Pros and Cons of Coinbase
Coinbase is one of the largest cryptocurrency exchanges in the world, with more than 43 million verified users in over 100 countries, and more than $90 billion in Coinbase user accounts. Read our full Coinbase review to find out whether Coinbase is the right cryptocurrency exchange for you.
This cryptocurrency exchange is a good fit for: investors and traders of all skill levels who want a solid all-around platform for buying, storing, and selling cryptocurrencies.
- Cryptocurrency selection
- Low minimums
- Top-rated mobile app
- Advanced trading platform
- Offers free cryptocurrency for learning about new digital tokens
- Offers Coinbase debit card to spend cryptocurrency anywhere Visa is accepted
- Fee structure is difficult to understand
- Fees are expensive for smaller purchases
There are 43 cryptocurrencies available for trading on Coinbase, ranging from Bitcoin and other major coins to some smaller and newer digital tokens. This is one of the widest selections among the best cryptocurrency exchanges.
Although Bitcoin’s price is hovering around $50,000 as of this writing, Coinbase allows customers to buy as little as $25 worth of the digital currency. There is also an easy way to set up recurring buys if you want to invest gradually over time.
Coinbase has a user friendly and highly functional mobile app that allows users to buy, sell, and manage their cryptocurrencies wherever they are. It has a rating of 4.7 out of 5 stars on the Apple App Store and 4.4 out of 5 on the Google Play Store.
Advanced trading platform
For most people who want to buy, sell, and spend cryptocurrency, Coinbase’s standard desktop portal is sufficient. But for active traders, the company offers the Coinbase Pro desktop trading platform. On that platform, customers can view real-time order books, use charting tools, and quickly place their own orders.
Earn while you learn
Coinbase offers customers the ability to earn free cryptocurrencies for learning about newer digital assets. For example, for agreeing to learn about Numeraire (NMR), customers earn as much as $3 of the cryptocurrency’s tokens. To get the free crypto, customers watch videos on different cryptocurrencies and complete quizzes, and there are dozens of these offers on Coinbase’s platform with values of as much as $10 each.
In addition to the “earn while you learn” component, Coinbase maintains an impressive library of educational resources. Want an easy-to-follow but thorough introduction to Bitcoin? A guide to the tax implications of cryptocurrency investing? Coinbase has you covered on these topics and many more.
Easy to send money
Coinbase allows users to send cryptocurrency to other Coinbase users by simply using their Coinbase Wallet username.
Debit card access
The Coinbase Card is a Visa-branded debit card linked to Coinbase users’ balances. It provides a way to instantly spend cryptocurrencies at any merchant that accepts Visa worldwide.
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