Coinbase Review 2022: Best Crypto Exchange ?
Today I’m going to give you a quick Coinbase review, as well as a little bit more of a deep dive into the Coinbase website. Should you use Coinbase and Coinbase Pro? Let’s find out.
Founded in 2012 Coinbase is a fully regulated and licensed crypto exchange it has multiple different services but, in this review, we're going to focus on one in particular: it allows you to buy and sell bitcoin on the exchange, as well as, it also will allow you to buy and sell over 50 other different cryptocurrencies. I believe Coinbase’s system to be one of the fastest and easiest processes to work with. It has multiple different payment methods ranging from a wire transfer to a debit process, to a credit card payment. Just be aware that some of these processes will come with a fee.
So Coinbase’s transaction fees are premium on the current market value in addition to a transaction fee relative to the transaction cost overall. Users will have a 1.49% transaction fee for every trade. We've found that this is relatively comparable to other crypto exchanges out there.
So Coinbase does offer some insurance for digital currencies being held on their site and app, but this does not count for individual compromise of accounts and what also is special about Coinbase is that if you are a us resident then they will insure up to 250,000 of your USD wallet.
So, one big thing to note about Coinbase is that it is a custodial account which means that not your keys not your crypto. They can freeze your account without a notice and they have done this before. If you are interested in buying coins that you can pull off the exchange, then Coinbase is not for you.
Coinbase customer support is not the best out there they have a slow response time and they have a lack of assistance on their app. Their better business rating is a F so if you're expecting a quick turnaround time with your customer sport if you're having some issues, don't hold your breath.
So overall Coinbase is a great app for a US-based resident looking to get into a low barrier of entry into the cryptocurrency space mainly because it has competitive fees and is a fast and easy way to get into the crypto space. on the other hand, it is a custodial service not allowing you to have your keys and your control of the cryptocurrency as well as lacking some great customer service
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DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make.
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