Coinbase is one of the largest companies involved in digital currencies. The company provides its services in 42 countries , with more than 20 million customers worldwide. Coinbase has a wide range of services, but their core service allows users to buy Bitcoin through a bank account , credit and debit card . The offered rates for buying or selling digital currencies are good, but customer support is terrible. In this article, we will introduce you to our platform review, as well as share how you can get a $ 10 BONUS completely free.
For the company
The company was founded in 2012 by Brian Armstrong and Fred Ehrsam . Coinbase starts with just one Bitcoin buying and selling brokerage service, but then starts adding new services. The platform is fully regulated and licensed. The company has raised more than $ 400 million from leading investors such as Andreessen Horowitz , Rabbit Capital and The NYSE .
The main service that Coinbase offers is related to the brokerage of buying and selling various digital currencies. Most new users buy their first Bitcoin parts right from Coinbase , thanks to marketing, the extremely user-friendly interface and, last but not least, the company’s reputation.
One of the main disadvantages of Coinbase is that users do not have direct access to their funds, you do not have access to the private key . The company keeps your coins.
Also known as GDAX , CoinbasePro is a cryptocurrency trading platform. Unlike the company’s traditional brokerage service, Coinbase Pro is aimed at more experienced users. The fees are significantly lower than the digital currency buying service with fiat money.
In 2018, the company created its independent mobile wallet for Android and iOS . The wallet stores the private key in the user’s application. Coinbase ‘s mobile wallet has a pretty user-friendly graphical interface that makes it easy to handle, even for new users.
Online trading solutions
Coinbase provides online merchants with the ability to accept digital currencies through a plugin. The plugin is designed to work with the largest CMS (content management systems) such as Shopify , Magento and WooCommerce (WordPress).
In addition to the services listed above, Coinbase provides additional services such as:
USD Coin (USDC) – A Coin Stalk created by Coinbase .
Coinbase Index – Tracking the financial results of all available digital currencies in the platform.
Coinbase Custody – A good and secure alternative for institutional investors.
Earn.com – Spam email filtering service.
Paradex- Trading platform directly from the user’s portfolio.
Digital currencies and payment methods
Available currencies to buy and sell in Coinbase are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- EOS (EOS)
- Stellar Lumens (XLM)
- Ethereum Classic (ETC)
- Zcash (ZEC)
- Augor (REP)
- Dai (DAI)
- USD Coin (USDC)
- 0x (ZRX)
- Basic Attention Token (BAT)
The platform accepts the following payment methods :
- Bank Transfer (SEPA Transfer)
- Credit cards
- Debit Cards
- PayPal (withdrawal only)
The platform has a slightly complex fee system. We will try to explain briefly. When you buy Bitcoin from Coinbase , the price you pay is based on:
The market price in Coinbase Pro + 0.5%.
Transaction fee – a fixed fee for transactions under $ 200 or a percentage of the transaction for transactions over $ 200.
Most charges for buying digital currencies by credit card are 1.49% and 3.99% for credit card purchases. More information about the fees in the platform can be found here . After everything is written about fees on the platform, Coinbasestill offers one of the lowest debit and buyer fees .
For purchases with a debit card you have a limit of € 1,000 per week .
You have higher limits than $ 25,000 to make a bank transfer purchase . The transaction may be delayed for several days. To increase the purchase limits, you will need to provide additional information about yourself such as: Phone number verification Providing personal information Providing photos on the ID card
Bonus for new users
Coinbase offers a $ 10 new user bonus . To receive the bonus you need to follow the following steps:
How to Buy Bitcoin from Coinbase ?
- Click on “Trade” in the upper right corner of Coinbase .
- Write the amount for which you want to buy Bitcoin.
- Choose how to pay, whether it be a bank account or a debit card.
- Finally, click on “preview purchase” to review your order.
- The final step is to confirm the purchase. This is done by clicking the Buy Now button
- And that’s all!
Coinbase provides a large number of services, but their main service is an intermediary activity for buying and selling Bitcoin and other alternative currencies. The platform offers a relatively large number of different currencies that can be bought with fiat money. The payment methods are relatively good and reliable.
Also, Coinbase offers another pretty good opportunity to earn extra bonuses. The platform offers training videos for new users as well as post-video questions. If you answer the questions correctly you will receive a fiat money bonus. The program is called Earn . We will tell a little more about it in our next article.