Coinbase

INTRODUCING COINBASE

Coinbase was founded in 2012 and is a fully regulated and licensed cryptocurrency exchange supporting all U.S. states except Hawaii. Coinbase initially only allowed for Bitcoin trading but quickly began adding cryptocurrencies that fit its decentralized criteria.

Its list expanded to include Ethereum, Litecoin, Bitcoin Cash, XRP, and many others with the promise of more as long as its requirements are met.

Care to know something interesting?

IS COINBASE LEGIT?

Coinbase is not only legit, it is safe. How? Coinbase offers over 25 cryptocurrencies for investment, trading, and also staking and Coinbase consistently ranks among highly liquid exchanges. This protects the investor from serious price slippage in an already volatile market.

COINBASE BONUSES AND REWARDS

As the crypto economy grows and evolves, there are more ways than ever to earn rewards for holding crypto, learning about crypto, or interacting with decentralized finance (or DeFi) apps.  Most of these opportunities are available right inside the main Coinbase app or website, while the last one requires the use of a wallet with a DeFi browser built in, like Coinbase Wallet (for mobile) or Metamask (as a browser-based option). We’ll walk you through the basics of some of the best ways to grow your crypto via rewards right now.

COINBASE KEY FEATURES

• Cryptocurrencies offered: Coinbase offers 56 cryptocurrencies for U.S. customers to trade, and 59 on Coinbase.

 

• Trading platforms: Coinbase is available in all U.S. states except Hawaii. Coinbase users can trade on two platforms: the original Coinbase platform, which allows users to use U.S. dollars to purchase cryptocurrency, and Coinbase Pro. Formerly known as GDAX, Coinbase Pro has advanced charting functions and allows users to make crypto-to-crypto transactions, as well as place market, limit and stop orders.

HOW TO SET UP AN ACCOUNT WITH COINBASE

To set up an account comes free, all you’ve got to do is to follow these outlined steps

– Provide a valid email address, fill name and a password in the required format

– Verify your email address and phone number

– Fill in the required space with appropriate information

– Add your personal information and verify your identity

– Link a payment method

After following these steps, you’re good to go to trade coins on coinbase.

AVAILABLE COINS ON COINBASE

Aave (AAVE), Algorand (ALGO), Cosmos (ATOM), EThe Balancer (BAL), Band Protocol (BAND) Basic Attention Token (BAT), Bitcoin Cash (BCH), Bancor Network Token (BNT), Bitcoin Satoshi’s Vision (BSV) (Send Only), Bitcoin (BTC), Celo (CGLD), Compound (COMP), Civic (CVC), Dai (DAI), Dash (DASH), districtOx (DNT), EOS (EOS), Ethereum Classic (ETC), Ethereum (ETH), Filecoin (FIL), The Graph (GRT), Golem (GNT), Kyber Network (KNC), Chainlink (LINK), Loom Network (LOOM), Loopring (LRC), Litecoin (LTC).

WITHDRAWAL AND DEPOSITS

HOW LONG DOES COINBASE WITHDRAWAL TAKE?

Withdrawing to your bank account via SEPA transfer generally takes 1-2 business days. Withdrawal by wire should complete within one business day.

HOW TO WITHDRAW ON COINBASE

To withdraw your funds, sign in to your Coinbase Commerce account and click on the Withdraw button next to the relevant cryptocurrency in the Balances section. A window will pop up and ask how much you would like to withdraw, and where you would like these funds to go.

However, you can convert your funds to USDC or withdraw them to your Coinbase account. From there can you withdraw to your linked bank account

Is there a minimum amount that I have to withdraw?

Yes, these minimums fluctuate with exchange rates, but are generally under $0.10.

Is there a maximum amount that I can withdraw?

There are no maximum withdrawal limits on Coinbase Commerce—you can withdraw all funds at any point.

COINBASE CURRENCY

Currently Coinbase, Wallet supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin, and all ERC-20 tokens (including USDC and DAI).

PAYMENT METHODS

COINBASE CUSTOMER SUPPORT

You can contact Coinbase in several ways:

EMAIL:

Complete a request for email support, For the fastest resolution, please:

Submit your request using the email address you use to sign in to Coinbase

Choose the most relevant category and sub-category

Provide as much detail as possible regarding your issue

PHONE: Please be aware that Coinbase currently does not offer any phone support with a live agent.

And mostly, you can contact for help through Twitter. Coinbase uses twitter to provide status updates regarding Coinbase products.

COINBASE MOBILE APP

Coinbase Mobile App: the simple, safe medium to buy, manage and sell your cryptocurrency.. Coinbase allows you to securely buy, store and sell cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and many more on our easy, user-friendly app and web platform.

HOW TO TRADE ON COINBASE

Trading on Coinbase is an extremely easy process and geared toward a beginner. The platform can also be accessed through your android or iOS devices. These are the steps to trading on Coinbase

• Make sure your Coinbase wallet is adequately set up for exchange
• Find your account through any of the payment methods
• After verification of account funding
• Then you can start buying and selling using limit, stop and/or market orders.

COINBASE TRADING FEES

Coinbase has an incredibly convoluted fee system that is also quite expensive if you are not using Coinbase Pro. The cost of trading on Coinbase’s standard platform is quite high in comparison to its competitors. In addition to these fees, Coinbase also charges variable spreads on purchases and trades. Coinbase says that they typically charge about 0.50% for the purchase and sale of cryptocurrency below $10,000 in value.

COINBASE LIQUIDITY POOL

With Coinbase Prime access, the same diversified liquidity pool underpinning all Coinbase products through a powerful, professional trading platform designed for institutional clients. Our healthy order books across market conditions helps you get better execution for your trades.

COINBASE FUTURES

Coinbase futures allow investors to gain exposure to cryptocurrencies without having to hold the underlying cryptocurrency. Like a futures contract for a commodity or stock index, Coinbase futures allow investors to speculate on the future price of currencies traded on Coinbase.

CONCLUSIONS ON COINBASE

Coinbase is considered one of the top cryptocurrency exchanges in the U.S. The interface for Coinbase basic service is quick and user-friendly, but costs can be difficult to track unless you use the more advanced using  Coinbase Pro.

But understand that investing in cryptocurrencies like Bitcoin is highly speculative and known for its volatility.