Coinbase Review | Why You Definitely Should Use Coinbase

Coinbase is a popular exchange platform that offers users the ability to trade a variety of cryptocurrencies. When it comes to trading fees, Coinbase charges a spot maker fee of 0.40% and a spot taker fee of 0.60%.

It should be noted that Coinbase does not offer futures trading or margin trading which is a limitation imposed by their efforts to abide by US regulations.

Overall, Coinbase's fees are higher than most well known exchanges in the market such as Kraken, Crypto.com and Okcoin. The higher trading do however come with the benefit of using a beginner friendly platform that is always one of the most secure on the market.

Coinbase offers a range of deposit methods for fiat currencies and supports three major fiat currencies: USD, EUR, and GBP.

The platform allows users to buy crypto with a credit or debit card although this comes with a transaction fee of between 1% and 5%.

Alternatively, users can also make a fiat deposit via ACH or wire transfer for (USD), SEPA (EUR), or Swift (GBP). with fees ranging from free to $10.

ACH deposits are free of charge and wire deposit comes with a fee of $10. EUR deposits with SEPA come with a small 0.15 EUR fee and SWIFT deposits are free of charge.

Well, Coinbase offers several options for users looking to cash out their funds. For US-based users, ACH withdrawals are free of charge, making it a convenient and cost-effective option. For those looking to withdraw larger amounts, wire transfers are available for a $25 USD fee.

European users can take advantage of SEPA withdrawals, which have a small withdrawal fee of 0.15 EUR. And for users outside of the US and Europe, Swift withdrawals are an option with a fee of 1GBP.

Overall, Coinbase offers a good range of deposit and withdrawal options for the major fiat currencies either free or at a low cost. This is one area where Coinbase has an advantage compared to many other exchanges on the market.

Coinbase emphasises security, transparency, and customer support as critical components of its operations.

As a public company in the United States, Coinbase operates with enhanced financial transparency. Coinbase releases its financial statements quarterly, and an independent third party conducts annual audits, as mandated by law.

In terms of asset security, Coinbase adheres to a 1:1 customer asset holding policy. This means that every unit of cryptocurrency held by a customer corresponds to a specific unit of cryptocurrency in Coinbase's storage.

Coinbase neither lends nor performs any actions with customer assets without their explicit consent. To further ensure the security of customer assets, Coinbase has designed  risk management programs which are among the most secure in the industry.

When it comes to personal information, Coinbase maintains transparency in how this data is used and why it is shared, thus offering customers a clear understanding of its privacy practices.

Furthermore, Coinbase provides a suite of security tools to protect user accounts. These tools include auto-enrolled 2-factor authentication with security key support, password protection, and multi-approval withdrawals via Coinbase Vault.

Lastly, Coinbase takes customer support seriously, offering multiple channels for assistance. Customers can contact the support team by phone or messaging to interact with a virtual assistant or, during operating hours, a live support agent. A Help Center is also available, offering quick solutions to common problems.