Coinbase is one of the biggest cryptocurrency exchanges in the world with unparalleled trading volume and a long-standing reputation for industry-leading security.

It’s simply one of the best ways to buy Bitcoin and numerous other cryptocurrencies. Based in the United States — San Francisco to be specific — Coinbase has been in operation since 2012 making them one of the earliest adopters and providers of various cryptocurrency-related products. It’s one of the most regulated exchanges in the world and was the first exchange to IPO in early 2021.

Over the years the company has entered into partnerships with a variety of mainstream companies such as Dell, Overstock, Time Inc, which helped solidify them as one of the most trusted organizations in the cryptocurrency community.

​Coinbase Overview

Coinbase Pros & Cons

Setting up a Coinbase Exchange Account

Step 1: Create Your Coinbase Account

The first step is to create a Coinbase account by providing basic identity information:

• First Name
  
• Last Name
  
• Email Account
  
• Creating a secure password
  
• Confirming you are 18 years of age or older

Step 2: Verifying Your Email Address

Coinbase will send an email to your account and require email verification.

Step 3: Add a Phone Number

You must add a phone number immediately after validating your email address.

Providing a phone number is required for a 2-step verification. Coinbase will text a 7 digit verification code to your mobile device.

Step 4: Providing Personal Information and Selecting a Payment Method

There’s a little bit of processing time but you should be able to purchase Bitcoin and other cryptocurrencies from Coinbase as soon as you complete the aforementioned steps.

Funding Methods

​Coinbase Software

It is extremely easy to set up a free account on OKX, just follow these steps:

Is Coinbase Safe?

Yes. Coinbase is one of the biggest cryptocurrency exchanges in the world and has a sterling reputation for security. Perhaps most importantly the exchange keeps nearly 99% of its users’ digital assets in offline cold storage.

Coinbase also requires that you validate a phone number by entering a code they send you through a text message. After validating your phone number, it is recommended you set up a more secure 2FA (two-factor authentication) method. Direct text message 2FA is not as secure as they can be hijacked by hackers while your text is in transit.

Coinbase has mandatory two-factor authentication (2FA) on your account, to ensure that your account remains secure. There are other ways to further enhance your Coinbase account security. With security, more is typically better, so you may as well take advantage of all the security features that Coinbase offers.

Upon deleting your account, Coinbase has provided you with the ability to request the information you gave to them in the first place. You can also request that Coinbase deletes the information from their servers. With privacy being a large concern in the lives of individuals, Coinbase gets brownie points for properly handling, and discarding your personal information if that’s something you would like them to do.

Coinbase was the first US crypto exchange to successfully IPO (you can find Coinbase under the COIN ticker) and it’s therefore one of the most regulated exchanges in history.

Are Coinbase Fees High?

​What Can You Buy on Coinbase?

​Coinbase Features

​Coinbase Ease of Use

When it comes to the user experience, Coinbase is well-designed for beginners and, as such, boasts an intuitive interface that is easy to navigate without complicated options. The dashboard is elegant and features a navigation bar on the left that provides quick links to the exchange's main features. In addition, Coinbase's users can customize the home page to show their favorite coins on a watchlist to monitor the prices quickly (not offered on Binance for example).

Importantly, buying and selling crypto with Coinbase is simple. Users can enter the amount of fiat currency to spend, review the order, and place a buy/sell order with the connected bank account, debit card, or other payment type linked to the Coinbase account. Combined, the straightforward purchasing options make Coinbase an excellent platform for beginners looking for a user-friendly platform to buy crypto.

​Coinbase Mobile App

Coinbase offers one of the best crypto apps for Android and iOS devices. Like the website app, the Coinbase mobile app offers streamlined functionality, enabling everyday investors to buy and sell crypto easily. Based on 179,000 customer reviews and over 10 Million downloads at the time of writing, the Coinbase IOS app has an excellent rating of 4.6/5.0, which indicates its high reliability and reputation.

To ensure that our Coinbase review is as accurate as possible, we installed and trialed the Coinbase app. After playing around, we found the app simple, elegant, and very responsive, which is ideal for beginners.

Initially, users are met with a screen containing quick links to services like buying/selling, the Coinbase card, and the earning platform. Next, investors can find the price of assets just below the quick links. Finally, the trade screen features only the essentials, allowing users to view a basic chart and some information related to the asset.

​Customer Support

Coinbase has worked to improve its customer support over the past few months. For those that may require support, there is phone support, 24/7 live chat, and a ticketing system. In short, there is a good variety of support methods for beginners. We found the support team to be generally responsive and work to get issues resolved as soon as possible. However, some other users have reported lackluster responses from support, indicating that there is still room for improvement.

​Coinbase Security: Safe To Use?

Coinbase is one of the safest places to buy and store digital assets using their online wallet. The exchange features 'bank-like' security measures to ensure customer funds and personal information are kept safe at all times. Two-factor authentication (2FA) is a requirement when setting up a Coinbase account. Furthermore, Coinbase offers resources detailing the best practices for users looking to secure their accounts.

Based on our research, while the platform itself hasn’t been compromised, Coinbase did previously reveal that over 6,000 customer accounts had been compromised by hackers. Thankfully, Coinbase carries theft insurance meaning that US investors should always be made whole when losing money through no fault of their own.

Frequently Asked Questions

Final Verdict and Score

Coinbase is a reputable exchange in the US that enables users to buy and sell crypto without any fuss. The streamlined app also makes it an excellent choice to manage a cryptocurrency portfolio effortlessly. With a great selection of 241 coins to invest in and multiple payment methods, we could not fault Coinbase for beginners. However, serious crypto traders may find the platform lacking and prefer more advanced trading platforms.

While writing our Coinbase review, we carefully analyzed the most important aspects of the platform, awarding each with a score. Below, we’ve summarized our review findings.