BTC
18980
DOGE
0.0632
ETH
1323.1
LTC
53.65
EN
RU

Coinbase is the second most popular cryptocurrency exchange in the world, according to CoinMarketCap, and the top platform in the US. The service began its operation in 2021. The platform offers its users a rather wide range of services: holding digital coins in decentralized wallets, purchase of cryptocurrencies and trading at the exchange. Users who prefer active trading can also test Coinbase Pro, the broker’s daughter platform.

The number of registered users exceeds 73 million, according to the broker’s official website. These are mostly traders from the US, Western Europe, Australia and even CIS countries. Notably, unlike dozens of similar services, Coinbase holds over 40 licenses (BaFin, JFSA and other regulators), which greatly improves the trust towards the exchange.

IMPORTANT NOTICE! Some features of this exchange can be evaluated diametrically opposite, depending on the region of registration. For example, this applies to those who wish to remain as anonymous as possible. Therefore, in this review, we will try to focus on these features, while you can decide for yourself whether they are benefits or drawbacks depending on your goals.

Below, we will discuss the key features of the cryptocurrency exchange and learn what you need to do to start trading digital assets.

Coinbase rating

Total score 7,5
Commissions Commissions 7
Security and regulation Security and regulation 10
Markets Markets 7
Passive income Passive income 7
Deposit and withdrawal Deposit and withdrawal 7
Trading platforms Trading platforms 7
Analytics Analytics 7,5
Education Education 9
Customer support Customer support 5
Bonuses Bonuses 7

Coinbase Pros and Cons

The exchange is considered to be one of the best crypto platforms, and the second largest after Binance in terms of trading volume. The key benefits of the exchange include a user-friendly interface, safety and legitimacy. The drawbacks are high fees (compared to other exchanges) and zero anonymity. Let’s review the pros and cons in detail.

Pros
Secure and user-friendly wallet. Good mobile app.
High level of security. Coinbase holds 99% of clients’ cryptocurrencies in cold storages, and also pays huge attention to security issues.
Referral program. You can invite new customers and earn a commission, if the trade amount is higher than $100.
Deposit insurance. This option is available only to US citizens, if they hold their money in US dollars and use Coinbase wallet.
Legitimacy. Coinbase complies with the law of 32 countries, where it operates. This improves reliability and trust towards the exchange.
Simple interface. The exchange is excellent for beginners. The interface is simple and intuitive. You can get access to the functionality and transactions of the exchange in just a few clicks.
Cons
Geography. Coinbase services are not supported in some countries.
Weak support. Support operators take a long time to respond. Sometimes, they resolve an issue only when posts about it appear on Reddit.
Long verification. The exchange asks users to provide a lot of personal information. As a result, verification can take up to several days. This, however, can also be viewed as an advantage, as it proves reliability of the exchange. The exchange strictly observes KYC.
The equipment of the exchange lacks power during peak hours, when very many users use it at the same time. As a result, the website freezes and the transactions are slow.
No anonymity. The exchange actively works with the tax authorities of partner countries, which could be a drawback for some potential customers.
Restrictions on money transfer transactions. The exchange claims it is for preventing fraud. The restrictions are based on several factors, including age, payment method, transaction history.

Basic information

Name Coinbase
Website www.coinbase.com
Exchange type Centralized
Regulation BaFin, JFSA and other regulators
Taker fee from 0.04% to 0.50%
Maker fee from 0.00% to 0.50%
Demo account Yes
Minimum deposit $2
BTC withdrawal limits Depends on the level of verification and country of citizenship of the trader. For example, verified US citizens can withdraw up to $50,000 in the cryptocurrency equivalent.
USD withdrawal limits Individual for each trader depending on the verification level and country of citizenship. For example, US traders can withdraw up to $50,000 per day to a bank account.
Withdrawal in Fiat Available
Time frame for account opening Account opening is immediate, but you need to verify your account to start trading. Verification can take 2 weeks or longer. The exchange can refuse to verify a trader if his country is not on the list of Coinbase partner countries.
Leverage Margin trading was suspended in November 2020 following the resolution of the US regulator Commodity Futures Trading Commission (CFTC)
Markets 467
Passive income options Staking, multi-tier referral programs.
Customer support languages English
Deposit options Bank transfer, debit/credit cards, crypto wallets, electronic payment systems (PayPal)
Withdrawal options Bank transfer, debit/credit cards, crypto wallets, electronic payment systems (PayPal)
Account currencies US Dollar, British Pound, Euro; Coinbase wallet also supports a number of cryptocurrencies: Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, Ripple.
Promos Referral program, COTI
Author of the review
Alex Brown
Alex Brown

Alex Brown is a financial consultant and analyst with over ten years of experience. He has been an active trader in the cryptocurrency market since 2017. Brown specializes in building and diversification of investment portfolios.

“I am confident that the financial risks must be calculated mathematically, otherwise it’s not investing, it’s gambling,” he says.

Coinbase commissions and fees

7

Coinbase has a simple and clear fee structure. You can find the information about all fees in the Exchange fees section of the exchange’s Help platform.

Pros
No fees for using the wallet to hold tokens
The exchange pays the fees for network transactions (from another platform to Coinbase)
When buying an asset, the spread is included in the price to fix its value
Cons

Trading fees

Coinbase Exchange uses the maker and taker fee model to determine the trading fees. The orders that provide liquidity (maker orders) are charged with a different fee than the orders that take liquidity (taker orders). The fees are calculated on the basis of your pricing tier at the moment of order placement, and not on the tier you are after closing the trade.

In other words, if you are placing an order at the market price, which is executed instantly, you are considered a taker and you pay a fee from 0.04% to 0.5%. When you are placing an order that does not correspond to the existing order, this order is placed in the order book. If another client places an order that corresponds to your order, you are considered a maker and you pay a fee from 0.00% to 0.5%.

Pricing tier Taker fee Maker fee
$0 – 10,000 0.50% 0.50%
$10K – 50,000 0.35% 0.35%
$50K – 100,000 0.25% 0.15%
$100K – 1,000,000 0.20% 0.10%
$1M – 10,000,000 0.18% 0.08%
$10M – 20,000,000 0.18% 0.08%
$20M – 50,000,000 0.15% 0.05%
$50M – 100,000,000 0.15% 0.05%
$100M – 300,000,000 0.10% 0.02%
$300M – 500,000,000 0.08% 0.00%
$500M – 750,000,000 0.06% 0.00%
$750M – 1,000,000,000 0.05% 0.00%
$1B – 2,000,000,000 0.04% 0.00%
$2,000,000,000 + 0.04% 0,00%

Notably, there is a fixed taker fee at 0.01% and zero maker fee for certain trading pairs with stablecoins:

Stable pairs Taker fee Maker fee
DAI - USDC
DAI - USD
PAX - USD
PAX - USDT
USDC - EUR
USDC - GBP
USDT - EUR
USDT - GBP
USDT - USDC
USDT - USD
UST - USD
UST - USDT
UST - EUR
WBTC - BTC
0.01% 0.00%

Non-trading fees

The exchange does not charge non-trading fees. The wallet for US dollars and digital assets is absolutely free. Also, no fee is charged for transactions from one Coinbase wallet to another.

Notably, a user may be charged the blockchain fee or a bank fee (if a bank transaction is involved) on deposits/withdrawals. The exchange does not charge fees on these transactions.

US traders can have a Visa Coinbase debit card issued for them. They can use it to pay with any asset from their Coinbase portfolio (including US dollars) and even receive a reward for each purchase (in some cases a cashback of up to 4% is available). If you use a card to perform any transactions or to pay for purchases you will have to pay a 2.49% fee on the transaction.

Average commission compared to competitors

Coinbase Binance Huobi Global
Taker 0.17% 0.08% 0.13%
Maker 0.1% 0,06% 0,13%

The maximum fee at the exchange is 0.5% of the transaction amount. Based on this, a conclusion can be made that the fees of Coinbase are currently at a medium level, as you can get rather good indicators with the growth of the trading volume.

Margin lending

Margin lending was suspended on Coinbase on November 25, 2020. Starting from December 1, 2020, margin lending was stopped completely.

However, users of the exchange can simply use the Borrow feature. Traders can take out a loan for an amount of up to US 1 million using Bitcoins on the trading account as a collateral. The annual percentage rate in this case is 8%, which is rather good. Interest due ($10 min.) is a mandatory monthly payment. Notably, this service is available only to residents of Idaho, Alaska, Arizona, Arkansas, Wyoming, Washington, Virginia, Illinois, California, Nebraska, New Hampshire, New Jersey, Ohio, Oregon, North Carolina, Tennessee, Texas, Florida, and Utah.

Coinbase Reliability and Regulation

10

The cryptocurrency exchange was established on June 20, 2012 in Wilmington, Delaware, USA. The company’s legal address is: 1209 Orange Street, Wilmington, Delaware 19801, USA

The exchange holds around 40 licenses of different countries and US states, under which the exchange’s services are provided to traders. These include:

  • Crypto custody license in Germany. Regulator: BaFin, June 28, 2021. BaFin is the German Federal Financial Supervisory Authority. It is a part of the Federal Government of Germany. Notably, Coinbase was the first to receive the license for cryptocurrency business in Germany. The regulator officially recognized holding cryptocurrencies as a financial service.
  • License for operation in Japan, issued on June 18, 2021. Regulator: Japan’s Financial Services Agency (JFSA). In March 2020, Coinbase joined that Japanese self-regulatory crypto association, approved by the FSA.
  • License for operation in Ireland, issued on October 14, 2019. Regulator: Central Bank of Ireland. The license helped the exchange expand its Ireland operations and also conduct business in any other EU country without the need to obtain a license from each country. This, however, gets a bit complicated with Brexit. It is possible that the company will have to withdraw all assets from this country.
  • License of the British regulator FCA that allows the exchange to perform e-money transactions in the EU countries.

Also, the exchange is preparing to obtain the official banking and brokerage license in the near future.

In the entire history of the exchange’s operation, there had been only one successful hacker attack. The hackers managed to steal digital assets from the accounts of more than 6,000 user accounts. The total amount of losses was not disclosed. However, the platform very quickly resolved the issue and the funds were returned to the traders literally within a few days.

This situation clearly showed how quickly the services of the exchange work and that every user is protected.

After the hack, the security of the cryptocurrency service was substantially enhanced:

  • Sensitive information about the clients is stored on separate servers;
  • AES-256 encryption is used for the protection of user information.

To make user profiles secure, the exchange introduced two-factor authentication. To access your account, you need to enter the password sent to your phone. User passwords are checked for strength. There is also a limit on the number of authorizations in the wallet and a saved IP address policy.

All in all, the security measures ensure reliable protection of user data and finance.

Markets and products

7

The exchange offers access to a wide selection of diverse assets that are conveniently structured by categories. Notably, you can find both top assets, second-level coins and rather exotic tokens at the exchange. Also users are offered several passive income options, including lending, staking and various referral programs.

Pros and cons of market diversity on Coinbase
Pros
Wide selection of assets, including DeFi tokens
Cons
Futures are not available
Coinbase Markets
Coinbase Binance Huobi Global
Cryptocurrencies 158 403 420
Trading pairs 467 1,634 1,068
Bitcoin Yes Yes Yes
Etherium Yes Yes Yes
Altcoins Yes Yes Yes
Futures
and options
No Yes Yes
Cryptocurrency funds (a basket of cryptocurrencies in one lot) No No No
NFT Yes Yes Yes
Cryptocurrencies (spot)

As of February 2022, over 150 various cryptocurrencies that form nearly 500 trading pairs are available on Coinbase. Major coins are available, such as Bitcoin (BTC) and Ethereum (ETH), as well as second-level tokens and also exotic trading positions. The general picture is supplemented with stablecoins and DeFi assets. The list of trading instruments is continuously updated.

Cryptocurrencies (Futures)

At the moment, the exchange does not offer futures and options trading. However, in autumn 2021, the administration of the exchange announced that the exchange plans to add cryptocurrency derivative instruments. According to the information published on Bloomberg, Coinbase Global has filed an application with the National Futures Association (NFA) to register as a futures commission merchant under the name of Coinbase Financial Markets Inc. The exchange will offer cryptocurrency derivatives to be less dependent on spot trading fees.

Passive income on Coinbase

7

In addition to active trading on the exchange, traders can earn passive income through staking. In order to earn passive income, users can stake such tokens as Ethereum 2.0 (ETH2), Tezos (XTZ), Cosmos (ATOM) and others. The APY in this case is up to 5%. Notably, independent staking is currently a rather complex procedure. That’s why the users of the exchange are offered a simplified option, where Coinbase organizes the staking, generates and signs the blocks on your behalf, while you retain full ownership of your tokens and earn the rewards.

The rewards are accrued to your user account periodically (depending on the chosen asset).

Passive earning is available to users who have had their identity verified and provided a valid TIN.

Note that staking is available only in certain regions and countries. You can find the full list on the pages of the support center.

Passive income on Coinbase

You can learn more about staking on Coinbase here.

Account opening on Coinbase

7

In order to start investing and trading on Coinbase, the first thing to do is to create an account on the platform. The process consists of two steps – filling out a user questionnaire and account verification. In total, the entire procedure can take up to one month depending on the system congestion.

Account opening on Coinbase
Pros
Security advice from the exchange. Several types of 2FA.
Cons
Long identity verification, and the exchange may refuse to verify the user.
Limited list of partner countries of the exchange
Coinbase provides user data to tax and financial authorities (some users publicly complained about it).

Residents of which countries can trade at the exchange

As of now, registration and trading at the exchange is prohibited for citizens and residents of Iran, Cuba, Hong Kong, Crimea, North Korea, Bangladesh, Syria, Bolivia.

Also, trading and working with the exchange is available to users of only several US states, including Idaho, Alaska, Arizona, Arkansas, Wyoming, Washington, Virginia, Illinois, California, Nebraska, New Hampshire, New Jersey, Ohio, Oregon, North Carolina, Tennessee, Texas, Florida, and Utah. Residents of other states cannot register at the exchange.

Coinbase:
How to Open an Account

In order to open an account at the crypto exchange, you need to take three steps:

  • register;
  • activate and verify your identity;
  • fund your account.

Let’s take a closer look at them.

Step
1

Registration. Click “Get Started.” www.coinbase.com

Account opening on Coinbase
Step
2

Provide your First Name, Last Name, Email and Phone Number. Come up with a password. Click “Create Account”.

Register a Coinbase account
Step
3

Next you need to verify your email. You just need to click on the link inside the verification email and you will be directed back to Coinbase.com. You will need to sign back in to complete the email verification process.

Create a Coinbase account
Step
4

The final step of registration is verification of your phone number. There is nothing unusual in this step – the confirmation code will be sent to your phone, and you will need to enter the code on the confirmation page. This completes registration.

Confirming a phone number on Coinbase Confirming an account at Coinbase

Verification on Coinbase

Identity verification is mandatory on the platform. It can take two weeks or longer. Coinbase strictly observes KYC and AML and also the regulations of the countries where the exchange operates. Verification is available only to users from Coinbase partner countries.

If the user country is not on this list, he will get a notification. Access to verification and trading will be blocked.

Note that if a user resides in one country and his identification document was issued in another country, the verification will also not be available.

You can find information about the specifics of the verification process for residents of different countries on the pages of the exchange’s Help platform.

In order to verify your identity, you first need to choose the ID type. Note that the accepted identity documents differ for different countries. For example, for the United States, only Driver's License or Identification Cards are accepted, while US Passports or US Permanent Resident Cards (Green Cards) are not.

Verification on Coinbase exchange

Next you will need to send a photo of your ID and a selfie with the ID to verify your identity. Coinbase Help offers detailed instructions on how to take photos to avoid a failure.

The next step is setting up your account security. It is a standard 2FA procedure that works with SMS confirmation codes. You can turn this option off.

In your personal account, go to Settings and select Security.

Security on Coinbase

Coinbase offers three 2FA options:

  • SMS text
  • TOTP authenticator
  • Security key

Keys and authenticators are more secure than your phone, because it can be hacked. The majority of Coinbase users prefer Google authenticator .

Authenticating at Coinbase

In addition, 2FA can be set up separately for certain transactions, for example withdrawals.

Here are some more security advice from Coinbase:

  • use a strong and unique password (for example using key manager or password generator);
  • use a secure email when registering at the exchange (for example, you can check whether your email box has been hacked or not by using havebeenpwned). It is better to create a new email specifically for the exchange.

The verification procedure at the exchange is very long, compared to competitors. You may have to wait for 2 weeks or even a month before you are granted access to trading cryptocurrencies. In addition, Coinbase only works with partner countries. If the country is not on the list, Coinbase does not guarantee that you will be able to use the exchange fully.

Minimum deposit

There is a minimum deposit only for wire transfers. In this case it is $2. This is quite convenient, as you can start trading with a minimum amount. This makes the exchange accessible for all categories of users.

Exchange Coinbase Binance Huobi Global
Minimum deposit $2 $5 $20

Compared to the competitors, the exchange offers better minimum deposit conditions.

Account types

Immediately after registration, a user has access to two account types: main account (wallet) and trading account. Also, there is a division inside the trading account by several accounts based on the types of assets: spot trading and staking. You can transfer funds between the accounts at any time and absolutely free.

Deposit and withdrawal on Coinbase

7

To deposit money on Coinbase, you can use a bank transfer, e-wallets, and debit/credit cards. It is rather convenient for those who are new to cryptocurrencies. You need to be mindful of the fees, while they differ depending on the deposit/withdrawal option that you are using. Compared to competitors, Coinbase charges rather high fees.

Pros
You can deposit and withdraw funds for free through the ACH bank transfer system.
You can exchange cryptocurrencies in your personal account directly, without conversion into US dollars. However, a 2% fee will still be charged.
The platform offers a convenient withdrawal limit system (depends on the chosen withdrawal option and the country of the trader)
Cons
The initial limit on debit/credit card transactions is $750; it increases as the user’s documents are verified and confirmed.
Coinbase: deposit and withdrawal options and processing time
Deposit/withdrawal option Fee Deposit/withdrawal processing time
Bitcoin 0.0% Usually the transaction is instant, but the exchange declares processing time of up to one working day.
Ethereum 0.0% Usually the transaction is instant, but the exchange declares processing time of up to one working day.
Coinbase* card 2.49% on all purchases Almost instantly – comparable to the transaction speed of a regular debit/credit card
Electronic payment systems: PayPal – 1.49% Up to 2 working days
Other options ACH – bank transfer (free) SEPA – bank transfer 0.15% From 3 to 5 working days
*you may also be charged with the ATM’s operator fee or payment terminal fee.

The possibility to make deposits using other e-wallets (for example WebMoney) is lacking. Despite that the USDC expenses are not charged on the Coinbase card, Coinbase charges a fixed fee of 2.49% on all purchases, including ATM withdrawals. Just for your information, the Coinbase card is a debit Visa card you can use to pay with any asset from your Coinbase wallet, including the US dollars, and receive a reward for each purchase. In other words, you can use it anywhere where Visa debit cards are accepted.

Coinbase Trading Platforms

7

You can trade at the exchange using the website or a mobile app. Let’s take a closer look at the pros and cons of trading on the platform.

Pros and cons
Pros
All required orders are available
User-friendly interface with all the necessary instruments
Tradingview charts
Cons

Three orders are available on the platform, but you can apply additional options to them, which we will discuss below:

  • Limit Order — the order will be executed at the specified price or higher;
  • Market Order — the order is executed immediately at the best available current market price;
  • Stop Order — in this case a trader’s task is to specify the price. Once the market price reaches the specified level, the order will be executed.

The most important thing is that you can use additional options that considerably expand the basic features. In our review, we will show the main options of limit order execution and will share a small lifehack – if the price changes suddenly, at the time of order placement it may turn out to be market price and then a Taker fee is written off the trader, but this can be avoided by using the Post Only option. Let’s discuss it in more detail.

You can choose one of these options if you want your order to be registered.

Post Only guarantees that your limit order is posted in the order book and stays in the order book to be charged a Maker Fees if it is filled. If any part of the order would execute immediately due to its price when arriving at the matching engine, the entire order will be rejected. Thanks to this, the order will not be charged with a Taker Fee.

If you do not enable Post Only Taker Fees will be charged on any part of an order that is at a price that would execute immediately. At that, any remainder of the order will remain in the order book and will be charged Maker Fees if filled.

Allow Taker will allow the order to be executed regardless of whether it crosses the spread to fill an existing order. Spread is the difference between the buy and sell price of an asset. If any part of the order crosses the spread, that portion will be assessed according to the taker fee rate.

The other important criteria that can also be used are the expiry options (they are sometimes referred to as the Time in Force instructions), which are used to indicate the lifetime of an order. There are three of those on Coinbase:

Good ‘Til Canceled (GTC) – this type of order will be placed in the order book and remain valid until you cancel it.

Immediate or Cancel (IOC) – this type of order will be placed and if it is not immediately filled, it will automatically be canceled and removed from the order book.

Fill or Kill (FOC) – this order type will only complete if the entire amount can be matched. Partial matches are not filled with this order type and will not execute.

Summing up, some may say that the number of orders is not enough. However, if you look at it closer, a conclusion can be drawn that the three main options combined with the additional options are sufficient for successful trading.

Two types of charts are available at the exchange for analysis: the exchange’s own chart and TradingView chart, which you can switch between in just a few clicks. Thanks to this, traders can analyze the performance of an asset using the entire range of instruments.

Comparative table of features
Web Mobile
Two-factor authentication + +
Time frame range + +
Order types Market, Limit and Stop Market, Limit and Stop
Quote history + +
Number of indicators + +
Trading platforms. Comparison with competitors
Coinbase Binance Huobi Global
Web Yes Yes Yes
Android Yes Yes Yes
iOS Yes Yes Yes
Desktop No Yes Yes
Trading platform features

You can trade cryptocurrencies using both the exchange’s website and the mobile app.

Coinbase Web Platform

The official webpage of the service has a simple and laconic design. All the important sections are featured in a convenient horizontal menu on the top of the page. All categories of assets and trading pages, as well as rules and instruments for technical analysis are well structured. There is a search bar on the main page, where you can find the required asset for your convenience.

The exchange has separate pages for individuals and businesses. It is quite useful, as these categories of users often have different goals at the exchange.

The top menu also features Learn and Analytics sections. In the footer of the page, you can find basic organizational information: User Agreement, Registration information and important hyperlinks.

Coinbase Mobile Platform

The mobile app of the exchange boasts an attractive design and the same features as the web version. The mobile app is available for Android and iOS devices.

Analytics on Coinbase

7.5

The exchange has its own analytical section titled Coinbase Analytics. For full or demo access to the section, you need to send a request and select a set of instruments you are interested in. The exchange claims that Coinbase Analytics receives information from open sources and does not use Coinbase user data, while the scale and depth of the offered instruments is rather impressive.

Structured and consolidated information enables verification and compliance with cryptographic requirements for governments, financial institutions and crypto companies. It becomes possible to connect cryptocurrency transactions to real-life entities using publicly available blockchain attribution data; the ability to monitor risks on millions of addresses; investigate fraudulent activities across Bitcoin, Ethereum, etc.

For better understanding of peculiarities of operation of the offered instruments, a demo access is offered for you to be able to conclude whether they are suitable for your specific tasks.

Analytics on Coinbase

The Market News section is rather a digest of the latest important events.

Notably, both blog and the Market News section are regularly updated, and therefore users clearly do not experience any lack of information.

Also, if you have no desire to search for new information on your own, you can subscribe to the automatic newsletter Coinbase Bytes and also be up to date on the events.

Education on Coinbase

9

Coinbase offers rather simple and clear options for education and detailed learning of the cryptocurrency market.

Pros
You can earn by learning.
Clear explanations.
You can earn several different tokens.
Cons
Prolonged verification process before starting to learn.
Videos on YouTube are available only in English.

The first option is Coinbase Earn. It’s an educational program that enables users to earn stablecoins in the amount of up to $167. Those who participate in this program will earn DAI. Coinbase wrote about it in a blog. Users watch educational videos and complete quizzes and in return DAI is credited to their wallet. For example, Coinbase offers $6 for learning information about the DAI cryptocurrency. Coinbase allocated a total of around $100 million for the educational program.

Coinbase educational program

In the footer of the website, you can also find hyperlinks to educational materials for beginners: “What is Crypto?”, “What is a blockchain?”, and more.

Coinbase for beginners

Each of the links directs traders to a separate page Tips and Tutorials that features easy-to-understand materials.

Coinbase FAQ

You can also find educational content on the YouTube channel of the exchange and on social media. Traders can use any convenient format to study the market and cryptocurrency industry.

Coinbase: Customer Support

5

Live phone support has been available at the exchange since 2017. The goal of Coinbase is to make the platform the simplest and most convenient to use with a high degree of reliability.

Pros
There is phone support, which not all exchanges offer.
Detailed feedback form in the Coinbase Help Center on the website.
The feedback section is well segmented. There are sections for individuals, businesses and also developers. There are icons to make it easier for you to choose what your issue is related to.
Cons
The support doesn’t resolve all issues of users due to the huge number of requests. Reviews are mixed.
There are too many things to fill out in order to send a request to the customer support. You do have an opportunity to explain your issue in detail, but that doesn’t work, when you need something resolved quickly.

The exchange has a very big help center, where anybody can find answers to their questions.

Coinbase: Customer Support

Traders can also communicate with a chat bot or send a ticket to an email. However, the probability of getting the result is minimal.

Channels of communication

There are several ways to contact Coinbase customer service:

  • Phone: +1 (888) 908–7930. Calls are accepted Monday through Friday from 10 am till 6 pm PT (-7 GMT);
  • Local phone: +1 (844) 613-1499 (for travelers). Calls are received 24/7;
  • Instant messengers (same phone numbers);
  • Sending a ticket on the website using a special form.

Customer support service operators will be happy to help you resolve such issues as:

  • a suspicion that your account was blocked or personal user data was leaked;
  • account verification;
  • increasing transaction limit.

However, customer support service operators will not be able to help you resolve such issues as:

  • purchase and sale of cryptocurrencies;
  • deposit/withdrawal;
  • transaction history.

In the first year of its operation, customer support service received 442 negative reviews, which is understandable, since the number of users was growing rapidly, customer support received dozens of thousands of requests a day and the operators simply could not resolve all issues in time. Now, the level of customer support has stabilized and the majority of users are happy with the results. The service has a Twitter page, where the responses to the frequently asked questions are posted. Customer support is, however, available only in English.

Bonuses and promos on Coinbase

9

The exchange regularly has special offers and holds tournaments. However, at the time, when this review was being prepared, no special offers were available.

The exchange offers these permanent programs:

1. Referral links

The exchange offers referral links and promo codes. You can get $25 to your deposit account using them. In order for you to get the bonus on a referral link, the invitee needs to buy or sell cryptocurrency at the exchange for an amount of over $100. Also, Coinbase awards a $10 welcome bonus when you register at the exchange.

2. $20 Recurring Buy Reward

This option is available to those who have recently registered on Coinbase. In the Rewards section you need to choose the Recurring Buy option. This option lets you set up automatic buy/sell of cryptocurrency under the set parameters. A user will be rewarded $20 in BTC to his deposit account for each fourth and eighth trade. You can learn more about bonuses and programs here.

Coinbase: summary

7,5

Coinbase is an excellent platform for cryptocurrency newcomers, who are only starting their path in investment and trading. It has a simple UI. You can quickly learn how the exchange works. The really useful features include, for example, an educational program and the recurring buy option. One can say that Coinbase selects information and provides a choice of instruments that make cryptocurrency investing and trading simple and easy-to-understand. Initially, the creators of the exchange planned to make it for beginners, as more experienced traders are offered Coinbase Pro, where the fees are cheaper and users are offered a wider functionality. However, we believe that Coinbase is the simple and reliable option, although professional traders do claim they are missing some features.

Coinbase is regarded as a highly reliable exchange. Approximately 98-99% of user assets are held in cold storages. As of now, the exchange was hacked only once, but the funds were instantly returned to the clients (even before the investigations and other procedures, which is why the exchange gets the highest score of 10 for security even despite the hack). In addition, the funds of the exchange clients are insured.

We provided you with an honest and unbiased review of the exchange, and compared it with other platforms, but only you can decide whether Coinbase is a good fit for you or whether it is better to choose a different platform.

Reviews

4.1
12 reviews
@karoob
3 days ago
Has a wide range of trading pairs, excellent and reliable customer support. In my opinion, this is the most secure wallet for storing our crypto assets. It lets me store, trade and exchange my crypto within seconds. Unfortunately Coinbase is available to users mostly from western countries. This is a very big disadvantage.
Edi Ziar
3 days ago
Coinbase is by far the best crypto solution in my opinion. I had a great experience with them. As it turned out it was very easy to move crypto to fiat into my bank card. This is so helpful to find step-by-step answers in their ’tips and tutorials’ section. But I wish fee charges could be more clear.
Passant Thabet
7 days ago
I signed up and found Coinbase secure and very simple to use. The help documentation was well written and answered my questions about cryptocurrency. Love those ’’learn & earn’’ rewards, and many other ways to earn free money are awesome. Very easy to move crypto into fiat on my bank card. Way better than any wallet.
Dave_gonecrypto
9 days ago
The platform itself is simple and easy to use, the fees are quite competitive (I use it for hodl, not for trading). However, the lack of customer support can be frustrating, and recurring security issues just because you’re signing in from a different device or IP is even more frustrating. They’re doing a good job but could be much better.
bearableguy123
10 days ago
I wasted about 2 hours of my time trying to upload verification docs, even though my jpeg files were perfect. They rejected my ID 7 times, now they say I have to wait 24H. Such an absolute time wasting organization. Also, the bank card check took 15 minutes, going into an eternal loop on the captcha code. Dreadful experience.
Marek Bykowski
11 days ago
Absurd fees. The customer support is really and utterly useless. Every time I explained my problem to them via email, they responded with the same useless copy pasted answer. It’s been two weeks since the issue has not been resolved. Seems like the company is being run by nonprofessionals and the customer support is non-existent.
Maged Samy
12 days ago
They regularly make it complicated for you to access your account and make you overcome all kinds of technological obstacles via QR scans, email, phone, text messages and make it impossible for you to trade. Worst experience I’ve ever had online.
Julie Daley
12 days ago
Coinbase is my top favorite crypto platform. After years of use I’m still its fan. My bitcoins are secure with it. Withdrawals are instantly and smoothly done. No complaints.
s. krespo
17 days ago
Best crypto site in my opinion. Never once had any issues with coinbase, fast pay out, easy buy/sell crypto, also easy deposits. Any time I have had to contact them for any issue etc. they are on top off their job, no hassle, no unanswered calls. Spot on coinbase as always; keep up the great work guys!
Rebecca
18 days ago
Nice app but their customer service is terrible! It’s almost impossible to find someone who can speak decent English and they don’t seem to care about helping you. I bought a hardware wallet and when I try to transfer my btc from the exchange it insists that the address is invalid no matter how many times I enter it in different ways.
Lunarcrash
18 days ago
I started working with Coinbase in 2019. I’m still satisfied with this electronic payment system. The top level service. The commission is one of the lowest when compared with other services. This is very important, since your profit directly depends on this value. I recommend it.
O'Hobb
18 days ago
Advantages: Simple, intuitive user interface. Easy to deposit and withdraw funds. They made significant investment in security. Relatively no security issues compared to other exchanges. Disadvantages: It’s expensive. I prefer the Coinbase Pro version because of lower fees. They are slow to implement support for multiple coins.