Coinbase Review: Is it a Safe Crypto Platform?

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I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

Coinbase is a centralized crypto platform and the largest exchange in the United States.

Coinbase Coinbase
4.5
Fees: 0% - 3.99% varies by type of transaction
Account minimum: $0
Pros:
  • Wide selection of crypto offerings
  • Low minimum to fund account
  • Easy-to-use app
  • Quick crypto withdrawals
Cons:
  • Complex fee structure
  • High staking commissions
Promotion: Sign up and get up to $200 in crypto

Coinbase offers 170 cryptocurrencies, features quick withdrawals and has many great features — the list below will help you decide if this trading platform is right for you.

Are you interested in crypto trading but worried about security? You’re not alone, as around 16% of Americans invest in crypto, including 31% of 18-29-year-olds, and many new traders are concerned about the safety of their investments.

In this article, I will share Coinbase’s top-notch security measures and go over the main features of the company and what it offers.

You will learn how safe and user-friendly the exchange is and will be able to decide whether you want to start trading crypto with a Coinbase account.

What is Coinbase?

Coinbase homepage
Coinbase.com website

Coinbase is a public trading company that allows users to buy, sell and trade cryptocurrency. It has over 108 million users in more than 100 countries and boasts an average trading volume of $159 billion per quarter.

Coinbase’s centralized exchange holds users’ funds in a custodial account. Customers’ digital assets stay 1:1, which means they are always available for withdrawal.

Coinbase offers investors the chance to trade crypto quickly and easily. The company prides itself on being accessible to everyone, and you don’t need to be an expert in cryptocurrency trading to open a Coinbase account.

The company started in 2012 as the brainchild of business executives Brian Armstrong and Fred Ehrsam, who aimed to create a cryptocurrency exchange that was easily accessible to millions of people around the globe.

How Does Coinbase Work?

Coinbase is a crypto exchange for buying, selling, storing and trading cryptocurrencies such as Bitcoin, Dogecoin, or Ethereum.

The Coinbase app is one of the best crypto exchanges as it has a user-friendly experience and low trading fees. Investors make money on Coinbase by selling cryptocurrency.

Traders like you can also buy crypto with card purchases and wait for it to increase in value. Coinbase makes money through transaction fees. Maker and taker fees occur every time an order goes through Coinbase.com or the wallet app, and the company takes a small percentage.

Coinbase also earns income through staking.

Coinbase Products

Coinbase offers many products that can help customers buy, sell and learn about crypto. Coinbase users can earn free crypto, invest their coins or purchase non-fungible tokens (NFTs).

Buy, Sell, & Trade Crypto

The buying, selling and trading of crypto is a driving force of the Coinbase exchange. With over $101 billion in assets, Coinbase relies on consumer trading to maintain its high company net worth.

Individuals can sign up for an account for free and start trading crypto immediately. You can add a bank account or choose from convenient payment methods such as credit cards, wire transfers or ACH transfers.

People looking to buy, sell, and trade can browse Coinbase.com and see the current worth of coins such as ALGO, DAI or Litecoin.

Crypto trading is fast and easy, and customers can withdraw their funds anytime.

Transaction AmountTransaction Fee
$10 or less$0.99
$10.01 – $25$1.49
$25.01 – $50$1.99
$50.01 – $200$2.99
Fees charged by Coinbase

Payment MethodFee
U.S. bank account1.49%
Coinbase USD wallet1.49%
Debit card3.99%
Instant card withdrawalUp to 1.50% of any transaction and a minimum fee of $0.55
variable fees for U.S.-based users

Coinbase Wallet

Coinbase Wallet is among the leading crypto wallets on the market. It lets customers hold all their crypto, private keys, and NFTs in one convenient location.

The Coinbase Wallet feature is also great for browsing the decentralized web on IOS or Android. Download it from Apple or your favorite app store, and get immediate access to decentralized liquidity pools.

You may think Coinbase is just for centralized crypto, but the wallet is so much more. Coinbase Wallet gives you access to decentralized trading so that you can swap financial products peer-to-peer.

Coinbase Wallet charges fees for some forms of cryptocurrency trading. The fee structure depends on liquidity, payment method, and order size.

You can easily take cash out and convert it to fiat currencies or U.S. dollars.

Coinbase Wallet

Coinbase Wallet is a self-custody crypto wallet, putting you in control of your crypto, keys, and data. Download Coinbase wallet for free.

We earn a commission if you sign-up, at no additional cost to you.

Coinbase Pro

Coinbase Pro is a trading platform and mobile app for individual investors. Like regular Coinbase, the pro version lets you purchase crypto with fiat currencies.

It has top-notch ease of use, and you can connect it to your USD wallet. Traders can use Coinbase Pro to trade anything from Shiba Inu to Stellar Lumens.

Benefits and features include more transaction types, higher-volume trading and lower fees. Coinbase Pro is currently active.

However, in June 2022, Coinbase announced that the company plans to eventually merge Coinbase Pro with Advanced Trade, an enhanced version of Coinbase Pro.

Pricing TierTaker FeeMaker Fee
Up to $10k0.60%0.40%
$10k – $50k0.40%0.25%
$50k – $100k0.25%0.15%
$100k – $1m0.20%0.10%
$1m – $15m0.18%0.08%
$15m – $75m0.16%0.06%
$75m – $250m0.12%0.03%
$250m – $400m0.08%0.00%
$400m+0.05%0.00%

Best for: Coinbase Pro is best for advanced users active in the crypto trading sphere. It’s also ideal for people who want to trade large volumes without incurring massive fees.

Coinbase Advanced Trade

Buy and sell crypto using advanced trading tools, earn staking rewards, and seamlessly spend with Coinbase Card using one balance on one platform.

We earn a commission if you sign-up, at no additional cost to you.

Coinbase NFT

Coinbase NFT is an online market for NFTs, which are digital multimedia assets you can buy on brokerage services or online marketplaces such as Coinbase.

These marketplaces operate on blockchain technology and use digital wallets and user authentication. Using Coinbase NFT through Coinbase Wallet comes with many benefits.

For example, NFTs are not available on the regular Coinbase market. You can sign up for Coinbase Wallet and start trading NFTs instantly.

Find your niche on Coinbase NFT and check out music, sports or gaming-themed NFTs. There’s something for everyone, and Coinbase NFT is a simple and user-friendly way for NFT beginners.

Fees: Coinbase NFT costs include the price of the NFT and a small gas fee.

Best for: This product is ideal for active traders interested in NFTs.

Coinbase Earn

Sign up for Coinbase Earn, and you can learn about crypto while earning money. Coinbase Earn is an educational platform with easily accessible video lessons and quizzes.

Users can complete educational tasks and earn small amounts of crypto. You can learn about crypto charting, stablecoins and how blockchains such as Algorand or Solana work.

There is no flat fee, and the platform is easy to use. Coinbase Earn also helps you earn an annual percentage yield (APY) by investing your crypto funds.

You can get involved in staking, where Coinbase holds onto your funds and gives you a yearly percentage. Alternatively, you can use DeFi Yield, which lends your crypto to third parties and earns you a percentage.

Coinbase Card

Coinbase Card is a Visa debit card with a crypto reward system. Every purchase you make with the card earns you a percentage in cryptocurrency.

There are few requirements in setting up a card, and customer support is top-notch. Coinbase card members must be in the mainland U.S. or Alaska, and there are no fees on purchases made with USD or USD Coin (USDC).

Use your card anywhere and earn 1% or more back in crypto. There is no fee schedule or extra costs. You won’t have to worry about security at Coinbase Card.

The system has two-factor authentication, pin-change and card-freezing capabilities.

Coinbase One

Coinbase One is a monthly subscription service for pro traders. Coinbase charges a small amount for extra benefits in this advanced service.

Coinbase fees for the pro subscription are $30 per month. Members get access to $1 million account protection, better staking fees and priority customer support.

Call the customer service phone number any time of day, and you’ll get a quick response. The best part of Coinbase Pro is the zero trading fees, and you can move crypto anytime at no cost.

Besides the low prices, you can enjoy access to crypto statistics and projections by Massari Pro. The subscription is best for active traders who regularly move large amounts of crypto.

It can help you save lots of money down the line.

Coinbase Advanced Trade

Coinbase Advanced Trade is a unified trading platform with extra features. It’s similar to Coinbase Pro and has fees based on crypto volume.

Benefits include up to 7% APY on crypto — for example, USDC and staked ETH — and more order types and modes. You can use order types such as Market, Stop Limit, Limit and Auction Mode to buy and sell crypto more effectively.

Fees: Coinbase Advanced Trade fees vary for the individual. Like Coinbase Pro, the platform calculates costs based on volume and maker/taker expenses.

Best for: Advanced Trade is best for frequent users looking for lower fees and more flexibility in trading.

Coinbase Advanced Trade

Buy and sell crypto using advanced trading tools, earn staking rewards, and seamlessly spend with Coinbase Card using one balance on one platform.

We earn a commission if you sign-up, at no additional cost to you.

Coinbase Borrow

Coinbase Borrow lets users borrow cash with Bitcoin as collateral. The system is easy to use and doesn’t check your credit score.

You can take out a loan in just a few minutes and instantly deposit money to PayPal or your bank account. Borrow up to $1 million and use your bitcoin as collateral to back up the loan. APR is 8.7% per year.

You can pay off the loan on a schedule that works for you. Coinbase Borrow requires you to pay $10 minimum interest per month.

The best part about Coinbase Borrow is that it keeps your crypto safe. The company won’t lend out your Bitcoin while it holds it as collateral.

Coinbase Direct Deposit

Coinbase Direct Deposit helps you connect your payment accounts to crypto. You can deposit your monthly paycheck with Coinbase and receive it in crypto or USD.

Coinbase can convert your check to the crypto of your choice with no additional fees. This service is not available to customers in the U.S. However, it is an ideal option for global traders paid in USD.

Fees: There are zero fees for using Coinbase Direct Deposit. Fees only apply when you buy, sell or trade your crypto.

Coinbase Private Client

Coinbase Private Client is a service for ultra-high-net-worth individuals (UHNWIs). Consider signing up for Coinbase Private Client if you have more than $30 million in assets.

UHNWIs have access to investments not available to the average trader. Coinbase Private Client can help connect you to these opportunities and stay on top of the latest research.

Coinbase Private Client also serves trusts, family offices and personal investment vehicles.

Coinbase Derivatives

Coinbase Derivatives is a futures market for retail investors. You don’t have to own a crypto wallet to get started.

Buy or sell cryptocurrency using Coinbase Derivatives. Trades happen with USD and are easily accessible to new users.

Coinbase Cloud Staking

Coinbase Cloud Staking helps you earn rewards on your crypto. It uses non-custodial staking that keeps your funds safe while you earn a percentage back.

There are two kinds of cloud staking with Coinbase: Work as a delegate to earn rewards, or use the participate feature to have a fully managed validator.

Who Should Use Coinbase?

Coinbase is a crypto trading company that is ideal for beginners or experienced investors. It’s widely accessible to users all over the globe and uses hundreds of different currencies.

Anyone can use Coinbase, whether a young investor or a high-net-worth individual. Coinbase is available for a variety of needs, from investing to trading.

Start a Coinbase account today, and start trading crypto or earning cash back.

How Does Coinbase Compare?

 
Account minimum:
$0
Account minimum:
$0
Account minimum:
$0
Fees:
0% - 3.99% varies by type of transaction
Fees:
1% for cryptocurrency
Fees:
$0 per trade
Promotion:
Sign up and get up to $200 in crypto
Promotion:
Get a $10 bonus when you buy $100 worth of crypto (U.S. only).
Promotion:
No promotion available at this time
Account minimum:
$0
Fees:
0% - 3.99% varies by type of transaction
Promotion:
Sign up and get up to $200 in crypto
Account minimum:
$0
Fees:
1% for cryptocurrency
Promotion:
Get a $10 bonus when you buy $100 worth of crypto (U.S. only).
Account minimum:
$0
Fees:
$0 per trade
Promotion:
No promotion available at this time

Getting Started with Coinbase

To get started with Coinbase:

  1. Create a free Coinbase account.
  2. Connect a bank account or payment method.
  3. Complete verification methods.
  4. Start buying, selling, trading, and staking crypto.

Is Coinbase a Safe Platform to Use?

Yes, Coinbase is a safe platform to use. The company uses cold wallet storage and stores your funds offline and away from hackers.

SIPC and FDIC insurance does not protect crypto exchanges, and crypto trading companies are prone to hackers and money laundering.

However, Coinbase is different from most centralized exchanges as it uses unique safety methods that keep your funds protected.

Cold storage is a feature that can make you feel good about putting your investments into Coinbase. Take action today and sign up for a Coinbase account!

Coinbase FAQs

Check out these top FAQs about Coinbase.

How do I withdraw money out of Coinbase?

Head to the Cash Out button on the Assets tab to withdraw funds from your Coinbase account.

You can select a destination, such as your bank account, and receive funds within minutes.

Is Coinbase legit?

You can make money on Coinbase by selling crypto or investing (staking) with the company.

Is Coinbase great for beginners?

Yes, Coinbase is ideal for beginners. The company provides learning tools and doesn’t exclude anyone from trading crypto.

Is Coinbase customer support any good?

Coinbase customer support is friendly, accessible and live 24/7.

Coinbase

Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency. Get up to $200 for getting started.

We earn a commission if you sign up, at no additional cost to you.
Coinbase
coinbase review

Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more.

Product Brand: Coinbase

Editor's Rating:
4.5

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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