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Coinbase
Coinbase
USD, EUR, GBPCurrencies
USA 2017Country

Quick overview

Deposit

Credit card, Debit card, ACH Transfer, Bank wire

Withdraw

Bank wire

Address

San Francisco, USA


Coinbase is rapidly becoming the N.1 BTC exchange on crypto-market since they had add the web wallet and mobile App for iOS and Android for more comfortable use. This company operates from California and It might became dominant exchange platform of the future. It already operates exchanges of BTC, ETH, LTC and other digital assets with fiat currencies in 32 countries, and BTC transactions and storage in 190 countries worldwide.It really is a fantastic service considering how simple the process is.

Fees:

As for Coinbase, the fees payable depend on where you are located, and the payment method you have chosen to use.  For every transaction you will you initiate at Coinbase, you will pay a fee; this fee will depend on how much you are transacting.

Here is how the fees are structured at Coinbase:

  1. $0.99 for transactions adding up to $10.99, and below.
  2. $1.49 for transactions between $11.00 and $26.49.
  3. $1.99 for transactions between $26.59 and $51.99.
  4. $2.99 for transactions between $52.00 and $78.05.
  5. A flat fee of $2.99 for transaction ranging between $78.05 and $200.

For purchases above the $200 limit, a variable fee of 1.49% kicks in for standard purchase (for bank account or USD wallet). Credit card and debit card purchases will attract a rate of 3.99%.   As if that is not enough, Coinbase slaps U.S. consumers with a fee of 4% for every transaction.

Even so, for American Citizens, ACH transfers are free when depositing funds while bank transfers are $10.  However, if you withdrawal to the bank, the charges are $25.  If you are in Europe, there are zero charges when depositing funds.

Date and place of establishment: 20. June 2012, USA

Country of origin: USA

Verification:

  1. After creating an account on Coinbase you will be asked to verify your identity via:
  2. Payment verification
  3. Address verification
  4. Phone number verification
  5. ID verification
  6. They will demand access to your webcam to face match your ID

Limits:

  1. Limits depend on your account level,coinbase account age, your buying history and activity, level of verification and place of your residence.
  2. Fully verified US users - up to $50,000 worth of bitcoin daily.
  3. Level 2 users - with instant buy are able to instantly buy up to $100 worth of bitcoin per week
  4. European customers may have a maximum of €30,000 euro in their account at any time.
  5. To increase your limits you will need to verify your bank account, credit/debit card, ID.

History

Coinbase is among the leading crypto Exchanges on the market. It has an impeccable reputation, no wonder many beginners find themselves there.  The platform is more of a retail store for digital currencies as it operates differently from other platforms that follow a forex or stock Exchange model.  In short, you buy cryptocurrencies listed directly from the platform whereas in cases like for Gemini, you trade the digital currencies with other peers.

Coinbase was founded by Brian Armstrong and Fred Ehrsam, back in 2011; the cryptocurrency Exchange is based in San Francisco, California. Just to see where Coinbase is at recently, the Exchange is valued at 8 billion (as of this writing); In contrast, Brian Armstrong, Coinbase founder, is now a billionaire – with a current net worth being 1.3 billion, a notch higher from $900M earlier this year. Although it lacks advanced features that you would find in Exchanges like Coinbase Pro, a sister website to Coinbase, many people love it because they find it beginner-friendly.

Deposit method used

The payment methods accepted at Coinbase differ with your place of residence.  They accept three main methods:

  • Deposit via bank account.  This is good for both small and large amounts; the transaction takes 3-5 business days.  If you are in the U.K. or Europe, you have the SEPA transfer option while those in the U.S can use ACH?
  • Debit. This approach is instant as long as you have verified your Coinbase account. It is recommended for small investments.
  • Via wire transfer.  This method can only be used to deposit and withdrawal money to your Coinbase account; not to buy crypto.

Coinbase Pros

  • Great reputation in the industry.
  • Tight security measures for funds and user info.
  • Various digital coins listed.
  • It is beginner friendly.
  • Offers wide deposit methods.
  • High trading volume.
  • Gemini has a higher purchase limit compared to Gemini.
  • Insurance of digital coins deposited.

Coinbase Cons

  • You have to verify your account.
  • Coinbase collects user’s info while monitoring their accounts.
  • There are complaints regarding their customer support reliability and slowness.
  • Delay of funds at times.

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Coinbase
Coin rating:
Total rating: 3 Avg. rating: 4.33