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A crypto exchange that has stood out over the years is Coinbase. It boasts a streamlined interface, and a variety of features such as Earn, staking, and an advanced trading platform. In this Coinbase review, we’ll be taking a close look at the features, fees, and security offered by Coinbase to determine whether it is suitable for everyone.
Coinbase is a reputable and US-regulated crypto exchange suitable for beginners. With built-in educational videos and tutorials, a streamlined mobile app, and an intuitive trading interface, Coinbase is ideal for those who want to get started and buy crypto quickly and safely.
Coinbase also offers a simple NFT marketplace and a simple way to earn interest on a few coins, though both of these features are currently limited. However, Coinbase does have slightly higher fees than its competitors. As such, experienced crypto traders who want more features and lower fees would be better served with a cheaper alternative to Coinbase.
- Good range of features
- Extensive support options
- Trading fees higher than average
- Lacks advanced trading tools
- Streamlined - Coinbase has focused its efforts on being easy to use to suit new customers. While some leading cryptocurrency exchanges make things needlessly complex, the simplicity offered by Coinbase is likely to appeal to those who are new to the platform.
- Good range of features - It’s common for an exchange to offer one or two features on top of the standard. On the other hand, Coinbase packs in much more. With a debit card, an NFT marketplace, an advanced trading platform, and a host of educational resources, Coinbase is great for investors looking for an all-in-one platform to start off with.
- Extensive support options - Coinbase offers live chat, a ticketing system, and phone support, making it one of the most accessible platforms in the industry. Furthermore, having a range of support options ensures that nobody will be left waiting days for an answer.
- Trading fees - High trading fees are the bane of many investors. While Coinbase users a tired system, the majority of users will fall into the first bracket (under $10k volume), meaning they’ll be subject to a 0.6% to 0.4% fee for trading.
- Lacks advanced trading tools - While Coinbase has unveiled its advanced trade platform, it still lacks the range of tools and customizability offered by platforms like Binance and ByBit that are integrated with TradingView. Traders looking for a crypto platform to engage with advanced trading strategies and charting tools will need to look elsewhere.
Coinbase At A Glance
|Features||Advanced Trading Platform, Coinbase Wallet, Coinbase Earn, Coinbase Learn, Coinbase Card, NFT Marketplace|
|Accepted Fiat Currency||USD, EUR, GBP, CAD, SGD, NZD, AUD|
|Deposit Methods||Debit/Credit Cards, e-Wallet, Bank Transfer|
|Supported Cryptocurrencies||BTC, ETH + 241 Others|
|Number of Trading Pairs||548|
|Customer Support||Help Center, Live Chat, Live Phone|
|Security Measures||Strict Listing Process, 2FA, cold wallet storage, Insurance|
|Mobile App||Yes (android and iOS)|
Founded in 2012, 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 regulated in several jurisdictions, including the US, UK (FCA), and Europe (CBI). The exchange is a aimed at people who are new to crypto, offering a safe way to buy Bitcoin and more than 200 other altcoins. Its mobile app is highly rated with an intuitive design, making it an option for users to trade on the go.
Review of the Top Features & Products on Coinbase
Coinbase Advanced Trade
Coinbase recently announced that Coinbase Pro is shutting down and is integrating the advanced pro trading features into the standard Coinbase platform. Now known as "Advanced Trade," users can access charting tools, multiple order types, and hundreds of new trading pairs.
The platform also offers live order books, watch lists and advanced candlestick charting with some basic overlays and technical indicators, but fewer than TradingView's charts. The Coinbase Advanced Trade platform enables users to dial in their trades in much more detail than the standard Coinbase platform offers. However, while the offered tools provide additional flexibility, they're still limited compared to dedicated trading platforms like Binance, Kraken and ByBit.
Coinbase has an integrated digital wallet that supports different types of digital currencies. As a "hot wallet," Coinbase wallet can be used to store, transfer, and trade cryptocurrencies. It provides access to hundreds of different decentralized apps (DApps) and can be integrated with other external wallets. This makes it simple for users to store their first cryptocurrency purchase without having to worry about managing their own wallets and private keys.
The Coinbase Wallet is generally safe to use and is free to download on both iOS and Android mobile devices. It can also be installed as a web browser extension (such as Google Chrome). Overall, Coinbase's wallet is a great feature for first-time investors.
A major benefit of buying crypto on Coinbase is the ability to earn staking rewards by depositing crypto to earn up to 5% APY. Coinbase supports a number of Proof-of-Stake (POS) coins such as Tezos, Algorand, Cosmos, DAI and US Coin.
The con 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 we have reviewed.
Coinbase offers a VISA-backed debit card that allows users to spend their crypto balances. A user can connect a card to their account, and then Coinbase will automatically convert the crypto to fiat in the background to pay for the purchase.
The Coinbase card also offers cash-back rewards in the form of crypto, with users able to 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 prohibited from use with the Coinbase Card at this time. Although compared to the best debit cards for crypto, it’s a great card for users but doesn’t offer many additional perks.
Coinbase NFT marketplace
Coinbase recently launched an NFT platform, offering 0% fees (except gas fees) and the ability to use the platform without creating an account. Instead, users can connect a popular Ethereum digital wallet such as Ledger, Metamask, or Exodus and begin buying and selling.
The NFT marketplace is relatively small and lacks features as of now. Users can only trade Ethereum (ERC721) NFTs, and the only currency usable is ETH. Creators cannot mint NFTs yet but are allowed to list and sell NFTs. While NFTs have gotten some flack in recent months, they remain a valuable asset class many investors love.
Users can earn free cryptocurrency by learning about blockchain projects offered on the platform. It is a fun way for customers to make money for free by getting involved in the space and educating themselves about trading cryptocurrency and digital assets such as NEAR, AMP, GRT, and others.
The way it works is that users can watch short video clips (similar to a TikTok video) that teach them how a particular cryptocurrency works. After watching the short clips, users take a quick quiz. After passing the quiz, Coinbase will deposit a few dollars of the relevant asset into the user’s Coinbase account. These funds can be traded or withdrawn to the user’s wallet.
Incentivizing users to engage with educational resources is an excellent way to create better-informed investors.
Coinbase Compared and Alternatives
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|222||0.16% (maker) and 0.26% (taker)|
|None available at this time||Visit Kraken||Kraken Review|
|None available at this time||Visit eToro|
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
If Coinbase doesn't stack up for you, the team at HedgewithCrypto has compiled a list of Coinbase alternatives in these exchange comparisons.
- Coinbase vs Binance
- Coinbase vs ByBit
- Coinbase vs KuCoin
- Coinbase vs Crypto.com
- Coinbase vs CoinSpot
- Coinbase vs Swyftx
Creating & Verifying A Coinbase Account
The Coinbase sign-up process is straightforward. While users are only initially required to enter a first/last name, email, and password when registering, verification is a requirement to gain access to the Coinbase platform.
Users are required to enter personal details like date of birth, address, and phone number. Then, to verify the Coinbase account, the user must provide a photo ID (passport, driving license). How long it takes for Coinbase verification varies, it’s typically completed within a few minutes.
Supported Fiat and Deposit Methods
Cryptocurrency traders can deposit to Coinbase using a variety of fiat currencies, including 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 (SEPA, Faster Payments, etc.). However, Coinbase also lets users deposit funds with debit/credit cards and 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 who are looking to make a smaller and instant purchase and prefer convenience can use a bank card.
Supported Crypto & Trading Pairs
Coinbase offers support for 243 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and other popular DeFi tokens like Yearn Finance. In addition, the exchange regularly adds new crypto assets to its trading platform, which are announced via the social media channels of the Coinbase blog.
Of the assets available to trade on Coinbase, most have a couple of trading pairs denominated primarily in USD, EUR, and GBP. In total, there are 548 trading pairs available to users. However, the majority are only accessible using the ‘Advanced Trade’ platform. Users 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.
Coinbase and Coinbase Pro previously had different fee structures, with the Pro platform being far cheaper. However, the trading platform has since simplified things, with all users charged according to the same maker/taker structure. The fees charged by Coinbase start from 0.6% and 0.4% respectively and vary based on the 30-day trading volume.
|30-Day Volume||Trading Fee (Maker / Taker)|
|$0 - 10K||0.60% / 0.40%|
|$10K - $50K||0.40% / 0.25%|
|$50K - $100K||0.25% / 0.15%|
|$100K - $1M||0.20% / 0.10%|
|$1M - $15M||0.18% / 0.08%|
|$15M - $75M||0.16% / 0.06%|
Deposit and Withdrawal Fees
Having reasonable deposit/withdrawal fees is crucial to the success of an exchange. Coinbase understands this well and charges minimal fees for these services. For the most part, the costs associated with depositing and withdrawing with Coinbase are better than the average.
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. However, there is a $25 fee for withdrawing via wire transfer. There is a small cost of between $0.55 and $25 for US users.
Having trouble withdrawing? 8 top reasons your Coinbase withdrawal failed.
When it comes to withdrawing crypto, the fee is determined by the blockchain network load at the time of the withdrawal. For example, the typical transaction cost for Bitcoin is 0.0005BTC.
|Method||Deposit Fee||Withdrawal Fee|
|Crypto||Network Fees||Network Fees|
Coinbase Fees - Compared
While the fees for getting money on and off Coinbase are reasonable, the exchange’s trading fees let it down. Below, we’ve compared Coinbase with a few other popular exchanges like Binance to make this cost difference more apparent. For a comparison of the fees on Coinbase vs Binance, read this article.
|Exchange Name||Trading Fee|
|Coinbase||0.6% Taker, 0.4% Maker|
Coinbase Ease of Use
When it comes to the user experience, Coinbase is well-designed for the general public, it has an intuitive interface that is straightforward to navigate. The dashboard is elegant and features a navigation bar on the left that provides quick links to the exchange's main features. In addition, Coinbase's users can customize the home page to show their favorite coins on a watchlist to monitor the prices quickly (not offered on Binance for example).
Users can click on the asset to view a larger chart with crucial information like an asset's overall market cap, recent trading volume, and the circulating supply. Another great feature we found is the buyer 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 investors' sentiment within the market.
Users can enter the amount of fiat currency to spend, review the order, and place a buy/sell order with the connected bank account, debit card, or other payment type linked to the Coinbase account.
Ready to invest in crypto? Beginners guide on how to buy crypto.
Coinbase Mobile App
Coinbase offers one of the best crypto apps for Android and iOS devices. Like the website app, the Coinbase mobile app offers streamlined functionality, enabling everyday investors to buy and sell crypto easily. Based on 179,000 customer reviews and over 10 Million downloads at the time of writing, the Coinbase IOS app has an excellent rating of 4.6/5.0, which indicates its high reliability and reputation.
To ensure that our Coinbase review is as accurate as possible, we installed and trialled the Coinbase app. After playing around, we found the app simple, elegant, and very responsive.
Initially, users are met with a screen containing quick links to services like buying/selling, the Coinbase card, and the earning platform. Next, investors can find the price of assets just below the quick links. Finally, the trade screen features only the essentials, allowing users to view a basic chart and some information related to the asset.
Coinbase has worked to improve its customer support over the past few months. For those who may require support, there is phone support, 24/7 live chat, and a ticketing system. In short, there is a good variety of support methods for beginners. We found the support team to be generally responsive and work to get issues resolved as soon as possible. However, some other users have reported lacklustre responses from support, indicating that there is still room for improvement.
Coinbase Security: Safe To Use?
Coinbase is one of the safest places to buy and store digital assets using their online wallet. The exchange features security measures to ensure customer funds and personal information are kept safe at all times. Two-factor authentication (2FA) is a requirement when setting up a Coinbase account. Furthermore, Coinbase offers resources detailing the best practices for users looking to secure their accounts.
Based on our research, while the platform itself hasn’t been compromised, Coinbase did previously reveal that over 6,000 customer accounts had been compromised by hackers. Thankfully, Coinbase carries theft insurance meaning that US investors should always be made whole when losing money through no fault of their own.
Frequently Asked Questions
Coinbase is one of the biggest exchanges for crypto and is widely considered a suitable choice for beginners. It features a wide range of features and services to onboard new crypto investors and traders. While the fees are slightly higher, it is highly accessible and easy to use which is part of its appeal to newer users.
Coinbase doesn’t charge any fees for the use of its wallet. However, traders should consider the network fees miners charge for processing transactions. While these charges are usually negligible, there are instances when network fees increase, especially during periods of network congestion.
Coinbase fees range between 0.6% to 0.05% based on 30-day trading volume. The transaction costs are a little higher than other platforms to buy Bitcoin, but for simplicity-focused users, they could be worthwhile.
Coinbase is a supported cryptocurrency exchange in Australia. Residents of the country can create an account with Coinbase and buy crypto in AUD using a debit card. Unfortunately, there is currently no option to withdraw funds back to AUD using Coinbase, which is a significant disadvantage that should be considered.
Final Verdict and Score
Coinbase is a reputable exchange in the US and over 100 supported countries that enables users to buy and sell crypto without any fuss. The streamlined app also makes it an excellent choice to manage a cryptocurrency portfolio effortlessly. With a great selection of 241 coins to invest in and multiple payment methods, we could not fault Coinbase. However, some traders may find the platform lacking and prefer more advanced trading platforms.
While writing our Coinbase review, we carefully analyzed the most important aspects of the platform, awarding each with a score. Below, we’ve summarized our review findings.
|Review Criteria||HedgewithCrypto Rating|
|Features||4.8 / 5|
|Supported Fiat and Deposit Methods||4.8 / 5|
|Supported Crypto & Trading Pairs||4.3 / 5|
|Fees||4.2 / 5|
|Ease of Use||5 / 5|
|Customer support||4.5 / 5|
|Security Measures||5 / 5|
|Mobile App||5 / 5|