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Coinbase

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46 User Reviews
LAST UPDATED: January 25th, 2022

Coinbase is a mission-driven cryptocurrency company based in San Francisco, California. With nearly a decade of experience connecting buyers, sellers, and traders in the brave new world of cryptocurrency exchange, Coinbase has an impressive track history in building value for customers, generating more than $500 million in funding and processing over $2 billion in revenue. The company’s ambitions include creating an open global financial system, and appears to be well on the way to doing so.

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The Good

  • User-Friendly Platform
  • Convenient Purchasing 
  • Security and Insurance

User-Friendly Platform

Coinbase’s online platform is easy to navigate. There is an in-depth FAQ page with extensive information about digital currencies, trading, and other topics. For customers who are digital currency beginners, it is a good option to become familiar with buying and trading, so taking advantage of CoinBase’s educational materials will be useful to you. There is also an online chat for further questions, and the company has good reviews for customer service, which adds to the overall beneficial user experience. 

Convenient Purchasing

Coinbase allows customers to sync up bank accounts for ease of purchasing digital currency. U.S. customers can also use debit or wire transfers, depending on the size of transaction; and international customers outside the United States are unable to use bank or wire options. Unfortunately, platforms like Paypal, Venmo, CashApp, and others are not accessible for purchasing, which may limit some customers in any location.

Security and Insurance

Coinbase provides industry leading security as well as insurance. The insurance only covers funds they are holding in case of a security breach or if the company is hacked. This does not cover customers’ own digital currency if a password is lost or forgotten. 

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The Bad

  • Waiting Period for Funds Transfer
  • Limited Cryptocurrencies
  • High Transaction Fees

Waiting Period for Funds Transfer

In order to avoid fraud, there is a three to five day waiting period to make sure funds clear when purchasing digital currency. For those looking to trade digital currency, this waiting period can be problematic. 

Limited Cryptocurrencies

There are new cryptocurrencies popping up all the time. Coinbase only supports about 40 right now, and there are at least 4,000 available. For customers wishing to connect to the larger database of options, Coinbase may not be extensive enough for this approach. However, for beginners or customers focused on specific options that Coinbase does offer, this may not be an issue. On the other hand, Gemini and eToro don’t offer as many as Coinbase does, so this may reflect more on the industry progress than on failures within the company.

High Transaction Fees 

Coinbase has a schedule of fees, starting at $.99 per transaction under $10 and this raises incrementally to $2.99 to transactions between $50 and $200. Coinbase also charges a spread of about one-half of one percent (0.50%) for cryptocurrency purchases and cryptocurrency sales (this spread can vary depending on market fluctuation). Other providers may have a different set of fees that are more preferable for customers. For example Kraken offers slightly lower fees, especially at lower volumes.

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The Bottom Line

Coinbase is a solid option for new or advanced buyers in the cryptocurrency market. Particularly for customers who don’t mind paying a little higher fees in order to access an easy-to-use platform that is well supported, Coinbase meets if not exceeds industry norms. Protections such as insurance, security, and customer support are in place, as well as educational materials to help newbies navigate the unknowns of the cryptocurrency market. It’s as good as any of the other platforms, for getting started or making a splash investing in this space. 

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Star Rating

4.6

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46 Reviews

Review Breakdown

5 grade

74%

4 grade

15%

3 grade

7%

2 grade

0%

1 grade

4%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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FlowerPower Mesa, AZ

The first place I started my crypto journey 4 years ago. Still my go-to place (Coinbase Pro). If it's not DeFi it's Coinbase Pro for me. Easy to set up an account. Easy to get around. Fees are not too bad, and I trust the people behind.

5 days ago

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Ryan Vett Phoenix, AZ

I’ve been using Coinbase for over 5 years and never had an issues. I use it to convert my mining profits to USD, they have low fees and cashing out is quite fast. Any time I’ve had trouble their support was super friendly and fixed the problem expediently.

1 week ago

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Erinmarie Xian Seffner, FL

Coinbase is my first foray into Crypto. I found their platform to be extremely user friendly. I now own multiple coins (not FULL coins unfortunately) and I'm always reading their hints and gathering info on new coins. Its also easy to sell, trade, buy and cashout coins. Transfers to and from bank accounts can be done once or set up on auto mode. Very secure - requires multiple points of entry. Highly recommended.

3 weeks ago

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Thomas Nuffer Lindon, UT

I dont use this much, but it is very good to recieve and send crypto to others, I mine bitcoin and this is the best and easiest software to use. You can directly link to some mining softwares if you want, but it has a wallet number for all of your wallets. So you can send and receieve bitcoin the same way everybody else does. When you sell crypto it dosen't take long to reach your bank or card, and the fees are very small. It definitely is the easiest way to get into crypto. And it has a very good UI.

4 weeks ago

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Mickey Ross Kennesaw, GA

I have not had any issues with Coinbase other than some past experiences of login problems. While I understand it is extremely important to have an additional level of security, I find it is scary to know that if you lose the 10 word phrase, you are SOL.

1 day ago

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Austin Tempe, AZ

Never had any issues with Coinbase. All my trades have gone effortlessly and I would recommend this platform to anyone looking to do Crypto trading. As always do your research and ensure this platform has all the offers and features you are looking for.

2 weeks ago

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Bradley Baer Philadelphia, PA

Coinbase is a well-designed platform for trading. I love the ability to get free crypto by doing training tutorials. The App is particularly user-friendly and really does provide a transparent snapshot of holdings and trends.

3 weeks ago

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Daniel Cebrero Henderson, NV

I’ve been a user since day one and I love how easy their app is to use. Everything is displayed nicely and the transactions are easy to make. I’ve bought all my cryptocurrency from this app and I’ve recommended many people onto it

3 weeks ago

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Joe Leahy Marshfield, MA

I have had an account with Coinbase for about 4 years.I have done numerous buys sells and trades with them without 1 problem.The App makes all of your account info instantly available in an easy to read and follow format. I highly recommend them.

3 weeks ago

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Cam Hall Palmyra, VA

I used Coinbase to start getting into Dogecoin and Bitcoin, and have since dipped into ETH and understanding more about NFTs. I feel safe using Coinbase while you hear about other exchanges being hacked, shut down, or turning off the ability to buy/sell (ex. Robinhood with Dogecoin). I think Coinbase has the most trustworthy system for my money, and they offer enough context that I don't feel like it only exists to take my money. I have ~$5k invested using Coinbase, and feel secure with my $.

4 weeks ago

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JE

I previously used robinhood and then switched to coinbase. Although coinbase charges fees, I understand that they are a business and need to make money somehow. The fees are reasonable and I will continue using coinbase.

2 weeks ago

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David Swenson Commerce City, CO

Downloaded the app a few months ago. I’ve enjoyed exploring the world of crypto trading with their intuitive app. It made purchasing and selling a variety of different currencies really easy!

3 weeks ago

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Rick Froid Park Ridge, IL

Big fan of Coinbase. Very easy to apply and offers great info on all the coins. I especially like how it keeps a good portfolio of my holdings and keeps me updated on how I’m doing.

4 weeks ago

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J B Sandy, UT

I've been of COinbase for a few years. They offer a full spectrum of crypto trading tools on an easy to use interface.

6 days ago

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Luke Swierczynski Waterford, MI

Simple, and easy to use wallet. Easy to trade and keep track of your crypto. Feels more secure form the other providers that you seem to read about massive hacks daily.

3 weeks ago

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James Moss Knoxville, IA

Coinbase is easy to use, and they give away free cryptocurrency. I have used it to buy and sell, also I have cashed out. I would recommend it to anyone interested in Crypto.

4 weeks ago

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Kpositive Reckord Jacksonville, FL

The app is user friendly a bit annoying to start up and link your bank account to fund Coin base but it is easier after verification and the entire account is set up easy to understand and see your profile .

1 month ago

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suzanna Brooklyn, NY

I am very happy with this company. So far so good. Excellent customer service. Trust worthy app.

2 days ago

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dana jones Chattanooga, TN

Awesome company. The customer service reps are very professional and knowledgeable.

1 week ago

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Alicia Gonzales Warrenton, VA

I was an early user of coinbase and I think it’s a very intuitive software and has a simple interface

1 week ago

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Lyn Okemos, MI

I was actually happy with Coinbase and really liked their learning opportunities and incentives. My account was hacked and I was not able to talk to a person about concerns I had. I had to change all my passwords and open a new bank account. I would have been content to chat or have an email exchange about this, but it was not available. Now I am afraid to enter their site again.

2 weeks ago

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Erik Lewis Minneapolis, MN

I used their android app to purchase Ethereum based on a friends advice. The process was easy and the website was simple to use.

2 weeks ago

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Fernando

I love this site. I trade my currency then I sit back and watch my balance build. It gives me alerts when new currency is added.

3 weeks ago

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Michael Leslie Flint, MI

I just got into crypto currency exchange and I choose Coinbase to do it. I really like earning coins as I learn about them.

4 weeks ago

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Brandon Berwyn, IL

Plenty cryptocurrency sites out there. Coinbase is pretty easy to navigate and I'd recommend for non tech-savy individuals.

3 weeks ago

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T M Fort Worth, TX

Instructions very easy to understand. Customer Service is amazing if you have any questions. Best method with Crypto

4 weeks ago

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Samarra Miller Fort Lauderdale, FL

Coinbase is good it's easy to learn the app. Customer service will even help when you get in a jam.

4 weeks ago

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Darryl Shelmire Long Beach, CA

I've used coinbase for over a year now, I like how there are flat fees for the purchase and selling of your crypto.

4 weeks ago

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Christina Cranshaw Needles, CA

Im giving them no stars if thats possible. They take money from your bank account with out authorization. Ive never been able to authenticate on their website so they wont give me access to the money they stole from me. They have no phone support what so ever. Ive sent close to 20 emails and trouble tickets to them over the last year trying to gain access to my account or recieve a refund of the $100+ of mine that they have. All I get is system email from them saying someone will contact me but they never follow through. Avoid this company if you like your money.

1 month ago

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DM DM Warrington, PA

I love their app! It allowed me access to Bitcoin and have not had issues.

1 week ago

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Will Mo Saint Clair Shores, MI

Coinbase is FDIC insured!! Literally just like putting your money in a bank with a $250 k limit.

4 weeks ago

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Bulldog Clinton, IL

Learning experience have ways to earn crypto. Coinbase helps shows you ways to earn crypto currency

4 weeks ago

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David Stickles West Jordan, UT

Awesome platform that allows people new to crypto to get into the game. They also will give you real crypto for learning about the different coins and options.

4 months ago

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Ken

Best app for earning as well as saving money. Handy and commendable for others!

3 weeks ago

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Mike Joyce Renton, WA

Great I use this on a daily basis. I’ve always enjoyed using there easy systems.

1 month ago

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tommy melvin Richmond, VA

Fairly easy to use. Not always easy to transfer some crypto. Not all crypto available. Good base use though.

1 month ago

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TTeep Smithfield, UT

I use coinbase and it's an okay company. I wish their fees were a little lower to make investing more likely. It seems that not only do I pay high fees, but it seems that I'm always paying slightly more than the current price for coins.

5 months ago

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Tiffany I Gaithersburg, MD

Coinbase had the best coins to offer. I’m definitely waiting on a couple of my favorites to be added but still my favorite app. I feel secure that my cryptos are safe and their fees are decent compared to other sites.

8 months ago

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Luke

Excellent tool to learn about crypto currency

2 weeks ago

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Mohamed Attia Springfield, VA

i love coinbase except the fees are high. also coinbase wallet has ridiculous fees

4 weeks ago

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Laurie Carter Concord, NC

Fairly painless experience getting set up on coinbase.

2 weeks ago

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Sally Gaines Miami, FL

Very user friendly. I have earned and learned about stocks.

1 month ago

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Momo Oviedo, FL

Great information on the app. Very clear easy to understand

1 month ago

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Jamie

Easy do use. And can get you into crypto

1 month ago

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Palak Singla Muktsar, PB

It is really easy to use and offers a good assistance.

1 month ago

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Jarrett Ingram Newport News, VA

Very simple app to buy crypto-the only place I've ever bought crypto from, and probably will be the only platform I ever use.

8 months ago