Coinbase Review

Coinbase Review

Coinbase was founded in 2012, San Fransico by Brian Armstrong and Fred Ehrsam. Now having more than 7 millions users, it supports even 3 top cryptocurrencies: Bitcoin, Litecoin and Ethereum.

Supported Cryptocurrencies
  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
Offered Services
  • Buy Bitcoin, Litecoin, Ethereum
  • Sell Bitcoin, Litecoin, Ethereum (depends on the country)
  • Wallet
  • Mobile Wallet
  • Merchant Services
Payment Methods Accepted
  • Credit/Debit Card
  • Paypal (US only)
  • Bank Account (US only)
  • Deposit (US only)
  • SEPA (Europe)
Fees
  • Credit/Debit card buys - 3.99%
  • Standard buy/sell - 1.49%
  • Wire transfer - $10 in, $25 out
  • SEPA - FREE in, €0.15 out
  • US Bank Account - FREE
  • Paypal - 3.99%
Verification Process
  • Periodically asks for its customers to provide identification documents (regarding to KYC laws)
  • Coinbase may require for additional verification if needed
Supported Countries

United States, Canada, Singapore, Australia, Europe (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom)

Coinbase Review
Speed
  • Credit/Debit card - instant if verification is completed
  • Bank transfer - 5-7 days
  • SEPA - 1-3 days
Limits
  • It depends on your verification level
  • U.S. customers can buy up to $50,000 worth of coins daily
  • European customers can have up to €30,000 in their account, at any time
Privacy
  • Coinbase asks and keeps your full name, address, IP address, phone and all other details you provide
  • User doesn't have a control of his private keys
Security
  • Coinbase stores most of assets in offline storage
  • Assets are insured
Pros
  • Have app for iOS and Android
  • Offers recurring buys
  • Low fees
  • Great UI and easy to use
Cons
  • There were reports of Coinbase tracking where customers spend their Bitcoins
  • Poor support
Conclusion

In conclusion, Coinbase has a great platform for buying Bitcoin, Litecoin and Etherum. Company is well-capitalized as well. Coinbase is a great choice for cryptocurrency newcomers because of simplicity.

However, public information about their tracking of customers coins spending habits and doubtful suspensions took few points away here - in this Coinbase Review.

Rating
7/10