
USD and
GBP
payments are available for
selling cryptocurrency to fiat solely; at the time you can't buy crypto using this payment method here.
-
Any Local Bank.
An universal payment method, allowing payments from/to all the banks
in various currencies.
Coinbase has options to use local bank transfers in the
United Kingdom and
United States.
USD and
GBP
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.
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:
-
Commission for the money withdrawal to
Any Local Bank
in
Pound Sterling:
1.49%
+ £1.0
(but not less than
£1.49)
-
Commission for the money withdrawal to
Any Local Bank
in
US Dollar:
1.49%
(but not less than
$1.49)
-
1.49%
(but not less than
$1.49)
to deposit funds by
Any Local Bank
in
US Dollar.
-
1.49%
to deposit funds by
Any Local Bank
in
Pound Sterling.
-
Commission for the money withdrawal to
Paypal
in
US Dollar:
1.49%
-
Commission for the money withdrawal to
Paypal
in
Pound Sterling:
1.49%
(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
(but not less than
1.49)
-
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
Australian Dollar.
-
3.99%
(but not less than
1.49)
to deposit funds by
Visa & Mastercard
in
Canadian 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
Singapore Dollar.
-
3.99%
(but not less than
$1.49)
to deposit funds by
Visa & Mastercard
in
US Dollar.
-
Cryptocurrency withdrawal fee.
Please note that this fee applies only when you
transfer the crypto out of this wallet: to the third party, etc.
-
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 changes for an operation we can state that
Coinbase
charges moderate fees.
According to our statistics,
the median (average) fee the local exchanges take from a buyer for the
AUD
to BTC exchange is currently about
~11.5%
that's roughly the same charges
Coinbase does.
The exact rate depends on the Bank or Payment System choice.
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
14%,
Coinbase charges 3.99%
for this.
A nice opportunity and as you can see, the fee is low enough!
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 Any Local Bank in
Pound Sterling.
-
EUR 2
minimal buy and
EUR 25,000
max purchase
when using SEPA Transfer in
Euro.
-
£2
minimal buy and
£5,000
max purchase
when using Visa & Mastercard in
Pound Sterling.
-
AUD
2
minimal buy and
AUD
5,000
max purchase
when using Visa & Mastercard in
Australian Dollar.
-
CAD
2
minimal buy and
CAD
5,000
max purchase
when using Visa & Mastercard in
Canadian Dollar.
-
€2
minimal buy and
€5,000
max purchase
when using Visa & Mastercard in
Euro.
-
SGD
2
minimal buy and
SGD
5,000
max purchase
when using Visa & Mastercard in
Singapore Dollar.
-
$2
minimal buy and
$5,000
max purchase
when using Visa & Mastercard in
US 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
Pound Sterling.
-
$2
min and
$25,000
maximal withdrawal
when receiving money to Any Local Bank in
US Dollar.
-
$2
min and
$5,000
maximal withdrawal
when receiving money to Paypal in
US Dollar.
-
£2
min and
£5,000
maximal withdrawal
when receiving money to Paypal in
Pound Sterling.
-
EUR 2
min and
EUR 25,000
maximal withdrawal
when receiving money to SEPA Transfer in
Euro.
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 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
10 cryptocurrencies
at the Coinbase:
3 banks and payment systems totally
(out of the 4
the e-wallet supports,
that's 75% 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
(note: buying only!)
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!
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 23
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!
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!
Although the user reviews of Coinbase are not the best-of-the-best,
96% positive ones is definitely a good result!
Most likely, your experience doing business with this e-wallet
will be worthwhile, and who knows, maybe it will turn out that for you this exchange is #1!
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 to other similar exchange services with similar 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
33 other cryptos, check
the best rates to buy bitcoin and crypto in United States!
Coinbase vs BitQuick
Let's compare the key features of these two platforms to see which one suits you best:
-
BitQuick is a p2p marketplace
Coinbase is an e-wallet,
it has a different business model
(feel free to read about the
differences between
p2p marketplace and e-wallet)
-
BitQuick had started the business October 2013
Coinbase started the business June 2012
(Coinbase operates
1 years and 4 months longer).
-
BitQuick 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 the digital currencies exchange,
BitQuick provides no extra services
Coinbase provides more exchange-related services:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards and the
Merchant Services.
-
BitQuick doesn't have any fiat currencies supported
You'll be able to use 6
fiat currencies to swap with digital ones at Coinbase
(Coinbase
supports 6 fiat currencies more).
-
BitQuick doesn't allow any fiat payments
Coinbase allows the user to utilize 4
various fiat payment systems and/or banks
(Coinbase
supports 4 fiat payment systems and banks more).
-
BitQuick charges
2.0%
fee
Coinbase charges the client
1.49% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
BitQuick allows registrations from 1 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 more countries worldwide).
-
During the account verification BitQuick
usually asks for 1
document / procedure:
(phone 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
(Coinbase 's compliance program requires the client to take more actions or to provide more data).
-
Due to results of community feedback, BitQuick process deposit/withdrawal orders in about
a couple of seconds, in fact — instantly, without any delay
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 & BitQuick
process the deposits and withdrawals with equal speed).
-
Our users left 5
testimonials about BitQuick,
80%
of which are positive
We've collected 23
users testimonials about Coinbase,
96%
are positive
(Coinbase
has better testimonials from the clients
Although the final decision, which exchange —
BitQuick 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 BitQuick's 80,
we recommend you to 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 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 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 provides the following extra services:
Margin Trading
Coinbase provides the same number of services as CEX:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards and the
Merchant Services.
-
CEX supports 16 cryptocurrencies
Coinbase allows to exchange 10 cryptos
(Coinbase
supports 6 cryptocurrencies less).
-
4 fiat currencies are available at CEX
You'll be able to use 6
fiat currencies to swap with digital ones at Coinbase
(Coinbase
supports 2 fiat currencies more).
-
CEX accepts deposits from and allows withdrawals to
4 fiat payment systems / banks
Coinbase allows the user to utilize 4
various fiat payment systems and/or banks
(Coinbase & CEX
support the same number of banks and payment systems).
-
CEX charges
1.0% — 5.0%
fee
Coinbase charges the client
1.49% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
Buying limits at CEX start from
$1,000 and are up to $5,000
Deposit/withdraw limits at Coinbase are
$2 — $5,000
depending on the payment method
(Coinbase & CEX
have more or less the same 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 policy requires the customer to take less actions or to provide less data).
-
Due to results of community feedback, CEX process deposit/withdrawal orders in about
about 5-15 mins
(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 22
testimonials about CEX,
100%
of which are positive
We've collected 23
users testimonials about Coinbase,
96%
are positive
(Coinbase
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 to 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 BitMyMoney
Let's compare the key features of these two platforms to see which one suits you best:
-
BitMyMoney is a e-wallet
Coinbase is an e-wallet,
both are using the same business model.
-
BitMyMoney had started the business May 2013
Coinbase started the business June 2012
(Coinbase operates
11 months longer).
-
BitMyMoney 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 and selling cryptocurrencies,
BitMyMoney provides the following extra services:
Mobile wallet
Coinbase provides more exchange-related services:
it allows us to purchase and sell digital currencies,
and besides that:
ATM Cards and the
Merchant Services.
-
BitMyMoney supports 3 cryptocurrencies
Coinbase allows to exchange 10 cryptos
(Coinbase
supports 7 cryptocurrencies more).
-
1 fiat currencies are available at BitMyMoney
You'll be able to use 6
fiat currencies to swap with digital ones at Coinbase
(Coinbase
supports 5 fiat currencies more).
-
BitMyMoney accepts deposits from and allows withdrawals to
3 fiat payment systems / banks
Coinbase allows the user to utilize 4
various fiat payment systems and/or banks
(Coinbase
supports 1 fiat payment systems and banks more).
-
BitMyMoney charges
0.0%
fee
Coinbase charges the client
1.49% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
Buying limits at BitMyMoney start from
$12 and are up to $6,021
Deposit/withdraw limits at Coinbase are
$2 — $5,000
depending on the payment method
(Coinbase
has higher buying/selling limits).
-
BitMyMoney allows registrations from 46 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 BitMyMoney
usually asks for 3
documents and/or procedures:
(id verification,
phone confirmation,
a bank account verification)
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 policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange —
BitMyMoney or Coinbase — is better
is up to you, we'll try to help you with the decision.
Both exchanges are great,
since at least one of them is not yet rated at our platform,
we recommend you to 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 Wirex
Let's compare the key features of these two platforms to see which one suits you best:
-
Wirex is a e-wallet
Coinbase is an e-wallet,
both are using the same business model.
-
Wirex had started the business November 2014
Coinbase started the business June 2012
(Coinbase operates
2 years and 5 months longer).
-
Wirex 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,
Wirex provides the following extra services:
Mobile wallet,
ATM Cards and the
Fiat to Fiat Currencies Trading & Exchange
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 and the
Merchant Services.
-
Wirex supports 6 cryptocurrencies
Coinbase allows to exchange 10 cryptos
(Coinbase
supports 4 cryptocurrencies more).
-
8 fiat currencies are available at Wirex
You'll be able to use 6
fiat currencies to swap with digital ones at Coinbase
(Coinbase
supports 2 fiat currencies less).
-
Wirex accepts deposits from and allows withdrawals to
4 fiat payment systems / banks
Coinbase allows the user to utilize 4
various fiat payment systems and/or banks
(Coinbase & Wirex
support the same number of banks and payment systems).
-
Wirex charges
1.0%
fee
Coinbase charges the client
1.49% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
Buying limits at Wirex start from
$5 and are up to $5,000
Deposit/withdraw limits at Coinbase are
$2 — $5,000
depending on the payment method
(Coinbase & Wirex
have more or less the same buying/selling limits).
-
Wirex allows registrations from 47 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 Wirex
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 policy requires the customer to take less actions or to provide less data).
-
Due to results of community feedback, Wirex 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 & Wirex
process the deposits and withdrawals with equal speed).
-
Our users left 17
testimonials about Wirex,
94%
of which are positive
We've collected 23
users testimonials about Coinbase,
96%
are positive
(Coinbase
has better testimonials from the clients
Although the final decision, which exchange —
Wirex 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 Wirex's 99,
we recommend you to 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 EXMO
Let's compare the key features of these two platforms to see which one suits you best:
-
EXMO 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)
-
EXMO had started the business May 2013
Coinbase started the business June 2012
(Coinbase operates
11 months longer).
-
EXMO 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,
EXMO provides the following extra services:
Cash codes and the
OTC trading
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 and the
Merchant Services.
-
EXMO supports 24 cryptocurrencies
Coinbase allows to exchange 10 cryptos
(Coinbase
supports 14 cryptocurrencies less).
-
8 fiat currencies are available at EXMO
You'll be able to use 6
fiat currencies to swap with digital ones at Coinbase
(Coinbase
supports 2 fiat currencies less).
-
EXMO accepts deposits from and allows withdrawals to
10 fiat payment systems / banks
Coinbase allows the user to utilize 4
various fiat payment systems and/or banks
(Coinbase
supports 6 banks and fiat payment systems less).
-
EXMO charges
0.15% — 5.95%
fee
Coinbase charges the client
1.49% — 3.99%
fee, depending on the currency, payment system, etc.
(Coinbase
has higher fees, generally).
-
Buying limits at EXMO start from
$1 and are up to $20,000
Deposit/withdraw limits at Coinbase are
$2 — $5,000
depending on the payment method
(Coinbase
has lower buying/selling limits).
-
EXMO allows registrations from 255 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 EXMO
usually asks for 3
documents and/or procedures:
(id verification,
address 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 policy requires the customer to take less actions or to provide less data).
-
Due to results of community feedback, EXMO 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 18
testimonials about EXMO,
94%
of which are positive
We've collected 23
users testimonials about Coinbase,
96%
are positive
(Coinbase
has better testimonials from the clients
Although the final decision, which exchange —
EXMO 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 EXMO's 99,
we recommend you to 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 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
8 years
and
8 months
ago
- Exchange supports
10 cryptocurrencies
and 6
fiat ones
(totally 4
payment systems / banks are available).
Besides buying, selling and exchanging digital currencies, the following services are available:
ATM Cards and
Merchant Services
- It charges moderate fees:
from 1.49%
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
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
- Customers' testimonials are rather good,
4%
(1 of 23)
are neutral or negative.
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
326 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 8+ years
and we invite you to check out by yourself!
Overall rating for Coinbase:
100 / 100