Coinbase Review 2024

Coinbase Exchange is a centralized cryptocurrency exchange founded in 2012. Its country of registration – United States. On 8 April 2024 the number of trading pairs available for trading: 398. Coinbase Exchange last 24-hour trading volume is $2,911,938,477. It changes to +90.99% compared to the previous 24-hour period. BTC/USD is the most popular trading pair, its trading volume is $937,060,435 in the last 24 hours. The exchange has 10 of 10 possible reliability scores and provides clients with access to fiat currencies.
Volume (24h)
$2,911,938,477+90.99% ↑
Pairs
398
Rating
10 / 10
Country of registration
United States
Fiat
TOP 10 pairs by volume
Pair
Price
24h Volume
Spread
Price change in 24h
Pair
BTC/USD
Price
$71,554.00
24h Volume
$937,060,435
Spread
+0.01%
Price change in 24h
+$2,123.00 ↑ / +3.06%
Pair
ETH/USD
Price
$3,639.81
24h Volume
$312,955,670
Spread
+0.01%
Price change in 24h
+$234.71 ↑ / +6.89%
Pair
USDT/USD
Price
$0.9992
24h Volume
$161,810,996
Spread
+0.01%
Price change in 24h
-0.0008250 $ ↓ / -0.08%
Pair
DOGE/USD
Price
$0.20239
24h Volume
$143,606,461
Spread
+0.02%
Price change in 24h
+$0.0003160 ↑ / +0.16%
Pair
SOL/USD
Price
$180.12
24h Volume
$142,033,062
Spread
+0.03%
Price change in 24h
-1.270 $ ↓ / -0.70%
Pair
SHIB/USD
Price
$0.000028570
24h Volume
$79,234,305
Spread
+0.07%
Price change in 24h
-0.00000017000 $ ↓ / -0.59%
Pair
ETH/BTC
Price
$3,639.81
24h Volume
$52,809,908
Spread
+0.02%
Price change in 24h
+$234.71 ↑ / +6.89%
Pair
AERO/USD
Price
$1.890
24h Volume
$47,051,845
Spread
+0.14%
Price change in 24h
+$0.20000 ↑ / +11.83%
Pair
BTC/EUR
Price
$71,554.00
24h Volume
$38,921,641
Spread
+0.03%
Price change in 24h
+$2,123.00 ↑ / +3.06%
Pair
LTC/USD
Price
$103.08
24h Volume
$37,853,863
Spread
+0.02%
Price change in 24h
-0.46000 $ ↓ / -0.44%

    Coinbase is an American platform headquartered in San Francisco. The platform is one of the best exchanges in terms of trading volume, offers fiat pairs and has one of the most user-friendly trading interfaces on the market. In addition, this is a regulated crypto exchange, and the level of users trust is very high.

    Read also: Top crypto exchange.

    Coinbase has an experienced team behind it. The exchange has solid financial backing from major global investors. The mission of Coinbase’s team is to create an open global financial system that makes payments around the world as fast and easy as sending an email.

    In this review from TGDRating experts, you’ll know what opportunities Coinbase gives in the cryptocurrency market.

    Sign Up and Verification

    To access the functionality of the trading platform, you need to register an account. For this:

    1. Go to www.coinbase.com and select Get started in the top right corner;
      Coinbase cryptocurrency exchange
      Start Coinbase Registration
    2. Fill out the registration form: enter first name, last name, email, create password;
    3. Confirm that you are 18 years old and accept the terms of use of the platform;
    4. Click Create free account.
      Coinbase registration form
      Coinbase registration form
    American laws force Coinbase to collect information about its users. That's why, after verification, you need to complete identity verification.

    To verify your Coinbase account:

    1. Enter personal information: name and surname, date of birth, residential address;
    2. Answer the following questions: what will you use Coinbase for, what is your source of funds and type of employment;
      Enter personal details for verification
      Entering personal details for verification
    3. Specify what trading volume you’re planning to achive per year and the type of industry you work in;
      Collect information about a new Coinbase user
      Collecting information about a new Coinbase user
    4. After entering personal data, you will need to pass document identity verification. This will require an ID or passport, as well as a smartphone. Document verification can be done via video call or eID service → press Start;
      Identity document verification
      Document identity verification
    5. After verification of personal data and the documents, you’ll get a letter from the exchange with a notification of update on the status of verification;
    6. The last stage of verification is to confirm your residence address. Upload a document that is valid for the last 3 months and shows dates, your name and address.
    Thus, you can start working on the exchange only after passing a full identity verification.

    Account Security

    As we noted above, Coinbase is a regulated crypto exchange, which is required to regularly publish reports and undergo audits.

    In 2021, Coinbase became the largest public crypto company.

    The platform pays attention to user accounts protection, and has never been hacked since its launch in 2012. But the safety of assets also depends on the users themselves, so it is important to take time to set up security options.

    Basic security options on Coinbase are:

    1. Complex password (the exchange uses password hashing with the bcrypt algorithm);
    2. Linking a phone number to the exchange account;
    3. Two-factor authentication (Coinbase uses its own 2 FA method – Security Prompt);
    4. Account ban when suspicious activity is detected.

    Click on the profile icon, then select Settings → Security to get access to the security settings.

    Coinbase security settings
    Coinbase security settings

    The Account is Created. What’s Next?

    After registration, verification and setting security options, you can start working directly with the trading platform. The first thing you need is to replenish a deposit. Let’s consider what deposit and withdrawal methods there are.

    Deposit and Withdrawal Methods

    You can replenish the exchange account with cryptocurrency and fiat. For example, you want to have Ethereum on the exchange. For this:

    1. Select the Send & Receive in your account;
    2. Then click Receive again and select ETH in the list of supported currencies (use the search bar);
      ETH deposit request
      ETH deposit request
    3. Specify network for transfer (it must match the network in the sending wallet, otherwise you will lose funds);
    4. The system will give you a unique address for transferring ETH: copy and paste it in your wallet;
    5. Wait while your coins will be transfered to the exchange account.
      ETH deposit
      ETH deposit

    Coinbase Trading Conditions and Tools

    The exchange offers the following opportunities for working on the crypto market: buying crypto from a card, spot trading, access to the derivatives market, currency swap service. Let’s analyze all the possibilities in more detail.

    Buy Crypto

    For example, you want to buy USDT and pay for the purchase with a card. For this:

    1. Select the tab Trade → Simple in your account;
    2. Find USDT in the list of currencies (or use the search bar);
    3. Press Buy;
      USDT deposit
      USDT Deposit
    4. Enter the amount of USDT you want to buy in the new window;
    5. Select payment method (e.g. bank card);
    6. Click Preview Buy to check the data;
      USDT Purchase Order
      An order to buy USDT
    7. Check provided data, and if all suits you, click Buy now.
      Buy USDT
      Buy USDT
    All the user's assets are displayed in the personal account in the Assets tab.

    You can set up a payment method in advance. To do this, click on the profile icon, select Settings → Payment methods → Add a payments methods. You can also remove the payment method if it is not relevant (use button Remove).

    Setting up payment methods
    Setting up payment methods

    Spot Market

    Coinbaseone of the most liquid spot crypto exchanges. The platform features a dynamic fee structure, meaning the more you trade, the less fees you pay.

    550+ trading pairs are available for trading on the Coinbase spot market.

    Fees and Limits

    As noted above, the fee structure on Coinbase is dynamic. The final commission on the transaction becomes known only during the transaction. It is based on the exchange’s assessment of prevailing network fees and is calculated on a per-transaction basis.

    Trading fees on Coinbase are: 0 – 0.4% for makers and 0.05 – 0.6% for takers. For pairs with stablecoins the fees are: 0% for makers and 0.001% for takers.

    Transferring cryptocurrency from the main balance of one Coinbase user to the main balance of another exchange's user is free.

    How to Trade on the Coinbase Cryptocurrency Exchange

    To create an order to buy/sell an asset on the Coinbase spot market:

    1. Select the tab Trade → Advanced in your account,;
    2. Specify a trading pair, for example, ETH/USDT;
      Select trading pair
      Selecting a trading pair
    3. Create a buy/sell order (to the right of the chart);
    4. To make buying, select the Buy tab, specify the order type (for example, Market for an instant buy at the current market rate) and quantity of coins you want to buy;
      ETH/USDT trading
      ETH/USDT Trading
    5. Click Buy.

    Other Coinbase Services

    In addition to сommon trading there are other earning opportunities available on the platform. Let’s consider all the tools in more detail.

    Coinbase One

    Coinbase One
    Coinbase One

    Every exchange user can join Coinbase One. This is a subscription product that provides the following benefits:

    • No trading fees;
    • 24/7 technical support;
    • Insurance of $1M value accounts;
    • Analytics and research from Messari Pro;
    • Exclusive staking conditions

    Coinbase Referral Program

    The Coinbase referral program allows users to receive bonuses for inviting new users to the platform. As soon as the user you invited registers an account on Coinbase by following the unique referral link and completes a cryptocurrency trade, both of you will receive a bonus. Its size may vary and depends on the country.

    The referral link contains a code at the end that makes it unique. For example, your referral link might look like this: https://www.coinbase.com/join/YOUR_REFERRAL_ID

    Coinbase Wallet

    Another exchange product is Coinbase Wallet. This is a crypto wallet for storing digital currencies and NFTs with support for a large number of assets and Dapp applications.

    Exchange’s clients can easily link their account to their wallet and have quick access to their assets.

    Crypto wallet from Coinbase
    Coinbase Crypto Wallet

    Learning Rewards

    Coinbase users can also earn cryptocurrency by learning the crypto sphere. Tutorial Rewards Program pays out in cryptocurrency for watching videos, taking tests and other activities.

    Tutorial Rewards Program
    Tutorial Reward Program

    Coinbase App

    The crypto exchange has a mobile application for trading, exchanging and storing crypto assets. The mobile version of the trading platform can be downloaded from the Google Play and App Store stores.

    Coinbase Reviews

    The exchange has been operating since 2012, and during this time millions of traders and investors around the world have used its services. Users often share their experience with crypto services, and their meanings can be both positive and negative.

    Among the advantages of Coinbase, users note:

    • Friendly and intuitive interface that is easy to understand;
    • High liquidity;
    • The ability to deposit and withdraw funds in fiat (with a card, PayPal, etc.);
    • Multifunctionality: spot trading, quick purchase of crypto by card, NFT, options for passive income (rewards for training, staking, referral program), crypto wallet, solutions for developers, etc.;

    Negative meanings are associated with:

    • Problems with withdrawing of funds;
    • Slow support response;
    • Complex verification;
    • Sanctions against russian users.

    Coinbase Pros and Cons

    Large trading volumes;
    One of the most convenient trading interfaces;
    Availability of licenses;
    Withdraw fiat to a card, using bank transfers SEPA, PayPal, etc;
    Unique conditions for institutional clients and developers;
    Additional services: Coinbase One, reward program, referral program, crypto wallet;
    Coinbase Card;
    Best industry security standards.
    Complicated verification process (to access the functionality of the platform, you must pass a full identity verification, including address verification);
    Dynamic commission structure does not allow you to know the final commission on the transaction in advance.
    No margin trading;
    Sanctions for users from Russia ($10,000 limit).

    FAQ

    Can I trust Coinbase?
    Yes, Coinbase is an American regulated cryptocurrency exchange with high tradings volumes and permanent audit checks.
    Where is Coinbase based?
    Сoinbase headquaters placed in USA, Califonia, San Francisco.
    Does Coinbase accept Paypal?
    Yes, it does. Coinbase supports Paypal as a deposit and withdrawal method.
    How much does Coinbase charge to withdraw?
    Coinbase uses a dynamic fee calculation system. Due this you may know your withdrawal commisions amount only in the moment of making withdrawal order.
    Can you withdraw from Coinbase without KYC?
    No. You can't make any action in Coinbade ecosystem without finishing KYC.
    Can I withdraw from Coinbase to bank account?
    Yes. Coinbase supports transfer to bank accounts, but only for US, UK and EU сustomers. To add your bank account to Coinbase you need to:

    1. Open the trading view at exchange.coinbase.com/trade;
    2. Select Deposit on the left-hand column under Wallet Balance;
    3. In the Currency Type field, select USD, GBP or EUR (depending of your residence country);
    4. Select the Bank Account tab in the Deposit menu → From → Add Account;
    5. Follow the instructions to complete the bank account verification process.

    Can I withdraw from Coinbase to a credit card?
    Yes, if you are a resident of US, UK, EU or Singapore and have a Visa Fast Funds or MasterCard Send-enabled card. In addition, you have to link your card to Coinbase before the transaction and verify it. To make a transaction in EU region:

    1. Ensure you have enough money in your Euro balance;
    2. From your Euro balance select Cash out;
    3. Choose your linked card from the menu as the cash out option.

    For EU customers Coinbase charge fees: up to 2% of any transaction and a minimum fee of €0.55. The minimum cashout amount must be greater than the fee of €0.55.

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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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