Coinbase

Name: Coinbase
Rating: 4.2

4.2

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127 User Reviews

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4.2

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127 User Reviews

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The Good

The Bad

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Author: Kaitlyn Short

LAST UPDATED: September 10th, 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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User Reviews

Star Rating

4.2

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127 Reviews

Review Breakdown

5 grade

57%

4 grade

18%

3 grade

15%

2 grade

1 grade

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Joseph Germello Lock Haven, PA

A great way to invest and earn money with cryptocurrencies. There are dozens of cryptocurrencies to use. Theres a learn and earn to learn and earn cash. Converting and cash out is easy and quick deposits. I've been using Coinbase for several years. Everyone will have a different experience and outcome depending on how much money is invested and also the market. I highly recommend. All monies are now taxable. The app and website are intuitive are user friendly.

2 years ago

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Marlen Peek Woodridge, IL

As a newbie to Crypto Coinbase is very easy to setup quickly and use to purchase and sell crypto with ease. I really like the informational articles you can read to increase your knowledge of various crypto currencies and that in some cases you can receive a small amount of crypto just for readying them. Coinbase is a simple yet powerful site to use.

2 years ago

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Orsion Gainesville, FL

One of my Favorite Crypto Platforms. Easy to use and I love the Coinbase Debit Card. I use that thing to pay all my bills. I use the cash back I get with the debit card to get whatever crypto I want by converting it. Coinbase Fees are a little high but it's a great platform for any beginner crypto investor. Thanks Coinbase for making easy to get started!

2 years ago

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HO1 Charles Town, WV

No doubt about it, Coinbase makes it easier than other platforms for individuals to purchase cryptocurrency using fiat via a credit card or bank account (using bank account is cheaper). They also have the best educational materials, and they make it very easy to send crypto to other wallets. The only downsides I have seen is that their process is very different for a business than it is for an individual. The ease of establishing an account goes away if you try to open an account as a business.

2 years 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.

2 years 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.

2 years ago

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Michfan Oklahoma City, OK

I like Coinbase all the way around. I just wish it was easier to navigate to their wallet from Coinbase app than it is. Ease of use, fees are good, just learn them so you know what and when to do something, and just super easy to set up to personalize to yourself.

2 years ago

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Domonick Montrees Greenfield, OH

Well u can do it all in one app well 2 they have a wallet app also for better intrest/apr. For what ur holding with them. U can learn an Eren little play stocks an easy to use app . An pro dosent cost much expecaly if u know or figure it out.

2 years ago

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Bao Chau Tran Seattle, WA

I use Coinbase app to buy some Crypto currency. I have enjoyed the app and the company so far. They have this nice Learn and Earn feature where I can earn money while I learn about Crypto currency. The money I earned I can trade it into buy more Crypto currency of my choose.

2 years ago

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Jesse Frazier Baton Rouge, LA

Coinbase has been around for a while and they have come a long way. Coinbase is the platform I put all of my trust in when it comes to crypto. They're fast, easy to use, convenient, pretty safe and they have their own Hot Wallet which easily transfer coins to and from their exchange.

2 years ago

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Nathea Celeste Akeo Los Angeles, CA

I'm new to cryptocurrency. I went on a few sites to try and buy bitcoin. Well let me tell you, if your new to this, it's not easy. Most of the sites was a little confusing. I didn't know how or where to start. But at Coinbase, it was really easy. It was start forward. Not to complicated at all. Of all the digital wallet sites, I choose Coinbase.

2 years ago

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Nichole Fontana New Port Richey, FL

I saw an advertisement on my TextNow app and decided to click on it and download it right away. I only got as far as reading up on the history and logistics of how Bitcoin actually works and fluctuates in the market. I've yet to actually do any buying or selling on it as of yet. The breakdown of the Bitcoin was very informative and easy to understand

2 years ago

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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.

2 years 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.

2 years ago Edited January 19, 2022

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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 years 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.

2 years ago Edited January 5, 2022

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Daniel Cebrero Las Vegas, NV

One of the easiest apps to get into cryptocurrency with. It’s simple interface makes it easy to buy and sell coins. Its easy to link bank account or cards to and start buying right away. It’s one of the most popular sites to buy for a reason and I have recommended it to everyone that wants to get into crypto.

2 years ago Edited January 28, 2022

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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.

2 years 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 $.

2 years ago Edited January 3, 2022

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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.

3 years ago

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Jewelleah Kempers Las Vegas, NV

Coinbase! Well, I am very disgruntled at this company to say the least. They started off as a great company that I loved! I used coinbase as my first choice for most of my cryptocurrency buying and investing. My favorite thing was the learn and earn feature they offer whenever they introduce a new crypto coin to their list of available currencies you can buy on their platform. The lessons were essential knowledge that every crypto investor would want to know and the payouts were generous! Up to $10 for just 3 to 9 minutes of time! And so I bought many different coins on coinbase for several years. Until my 2nd favorite feature, the TRADE feature one day just STOPPED WORKING. I could no longer trade any of my coins or convert them into other coins. It has been over a year and this problem is still unresolved. I am saddened and frustrated by their overall LACK OF CUSTOMER SERVICE.

2 years ago

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Joshua Richmond Lexington, KY

Really neat to learn about crypto and get paid in that crypto you just learned about. However, they charge a $1 withdraw fee, which after you learned about crypto to earn $4, they will take $1 to let you keep the other 3. Again, not terrible, but it only just recently started collecting transaction fees and it made me delete the app and stop using Coinbase. Honestly Robinhood is just better, Coinbase's only bet to beat Robinhood out, was to earn while investing and learning, but with that transaction fee, it just does what Robinhood does but a little worse

2 years ago

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Angel Palacios Seattle, WA

My experience has been awesome with Coinbase I've received my card which allows me to have my direct deposits and cash out in my hand at just about any atm with my choice of any crypto from Coinbase.

2 years ago

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Angel Dragneel Beaumont, TX

pretty easy to figure out once you get the hang of it. i like that they often have times you can read a few things and take a quiz and get paid for it it. i have had no problems with them so far.

2 years ago

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amy gibb

I’ve used coinbase for about a year now and it’s been an awesome experience I feel safe with my money in coinbase it’s easy to understand and to navigate the app. Thank u coinbase

2 years ago

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kendra neace Venice, FL

Decided to invest in myself and started with coinbase. I will say the app has improved alot! They always have someone there to help if needed. I've been w coinage for a lil over a year and no problems. Happy customer here

2 years ago

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Tychelle Rudolph

Coinbase was a very good site. I was able to understand everything, and I had no idea what I was doing from the start. I would recommend this site to anyone who is trying to start investing in Crypto! Thank you CoinBase!

2 years ago

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Megan Union, NJ

Absolutely love the ease with which I can search for stocks/cryptocurrencies. I also love the learning modules! So far my only con for Coinbase is that sometimes there is a malfunction with the free crypto reward that users are supposed to get upon signing up with a referral link.

2 years ago

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Nursing for patients Tulsa, OK

Easy to navigate, and user friendly. The wallet is not that great and a pain at times. I like just plain Coinbase and it is nice that they have a debit card and earn Bitcoin on every transaction. The learn and earn is a great way to earn a little it of crypto and understand that coin.

2 years ago

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Janice M San Jose, CA

Purchased bitcoin through them a couple years ago to hold long term. They have a good security system set up. I feel totally comfortable with them and of course I'm happy with bitcoin's performance!

2 years ago

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Keerthana Manivannan Santa Clara, CA

Coinbase crashed recently so I'm a little less happy about the company right now. But other than that, I'm overall happy with the app/website. They have a Coinbase Pro which is basically free for basic Coinbase account holders but Coinbase Pro has way lesser fees for a transaction. I didn't know about this little trick when I initially bought crypto in Coinbase. I could have saved couple hundred bucks if I had known this earlier.

2 years ago

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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 years 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!

2 years ago Edited January 5, 2022

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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.

2 years ago Edited January 3, 2022

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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 .

2 years 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.

3 years ago

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Kevin Peterson Orlando, FL

Used coinbase for several years and was always pleased with every transaction. Never any issues with security or speed in which transactions took to close.

2 years ago

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Steven Seabeck Akron, OH

I personally like Coinbase because they are very helpful in educating me on crypto currencies expansion and growth and the many ways it can help you investing in long term financial stability

2 years ago

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Jacqui Bopp Duncannon, PA

Found Coinbase on accident and it's been a happy accident. !. Learning ,earning and .investing.. . I know.nothing about crypto but Coinbase is very simple to use and understand

2 years 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.

2 years 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.

2 years 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.

2 years 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.

3 years ago Edited September 14, 2021

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Charles Cheek Miami, FL

Coinbase is a decent crypto company but there's a way to buy your coin without paying the big percentage when buying from your checking account. You can deposit to your wallet from a Rocket coin ATM for only $1 per deposit.

2 years ago

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Josh Hughes Denver, CO

I've used it to transfer money to purchase crypto. It was relatively easy to navigate. There could have been more help in understanding how to use the platform.

2 years ago

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MY Woodmere, NY

its easy enough, I think i didn't have a proper grasp of how currency's worked when i signed up and treated it like a robinhood account. I lost a fair amount but now its useful for dabbeling in crypto

2 years ago

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Thomas Dennis Philadelphia, PA

Thanks you for helping me get my coin so I can get food and pay my bills and church I save all my coins to help the poor at my church

2 years ago

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Rebekah Cothren Fleetwood, NC

I’m very disappointed in this company!! I signed up for it because it is so popular. But I wish I hadn’t! They just tied up my money for an incredibly long time and they took the art of small print to serious heights! I will never recommend them! I got my money out the minute I could and closed my account.

2 years ago

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Miguel Suarez Los Angeles, CA

I really did not find any use of this company, the application is very easy to use. It gives you the chance to create a wallet with the same company to keep your crypto currency

2 years ago

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SHARON BROWN Philadelphia, PA

I recommend coinbase for your cryptocurrency purchases customer service is great if you have an issue they will answer and help correct it right away

2 years ago