Coinbase review 2024: Reviewed for beginners

What is Coinbase?

Coinbase, established in 2012 by Brian Armstrong and Fred Ehrsam, facilitates cryptocurrency transactions, enabling users to buy crypto with fiat currencies, sell crypto for cash, or trade one cryptocurrency for another. With over 100 million users across 100+ countries, Coinbase went public in 2021 on the US Nasdaq exchange, enhancing transparency with SEC filings and quarterly earnings reports. Boasting daily trading volumes surpassing $1 billion, Coinbase stands as a prominent global crypto exchange, offering high liquidity for traders.

Which cryptocurrencies are available for trading on Coinbase?

Coinbase provides access to a wide range of cryptocurrencies, totaling more than 250 options. Among them are popular assets such as Bitcoin and Ethereum, which collectively contribute approximately 45% of the platform's trading volume.

However, Coinbase offers more than just the major cryptocurrencies. It provides access to a broad spectrum of digital assets and often serves as a platform for the debut of new cryptocurrencies.

For instance, when The Graph (GRT) debuted on Coinbase in December 2020, its value surged significantly, multiplying fivefold within the first three days of trading. Eventually, it skyrocketed nearly 20 times higher than its initial price of $0.12. Coinbase also highlighted this cryptocurrency in its learning rewards program, a popular initiative for earning free cryptocurrency while gaining insights into new tokens.

The most actively traded assets on Coinbase comprise:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Solana (SOL)
4. Dogecoin (DOGE)
5. Ripple (XRP)
6. Chainlink (LINK)
7. Shiba Inu (SHIB)
8. Avalanche (AVAX)
9. Litecoin (LTC)
10. Fetch.ai (FET)

Coinbase charges and fees explained

Coinbase, akin to other trading platforms, imposes a range of fees on trades, such as percentage-based fees or spread fees. Additionally, traders may encounter non-trading fees, including deposit charges.

Trading fees 

For retail traders, Coinbase offers two platforms: Simple Trades and Coinbase Advanced. Among these, Coinbase Advanced generally incurs lower fees compared to Simple Trades.

Coinbase simple trade fees 

Trades executed via Coinbase's simple trading platform follow a tiered fee structure based on the trade amount. Additionally, prices encompass a spread, typically around 1%, fluctuating based on market conditions. The spread facilitates locking in a trade price temporarily and is factored into the asset's quoted price.

The fee breakdown for simple trades varies:

• $10 trade: $0.99 fixed fee
• $25 trade: $1.49 fixed fee
• $50 trade: $1.99 fixed fee
• $75 trade: $2.99 fixed fee
• $100 trade: $3.84 (percentage-based fee)
• $500 trade: $19.18 (percentage-based fee)

For lower-order values up to $10, fees range from 10% to 50%, with a $0.99 charge for the minimum $2 order (50%). As trade amounts increase beyond $50, fees decrease to 4% or less for simple trades. The quoted price for simple trades includes a spread, typically 1%, whereas trades involving USDC, a stablecoin pegged to $1, may not include a spread.

Coinbase advanced trading fees

To minimize trading expenses on the platform, opting for Coinbase Advanced is an option. While it may not be as user-friendly as simple trades, the potential savings from reduced trading fees could justify the effort of mastering the advanced platform.

Coinbase advanced implements a percentage-based fee structure determined by the order type and your 30-day trading volume. For the lowest volume tier, the fees are outlined as follows:

• Limit order (maker fees): 0.60% of the transaction value
• Market order (taker fees): 0.80% of the transaction value

Orders executed through Coinbase Advanced directly engage with the exchange's order book, which lists all open orders. Unlike simple trades, Coinbase doesn't impose a spread on these orders; however, if you opt for a market order, you'll incur the prevailing market spread.

We'll delve deeper into Coinbase's trading platforms and order options in subsequent sections of our Coinbase review.

Coinbase fee comparison for trading

The trading expenses on Coinbase vary based on your trade size for simple trades or the type of order you make, alongside your 30-day trading volume for Coinbase Advanced. Below is a comparison table illustrating the expenses of purchasing $100 worth of Bitcoin on Coinbase against other prominent platforms.

Additional fees beyond trading costs

To its advantage, Coinbase imposes few additional fees related to trading. Notably, there are no account or inactivity fees. Withdrawals via ACH transfer are free, but withdrawals through Swift (GBP) incur a £1 fee, while SEPA (EUR) withdrawals cost €0.15. Wire transfer withdrawals are subject to a $25 fee.

Deposits via ACH (USD) and Swift (GBP) are fee-free. However, depositing via PayPal incurs a 2.5% fee, but funds can be utilized for both simple and advanced trades. Both debit cards and PayPal are accepted for simple trade purchases, following the previously outlined fee structure. Presently, there's no option to deposit via debit card for use in advanced trading.

If you utilize the Coinbase debit card or engage in staking through Coinbase, you may encounter additional non-trading fees, which will be discussed shortly.

Regarding Coinbase withdrawal fees, they primarily apply to crypto withdrawals. When withdrawing crypto to a self-custody crypto wallet, you should expect network fees. These fees are not determined by Coinbase; rather, they are associated with using the blockchains themselves and fluctuate based on network activity.

Features offered by Coinbase

Apart from cryptocurrency trading, Coinbase provides various features associated with the crypto ecosystem. Additionally, it offers a subscription-based trading program known as Coinbase One, which enables fee-free trading.

Crypto staking and additional benefits

Proof of stake is increasingly utilized as a validation mechanism for crypto blockchains like Ethereum. However, setting up staking independently can be complex, especially for casual users. Coinbase simplifies this process, making it easier for users to earn yields from crypto staking rewards.

In regions where staking is restricted, such as certain US states, users can still engage in trading cbETH, Coinbase's liquid-staked ETH token. Currently, cbETH offers a yield of 3.27% APY and allows users to open or close positions as desired through buying or selling.

Moreover, Coinbase occasionally presents promotional APY offers. For instance, at present, users can earn a 5.00% APY on USDC held on Coinbase. USDC is a prominent stablecoin pegged to the US dollar's value.

The reported APYs mentioned above represent yields after Coinbase deducts its staking commission and could fluctuate based on network demand compared to staked supply.

While Coinbase does not impose a fee for staking or unstaking supported proof-of-stake cryptocurrencies, the platform retains a portion of the staking rewards earned, typically ranging from 25% to 35%.

Although this range may appear substantial, it ensures Coinbase remains competitive with similar exchange staking programs such as Binance.US, which imposes a staking commission between 20% and 35%, or Uphold, where commissions can reach up to 34%.

Coinbase card 

A common critique of cryptocurrencies is their limited usability for transactions. Despite increasing merchant acceptance, crypto payments are not universally recognized. Coinbase's debit card addresses this issue by allowing users to spend their crypto assets like cash while earning cash back in the process.

Coinbase’s Visa card is directly linked to your Coinbase account, allowing you to seamlessly convert your cryptocurrency to USD for making purchases almost anywhere.

However, there is a cost associated with this convenience. Instead of the previous 2.49% conversion fee, Coinbase now employs an undisclosed spread to cover real-time crypto-to-USD conversions. This spread is applicable to both purchases and ATM withdrawals where you convert crypto to dollars. Notably, the spread does not affect conversions from USDC to USD, and you can still earn the current promotional APY of 5.0% on unused USDC balances.

Moreover, you have the opportunity to earn crypto-based cash back for your card transactions. Each month, Coinbase updates the available rewards and their respective rates. If you opt not to select a new reward, Coinbase will automatically assign one for you.

While crypto rewards have previously peaked at 3%, the current options have been capped at 0.5%.

The Coinbase Card is accessible to customers of Coinbase in the US, UK, and EU regions.

Coinbase one

Trading fees can accumulate rapidly for frequent and large-scale traders. However, Coinbase presents a remedy to perpetual exchange fees through its Coinbase One subscription. For approximately $30 per month, traders can conduct fee-free trades on monthly transactions of up to $10,000.

Coinbase One subscribers also benefit from enhanced rewards with lower commissions on staking. For those in eligible markets like the US, UK, Germany, or Ireland, access to 24/7 phone support is provided. Additionally, US users receive a pre-filled Form 8949 to simplify their cryptocurrency tax filing process.

According to Coinbase, members of Coinbase One save an average of $55 in trading fees per month on Coinbase crypto transactions.

NFT Marketplace

Although still in its "Beta" phase, Coinbase's NFT marketplace gained attention upon its launch in early 2022. Initially focused on Ethereum, the platform has since expanded to include NFTs on Polygon and Base, Coinbase's proprietary Layer 2 Ethereum-compatible blockchain.

Accessing the NFT marketplace directly from your Coinbase account is not possible. Instead, you need to utilize an Ethereum-compatible self-custody crypto wallet such as MetaMask or Coinbase Wallet. Interestingly, Coinbase also offers its own crypto wallet, which will be elaborated on shortly.

Alternatively, you can link to Coinbase's web3 wallet, a topic we will delve into soon.

However, you have the option to link popular crypto wallets like MetaMask or Coinbase Wallet to Coinbase Pay. This feature provides a convenient method to purchase crypto through Coinbase and transfer it directly to the connected wallet for use on the NFT marketplace.

Web3 Portal

Web3 denotes the growing realm of decentralized applications (dApps), encompassing various functionalities like lending, crypto exchanges, gaming, and social networking. For novices navigating this vast landscape, the challenge lies in finding the right starting point.

Coinbase simplifies Web3 integration through its Web3 portal, offering a curated selection of dApps across nine blockchains, such as Ethereum, Base, Polygon, and Solana.

What are dApps?

Decentralized applications, or dApps, are software programs that operate on blockchain technology. While they resemble typical websites or mobile apps, they interact with smart contracts to execute financial transactions or other operations.

Decentralized implies that once deployed, smart contracts function autonomously without intermediaries that could alter the transaction's outcome. It relies solely on mathematical algorithms and code—if a certain condition is met, a specified action is executed.

Crypto wallets such as Coinbase Wallet, which support smart contract networks like Ethereum, enable users to access dApps. These dApps facilitate activities such as lending, borrowing, cryptocurrency swaps, and exploration of metaverse applications.

Similar to the NFT marketplace, Coinbase's Web3 Portal doesn't directly link to your Coinbase account. Instead, you connect a compatible wallet to the desired dApp. If you've integrated Coinbase Pay with your wallet, you can utilize it to purchase crypto or transfer funds from your trading account to your wallet.

Notable dApps include BaseSwap, PancakeSwap, Balancer, Lido, Compound, Beefy Finance, Solend, and Marinade Finance. Coinbase offers access to over 500 dApps, allowing users to search, filter by rating, or refine their search by category and blockchain type.

Earn crypto while learning

Coinbase has introduced learning rewards, enabling users to earn cryptocurrency by watching brief videos on new protocols and completing quizzes. Upon passing each quiz, users receive rewards in the cryptocurrency discussed in the learning modules. Some of the current free crypto offerings include The Graph (GRT), Amp (AMP), and Near Protocol (NEAR).

Coinbase vaults: Secure your crypto

Coinbase employs cold storage for enhanced security, keeping most assets offline. For added protection, especially with large balances, consider using a Coinbase vault. It allows you to store crypto separately from your main trading balance, offering features like time-delayed withdrawals and multi-approver access for added security.

Coinbase vaults are accessible to all account holders.

Coinbase's trading options

Coinbase offers retail traders two distinct trading platforms: a straightforward one known as Simple Trade and an advanced platform called Coinbase Advanced. Accessing Simple Trade is convenient through Buy/Sell buttons scattered across the site, and users can seamlessly switch between the two platforms using the user icon in their account.

Basic (Simple trade)

Coinbase is recognized for its user-friendly interface, particularly its straightforward trading platform. This versatile tool allows users to effortlessly buy, sell, or exchange cryptocurrencies with just a few clicks.

Additionally, users have the option to establish recurring purchases, which is useful for dollar-cost averaging, or create custom orders. Coinbase's custom order feature is a recent addition, allowing users to specify their desired price or select from percentage-based options.

For instance, the following order will be triggered if Bitcoin's price decreases by 10% from its current market value.

Coinbase's simple trades provide more payment options compared to Coinbase Advanced. The simple trading platform allows instant purchases funded by cash, bank transfers, PayPal, or debit cards, while Coinbase Advanced mandates a cash or crypto balance.

However, this convenience comes with higher trading fees compared to the advanced platform. Purchasing $100 worth of Bitcoin through the simple trade widget incurs a fee of $3.84, whereas the same trade on Coinbase Advanced costs $0.60 or $0.80, depending on whether you opt for a limit order or a market order.

In addition to the trading fees, there's also a spread on simple trades. Our testing revealed a 1% spread for every asset except USDC, which didn't incur a spread. This spread acts as a markup that allows the exchange to secure a price.

Coinbase provides a trade preview for simple trades, allowing users to review the numbers to ensure the trade, after fees, aligns with their preferences.

Coinbase advanced trading platform

The advanced trading platform offers a significant reduction in trading costs, with limit orders at 0.6% of the trade and market orders at 0.8% of the trade. However, the fees you'll actually pay may not align with Coinbase's published fee schedule.

Coinbase Advanced supplants the now-defunct Coinbase Pro trading platform, offering numerous enhancements. These include sophisticated charts powered by TradingView and unified account balances across basic and advanced trading. Previously, users had to transfer balances to Coinbase Pro to initiate trades.

Integration with the primary exchange endows Coinbase Advanced with further benefits compared to Pro. Cash balances for US accounts now enjoy FDIC pass-through insurance, and users can utilize Coinbase Advanced alongside Coinbase Vaults to safeguard larger balances until trading is desired.

While the basic trading platform features a simplistic numerical interface, Coinbase Advanced introduces customizable TradingView charts boasting over 100 indicators.

Advanced charting tools may eliminate the necessity for external tools, thus reducing your trading expenses while enabling precise timing for your next trade.

Nevertheless, for traders primarily seeking to circumvent the higher fees linked with simple trades, Coinbase Advanced simplifies basic trading.

By default, orders are set to limit orders, which are fixed-price orders allowing you to customize your trade by selecting a price you specify or a predefined percentage change from the current price. For instance, you can designate an order to execute at 1% below the current price, effectively covering your trading fees and even saving some on the price.

Maker and taker fees explained 

Advanced trading platforms such as Coinbase Advanced utilize a maker/taker fee model.

• Maker orders contribute to market-making by placing fixed-price limit orders, which populate the order book – a ledger of buy and sell orders – thereby enhancing liquidity (trading inventory) for other traders.
• Taker orders constitute market orders, drawing liquidity from the exchange by utilizing the maker orders in the order book to fulfill orders at the prevailing "market" price.

Taker orders typically incur higher fees compared to maker orders. For instance, Coinbase imposes a 0.8% fee for taker orders, whereas maker orders are subject to a 0.6% trading fee.

Coinbase provides a dedicated section in its learning center focused on advanced trading. Whether you're new to advanced trading or seeking a refresher on certain details, you'll discover guides and videos to assist you.

Coinbase advanced API

The Coinbase Advanced API allows users to access their accounts and execute trades remotely using third-party software or custom-built applications.

For example, if you wish to employ Coinbase for dollar-cost averaging into a Bitcoin position, the straightforward approach involves using Coinbase's basic trading function to establish a recurring purchase. However, this method entails higher fees.

With Coinbase's Advanced Trade API, you can create your own dollar-cost averaging application, automatically purchasing a fixed amount at specified intervals. This could potentially reduce your trading fees by more than 80% if you possess the programming skills to develop the software yourself.

Coinbase's API enables integration with external applications, offering a robust trading solution even for individuals without advanced coding expertise. Third-party trading bots present a pre-built option for trading via API without requiring any programming knowledge. These automated traders execute trades based on predefined rules, operating continuously like the cryptocurrency market itself.

Coinbase futures

Coinbase Advanced also facilitates futures trading for eligible traders, allowing them to speculate on the future price movements of BTC or ETH.

However, not all accounts will meet the criteria for eligibility. The application process for Coinbase Futures trading takes into account factors such as age, trading history, net worth, income, and occupation.

At present, futures trading is limited to watch-only mode on mobile devices, while trading functionality is available on the desktop application.

Coinbase wallet

Cryptocurrency wallets store the private keys necessary to control your digital assets. Exchanges like Coinbase typically offer custodial wallets, meaning they hold the private keys on your behalf, but you can access your account through a login. On the other hand, a self-custody crypto wallet provides a means to transfer your cryptocurrency from an exchange wallet to a wallet under your control.

Coinbase Wallet stands as an independent self-custody cryptocurrency wallet developed by Coinbase. However, possessing a Coinbase account isn't a prerequisite for utilizing the wallet. Nonetheless, integrating a Coinbase account enhances its functionality, enabling features such as purchasing cryptocurrencies through Coinbase directly deposited into the Coinbase wallet.

Fees associated with buying cryptocurrencies through Coinbase Wallet closely mirror those of Coinbase's basic trading, albeit slightly higher. For instance, trading fees for a $100 Bitcoin purchase amounted to $4.01 compared to $3.84 for simple trades. Additionally, there's a network fee for transferring cryptocurrencies from the exchange wallet to the Coinbase wallet.

The selection of supported blockchains varies based on the version of Coinbase Wallet used. The mobile variant supports Bitcoin, Ethereum (including ERC-20 tokens and NFTs), Solana, Dogecoin, and Litecoin. In contrast, the Chrome extension version limits support to Ethereum, Solana, and EVM-compatible networks.

EVM-compatible networks

 The Ethereum network, renowned as the pioneering smart-contract crypto network, enables users to interact with software programs residing on the blockchain. However, the network's popularity has led to increased transaction costs due to heightened demand.

To address speed and cost concerns, Layer 2 networks like Polygon, Arbitrum, or Coinbase's newly introduced Base network offer faster and cheaper alternatives. These networks, termed EVM-compatible, can execute smart contracts akin to the Ethereum mainnet.

Wallets like Coinbase Wallet and MetaMask support both the Ethereum network and EVM-compatible networks such as Polygon and Arbitrum.

Features of Coinbase Wallet

The Coinbase Wallet app extends beyond cryptocurrency trading to encompass various functionalities:

• Buy: Seamlessly connect to your Coinbase account for instant cryptocurrency purchases.
• Bridge: Facilitate cryptocurrency transfers across different blockchains.
• Swap: Access 75 decentralized exchanges through Coinbase Wallet to discover optimal exchange rates when swapping supported cryptocurrencies like Ethereum or ERC-20 tokens.
• Explore dApps: With a built-in dApp explorer, Coinbase Wallet enables connection to leading decentralized applications such as Uniswap, OpenSea, Yearn Finance, and more.
• Send & Receive: Transfer cryptocurrency to other wallets or receive crypto from others.

Coinbase user experience

Coinbase aims to provide a user-friendly entry point into the cryptocurrency world, although as the platform expands its features, navigation may become slightly less intuitive. Nonetheless, commonly used features remain readily accessible.

Positive features

During trading activities, Coinbase offers helpful tips denoted by question marks or "i" icons for information. These cues appear near trades, providing insights into fee calculations or whether the price includes a spread added by Coinbase. Such tips enhance transparency regarding trading costs, assuming users engage with the help prompts.

Additionally, we appreciate the asset overview provided for each tradable asset. Users can search for an asset or browse available cryptocurrencies and scroll down to access links to the project whitepaper, news, and a brief summary of the cryptocurrency.

Areas for improvement

 Newer users could benefit from an easily accessible help screen for Coinbase Advanced. Although help resources are available, the catalog of help pages for Coinbase Advanced isn't directly linked from the desktop web app, where assistance may be most needed.

Furthermore, we identified a setting for advanced trades that may incur costs for traders if not adjusted to align with their trading preferences.

Limit orders default to "allow taker," a setting that ensures order execution but also increases the trading fee to 0.8% instead of the 0.6% fee for maker orders, representing a 33% rise in trading fees. Changing this setting to "post only" generates a genuine limit order with a reduced 0.6% fee.

What’s Missing?

Various competitors offer features currently unavailable on Coinbase, such as a demo account and copy trading.

• Copy Trading: Platforms like eToro, Binance, and OKX offer copy trading, allowing users to replicate the trades of successful traders, easing the need for technical analysis and enabling users to allocate a fixed amount to invest in each copied trade.
• Stock Trading: Competing platforms like Robinhood and eToro offer stock trading alongside crypto trading, facilitating portfolio diversification within a single platform.
• CopyPortfolios: eToro's smart portfolios, previously known as CopyPortfolios, offer an ETF-style approach to invest in a basket of cryptocurrencies based on a specific theme or market segment.
• Paper Trading: A demo account, available on platforms like OKX and eToro, allows newer traders to familiarize themselves with the platform and crypto trading practices, while experienced investors use it to test trading strategies.
• Forex Trading: Platforms like eToro and Uphold provide forex trading in supported regions, enabling traders to invest in other currencies.

Despite these omissions, the launch of Coinbase's NFT marketplace and web3 portal demonstrates ongoing innovation to address market needs.

Mobile app

The Coinbase mobile app mirrors the functionality of the web app, but with improved accessibility compared to the desktop experience.

However, potential confusion arises when using the Coinbase mobile app with the Coinbase web3 wallet, which is currently accessible to select users during rollout (requiring identity verification). As an alternative, users can opt for the Coinbase wallet app, which doesn't mandate additional identity verification and is also linked from the mobile app.

Generally, navigating the Coinbase app is straightforward. It offers a swift experience, intuitive navigation, and easy access to key features like simple and advanced trades.

Advanced trading on mobile provides a limited selection of trading indicators compared to the desktop app, with only a few available such as MACD and Bollinger Bands. For more indicators, users must turn to the desktop app or use another charting application. Nonetheless, mobile advanced trading should suffice for most traders seeking lower trading fees.

One notable advantage of mobile advanced trading is the inclusion of tutorials, which are not readily accessible on the desktop web app.

To access tutorials covering various topics from order types to the order book itself, simply click on the "i" icon located at the top of the screen to open a menu.

The mobile Coinbase app also offers two-factor authentication (2FA) for the web app. If you (or anyone else) attempt to log in to Coinbase from an unrecognized computer, Coinbase sends an authorization request to the mobile app installed on your device.

Different account types

Coinbase provides three fundamental account options, each catering to distinct objectives.

Individual accounts

Most traders and investors opt for individual accounts, which require KYC (know your customer) identity verification to access all trading features.

Institutional / Business accounts

 Coinbase also caters to businesses with separate legal entities. Through a service called Coinbase Prime, businesses can engage in trading and securely store crypto assets at scale.

Commerce accounts

 Businesses wishing to accept crypto payments can open commerce accounts, facilitating easy conversion from crypto to USD. These accounts offer both self-service and managed options.

Payment methods supported by Coinbase

 Coinbase supports various payment methods, the availability of which may vary by region.

In the US, payment options include:

• Google Pay and Apple Pay (via debit cards)
• ACH Bank Transfer
• Debit Cards
• Wire Transfers
• PayPal

Payment options in other parts of the world may include:

• PayPal
• Wire Transfers
• Google Pay and Apple Pay (via debit cards)
• Faster Payments Transfer
• 3D Secure Card
• Easy Bank Transfer
• iDeal
• Sofort
• SEPA Transfer

It's worth noting that the chosen payment method can impact the speed at which funds become available for trading. For example, while ACH bank transfers may take 3-5 business days to process, funds from debit card or PayPal transactions are typically available instantly.

Additionally, it's important to compare deposit fees. ACH deposits are usually free, while PayPal deposits may incur a 2.5% deposit fee. Although some sources mention a 3.99% fee for debit card purchases, this was not observed in our review of Coinbase.

Debit card and PayPal transactions for purchases seemed to adhere to the fee structure of simple trades without any extra charges based on the payment method.

However, purchases funded through bank deposits incurred a lower fee: 2.99% for cash, as illustrated below, compared to 3.84% for purchases funded via PayPal or debit card.

Minimum deposit requirement on Coinbase

Coinbase mandates a minimum deposit of $2 to initiate your account. For US customers, the minimum trade amount stands at $1.99 in USD.

Withdrawal timeframes on Coinbase

Similar to the availability of funds for deposits, the time it takes for withdrawals to process varies depending on the chosen withdrawal method.

Coinbase support services

Apart from eToro, which boasts an impressive 4.4 out of 5-star Trustpilot rating, only a few cryptocurrency exchanges receive favorable ratings from consumers on Trustpilot. Coinbase falls into this category. With a Trustpilot rating of 1.5 out of 5, Coinbase's reviews on the platform are comparable to those of Binance (2.1 out of 5-star rating) and Kraken (2.5 out of 5-star rating).

Despite these ratings, customers have various channels to contact Coinbase, including a customer service phone number, which is relatively uncommon in the industry.

Countries supported by Coinbase

Crypto regulations differ across countries, and many are in the process of establishing regulations that support trading markets while ensuring consumer protection. Consequently, the accessibility of crypto exchanges varies by region.

Moreover, you may encounter restricted access to certain features based on your location. For instance, while Coinbase provides staking services in the US, it does not offer staking in several US states due to cease and desist orders issued by those states. Similarly, Coinbase is entirely unavailable in Hawaii.

Coinbase operates in some capacity in over 100 countries globally, including the US, Canada, UK, and Europe, but there are currently regions or countries where its services are not available:

• North Korea
• Singapore
• China
• Syria
• Iran
• Crimea
• Cuba

Is Coinbase secure? Licensing and security

For many cryptocurrency investors, licensing and regulation are crucial factors to consider. Coinbase is regulated in multiple jurisdictions, including prominent markets like the US, UK, and Australia.

In the US, it is regulated by the Financial Crimes Enforcement Network (FinCEN), Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC). In the UK, it falls under the oversight of the Financial Conduct Authority (FCA), while in Australia, it is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Regulators play a significant role in shaping the evolving crypto industry. The collapse of the FTX exchange underscored the importance of vigilance on the part of regulators and consumers alike. Following FTX's bankruptcy, customers holding balances on the exchange became unsecured creditors, meaning their funds may not be repaid until after the bankruptcy proceedings are settled, if at all.

Customers also benefit from Coinbase's public SEC filings as a publicly traded company, which provide insights such as earnings reports and other data indicating the exchange's health.

In conclusion, Coinbase stands out as an excellent choice for cryptocurrency traders and investors, irrespective of their experience level. Its user-friendly platform, stringent security measures, and regulatory compliance make it an ideal starting point for crypto enthusiasts. Additionally, its support for a wide range of cryptocurrencies (over 3,000) makes it suitable for those seeking to diversify their portfolio.

Advanced features like Coinbase Advanced and Prime accounts simplify technical analysis and complex trading strategies. Furthermore, its robust security measures and adherence to legal standards ensure straightforward and safe crypto trading.

With a solid reputation and track record, Coinbase ranks among the top choices for navigating the dynamic world of cryptocurrencies.