If you’re thinking of joining the cryptocurrency revolution, consider Coinbase, the world’s largest Bitcoin exchange. With its easy-to-use mobile app and 24-hour live phone support, Coinbase is one of the most popular exchanges. But with all the benefits, Coinbase comes with a few drawbacks, too. Read on to learn about the pros and cons of Coinbase before signing up. And don’t forget to read the detailed Coinbase review to get the scoop on its features and benefits.
Coinbase is the world’s largest Bitcoin exchange
The emergence of crypto currencies has spurred hundreds of cryptocurrency exchanges to launch since 2009. These exchanges are providing a platform for users to buy and sell digital coins that are not available on conventional trading websites. As a result, Wall Street is warming up to the asset class, with Bitcoin hitting new highs this year. The price of bitcoin even topped $63,000 at one point in April. This has spurred frenzies of buying in a number of digital assets, including Ethereum and Litecoin.
This exchange is regulated and features high security practices. The user interface is easy and convenient for those new to cryptocurrency investing. For more sophisticated users, Coinbase offers tools and resources to enhance their trading experience. Coinbase has a leveling system that lets you progress as you learn. Select is an in-depth publication covering tech, personal finance, and wellness. It is also active on social media. There are two levels of Coinbase accounts available, so you can choose one that suits your needs best.
It offers an easy-to-use mobile app
Coinbase has one of the easiest-to-use mobile apps of any cryptocurrency exchange. Its simple user interface features large icons of coins, and buy and sell buttons. The interface resembles that of a traditional financial app, and is accessible to anyone. The mobile app makes it easy to send and receive cryptocurrencies, and it eliminates the need to learn addresses. Users simply enter their user ID and tap send.
While the Coinbase mobile app is very easy to use, it is also a bit pricey. It charges a flat fee of $0.99 to $2.99 for small transactions, and it adds a 0.5% spread to the purchase price, which means the buyer pays more than the market rate and Coinbase pockets the difference. For a $25 purchase, this amount equates to about 8.4%.
It has 24/7 live phone support
Coinbase has recently added 24/7 live phone support to their customer service offerings. In addition to email and chat, the company offers educational content and incentive programs to educate users about cryptocurrency. The company’s Coinbase Earn program includes video classes and exams that reward customers with a certain amount of cryptocurrency for completion. However, the company has not responded to complaints from the BBB since 2016.
Despite this, customers have complained of account lockouts and theft. While the company has made improvements, it still has not fully fixed all issues. Many customers have also reported a lack of communication with customer service representatives, which has made it difficult to resolve problems and get assistance. As a result, Coinbase is gearing up to go public in the next few weeks. It’s one of the biggest cryptocurrency enterprises in the world, and customer service is an important component of that.
It has high fees
If you are thinking of buying Bitcoin, you’ve probably heard of Coinbase. It is an easy-to-use, convenient way to buy and sell digital currency. However, Coinbase has some fairly high fees. The fees can range from 1.49% to 3.99% for the standard account. They’re lower for Coinbase USD wallets and US bank accounts, but higher for debit and credit cards. These fees vary by region and bank, so be sure to read the terms and conditions before you invest.
Coinbase isn’t the only exchange with high fees. During market panics, it tends to go down. If you’re active in the cryptocurrency market, consider using Coinbase Pro. This exchange doesn’t charge withdrawal fees. However, if you’re trading large volumes, the withdrawal fee can eat up some of your profit. Fortunately, you can avoid this fee by using another service instead. Here are some of the alternatives: