Cryptocurrency has been a worldwide phenomenon, especially in the last few months. It has significantly grown in popularity and is proving to be one of the most popular forms of investment. So, if you’re looking to invest your money in cryptocurrency, one of the leading cryptocurrency exchanges right now is Coinbase. In this Coinbase review, we will be looking at all of the ins and outs of the exchange as well as its pros and cons.
Coinbase has long been seen as a leading cryptocurrency exchange and it has become synonymous with the rapid growth of cryptocurrency as an investment asset. Featuring extremely high traffic rates, trading volumes, and liquidity, it is proving to be the best platform around right now for trading cryptocurrency. Coinbase also provides custodial accounts for institutions, payment services, and has unveiled its own stablecoin, known as the USD Coin, as well as brokerage services.
Coinbase was one of the original pioneers of cryptocurrency trading and it was founded in 2012. It operated as a basic crypto exchange for almost ten years and it has since expanded to offer more than 30 different cryptocurrencies as well as providing services. With a plethora of services on offer as well as the ability to store tokens, this is one of the number one platforms in which to buy and sell cryptocurrencies, including Bitcoin.
The Coinbase features
At heart, Coinbase is essentially a brokerage, however, investors who are new to cryptocurrency may need a fair bit of additional help to protect their investments. Here are some of the core features that every investor using Coinbase must know about before pursuing their investing journey. Let’s get into it!
Coinbase Earn
Many new Coinbase users are also new to cryptocurrency, so the platform provides something called an earn while you learn program that has proven helpful time and time again. Coinbase Earn enables you to view a large collection of video classes and take exams as a way to educate yourself on 12 of the major cryptocurrencies that are offered via the platform. Newbies who successfully complete the whole Coinbase Earn program can easily claim more than $115 in free cryptocurrency.
Two Trading Platforms
Coinbase is only available to U.S. customers in every single state other than Hawaii and there are two different trading platforms to take advantage of. These are the original Coinbase platform and the newer platform Coinbase Pro. Coinbase Pro, which used to exist under the GDAX brand name, offers advanced charting, limit, and stop order.
Regular traders are strongly advised to subtribe to Coinbase Pro and it is an elite option.
30+ Cryptocurrencies
Coinbase cryptocurrencies currently number around 32. U.S. customers can trade with an additional four cryptocurrencies if they subscribe to Coinbase Pro. This is a much larger number than competitor platforms such as eToro, SoFi Invest, and Robinhood. You can read the SoFi Invest review here and form your opinion. Overall, Coinbase and Coinbase Pro provide far more for cryptocurrency investors.
The pros and cons of Coinbase
Coinbase is truly one of the leading cryptocurrency exchange platforms in the U.S. and it has become synonymous with Bitcoin. However, it has expanded greatly to include a large amount of cryptocurrency investing opportunities. It now owns its own stablecoin and powers custodial accounts to further accentuate the fact that it is an advanced trading platform.
It is an essential platform for absolutely everyone looking to become involved with cryptocurrency. Let’s take a look into the pros and cons of Coinbase to gain an understanding of the platform as a whole. This way, you will be able to make an informed decision.
Pros
- There is a large variety of coins available
- Simple interface for ease of use
- High liquidity
Cons
- High fees
- You have no control over wallet keys
Is Coinbase right for you?
There is no doubting that Coinbase is the ultimate and ideal cryptocurrency exchange for absolutely anyone, which is easy to agree on. Coinbase has even become recently a publicly-traded company which means that it has hit the mainstream and therefore has to work much harder than ever before to protect customers as well as their money. The fees can, at times, be fairly high, however, these fees can be avoided by signing up for Coinbase Pro and selecting all of the right payment methods.
The fact that they work to educate their users through Coinbase Earn is another big plus for this trading platform and it means they genuinely care about their users’ experience and knowledge. A lot of platforms simply don’t offer this. If cryptocurrency investing is of interest to you, this is one platform that you just can’t afford to ignore for your future.
Create an account with Coinbase here and get $5 in free bitcoin to use. Also, check out the My Points review if this one was helpful!
