What is Coinbase?
Coinbase is a trusted platform for buying and selling cryptocurrencies, with over 89 million users worldwide. It’s also one of the most popular exchanges in America due to its simplicity and variety of cryptocurrencies. Users can buy, sell, and trade over 100 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) & Dogecoin (DOGE). Coinbase is a great option for those looking to start trading crypto as well as seasoned crypto investors.
Features
Crypto Exchange: Coinbase offers its users a wide variety of cryptocurrencies to choose from. Users can buy crypto by transferring money into their Coinbase account. Users can also trade crypto to crypto and sell their crypto. If you’re looking to implement limit or stop orders, you’ll have to buy a Coinbase Pro account to access those features. Coinbase Pro also allows users to trade with lower fees and opens up different tools such as advanced charting.
Website/App: The Coinbase app is a quality option for mobile crypto trading. Whether you’re on your phone, tablet, or laptop – Coinbase has excellent ratings from both Apple’s App Store and Google Play Store! Coinbase can also be accessed through a browser where users can perform similar functions to those of the app.
NFTs: Coinbase has recently added a NFT exchange; however, it is still in its beta stage. Through this feature, Coinbase users will be able to add NTFs into their portfolio of digital assets!
Other Services: Coinbase offers a plethora of other services such as a debit card that allows users to earn crypto rewards with every purchase. Users can also send money to other Coinbase accounts. The Coinbase website offers users a large selection of crypto educational resources where users can also earn crypto rewards as they go through different courses.
Needed Improvements
Fees: Coinbase has relatively higher fees when using its standard account, especially for trades under $200. Coinbase Pro is the better option for traders who want to take advantage of lower fees. It’d be great if they could institute these same rates across both platforms, so that everyone has an equal opportunity at success!
Fee Structure: You can no longer find Coinbase’s fee structure on its website. Once you’re ready to make a transaction, it lets you know the exact fees you will be charged. Coinbase could be clearer about its fee structure beforehand, rather than letting you know right before the transaction.
Overall Impression
Coinbase is great for beginner traders due to their ease of use and wide array of helpful resources. We recommend that those who are looking to actively trade crypto to upgrade to the Coinbase Pro account to take advantage of lower fees and advanced resources. Overall, Coinbase is a great platform to get involved in for any skill level of trader.
