What is Coinbase and How to Use It?
Coinbase, the leading main cryptocurrency exchange for the United Exhibition, has become a standard ramp for new crypto Investors. Coinbase offers a wide range of products such as cryptocurrency investment, an advanced trading platform, custody accounts for institutions, a wallet for retail investors, and its own US account fixed coin.
Coinbase was founded in 2012 and is a fully regulated and licensed cryptocurrency exchange in 40 US states and territories. Coinbase initially `` allowed Bitcoin trading, but quickly started adding cryptocurrencies that meet its decentralized criteria.
It has expanded to include Ethereum, Litecoin, Bitcoin Cash, XRP and others.
Crypto Coins Listed On Coinbase
Coinbase has numerous options for investing and trading and is planning to add more information. The current currency is currently listed:
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
Chain link (LINK)
Bitcoin Cash (BCH)
Bitcoin Satoshi's Vision (BSV) (Send Only)
Litecoin (LTC)
EOS (EOS)
Tezos (XTZ)
Star Lumens (XLM)
USD Coin (USDC)
Cosmos (ATOM)
Dash (DASH)
Ethereum Classic (ETC)
Zcash (ZEC)
Producer (MKR)
Composite (COMP)
Basic Attention Token (BAT)
Algorand (ALGO)
OMG Network (OMG)
Dai (DAI)
0x (ZRX)
Kyber Network (KNC)
Band Protocol (BAND)
Augur (REP)
Orchid (OXT)
Trading on Coinbase
Trading on Coinbase is an extremely easy process and is geared towards new programs. You can also access the platform from your android or iOS devices. Coinbase does not offer any downloadable trading software and is perhaps browser-based, including the more advanced trading platform Coinbase Pro.
When you log in, your portfolio balance and performance will be shown at various times such as one hour, 24 hours, one week, and one year.
In your portfolio balance, there is a title "Buy crypto" button, no matter which of the cryptos Coinbase owns, you can enter in dollar value. This button also brings you to sell your cryptocurrencies, or in other words, create recurring creation posts every day, every week, 1st and 15th, or monthly.
Find in the upper right corner of the page where you can find send and receive. This allows them to receive crypto shipments from Coinbase wallets or to Coinbase wallets elsewhere. Although the only cryptocurrency exchange offers withdrawal withdrawals to their own private wallet, unfortunately this is not one for some other brokers and exchanges. This capability is extremely important for investors who want to be safe and secure in their offline wallet.
What is Coinbase Pro?
While Coinbase is an incredibly simple system for emerging-only crypto investment, Coinbase Pro offers a much larger and more robust charting and trading experience.
Regular Coinbase users can buy crypto using market orders that charge high fees to other exchange options. With this in mind, Coinbase wanted to create a free option for them to switch to when they were a little more prepared for the Coinbase exam. With Coinbase Pro, you can market with a lower commission, set limits and stop orders. Coinbase Pro also has margin trading and has significantly enhanced advanced capabilities.
While the standard Coinbase platform is a great tool to help people understand how easy it is to buy, store, and transport cryptocurrency, Coinbase Pro is by far better for those who want to trade or invest actively with lower fees and more. is a platform.
Coinbase Commission Fees
Coinbase has a fee system that is quite expensive if you are not using Coinbase Pro. The cost of trading on Coinbase's standard platform is quite high compared to its competitors. Those who are new to crypto and looking for ease of use may overlook this.
Coinbase's fees vary in different countries and regions, but for the purposes of this review, we'll focus on fees in the United States.
In addition to these fees, Coinbase also charges variable spreads on trades. Coinbase says they usually charge around 0.50% for trading cryptocurrencies. Market fluctuations can make this higher or lower.
In addition to the spread and deposit cost specified in the chart above, there is also a “Coinbase Fee”. This fee depends on the value of the purchase, the type of payment (debit / credit) and the region where you purchased it.
There are the following examples of "Coinbase Fees" that you may encounter on the Coinbase platform: (prices set according to the USA)
If the total transaction amount is less than or equal to $ 10, the fee is $ 0.99 | 0,99 € | £ 0.99
If the total transaction amount is more than $ 10 but less than or equal to $ 25, the fee is $ 1.49 | 1,49 € | £ 1.49
If the total transaction amount is more than $ 25 but less than or equal to $ 50, the fee is $ 1.99 | 1,99 € | £ 1.99
If the total transaction amount is more than $ 50 but less than or equal to $ 200, the fee is $ 2.99 | 2,99 € | £ 2.99
Coinbase Pro Fees
Commissions on Coinbase pro are much lower than on the simple system. Prices are listed below:
$ 1- 10M - 0.18% - 0.08%
$ 10 - 50K - 0.35% - 0.35%
$ 10 -50M - 0.15% - 0.05%
$ 100 - 300M - 0.07% - 0.00%
$ 100K - 1M 0.20% - 0.10%
$ 1B + - 0.04% - 0.00%
$ 300 - 500M - 0.06% - 0.00%
$ 50 - 100K - 0.25% - 0.15%
$ 50 - 100M - 0.10% - 0.00%
$ 500M - 1B - 0.05% - 0.00%
<$ 10K - 0.50% - 0.50%
Is Coinbase Safe?
Coinbase uses a variety of security measures for account holders. It is important to understand that any crypto in any currency account is just as secure as the account holder does. It is imperative to use strong passwords and take advantage of existing security features such as two-step authentication.
Coinbase has two-step verification, biometric fingerprint logins, insurance in case Coinbase itself is breached. (This insurance is not valid in case your account is breached due to your own security measures) Also stores 98% of users' funds in offline cold wallets.
The digital currency is not considered a legal payment instrument and is therefore not supported by the SIPC or FDIC. Coinbase provides insurance by pooling Coinbase balances and holding them in USD custody accounts, USD money market funds, or liquid US Treasuries.
Coinbase provides solid security compared to a number of leading exchanges. This is one of the reasons why Coinbase is a great offer for those who want to start investing in cryptocurrency with confidence.
However, the foundation of cryptocurrency is to eliminate intermediaries as much as possible and be in complete control of your own money. While Coinbase provides an easy introduction to cryptocurrency investment, it is important to learn about proper cryptocurrency security and storage. Knowledgeable crypto investors can use Coinbase Pro for their discounted fees and then withdraw their assets to their secure cold storage.
How to Open a Coinbase Account?
Registering with Coinbase is a very simple and easy process. First, you enter your name, email and password you want to use. It will then tell you to verify your email. Coinbase then prompts you to enter your phone number to send a code you need to enter. Coinbase will then use this number to send two-step verification codes. After this step, you will be asked to enter your credentials.
Just like any bank account or investment account, you must prove your identity with the country ID. At this point, your Coinbase account will be created and you will be able to add your bank account, credit card or debit card information to enable deposits and withdrawals so you can start trading or investing later.