Coinbase Review Summary Coinbase is the one of the biggest cryptocurrency companies around, supporting 42 countries, with more than 20 million customers around the world.
Founded in 2012 by Brian Armstrong and Fred Ehrsam as part of Ycombinator, Coinbase is one of the oldest exchanges around. Coinbase has started out only as a Bitcoin brokerage service (selling Bitcoins directly to customers), but additional services were added along the way. Coinbase is fully regulated and licensed. The company has raised over $400m from leading investors such as Andreessen Horowitz, Rabbit Capital and The NYSE.
The main service Coinbase offers is a brokerage service for buying and selling cryptocurrencies. New cryptocurrency users often find themselves buying their first Bitcoin through Coinbase thanks to the company’s reputation, marketing and relatively friendly user interface. On the downside, one of the main complaints users have towards Coinbase is the lack of control of users over their own funds. When you open a Coinbase account you don’t have direct access to your coins and you don’t get any private key or a seed phrase. Coinbase stores your coins for you – It’s the equivalent of putting your cash at the bank, you don’t own it, the bank does.
In 2018 Coinbase launched their independant mobile wallet for iOS and Android. The wallet stores the private keys on the user’s device and only they have access to the funds. This brings Coinbase full circle as it started out as a wallet, transitioned to an exchange only (claiming that they are not a wallet) and now they are offering wallet services again.
Coinbase supports the following coins: Bitcoin (BTC) Ethereum (ETH) Ripple (XRP) Litecoin (LTC) Bitcoin Cash (BCH) EOS (EOS) Stellar Lumens (XLM) Ethereum Classic (ETC) Zcash (ZEC) Augor (REP) Dai (DAI) USD Coin (USDC) 0x (ZRX) Basic Attention Token (BAT)
Coinbase accepts the following payment methods: Wire transfer (including ACH in the US and SEPA in the EU) Credit cards (new cards aren’t currently accepted) Debit cards PayPal (withdrawal only)
Coinbase’s fee structure is a bit tricky so I’ll try to break it down as much as possible. When you buy Bitcoins from Coinbase the price you pay consists of the following: The market price on Coinbase Pro +0.5% Transaction fee – A flat fee for transactions below $200 or a percentage of the transaction (the greater of the two). Most transaction fees are 1.49% for standard buy and 3.99% for credit card buys. Depositing money is free via ACH transfer but otherwise costs $10.
Coinbase offers its services in 103 countries: Angola, Benin, Botswana, Cameroon, Ghana , Kenya, Mauritius, Namibia, Rwanda, South Africa, Tunisia, Uganda, Zambia, Armenia, Bahrain, Brunei Darussalam, Hong Kong, India, Indonesia, Jordan, Kazakhstan, Korea, Kuwait, Kyrgyzstan, Macao, Maldives, Mongolia, Nepal, Oman, Philippines, Singapore, Taiwan, Uzbekistan, Australia, New Zealand, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Aruba, Bahamas, Barbados, Bermuda, Canada, Cayman Islands, Costa Rica, Curaçao, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicaragua, Panama, Trinidad and Tobago, United States, British Virgin Islands ,Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay.
Cryptonator is a web-based cryptocurrency wallet that encrypts the user data online; whilst providing you the access to the funds they control on your behalf. This web wallet is available for Android, iOS, OSX, Windows, Chrome, Firefox.
The good bits about this wallet are:
It gives you multiple cryptos at the loss of handing over control of your funds to the third party
Your account is all about anonymity, privacy, and bank-grade security.
The wallet platform claims to implement all possible measures to secure your funds.
All the services run completely over secure SSL (HTTPS) connection.
The critical user data is hashed by the SHA-256 cryptographic algorithm.
Two-factor authentication and One-Time-Passwords adds an extra security to your account.
Direct transactions with an immediate exchange between different currencies.
This wallet is accessible 24/7 worldwide on the web, desktop or mobile devices alike.
The official site claims to have 1 million active accounts, supports 17x currencies with 80 million transactions that are already processed.
Cryptocurrencies Supported (BTC)(ETH)(LTC)(XRP)(BCH)(DOGE)(ZEC)(PPC)(BLK)(XPM)(DSH)(EMC)
Traditional Currencies Supported (USD) (EUR) (RUB) (UAH)
Languages Supported English, German, Spanish, French, Russian.
Minimum Deposit, Withdrawal and Exchange Amounts
Their accounting system does not process the transactions below the minimums.