Coinbase review (All you need to know)
Table of Contents
Coinbase review (All you need to know)
Coinbase is cryptocurrency exchange company that provides you a means to buy and sell digital currencies.
Coinbase was founded in 2012 by Brian Armstrong and Fred ehrsam.
In this coinbase review, am going to be writing about everything you will need to know about this particular exchange.
Let’s get into it then..
Visit coinbase website here
Table of contents
1. Coinbase
2. Coinbase supported e-currencies
3. Coinbase supported countries
4. Coinbase payment methods
5. Coinbase services
6. Coinbase fees
7. Is coinbase safe?
8. Is coinbase supported in Nigeria
9. Advantages of coinbase
10. Coinbase alternatives
11. Conclusion
Coinbase
Coinbase is cryptocurrency exchange company that provides you a means to buy and sell digital currencies.
Coinbase was founded in 2012 by Brian Armstrong and Fred ehrsam.
Coinbase initially started as an exchange were you could buy bitcoin directly, but overtime, more services has been added.
Coinbase is one of the biggest cryptocurrency exchanges in the world and supports over 103 countries worldwide.
Coinbase supported e-currencies
Coinbase supports the following currencies
Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Bitcoin cash(BCH)
Ripple (XRP)
Stellar lumens (XLM)
EOS (EOS)
Basic attention token (BAT)
Coinbase has often been criticised for it’s failure to add more cryptocurrencies.
Coinbase supported countries
Coinbase supports over 103 countries:
Angola, Benin, Botswana, Cameroon, Ghana , Kenya, Mauritius, Namibia, Rwanda, South Africa, Tunisia, Uganda, Zambia, Armenia, Bahrain, Brunei Darussalam, Hong Kong, India, Indonesia, Jordan, Kazakhstan, Korea, Kuwait, Kyrgyzstan, Macao, Maldives, Mongolia, Nepal, Oman, Philippines, Singapore, Taiwan, Uzbekistan, Australia, New Zealand, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Aruba, Bahamas, Barbados, Bermuda, Canada, Cayman Islands, Costa Rica, Curaçao, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicaragua, Panama, Trinidad and Tobago, United States, British Virgin Islands ,Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay
Coinbase payment methods
Coinbase accepts the following payment methods:
Bank transfer
Bank wire
Credit card
Debit card
Coinbase services
Coinbase intiallly started as a direct exchange where users can buy Bitcoin from, but over the years, it’s services has increased.
Some of coinbase services are:
Coinbase brokerage service
This is the service that allows you to buy bitcoin with your credit card.
To buy Bitcoin, you will need to register an account. There are usually buying limits for registered accounts.
To remove the limits, you usually have to upload some sort of identification like a valid driver’s license or some of sort.
Coinbase wallet
Coinbase also offers wallet services that allows you to keep your Bitcoin on the exchange.
Coinbase has wallets for both IOS and android.
Although secure, it is never advisable to keep your assets on exchanges. It is better you move them away from the wallet of the exchange.
Hardware wallets are the most secure type of wallets to store your digital assets.
Coinbase pro
Coinbase pro is cryptocurrency trading platform. This platform allows you to trade on the supported currencies of coinbase.
Coinbase payment gateway
Coinbase also has a service that allows you to accept cryptocurrency payments on your website.
Coinbase fees
Coinbase fees are:
Bank transfer : 1.49%
Bank wire: 3.99%
Credit card: 3.99%
Debit card: 3.99%
Is coinbase safe?
Coinbase is considered a fairly safe exchange, and it is trusted by millions of users who are into buying and selling of cryptocurrency.
It is an established company, and has a large amount of successful trades per day.
You can safely buy and sell cryptocurrency on coinbase. After successful purchase, you should always move your assets away from the coinbase wallet.
Is coinbase supported in Nigeria?
As at the time of writing this blog post, coinbase doesn’t support Nigeria.
If you want to get involved in buying and selling cryptocurrency, you could try these trusted Nigerian exchanges.
Naira2usd:
Naira2usd is an e-currency exchange in Nigeria, owned by simac c & s services and funds ( buy,sell and exchange).
You can buy perfect money, bitcBit, webmoney, ethereum, litecoin, dash, bitcBit cash e.t.c.
One advantage of the Naira2usd platform is that you can buy or sell e-currency without going through the usual rigorous verification process that other platforms put you through.
Naira4dollar:
Naira4dollar is a company of sunej global ventures limited, it is an e-currency exchange company that has been in operation since as far back as 2006.
Naira4dollar is registered with the CAC with registration code RC-1069456.
Instantgold Nigeria:
Instantgold Nigeria is a Nigerian e-currency exchange that was established in the year 2007, they specialize in the provision of fast and efficient e-currency exchange to their clients.
Nairaex:
Nairaex is a Bitcoin exchange platform that is based in abeokuta, ogun state, Nigeria.
Nairaex is into buying and selling of different types of e-currencies, unlike peer to peer exchange, that already have in stock whatever e-currency that you want to buy.
Advantages of coinbase
1. Coinbase is a trusted cryptocurrency exchange
2. Coinbase has one of the largest trade volumes.
3. Coinbase fees are minimal compared to some other exchanges.
4. If you’re new to trading, coinbase is a very good option as it is not very complicated.
Coinbase alternatives
Bitpanda
Cex.io
Coinmama
Conclusion
Coinbase is a great exchange and it is also trusted. If you re looking to get into trading cryptocurrency, coinbase is a great option.
The only compliants that has been pointed at coinbase is usually their poor support.
Although they do have a very robust knowledge base where you can get answers to most of your complaints.
Chances are someone has already encountered a similar(if not the same) problem to yours.
It might be a little complicated for Nigerians as it is not supported, but there are other reliable exchanges where you can safely buy cryptocurrency from.
I hope you have enjoyed reading my coinbase review and now have a great idea of this exchange and it’s operations.
Thank you for reading, if you have a question, leave them below or if you also have a contribution, you can also leave it below.
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