Coinbase broker review

Why Choose Coinbase

    • Best way to purchase Bitcoin Instantly
    • 24/7 customer support via phone & e-mail
    • Highly secured with high liquidity
Losses can exceed deposit
Coinbase Screenshot
Trust Rating

A

Min Deposit

£

Mx.Leverage

Users

13,300,000+

HQ

San Francisco, California

Established

7+ years

Full disclosure: 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.

Spreads & Fees

Pros

+

Coinbase

Origins of Coinbase

Coinbase has marketed itself as one of the top platform for purchasing Bitcoin and cryptocurrencies today. Its transparent platform design makes it beginner friendly and has been catapulted as the go to exchange to Invest in Bitcoin. Coinbase also offers an exchange, wallet, and developer API. Having accumulated over 13 million users since its early days it is now generating daily trading volumes in excess of $300m a day. It’s one of few where you can exchange your fiat currency to Bitcoin and Ethereum.

Coinbase has become very popular in the United States as users in majority of states can purchase crypto directly via their U.S bank account. As of 9th of December 2017, Coinbase app became the most downloaded on the Apple App Store (IOS).

Key Facts

  • Users- Over 13.3million
  • Headquarter- San Francisco, USA
  • Ni. Alt coins listed-  4
  • Payment Method – Fiat GBP, USD & EUR to Crypto via Credit/Debit card or Bank transfer

 

Security & Registration

The sign-up and login function is very straightforward on Coinbase hence why it’s an attractive platform for Investors of all levels (beginner to sophisticated). It’s designed to make purchasing Bitcoin, Bitcoin Cash, Ethereum & Litecoin very easy. Follow the steps below: -

  1. Enter customary details as shown below
  2. Verify your e-mail address and then re-login
  3. After verifying you will be asked to input your mobile contact number essential for 2-step verification and for the 2 factor authentication (2FA)

For Full verification and activation of your Coinbase account you would need to upload one ID documentation (e.g. Passport in Jpeg/png format). One of the great features with Coinbase is that it instantly verifies your documentation as oppose to waiting for hours or days unlike other exchanges currently in the market. They do have a 2FA for a more secure login which we do advise any user to utilise.

 

The ‘Dashborad’ page shows you the status of fully activating your account. Once step three is completed (ID verification), step 4 you will require you linking your credit/debit card to your account. You could deposit Fiat currency to your USD, EUR or GBP wallet via your card or bank account transfer. Large deposits can be transferred via your bank account. Under the ‘Accounts’ tab you can view your wallets. As shown below, when you want to convert your Bitcoin to Fiat currency, you are given a unique wallet address to send only Bitcoin. Coinbase always warns its users to be very careful to send cryptocurrencies to the correct wallet address. It is very important to ensure the character details are correct and that is for that specific coin (this is a universal rule for all exchanges). 

 

There will be restriction of £750 weekly limit via card. The great news is that Coinbase support PayPal for users in the United States. Thousands of Coinbase users use PayPal for their fiat currency transactions around the world. Through this integration, Coinbase users can only sell BTC and have their USD funds deposited to a PayPal wallet.

 

Countries that Coinbase support

Coinbase offers its brokerage services in the United States, United Kingdom, Canada, Singapore. Coinbase also supports the following European countries listed below:

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland.

How to Operate exchange

Please note that Coinbase does not operate like a trading exchange with an orderbook of buyers and sellers. All transactions are quoted instantly. If you were to purchase Bitcoin you will be quoted the quantity of bitcoin for your Fiat currency equivalent. As shown from the below screenshot you can see the exact breakdown of your purchase of Bitcoin.

Other cryptocurrencies listed

In total there are only four cryptocurrencies listed on Coinbase Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Coinbase have admitted they will be adding more coins/tokens to their platform in 2018 and onwards. Even though there only list four currencies Coinbase is known to factor in sense of trustworthiness and reliability for users.

Customer Support

They currently offer a comprehensive section on FAQs and article to help users navigate and explain how the exchange works. You can contact agents 24/7 day 365 days via their contact telephone below. Users can submit message via online form featured on the website, and responses from the Coinbase support team are made via email.

 

Deposit, Withdrawal Methods & Transaction Fees

Transactions vary depending which country you live in. Like with many other exchanges, transaction fees are always less when using bank transfer to deposit as oppose to credit card payments.  

Payment Method

Countries

Funds Available

Currency

Fees*

Bank Transfer

USA

5-7 days**

USD

1.49%

Credit / Debit Card

USA

instant

EUR

3.99%

Credit / Debit Card

Canada

instant

CAD

3.99%

SEPA Transfer

Europe

1-3 days

EUR

1.49%

Credit / Debit Card

Europe

instant

EUR

3.99%

Credit / Debit Card

UK

instant

GBP

3.99%

Xfers Transfer

Singapore

instant

SGD

1.49%

Credit / Debit Card

Australia

instant

AUD

3.99%

*Actual deposit of currencies into your Coinbase account is free. Coinbase then charges a 1.49% fee per purchase

**U.S. customers may add a Visa or Mastercard credit card as a backup payment method. If a backup credit card is available, Coinbase “instant buy” will be enabled for up to $1,000 worth of bitcoin per week

Why Choose Coinbase?

  • Beginner user friendly and offers best way to purchase Bitcoin Instantly
  • 24/7 customer support via phone & e-mail
  • Platform is highly secured and has high liquidity

 

Cons

-
Full disclosure: 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.

Spread vs Trader Style

  • Scalping
  • Intraday Trading- <10 Trades
  • Intraday Trading- 10+ Trades
  • Swing Trading
  • Long Term Trading
Coinbase
XTB
Plus 500
Overall Trust Score AAA-
Years Established 7+ 16+ 10+
Regulatory Authority ]FCACysec,FCA
Why Choose?
  • Best way to purchase Bitcoin Instantly
  • 24/7 customer support via phone & e-mail
  • Highly secured with high liquidity
  • 5-star Rating on Trust Pilot
  • Client funds in segregated accounts
  • Competitive Fixed & Variable Spreads
  • Professional Webtrading Platform
  • Highest Rated CFD Trading App 
  • Listed on UK FTSE 250 Index

Trading Platforms

Platforms Offered

  • WebTrader
  • MetaTrader 4
  • MetaTrader 5
  • Android App & Tablets
  • cTrader
  • Apple App & Tablets

Account Types Offered


Demo Micro Standard VIP Islamic Zero Spread Managed
Full disclosure: 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.

Deposit & Withdrawal

Deposit Methods

  • Visa Debit
  • Visa Credit
  • MasterCard
  • American Express
  • Skrill
  • Neteller
  • Bank Transfer
  • Maestro
  • WebMoney
  • Paypal
  • Delta
  • Diners Club
  • Switch
  • Western Union

Customer Support


25 Languages

Email

Phone

24/5 Support

What so unique unique about Coinbase?

Unique Features

  • Guaranteed Stop Order
  • Limit Orders
  • One-Click Trading
  • Additional Education
  • Trailing Stops
  • Negative Balance Protection
  • Account Verification (Identity)
  • Scalping
  • Hedging
  • Bonuses Offered

The Verdict


Full disclosure: 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.