cryptocurrency exhange review

Coinbase Review

Bitcoin exchange Coinbase

General Statistics

  • 13.3 Milion users.
  • 62 Million Visiters to coinbase in November
  • Over 50% of users are located in the United States
  • Created in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is the worlds largest Exchange
  • Pesence in 32 countries  –  USA, CAN, UK, and Brazil represent their largest customer base.

The surging popularity of Bitcoin has been paralled with a massive increase of customer usage at Coinbase. According to a search on Alexa.com, the Coinbase website ranks as the 496th most visited site on the planet as of the time of this review (Dec-2017).

General Statistics

  • 13.3 Milion users.
  • 62 Million Visiters to coinbase in November
  • Over 50% of users are located in the United States
  • Created in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is the worlds largest Exchange
  • Pesence in 32 countries  –  USA, CAN, UK, and Brazil represent their largest customer base.

The surging popularity of Bitcoin has been paralled with a massive increase of customer usage at Coinbase. According to a search on Alexa.com, the Coinbase website ranks as the 496th most visited site on the planet as of the time of this review (Dec-2017).

The advantages

  • Available in multiple geographic locations and an option for many different Government currencies
  • Once your account has verified you can buy up to 100 usd worth of Bitcoins each week using your credit card.
  • The weekly limit can be raised Immediatley to $250 USD per week and caps out at $1000per week after a 30 day verification period.
  • It is also possible to directly purchase several other Cryptocurrency types. (Many exchanges are limited to Bitcoin or very few others)
  • Two types of wallets are available:
    1. The first is really simple and made so that beginners can store their coins with peace of mind (wallet key security is managed by Coinbase).
    2. The second is called Multisig Vault and uses the “multi-signature” innovation which allows advanced users to self-manage security for their wallet keys. What does this mean? Well simply put: if Coinbase were to disappear then these users would still have control over their bitcoin. For those asking is Coinbase safe, this should partially answer your question.
  • All deposits are insured. There are strict guidlines for this so we suggest that you take a look at their policies.  Always use a long and unique password because if this gets cracked or stolen it is not covered by their insurance.
  • Sending cryptocurrency to other users wallets on or off of Coinbase the platform is easy and fast. Coinbase also allows users to do off-chain transactions to users within the coinbase platform.
  • The site made Bitcoin sales via a connected PayPal account available to US users in 2016, and intends to add this feature to European users.
  • It is possible to link a credit card, called Shift Card, to your account and then pay for daily purchases using your Coinbase balance. The system simply converts the coins into usd at the going rate at time of purchase. This feature is not yet available outside of the United States.
  • Coinbase interface makes it one of the best places for new users and beginners to get their first bitcoins. The company receives so many recommendations owing to the fact that large investments were made to guarantee an impeccable user interface (UI) and experience (UX).. The smartphone app for android and iOS is convenient as easy to navigate.
  • Some of the largest Coinbase investors include BBVA, NYSE, and Andreessen Horowitz.

The Disadvantages

  • Some customers get flagged, for security purposes, and subsequently accounts can be temporarily frozen. Extra vetting fixes this issue.
  • In Reddit Forums some customer issues have gone un-answered for over 24hours. Tweeting @CoinbaseSupport (on twitter) usually gets an answer within the hour.
  • There are reports suggesting your coins may be tracked after withdrawing from the exchange. This is true of every Exchange. The reality is that Bitcoin, although still outside of Government control is not at all a vehicle for total Anonimityas was once infered by early participants.
  • Because of the massive transaction volume that Coinbase does, there are sometimes disruptions to its service. These are brief in length but can cause an excited buyer to miss a chance to buy during a dip.
You may have arrived here being uncertain about which exchange is best for you. Are they all reliable and safe? In short, yes, all the exchanges will do what they say they will do… which is convert government currency into Bitcoin or Altcoins. No Exchange is 100% unhackable, they are, in fact, the weakest link for storing your Bitcoin investment. This is why we recommend that you do not leave your Bitcoin purchases in the wallet of any exchange. Instead, move your coin in a wallet which you are in control of the private keys. With that in mind try it out.