Cryptocurrency has taken the investment world by storm. What was just a few years ago at the very heart of “nerddom” has now basks in the mainstream light: if you want to make serious cash quickly, cryptocurrency may be the way to go.
But a stark warning should always apply, a disclaimer for the unwary: this stuff fluctuates! We’re telling you – one day you may be up $5,000, the next, down $3,000. Since this currency has no referent but its own market spirit, there is no telling what it’s likely to do.
Cryptocurrency exchange platforms add a degree of stability to this turbulent and exciting virtual landscape. Not only do many of these services have a thriving community, but are loaded with educational modules to get you up to speed.
Coinbase is one of the most popular cryptocurrency exchange platforms in the United States. Though its original claim to fame was Bitcoin, Coinbase has broadened its offerings to include a wide range of cryptocurrency investing opportunities.
Founded in 2012 by Brian Armstrong, Coinbase lacks any physical headquarters, a real testament to its place in our modern, airy world. But since its inception, it’s been a leader in the field. And this is due to the way their Coinbase wallet works, and the sleekness of the app.
What is novel, especially at the time, is that Coinbase allows users to buy and sell coins through bank transfers. This makes the process almost seamless, and helped foster the popularity of this eccentric activity.
Coinbase is essentially like any sort of online brokerage; if you are familiar with robo-advisors or stock pick advisors, Coinbase will not be in the least confusing.
We believe the real reason to get into cryptocurrency is the fact that it is cool. Sure, traditional investments in stocks and bond are more secure; but there is no reason not to try your hand at cryptocurrency, especially in small, measured doses.
Modest Money’s review of Coinbase even goes so far as to say its “an essential platform for anyone involved in crypto”. With such glowing praise, and incredible traffic rates, trading volumes, and liquidity, Coinbase is the place to be for anyone new to this still growing movement.
Let’s take a look at some of its more prominent and important features.
Highlights of Coinbase
- 30+ Cryptocurrencies: this is the kind of variety that made the platform famous. Coinbase currently offers 32 different varieties of crypto, with an additional 4 when subscribing to Coinbase’s premium package, Coinbase Pro. Compare these numbers to brokerages like SoFi and Robinhood, and you’ll see why this platform is the cream of the crop when it comes to cryptocurrency.
- Multiple Trading Platforms: with two platforms to choose from, Coinbase and Coinbase Pro, subscribers are able to determine their level of involvement. Modest Money’s review recommends that every user consider upping their subscription to Coinbase Pro, as it offers advanced charting, and limit/stop orders.
- Coinbase Earn: we love this feature, especially for newbies. Coinbase earn is the educational facet of the platform, providing you with tutorial videos and instructive exams which pit your growing knowledge against real-world scenarios. By learning as your earning, you safeguard yourself against the moodiness of these coins. What’s more, users who complete the program earn up to $115 toward their crypto wallets.
Coinbase is Perfect, Right?
We wouldn’t go that far. While this is one of the highest-rated services, and sports one of the most storied heritages in the business, it does have its downside or two. You may want to consider these points before making the eventual leap.
- High Fees: compared to some of its competitors, Coinbase can be pricey. Let’s just consider a few things: there is a payment processing fee for all transactions from your Coinbase wallet, and that’s set at 1.49%. In addition, making payments with your credit card carries a rate of 3.99%.
- Wallet Keys: unfortunately, Coinbase does not offer the user control over wallet keys.
The Bottom Line – Is Coinbase Still the Best?
All in all, Coinbase is still probably the best option for those looking for a dedicated cryptocurrency platform. Sure, if you are a day trader using a service like SoFi, you already have the ability to deal in cryptocurrency. But Coinbase is so much more robust when it comes to trading cryptocurrency.
The sheer number of cryptocurrencies available through Coinbase alone make it a sure bet. And with the addition of their educational program Coinbase Earn, this platform appeals to the novice and seasoned veteran alike.
With the track record to prove it, and site traffic increasing daily, we see Coinbase as the crypto hub of the now and the future. Technology has never been so appealing – we literally have the world at our fingertips.
Get on the wild ride today – but don’t say you weren’t warned!