Published on August 2nd, 2021 by Rahul Kumar Singh
With increased interest and engagement in cryptocurrencies over the last few years, the need for secure and safe exchanges to allow crypto purchases has become more critical.
Coinbase is currently one of the most popular cryptocurrency exchange platforms globally.
Coinbase was founded in 2012 in San Francisco and now operates in 32 countries, serving over 12 million customers and facilitating the exchange of over USD 40 billion in digital currencies.
By 2013, Coinbase had become the most well-funded Bitcoin business and the nation’s biggest cryptocurrency exchange. Kraken and Coinbase are both excellent buying and selling platforms for Bitcoins; however, it is meant for investors with different levels of digital asset experience.
Coinbase is one of the most user-friendly exchanges for purchasing Bitcoin and other cryptocurrencies. The technologies in cryptocurrency are constantly evolving; even with knowledge gained while operating a SaaS platform for Bitcoin enthusiasts, one cannot ignore the new SaaS products.
Coinbase charges fees ranging from 1.49% to 3.99%, depending on the mode of payment, with credit card payments charging the highest fees.
Coinbase charges lower fees than similar competitors, such as Coinmama or CEX.
Coinbase enables customers to purchase Bitcoin, Ethereum, Litecoin, and various other cryptocurrencies, with more being introduced regularly. Additionally, Coinbase runs the Coinbase Pro exchange, which is geared towards more experienced traders.
Coinbase provides customer service via email, a Knowledge Base, and an FAQs page.
However, the customer support’s waiting time may vary due to the massive surge in the service’s popularity over the last few months. Response times are typically between 24 and 72 hours.
Transaction restrictions vary by country, payment method, and verification level. Your transactions are accessible via a link on the account’s limits page. Additionally, Coinbase allows users to request increased transaction limits, but these applications are generally not relevant to credit card transactions.
To apply for increased transaction limits, you need to get your identification verified. Fully verified US residents can transact up to $40,000 per week, while fully verified European clients can hold a maximum balance of $25,000 at any time. Users can access their accounts to view their transaction limits.
Features of Coinbase
Here are some of the key features of this crypto trading site:
Only Accepts Trusted Cryptocurrencies
Coinbase is often used as a gateway to the cryptocurrency market. It allows you to buy Bitcoin, Litecoin, Ether, and Bitcoin Cash. These four cryptocurrencies are the only ones currently available for purchase through Coinbase.
Simple to Use Interface
Coinbase has a highly user-friendly layout, which makes it an excellent tool for individuals just getting started in the business of cryptocurrency. Its uncluttered design makes it easy to navigate, and all the necessary tools are available at your fingertips.
Are you still wondering about the efficiency of this platform? Watch relevant educational videos about Coinbase on Youtube. Because of the nuances of the platform, you’ll need to ensure that you’re looking at material that answers your questions. You can verify this by taking a look at each Youtube video thumbnail to assess whether the content is relevant.
If you are looking for a well-regulated and renowned digital asset exchange with many valuable features, Coinbase is the perfect platform.
Coinbase only offers cryptocurrencies guaranteed to be currencies or commodities and does not accept tokens that could be securities or equities in the future. Thus, they rarely add new coins. This is another reason that Coinbase is regarded as a secure and reputable platform.