Coinbase Review 2022: Features, Fees, Pros & Cons

    Updated: Sep 18th, 2022
    Kevin Groves
    Kevin Groves
    Coinbase Review 2022: Features, Fees, Pros & Cons

    Coinbase is a household name in the industry that provides a beginner-friendly and highly accessible platform to get involved with Bitcoin and other coins. The exchange is best known for its easy-to-use platform and mobile app for individuals with all levels or experience to get involved with the cryptocurrency market. Coinbase offers a broad range of products and services such as a fiat gateway, crypto-to-crypto exchange, staking to earn rewards, educational videos and guides and an advanced trading platform called Coinbase Pro.

    In this review, we will assess Coinbase and compare it to the best exchanges for crypto to see how it really stacks up. Our methodology includes creating an account, completing ID verification, depositing fiat currency, purchasing crypto and withdrawing funds on the app to experience the basic features of the exchange. We will also examine important features including deposit method, supported currencies, fees, security and customer support.

    This post contains affiliate links with our partners who may compensate us. Read our disclaimer for more information.

    Coinbase Overview

    Coinbase is one of the most popular crypto exchanges in the world, serving over 90 million customers and available in over 200 countries around the globe. Constantly in the top 5 exchanges for trading volume, Coinbase is a favorite of both retail and institutional investors alike.

    Coinbase is a simple-to-use exchange aimed at beginners, offering a safe way to buy Bitcoin and nearly 200 other altcoins. Its mobile app is highly-rated with an intuitive design, making it easy for users to trade on the go. Coinbase charges higher fees than most other crypto exchanges, but recently launched the Advanced Trade platform that offers more competitive fees and advanced trading tools.

    To summarize our review, the key features and products of Coinbase are:

    • Most popular Bitcoin platform in the USA
    • Ranked #2 for traffic, trading volume and liquidity (behind Binance)
    • Available to users in 200+ countries worldwide
    • Wide variety of deposit and payments methods
    • Supports 200+ coins and major fiat currencies
    • Secure and stable online wallet to store funds
    Exchange NameCoinbase
    Accepted Fiat CurrencyUSD, GBP, EUR, CAD, SGD, NZD & AUD
    Supported CryptocurrencyBTC, ETH, SOL, USDC, and 200+ others
    Deposit MethodsBank account transfers, SEPA Payments, Wire transfers, Debit card, Faster Payments, 3D Secure Card, PayPal
    Trading Fees0.5% - 4.5%
    Withdrawal FeesNone (network fees only)
    Mobile AppYes (android and iOS)

    Coinbase Review - Quick Verdict

    Coinbase is a great crypto exchange for beginners. With built-in educational videos and tutorials, and simple-to-use mobile app, and an intuitive trading interface, Coinbase is ideal for those that want to get started and buy crypto easily and safely. Coinbase also offers a basic NFT marketplace, and a simple way to earn interest on a few coins as well, though both of these features are limited currently.

    Coinbase does charge higher fees than competitors, especially when purchasing crypto with a credit card. Trading fees can be high as well, though users can save a lot by opting to use the Coinbase Advanced Trade platform. Moreover, Coinbase is not the best platform for advanced traders, as even its advanced trading platform lacks the tools and features of more sophisticated trading platforms. Despite this limitation, Coinbase is still great for beginners and intermediate traders but experienced crypto traders that want more features and lower fees would be better served with a cheaper alternative to Coinbase.

    Visit the Coinbase website

    What Are the Pros and Cons?

    Coinbase is an ideal cryptocurrency platform for beginners that want to mirror and trade like professionals. The social trading community and CopyTrader feature is a game-changer that offers insight into the best traders on the platform. Aside from this, Coinbase is overall a top platform that is beginner-friendly, supports the most popular assets, and allows staking to earn passive income on crypto assets. For serious crypto traders that are looking for an advanced trading terminal, a variety of cryptocurrency trading pairs and products, Coinbase is not the best option.

    Coinbase Pros:
    • Easy-to-use platform ideal for beginners
    • Extremely simple and modern mobile app
    • Supports a wide range of fiat currencies and deposit methods
    • Available in 200+ countries and licenced in the United States
    • Built-in educational videos and news feed
    Coinbase Cons:
    • High fees (3% or more) for trading on the standard platform
    • Limited access to crypto derivatives and options trading
    • Advanced trading platform is limited compared to competitors
    • Not many ways to earn interest on idle crypto within Coinbase wallets
    • Customer service wait times are excessive

    Review of the Top Features & Products on Coinbase

    Coinbase User Interface & Trading Platform

    Coinbase has been designed for beginners to get started with digital coins such as Bitcoin, Ethereum and Cardano. The dashboard is presented in a way that is easy to use, elegant and simple. The navigation bar on the left provides quick links to the main features and options The home page can be customized to show favorite coins on a watchlist to monitor the prices quickly.

    Coinbase dashboardCoinbase dashboard

    A basic price chart shows the value of the asset which is represented as a line graph and the duration can be changed between daily, weekly, monthly and yearly time frames. There is no complicated charting system, order books, trade history and volume profiles that an advanced cryptocurrency trading exchange would normally show.

    Users can click on the asset to view a larger chart with price information such as the overall market cap, recent trading volume in the previous 24-hour period, the circulating supply, its popularity among other investors on Coinbase and the estimated hold time. A great feature is the sentiment graph which shows the trading activity of other users on the exchange. This is similar to viewing the crypto fear and greed index to visualize the sentiment of investors within the market.

    Coinbase bitcoin price chart and sentiment graphCoinbase bitcoin price chart and sentiment graph

    This information can be useful for beginners to see whether other traders are adding to their buy or sell positions in the last 24 hours. Also, the sentiment value can provide insight for advanced traders to counter-trend trade when the market participants have overbought the market (i.e. FOMO).

    Adjacent to the price chart, the order entry window has two options to buy and sell for the selected coin. Users can select the frequency of the transaction which can either be a one of purchase (or sell) or recurring order. Periodic buy orders are a great way for beginners to begin with a small amount and build a position over time while removing the stress of looking at the price every day.

    Users can enter in the amount of fiat currency to spend, review the order and proceed to place a buy/sell order with the connected bank account, debit card or other payment type linked to the account. Combined with its easy-to-use navigation, ability to add a payment method directly, select and purchase crypto and track its performance, Coinbase has one of the best apps for crypto beginners.

    Coinbase Advanced Trade

    Coinbase recently announced that Coinbase Pro is shutting down, and it has integrated the advanced trading features into the standard Coinbase platform. Known as “Advanced Trade,” users can access advanced charting, multiple order types, and access to hundreds of trading pairs.

    The platform also offers live order books, watch lists, and advanced candlestick charting with some basic overlays and technical indicators, but not as many as TradingView charts. The order forms offer more flexibility than the standard Coinbase forms, including limit and stop-loss orders. The trading tools give traders what they need to place trades, but not too much more.

    Coinbase advanced trade user interfaceCoinbase advanced trade user interface

    Coinbase Advanced trade is ideal for intermediate and advanced crypto traders who want a clean interface and access to some advanced trading tools, but professionals may find it lacking.

    Trading Volume & Liquidity

    In terms of trading volume and liquidity, Coinbase is one of the largest exchanges in the world for spot trading volume processing over $2 billion in daily trading volume. At the time of writing, Coinbase has an average liquidity score of 785 (out of 1,000), which means that users can place large orders and avoid excess slippage. This makes Coinbase a solid choice for traders, investors, and institutional clients as well.

    Related: The best crypto day trading platforms.

    Coinbase liquidity and trading volumeCoinbase liquidity and trading volume

    Coinbase Learn

    Users can earn free cryptocurrency by learning about blockchain projects offered on the platform. It is a fun and easy way for beginners to earn money for free by getting involved in the space and educating themselves about trading cryptocurrency and digital assets such as SAND, GAL, AMP, GRT, and others.

    Learning rewards on CoinbaseLearning rewards on Coinbase

    The way it works is that users can watch short video clips (similar to a TikTok video) that teach them how a certain cryptocurrency works. After watching the short clips, users will be asked to take a quiz. After passing the quiz, Coinbase will deposit a few dollars of that asset into their Coinbase account. These funds can be traded or withdrawn to the user’s own wallet.

    Coinbase Earn

    A major benefit of buying crypto on Coinbase is the ability to earn staking rewards by depositing crypto to earn up to 5% APY. Staking coins can be difficult for beginners to do on their own which makes this feature is particularly beneficial for new investors that want to earn rewards on crypto. Coinbase supports a number of Proof-of-Stake (POS) coins such as Tezos, Algorand, Cosmos, DAI and US Coin.

    The downside with staking on Coinbase is the 25% service fee that is subtracted from the earned staking reward. This fee is to cover the expenses incurred for providing the service and is quite expensive compared to reputable cryptocurrency staking platforms.

    Coinbase Earn interest productsCoinbase Earn interest products

    Coinbase Wallet

    Coinbase offers a fully-functional digital wallet that supports a variety of cryptocurrencies. As a hot wallet, the Coinbase wallet can be used to store, transfer, and trade crypto, as well as connect to hundreds of different decentralized apps (DApps). The Coinbase Wallet supports many different blockchains, including Bitcoin, Ethereum, Solana, Polygon and Avalanche. It also supports Ethereum and Polygon NFT collections.

    The Coinbase Wallet is free to download on both iOS and Android mobile devices, and can also be used as a web browser extension (such as Google Chrome).

    Coinbase Card

    Coinbase offers a VISA-backed debit card that allows users to spend their crypto balances. The card is connected with a user’s Coinbase account, and when purchases are made, Coinbase will automatically convert the crypto into cash in the background to pay for the purchase.

    The Coinbase card also offers cash back rewards in the form of crypto, and user’s can select which crypto they wish to earn. There are no spending fees or monthly maintenance fees for the card, but there is a spread fee when converting crypto to cash when using the card. ATM withdrawals are free but have a $1,000 daily limit. Apps such as CashApp, Paypal, and Venmo are not allowed to be used with Coinbase Card at this time. Although, when compared to the best debit cards for crypto, it's a great card for beginners but doesn't offer as many perks.

    Coinbase NFTs

    Coinbase recently launched an NFT platform, offering 0% fees for buyers and sellers (except gas fees), as well as the ability to use the platform without the need to create an account. Users can simply connect a popular Ethereum digital wallet such as Ledger, Metamask or Exodus and begin buying and selling.

    The NFT marketplace is quite small and limited in features as of now. Users can only trade Ethereum (ERC721) NFTs, and the only currency that can be used is ETH for now. Creators also cannot mint NFTs yet but are allowed to list and sell NFTs. There are no trading fees (yet), but users will need to pay gas fees for buying and selling. The NFT selection is fairly limited at this point, but there are some popular ones available, such as Bored Ape Yacht Club.

    Coinbase NFT marketplaceCoinbase NFT marketplace

    Coinbase Compared

    Cutting-edge security measures, an intuitive user interface for beginners and a mobile trading app are important features on Coinbase. This comparison table lists alternate crypto trading platforms like Coinbase that allow investors to invest in digital assets such as cryptocurrencies.

    ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview


    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    StarStarStarStarEmpty Star
    Up to $100 welcome bonusVisit BinanceBinance Review
    Coinbase Logo


    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    StarStarStarStarEmpty Star
    $5 BTC bonus (USA only)Visit CoinbaseCoinbase Review


    3190.02% / 0.07%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    StarStarStarStarEmpty Star
    5% off trading feesVisit FTXFTX Review


    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    StarStarStarStarEmpty Star
    None available at this timeVisit eToro

    eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."

    eToro Review

    Supported Countries

    Coinbase offers its financial services and cryptocurrency products to 200+ countries globally including North America, South America, Europe, Asia, Australia, New Zealand and South Africa. Citizens from all over the world can use the exchange and broker to buy, trade, store, earn and sell cryptocurrencies. The list of supported countries can be found on Coinbase's country page. For more information on the legality of crypto in regions, read our article on the countries where trading cryptocurrency is legal.

    Is Coinbase Safe?

    Coinbase is one of the safest places to buy and store digital assets using their online wallet. The exchange features 'bank-like' security measures to ensure customer funds and personal information are kept safe at all times. Based on our research, there have been no reported hacks or compromises of the security systems and web wallets resulting in any loss of funds due to criminal activity. The security measures include:

    • 98% cold storage of all customer funds
    • Bitcoin is located in safe deposit boxes and vaults around the world
    • Two Factor Authentication (2FA) on all accounts
    • Wallets and Bitcoin private keys are stored using AES-256 encryption.
    • Strong security culture and organization processes

    Coinbase also carries theft insurance that covers the crypto funds stored in cold wallets and will pay out to cover the cost of lost funds should a compromise or breach of the security systems was to occur.

    Creating an Account with Coinbase

    To buy, sell, send and receive cryptocurrency using Coinbase, users will need to verify their identity and add a bank account using the desktop website or mobile app. Customers must be at least 18 years or older. There are no fees to create or maintain a Coinbase account or wallet. Users will be prompted to complete identity verification before being able to deposit funds and begin trading.

    creating an account with coinbasecreating an account with coinbase

    ID Verification Requirements

    Coinbase verification is mandatory for all users that want to trade on the platform. The process and information to be submitted vary slightly across each jurisdiction in accordance with local regulations. Verification should be complete within 24 hours based on our experience but can take longer. To pass identity verification, users must provide personal details directly to Coinbase. Here are the details required for verification:

    • A valid email address
    • Mobile phone number
    • Personal details (name, birthday, etc.)
    • Government or state-issued ID (driver’s license, passport or passport card)
    • Selfie picture

    Once these documents are submitted, Coinbase will verify the documentation to approve the account (typically within a day). To find out exactly how long to verify a Coinbase account, read this article. Once verified, users can link a payment method, deposit cash (or crypto), and begin trading.

    Payment Methods

    Coinbase supports several fiat currencies such as USD, GBP, EUR, CAD, SGD, NZD & AUD. The conversion fee is based on percentage points (or pips). There is no fee to send USD to fund a real money trading account.

    Coinbase supports several payment options for its customers located worldwide. The most popular method for buying cryptocurrency is using a debit card or bank transfer. The options to deposit, withdraw, buy and sell do vary for each supported country. The deposit options include:

    • Bank account transfers
    • SEPA Payments
    • Wire transfers
    • Debit card
    • Faster Payments
    • 3D Secure Card
    • PayPal

    For large investments, using a bank or wire transfer is the best way to buy cryptocurrencies which can take between 1 to 3 days to process depending on the bank. Users that are looking to make a smaller and instant purchase and prefer convenience can use a bank card. The average speeds of each payment option are an important consideration and are listed below.

    PaymentMax. DepositSpeed
    Bank account (ACH)$25,000/day4-5 business days
    Instant Cashout$100,0001-3 business days
    Wire transferNo Limit1-3 business days
    SEPA transferNo Limit1-3 business days
    Debit card$7,500/weekInstant
    3D Secure Card$7,500/weekInstant
    Google/Apple Pay$7,500/weekInstant

    Supported Countries

    Coinbase offers its financial services and cryptocurrency products to 100+ countries globally including North America, South America, Europe, Asia, Australia, New Zealand and South Africa. Citizens from all over the world can use the exchange and broker to buy, trade, store, earn and sell cryptocurrencies. The list of supported countries can be found on Coinbase's country page. For more information on the legality of crypto in regions, read our article on the countries where trading cryptocurrency is legal.

    coinbase supported countriescoinbase supported countries

    Available Fiat & Cryptocurrency Assets

    Coinbase allows users on the platform to buy & sell digital assets by supporting seven fiat currencies such as USD, GBP, EUR, CAD, SGD, NZD & AUD Traditional currencies can be deposited into the exchange using a variety of payment methods for each country.

    Once the funds have arrived in the Coinbase wallet, users can view the live prices of the cryptocurrency assets before purchasing. The exchange supports 250+ cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin and popular DeFi tokens like Yearn Finance. The exchange regularly adds new crypto assets to its trading platform which are announced via the social media channels of the Coinbase blog.

    coinbase supported coinscoinbase supported coins

    User's should be aware that the order book trading volume can vary across each country which can result in higher spread charges for low liquidity trading pairs. For a full list of cryptocurrencies and tokens supported by Coinbase, visit the website.

    Coinbase Mobile App

    Coinbase offers one of the best-designed crypto apps for Android and iOS devices. Similar to the website app, the Coinbase mobile app offers streamlined functionality for everyday investors to buy and sell crypto with ease.

    Based on 720,000 customer reviews and over 10 Million downloads at the time of writing, the Coinbase Android app has a very good rating of 4.1/5.0, which indicates its high reliability and reputation. We found the app to be simple, elegant even, and very responsive, which is ideal for beginners.

    Coinbase app screenshotsCoinbase app screenshots

    Coinbase Fees

    Coinbase fees are complicated to understand as it depends on the user's location, trading product and payment type. Generally, the fees range between 0.5% and 4.5% for individuals that use the platform to buy, trade and sell cryptocurrencies. There is no cost for using the Coinbase wallet service to store fiat and cryptocurrency coins.

    Trading Fees

    There are two (2) types of trading fees that will be applied to a cryptocurrency purchase a flat fee between $0.99 and $2.99 or a variable percentage on the total amount, whichever is greater. The percentage-based fee depends on the user's location and payment type. The variable percentage fee for US payment types are as follows:

    • US Bank account - 1.49%
    • Coinbase USD wallet - 1.49%
    • Debit card - 3.99%

    For example, a trader in the United States who purchases $1,000 of Bitcoin using a US bank account or Coinbase USD wallet will incur a variable percentage fee of 1.49% of the total transaction. This would equate to $14.90, which is higher than the flat fee amount of $2.99. If a debit card was used for the cryptocurrency purchase, the fee would be 3.99%.

    Less than $10$0.99
    Between $10 and $25$1.49
    Between $25 and $50$1.99
    Between $500 and $200$2.99

    Coinbase Advanced Trade utilizes a Maker-Taker fee schedule based on 30-day trading volume, which offers much lower fees (but not debit card purchases allowed):

    Pricing TierTaker FeeMaker Fee
    $0 - 10K0.60%0.40%
    $10K - 50K0.40%0.25%
    $50K - 100K0.25%0.15%
    $100K - 1M0.20%0.10%
    $1M - 20M0.18%0.08%
    $20M - 100M0.15%0.05%

    Overall, the trading fees on Coinbase are higher compared to other cryptocurrency brokerages and are one of the main drawbacks of the platform. Lower trading platform alternatives such as Binance, Gemini, eToro and CoinZoom offer lower pricing to purchase crypto assets for US-based investors. For a list of country-specific payment charges such as Australia, Europe and the UK, visit the Coinbase pricing page. For a comparison of the fees on Coinbase vs Binance, read this article.

    Spread Fees

    All cryptocurrency trades incur a spread charge of 0.5%, which can vary on market fluctuations and the difference between the exchange quoted prices and when the transaction is completed. The spread fee is reasonable compared to platforms such as eToro and Uphold which range from 0.75% to 1.8% for Bitcoin and Ethereum, however, these platforms do not charge a trading fee.

    Deposit Fees

    Using a bank account (ACH transfer) for US investors does not incur a deposit charge. Similarly, it is free to deposit money into Coinbase via SEPA or Faster Payments for residents living in the United Kingdom. International customers can use a wire transfer USD which will incur a small deposit fee of $10.

    USAACH Transfer3-5 work daysUSDFree
    USAWire Transfer3-5 work daysUSD$10
    USADebit CardInstantUSD3.99%
    CanadaDebit CardInstantCAD3.99%
    AustraliaDebit CardInstantAUD3.99%
    New ZealandDebit CardInstantNZD3.99%
    UKDebit CardInstantGBP3.99%
    UKFaster Payments1 work dayGBPFree
    EuropeSEPA2-3 work daysEURFree

    Withdrawal Fees

    There is a small cost between $0.55 and $25 for withdrawals from a Coinbase wallet for US users. Other rates apply depending on the withdrawal method and country. Withdrawals can take between 1 to 5 days to complete depending on the method as shown in the table below. The fastest way to withdraw funds from Coinbase is PayPal which is instant for users in the US, Europe, UK and Canada.

    USAACH Transfer1-5 work daysUSDFree
    USAWire Transfer1 work day USD$10
    UKSEPA1 dayGBP€0.15
    UKFaster Payments1 work dayGBPFree
    EuropeSEPA1-2 work daysEUR€0.15
    EuropeInstant Card1-2 work daysEUR2%
    US, Europe, UK, CAPayPalInstantUSD, EU GBP, CADVaries

    Like other cryptocurrency exchanges, there is a miner's fee for cryptocurrency withdraws to other platforms or hardware wallets. The fee is determined by the blockchain network load at the time of the withdrawal which also determines the speed to transfer crypto from Coinbase to Metamask or other wallets.

    Customer Support

    Coinbase has been improving its customer support, recently adding phone support for compromised accounts, and also 24/7 live chat support for general inquiries available to customers. This is a much-needed improvement and makes Coinbase a more user-friendly platform for resolving issues.

    Coinbase also offers a ticketing system. Users can choose the product or service and select a topic related to the issue such as:

    • Account compromised or unauthorized use
    • Login, authentication or verification issues
    • Account management
    • Taxes, reports, and financial services
    • Trading and funding

    Issues are tracked to resolution, and users can reference the ticket number to get faster results when emailing customer service. Moreover, the live chat team was responsive when we asked them a few questions, though some of the responses were not very helpful, which means the team may need a bit more training and experience to be the most helpful.

    coinbase customer supportcoinbase customer support

    Frequently Asked Questions

    Coinbase fees range between 0.5% to 4.5% depending on the market conditions, location and payment method. In comparison to other platforms to buy Bitcoin, the transaction costs are a little high but offers ease of use and convenience with its variety of accepted fiat currencies, supported countries and wide range of deposit methods.

    Alternate cryptocurrency brokers and traders platforms like Coinbase that US investors can consider are Gemini, Binance and eToro. These platforms have comparable trading fees, features, deposit methods and are reputable Bitcoin exchanges in the United States. For those looking for a cheaper place than Coinbase, read our article on the best Coinbase alternatives for more options.

    Coinbase doesn’t charge any fees for the use of its wallet. However, traders should consider network fees, which miners charge for processing transactions. While these charges are usually negligible, there are instances when network fees increase, especially during periods of network congestion. With many transactions awaiting confirmation, fees will increase over time in line with the law of demand and supply. Lower transaction fees usually mean longer transaction completion times. So traders looking to confirm their transactions as quickly as possible would have to pay higher network fees.

    Kraken is a popular crypto trading platform in the USA that offers a wide range of digital currencies to buy, trade and sell. The user interface is more suited to traders and can be a little confusing at first for beginners. On the other hand, Coinbase has been designed for new investors and provide a simple to use platform. High net worth individuals will benefit from the lower trading fees on Kraken which can add up over time.

    Coinbase is a supported cryptocurrency exchange in Australia. Local residents can create an account with Coinbase and buy crypto in AUD using a debit card. Debit card purchases have a fee of 3.99% in addition to the trading fee of 0.5%. There is currently no option to withdraw funds back to AUD using Coinbase which is a major disadvantage.


    To conclude this Coinbase review, the trading platform is one of the easiest places to buy, sell, and manage a cryptocurrency portfolio effortlessly using the online web version or mobile app. Beginners that are not sure which exchange to use to invest in digital currencies such as Bitcoin have the option to use a reputable and safe brokerage such as Coinbase.

    Available in over 200 countries worldwide and with a variety of payment methods to fund an account, Coinbase is a top choice for Bitcoin enthusiasts and traders. The only negative point is the trading fees, which are a little higher than other exchanges.

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    Kevin GrovesKevin GrovesKevin Groves

    Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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