Coinbase, established in 2012, is a well-known online platform for crypto transactions, including purchasing, selling, transferring, and storing. Operating in over 100 countries, it stands out as a top-tier crypto exchange, featuring a wide array of cryptocurrencies, including those beyond the top 500 by market capitalization.

The platform accommodates both crypto and fiat currencies, enabling deposits, withdrawals, and spending through the Coinbase Card. It’s particularly user-friendly for both beginners and experienced crypto investors, offering a multi-faceted approach to digital assets. Coinbase users have access to decentralized apps (Dapps), the ability to buy, sell, and mint NFTs, earn via crypto staking, and engage in versatile cryptocurrency trading.

Contents

• Coinbase Key Features
• Brokerage Services
• Conbase Platforrm
• Fees
• Coinbase Wallets
• Deposit and Withdrawal Options
• Privacy and Security
• Customer Support
• Social Media
• FAQ
• Conclusion

Coinbase Video Review

Coinbase Key Features

• Registration: Simple sign-up and verification process.
• Buy & Sell Crypto: Caters for novice and seasoned investors with a simple-to-use Buy & Sell interface and Advanced Trade platform.
• Coinbase NFT: An NFT marketplace for users to buy/sell, mint, and explore the NFT space.
• Coinbase Card: Cardholders can buy with fiat currencies, USD Coin, or supported cryptos and earn rewards.
• Coinbase One: Members benefit from 24/7 priority support, boosted rates on reward-earning assets, zero trading fees, and analytics via Messari Pro.
• Deposits & Withdrawals: Supports the deposit and withdrawal of fiat and crypto.
• Recurring Buys: Users can set up daily, weekly, twice-monthly, or monthly recurring buys for cryptos.
• Staking: Offers attractive APYs for staking-supported cryptos via Earn.

The Pros and Cons

Brokerage Services

Registration

To open a Coinbase account, go to the Coinbase homepage and click the Sign-Up icon at the top right-hand corner of the home page.

• Select the account – Individual or Business – and click “Get Started”.
• Enter your details, including your email address and password.
• Confirm you are over 18.
• Agree to the user agreement and privacy policy.
• Click “Create Free Account”.

Verification Process

• 1. Verify your email.
• 2. Enter your mobile number and click “Continue”.
• 3. Enter the verification code.
• 4. Select your country of domicile.
• 5. Verify your identity.
• 6. Answer the provided question about your trading intentions and your work field, then click “Continue”.
• 7. Provide your ID – passport, driver’s license, or identity card – and upload the images as prompted.

Verification can take up to a few hours. Coinbase will notify you with verification updates by email. After, you will then need to verify your address by uploading an acceptable proof of address.

Post-Registration Deposit

• Complete Verification: Finish the verification process on Coinbase to ensure your account is secure and compliant.
• Add Payment Method: During account setup, Coinbase will ask you to add a payment method. Options include bank transfer, PayPal, or credit/debit card. Choose the one that suits you best.
• Make a Deposit: After selecting your preferred payment method, deposit funds into your account. This can be done either by depositing fiat currency (like USD, EUR, etc.) or by transferring cryptocurrency from another wallet to your Coinbase account.

To deposit crypto,

• Go to the “Send & Receive” page and select the Receive option.
• From the dropdown menu, choose the crypto wallet you wish to fund. You can scroll down or search for the crypto wallet.
• Select the crypto wallet, scan the QR code, or copy the wallet address to your external wallet, and complete the transfer.

Upon funding your crypto wallet, you can begin trading.

For users who don’t pre-own crypto, you deposit Coinbase-supported fiat currencies and purchase crypto with your funded fiat wallet.

Supported Cryptocurrencies and Trading Products

Coinbase supports over 200 cryptos, including the largest by market capitalization, popular meme coins, and the stablecoin suite. Cryptos include but are not limited to BTC, DOGE, ETH, MATIC, LTC, SHIB, and XRP.

Coinbase offers a diverse range of products designed for crypto traders and digital asset enthusiasts.

These include

Trade: Users can buy and sell cryptocurrencies, convert crypto to fiat currency, or vice versa.

Earn: This feature allows users to acquire a variety of cryptocurrencies to stake or hold, such as USD Coin, to earn rewards.

Web3: Through the Web3 page, users gain access to decentralized applications (Dapps). Here, they can directly interact with various Dapps and leverage the unique features each offers. Additionally, Coinbase provides rankings and ratings for these Dapps.

Coinbase also provides several additional features, including

Advanced Trade: This offers professional-grade tools tailored for more experienced traders.

Recurring Buys: Users have the option to set up automatic recurring purchases for various crypto assets.

Coinbase One: Subscribers gain access to numerous benefits such as 24/7 priority support, enhanced rates on reward-earning assets, Messari Pro analytics, and zero trading fees.

Coinbase Card: A versatile card allowing holders to spend fiat currencies, USD Coin, and other supported cryptocurrencies.

Learning Rewards: Eligible users can earn cryptocurrency by watching educational videos and completing short quizzes.

Coinbase NFT: A dedicated NFT marketplace for enthusiasts to mint, purchase, and sell non-fungible tokens.

Coinbase Verification: Completing wallet verification unlocks exclusive perks for users.

Coinbase Platform

Coinbase provides users with a wide range of products to trade and spend crypto, collect NFTs, and earn rewards.

Buy, Sell, and Convert Crypto

Coinbase users can buy and sell crypto via the Buy & Sell page.

To purchase crypto, go to the “Buy & Sell” page.

• Select the crypto you want to purchase from the dropdown menu.
• Enter the amount you wish to acquire and choose the payment method.
• Set the purchase frequency: one-time, daily, weekly, twice-monthly, or monthly.
• Complete the transaction.

To sell crypto, there are no recurring sales options. Otherwise, the process is the same as purchasing crypto.

Convert enables users to convert crypto to crypto.

• Go to the “Buy & Sell” page and select “Convert”.
• Choose the source crypto you wish to convert from the dropdown menu.
• Select the target crypto you want to convert to.
• Enter the amount and click Convert.

Advanced Trade

Coinbase caters to more seasoned crypto traders with the Advanced Trade platform. Traders can trade spot crypto-crypto and crypto-fiat pairings.

Key features of the Advanced Trade platform include

Trade Settings: Traders can trade market prices or use limit and stop limit features.

Charts: Users can set time intervals, time ranges, indicators and strategies, chart types (candles, lines, bars, etc.), and drawings for technical analysis.

Pairings: Users have the option to select pairings from the dropdown menu. Data is available for each pairing, including the last price (% change), 24-hr vol, 24-hr high, and 24-hr low.

Orders: Traders can view order details, including time placed, name, type, side, price, amount, % filled, total, and status.

Trade History/Order Book: Users can view the platform’s order book and trade history.

Portfolio: A breakdown of open orders, total balance, fiat and crypto balances, and transaction history.

Trading Activity: A dedicated “Orders” page allows traders to analyze trading activity.

Earn

Coinbase users can purchase staking-eligible crypto via the Earn page. Cryptos eligible for staking include Cardano, Coinbase-wrapped staked ETH, Cosmos, Ethereum, Polkadot, Solana, Tezos, and USD coin. APYs range from 2.04% up to 10.34%.

To acquire staking-eligible cryptos,

• 1. Go to the Earn page.
• 2. View the staking-eligible cryptos and APYs on offer.
• 3. Select the preferred crypto to stake by clicking “Buy”.
• 4. Enter the amount you want to purchase.
• 5. Choose your preferred purchase frequency and complete the transaction.

Coinbase NFT

Users can buy, sell, mint, and explore on the Coinbase NFT marketplace. You can search for trending Ethereum, Base, and Polygon-based collections. For trending NFT collections, Coinbase provides a floor price, daily volume, volume change, and the number of owners and items.

In addition to trending NFTs, Coinbase categorizes NFTs into art, collectibles, fashion, music, photography, sports, and trading cards.

To sell NFTs, users must connect their wallets and follow the instructions to put up the NFT for sale. Coinbase does not collect a seller fee.

Finally, NFT enthusiasts can collect or mint NFTs on the Coinbase NFT marketplace.

Coinbase One

For more seasoned crypto traders, Coinbase One is an account offering exclusive benefits for a monthly fee (first 30 days free), including:

• Analytics via Messari Pro: a 90-day trial allowing users to access research tools on Messari Pro.
• Boosted Rates: Receive up to 11.72% APY on reward-earning assets.
• Zero Trading Fees: Buy and sell up to $10k monthly with zero Coinbase trading fees.
• Round-the-Clock Priority Support: Members have exclusive access to a dedicated support team, available 24/7 for immediate assistance.

Balances and Transaction History

Coinbase provides account balance details on the “My Assets” page. Total balances are available for individual fiat and crypto wallets.

To view transaction histories, users can go to the Reports page via the main account dropdown menu. Users can generate and download a Transaction History Report to track account activity.

Additionally, active traders of Advanced Trade may view Orders, Fills, and Fees on the Orders page. Users can filter by market/limit/stop trades, buy/sell trades, and the status of trades.

Details include Time Placed, Name, Type, Side, Price, Amount, Fills, %Filled, Total, and Status.

Fees

Coinbase provides a comprehensive and detailed fee page, ensuring complete transparency for users. The platform systematically categorizes its fees into several sections: primary balance maintenance, trading fees and spread, Coinbase card usage, staking services, and asset recovery costs.

Primary Balance

Network Transaction Fees: Coinbase charges users for sending crypto from a Coinbase wallet to an external wallet. A network transaction fee includes mining fees. Users can view network transaction fees at the time of a transaction.

Efficiency Gains and Network Fees: Users may pay fees exceeding the amount Coinbase pays due to potential efficiencies from batching transactions.

Adding Cash and Cashing Out: There may be fees associated with adding or withdrawing cash, subject to the payment method.

Credit Transactions: If users borrow USD from Coinbase or affiliates, Coinbase will charge a flat fee of 2% of the total transaction if they sell the collateral.

Trading Fees and Spread

Coinbase Fees: Traders must pay fees for buying, selling, or converting cryptos. Fees vary depending on the time of the orders, payment method, order size, market conditions, and jurisdictional location. Coinbase will also charge for other costs incurred to facilitate a transaction. Traders can view the fees via the trade preview page before transaction execution.

Spread: Coinbase includes a spread in the quoted price. To view a spread on the preview screen, tap the tooltip next to the asset price line item to view the spread for buy and sell orders. For convert orders, tap on the tooltip next to your quoted exchange rate.

Advanced Trade: Coinbase does not include a spread for Advanced Trade.

Coinbase Card

Users do not incur transaction fees for spending with the Coinbase Card. However, Coinbase does include a spread in the price to buy or sell cryptos. Additionally, ATM operators can charge fees.

Staking Services

There is a standard commission rate of 35% on rewards earned from staking ADA, ATOM DOT, SOL, and XTX, and 25% on ETH staking rewards.

Asset Recovery

Users incur a network fee for a recovery attempt if a user sends unsupported crypto to a Coinbase account. For recoveries above $100, Coinbase also charges a 5% recovery fee on an amount exceeding $100.

Coinbase Wallets

After opening a Coinbase account, new account holders can use the Coinbase custodial wallets or download a Coinbase Wallet.

Users can locate the custodial wallets, where Coinbase is the custodian of your assets, on the My Assets page. Account holders can convert, deposit, and withdraw crypto and fiat currencies via custodial wallets.

Additionally, users can download the Coinbase Wallet, a self-custody wallet with added features. The Coinbase Wallet can store and manage user-held crypto, NFTs, and multiple wallets in a single location.

To download the Coinbase Wallet:

• Navigate to the Coinbase homepage, open the dropdown menu, select ‘Wallet’, and click on ‘Download’ to proceed.
• Select the wallet version suitable for your device: iOS, Android, or Google Chrome.

Once the Coinbase Wallet is downloaded, users can immediately start sending and receiving supported cryptocurrencies and digital assets.

Deposit and Withdrawals

Coinbase enables users to deposit and withdraw Coinbase-supported cryptos. To make a withdrawal, users must complete the verification process.

Crypto Deposits

To deposit crypto:

• Select “Send & Receive” and click the “Receive”.
• From the dropdown, select the crypto coin you want to deposit.
• Scan the QR code or copy and paste the address to your external wallet.
• Complete the crypto transfer to your Coinbase wallet.

Crypto Withdrawals

To withdraw crypto:

• Go to the “Send & Receive” page and select “Send”.
• Select the crypto you wish to withdraw.
• Enter the amount of crypto to withdraw.
• Copy and paste your external wallet address and complete the withdrawal.

Fiat Deposit

To make a fiat deposit:

• Go to the Deposit page and select the deposit method (either use previously linked payment methods or link a new payment method).
• For easy bank transfers, enter the amount you wish to deposit.
• Select your bank from the dropdown menu and click “Continue”.
• Coinbase redirects you to your bank to approve the deposit by clicking “Continue”.
• To continue the transfer, you can scan the QR code from your mobile device to open your banking app/website and authorize the deposit on our banking app/website.
• Once your bank has authorized the transfer, return to the deposit page, and tap “Check Payment Status”.

Fiat Withdrawals

To withdraw fiat currencies from Coinbase, you must verify your bank account on the Coinbase exchange by completing a Faster Payments deposit to your Coinbase account.

To withdraw GBP from your Coinbase account:

• Go to “My Assets” and select the fiat currency.
• Click “Withdraw” and select the payment method, for example, UK Bank Transfer.
• Select the receiving bank account from the “To” dropdown menu.
• Enter the amount you wish to withdraw and click “Withdraw”.

Funds will appear in your account within 1–3 business days from the withdrawal date.

Privacy and Security

Coinbase provides users with added levels of security.

2FA: Users can upgrade the authentication method to text-based 2-step verification.

Additionally, users can set 2FA for sending crypto.

Account Activity: Account holders receive notifications by email, In-app, and Push notifications when buying/selling, transferring, and receiving rewards.

Lock My Account: Via the Security page under Settings, users can apply the “Lock My Account” feature in case of suspicious activity.

Notifications: Coinbase issues security alerts via email, SMS, and In-app.

Verification: All users must complete the verification process before actively using Coinbase.

Customer Support

• Coinbase Help: Users can access a comprehensive FAQ section to assist in navigating the Coinbase exchange.
• Chat Support: Account holders can instantly connect via chat support to resolve issues.
• Coinbase One: Coinbase One members have access to 24/7 priority customer support.

Social Media

• Facebook
• Instagram
• LinkedIn
• Reddit
• Telegram
• TikTok
• YouTube

FAQ

How can I cash out my balance?
You can cash out your local currency balance via Faster Payments Transfer, Instant Card cashout, PayPal, and SEPA (EUR).

Why is my transaction pending?
Incoming transactions show up in your account almost instantly but show as Pending until there have been enough network confirmations. Once a transaction is confirmed, it will show “Completed”, indicating that the transaction can’t be reversed and the funds can be withdrawn.

How do I troubleshoot 2-step verification?
If you’ve noticed any suspicious activity on your account, or you have been locked out by what you believe to be a scammer/hacker, lock down your account by navigating to “Fraud and Suspicious Activity” and selecting one of the following options:

• Lock your account if you believe someone has unauthorized access to it.
• Can’t sign in and need more help.

Follow the prompts to secure your account to prevent further suspicious activity.

Instructions to recover your account can be found via the ‘Regain Access to My Account’ page.

Conclusion

Coinbase is a multi-faceted platform that caters to both beginners and experienced crypto traders alike. It serves as a one-stop solution for digital asset enthusiasts, offering a variety of services including staking for earnings, buying and selling NFTs, exploring the Web3 domain, and a full spectrum of crypto trading options. Coinbase sets itself apart with a strong focus on security and extensive crypto coverage. Additionally, the convenience of the Coinbase Card further solidifies its position as a leading platform in the digital asset arena.

Disclaimer: Information is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Investing in crypto comes with risk. Please carefully consider whether trading or holding cryptocurrencies is suitable for you given your financial situation. Some features and benefits may not be available in all regions or to all users. Other terms, restrictions, and exclusions apply.