Coinbase

coinbase exchange review

Coinbase Exchange Review

Coinbase is one of the world largest Bitcoin broker and currently available to users in 32 countries as of 2018. Customers can buy bitcoin via connected bank account, Interac Online,SEPA transfer , and many more other payment methods.

PROS


  • High liquidity and buying limits
  • Beginner friendly for new entry bitcoin buyers
  • Instant buy available with credit card

CONS


  • Slightly limited payment methods available now
  • Was known for tracking users on Bitcoin transaction , thus anonymity is an issue

How does Coinbase work?

Coinbase had a more simpler and beginner friendly interface which mainly aimed for better first time user’s experience.

As similar with other Coin broker/marketplaces , Coinbase’s transaction mainly using credit/debit card and bank transfers.

Payment Methods and fees

Coinbase covers up to 32 countries, however within Asia region , only Singapore is covered with Insta-buy function enabled. Depending on payment methods, the fee varies accordingly to respective banks and countries. Below are the few examples

USA


  • Bank Transfer : 1.49% extra fees and transaction take up to 1 week.
  • Credit/Debit Card : 3.99% extra fees and instant transaction

Canada


  • Credit card : 3.99% extra fee and instant transaction

Europe


  • SEPA Transfer : 1.49% extra fees and transaction take up to 3 days.
  • Credit/Debit Card : 3.99% extra fees and instant transaction

United Kingdom


  • Credit/Debit Card : 3.99% extra fees and instant transaction

Singapore


  • Xfer Transfer : 1.49% extra fees and instant transaction

Australia


Credit/Debit Card : 3.99% extra fees and instant transaction

The extra fee is charged upon per purchase while deposit does not impose and extra charges.

Privacy

Users are required to provide sufficient personal information upon registration and making purchases. One of the few required documents are such as below

  • Driver license
  • Passport/Identification card depending on country
  • Picture of user holding their credit/debit card

Reputation

Every trader will always have the same question and thoughts whether is the broker safe.

Coinbase is stationed in San Francisco and backed up by several financial institutions including banks and New York Stock Exchange. Thus quoted as on of the world largest Bitcoin broker that offers exchange , wallet and developer API services and function.

Customer Support

Coinbase maintained as one of the largest coin broker with proper services provided such as customer support.

Coinbase has a knowledge base which provides commonly asked information and an email support team for attending further inquiries and issues.

Their support and FAQ section can be found here

Past conflict and issues

Coinbase was reported to be tracking its user’s transaction history including personal transactions. This issue causes its users to question the perk of anonymity using cryptocurrency.

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