Coinbase Review

One of the first Bitcoin brokers, perfect for first-time buyers.

Pros:

Cons:

Top Features:

Score: 3/5

Coinbase is a web-based eWallet that is used to purchase, sell, and save cryptocurrency, particularly Bitcoin but also Ethereum and Litecoin. With 7.7 million users, 32 countries supported, and $6 billion in currency exchanged, it i’s one of the most popular cryptocurrency brokers on the web. They were founded in 2012.

Coinbase is widely known and is a great option for those who are somewhat new to Bitcoin. It’s often the place people go to purchase their first Bitcoins, as their platform is very user-friendly and intuitive. The user experience on coinbase is designed to be like that of Paypal so that users feel a kind of familiarity with their platform.

Because they’ve developed partnerships with a wide rank of banking systems, users have many options for payment. Transactions can be facilitated using EFT payment, ACH transfers, SWIFT, SEPA, and even major credit cards and Paypal.

Coinbase is often criticized by regular Bitcoin users for their ease of use and heavy focus on the user experience. For people using cryptocurrency to get away from traditional banking, coinbase can often feel too much like an actual bank.

However, coinbase has had to forcibly close a number of accounts due to their adherence to traditional banking laws. You are also required to provide a lot of personal information in order to use coinbase, which some cryptocurrency users find to be a breach of privacy. Information is kept completely secure.

Features & Key USP

Coinbase has extensive ties to the banking industry, and they are probably the most well-connected cryptocurrency broker when it comes to traditional banking. They are also highly regulated and follow both Anti-Money Laundering and Know Your Consumer laws and regulations. This has led them to become the first cryptocurrency broker to receive approval from US regulatory bodies.

Some key features include a mobile wallet, insurance protection, instant exchange options, a fully-secured storage method, a multi-signature system that gives you complete control over your private keys, and recurring buys which allow you to schedule weekly or monthly buys in order to grow an investment in Bitcoin.

Account Types

There is only one standard account option. However, upon creating an account, you can choose from multiple platforms.

Trading Platforms

Coinbase offers a trader platform for buying and selling cryptocurrency, but they also offer a developer platform and a merchant platform. In addition to their web-based applications, they also offer mobile platforms for both Android and iPhone.

Countries Available

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Jersey, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Slovenia, Slovakia, Spain, Sweden, Switzerland, United Kingdom, Canada, United States, Singapore, and Australia

Final Verdict

Coinbase is undoubtedly one of the best brokers out there for first time Bitcoin users. Their platform is extremely easy to use, they are highly regulated and well-secured. Coinbase’s services are far-reaching, supporting over 30 countries and integrating virtually all major methods of payment, including credit cards and Paypal.

One of the first brokers to enter the world of cryptocurrency, coinbase is also an original that is well-established and trusted.

That being said, experienced Bitcoin users may find the service to be a little too regulated and user-friendly, especially if they are particularly concerned with privacy or avoiding the traditional banking system. Still, it is one of the most widely-used platforms out there.

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