Coinbase is one of the biggest names in the industry when it comes to Cryptocurrency exchanges. The Coinbase platform provides its services to over 9 million people in over 30 different countries, making it one of the most popular online exchanges in the world.
Brief History
Coinbase was founded in 2012 and raised over $ 100 million in investments from some big financial backers. Coinbase’s headquarters are in California, and they employ over 30 people. Over the last 5 years, Coinbase has grown very quickly with millions of international users, in over 30 different countries, with the site being available in 10 different languages. The company continues to grow as it works in close conjunction with regulatory authorities.
Wallet
Coinbase offers a wallet service for crypto users to store their hard-earned crypto funds. Coinbase’s wallet allows users to store Bitcoin, Ethereum, and Litecoin. The wallet has some innovative security features that give users peace of mind when leaving their coins in Coinbase’s hands. The interface is also incredibly user-friendly and easy to navigate.
On top of the regular wallets at Coinbase, there are two other types on offer- the Vault wallet and the Multisignature wallet. These wallets both have a few extra benefits over the regular wallets, mostly being enhanced security features.
Security
The cryptoshere is absolutely flooded with scams and scheme, so when choosing a wallet, security should be of utmost importance. Coinbase has gone above and beyond to ensure that their security measures are some of the tightest in the industry. One of the reasons they are able to do this because they are very well-financed so they have a budget that can use specifically for maintaining and updating their security.
Fees
Coinbase’s fees are for the most part minimal or non-existent. Basic fees differ from country to country, but it can usually be counted on that the site will cover the miner’s fees for their high-speed transactions. You may be expected to pay minimal fees for smaller transactions of less than 0.001 BTC.
Customer Support
In Coinbase’s infancy, it did encounter numerous complaints about their inefficient customer service. But since then Coinbase has invested a lot into improving, and their customer service and even have a dedicated line to customer service and have included many more staff members to deal with customer service.
How To Set Up An Account
If after what you’ve read, you’re interested in setting up a Coinbase account, these are the following steps you can expect to encounter:
• Sign Up – The initial sign up process is incredibly simple. All you need to do is provide Coinbase with your email address, name, and password.
• Choose Account Type – you’ll receive an email where you need to confirm your email address by clicking on a link. You’ll be redirected to a page where you choose between a business or individual account.
• Verify your phone number – for security purposes you will need to verify your account by verifying your phone number.
• Setting up a payment method – The final stage you need to take before you can start buying Cryptocurrency is set up your preferred payment method from a range of popular methods.