Coinbase Review 2024

Thadeus Geodfrey

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

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Article was updated: October 4, 2024

Estimated reading time: 3 minutes

Coinbase is a reputable crypto exchange founded in 2012 in San Fransisco, USA. The entity behind this exchange became a publicly traded company in 2021 and is now worth billions of dollars. As of 2024, Coinbase has millions of verified users and is available in over 100 countries, including the US, the UK, and Canada.

We put Coinbase to the test, with our experts researching and vetting the exchange for many hours. The results were impressive, and we highly recommend it to our esteemed readers. We’ve summarized our findings in this Coinbase review, so read it carefully. Our team has covered fundamental elements regarding this service provider, from its regulatory status to some of its supported assets and mandated fees.

Our Opinion about Coinbase

At BrokerRaters, we always have great respect for multi-regulated and licensed crypto exchanges, and Coinbase is no different. We strongly vouch for this exchange since it is licensed, authorized, and regulated by many reputable organizations, from the FCA in the UK to the CBI in Ireland. Also, this entity is licensed and authorized in countless US jurisdictions, from Alabama, Arizona, and Connecticut to Illinois, Kentucky, and Vermont.

Coinbase is also a publicly traded company worth billions of dollars. You don’t have to worry about the exchange disappearing into the night with your hard-earned money or invaluable assets on any given day. We also recommend this exchange because its users have access to hundreds of crypto assets, advanced trading tools, pocket-friendly fees, and other outstanding boons. Here’s a summary of noteworthy Coinbase pros and cons:

Coinbase

✔Available in over 100 countries
✔Authorized, licensed and regulated

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5 User Reviews

857,000 User Reviews

1,700,000 User Reviews

Our Rating

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2,557,005 User Reviews

Fees

Coinbase doesn’t have a fixed minimum deposit requirement, which should be terrific news to people working with a limited budget. Moreover, the exchange covers transaction charges on behalf of its clients, so you don’t have to worry about additional costs while topping up your Coinbase account. To make everything better, the company allows its users to send crypto to other Coinbase users free of charge.

That said, our experts discovered numerous fees and charges while researching and evaluating Coinbase. For starters, the company charges a 0.1%C Lighting Network fee as well as variable exchange fees that depend on numerous factors, including market conditions, order size, and the involved payment method. Coinbase users who require asset recovery services are also subject to network and recovery fees.

Let’s review some of the fees and charges that you might encounter while trading with Coinbase:

Fees and Charges	Details
Minimum deposit	None
Fiat deposit fees	$10 (wire), €0.15 (SEPA)
Fiat withdrawal fees	$25 (wire), £1 (SEPA)
Crypto transfer fee	None
Exchange fees	From 5bps/0bps taker/maker fees
Lightning Network fee	0.1%
Staking commission	From 25%

Available Crypto

Coinbase supports hundreds of cryptos, from Bitcoin to popular altcoins like Ethereum and Dogecoin. If you have a favorite digital asset you’d like to trade or invest in, please check if it’s on the exchange’s supported cryptocurrencies list before signing up or committing financially. With that in mind, here’s a snapshot of popular crypto assets that Coinbase users have access to:

• Bitcoin
• XRP
• Monero
• Uniswap
• Litecoin
• Polygon
• Polkadot
• Cardano
• Avalanche

Security

Coinbase is a multiregulated exchange that adheres to strict mandates set by diverse regulatory bodies, including the FCA and multiple authorities in the US, from the Alabama Securities Commission to the West Virginia Division of Financial Institutions. Like other multi-regulated service providers, Coinbase must adhere to strict security guidelines set by regulators.

While interacting with the Coinbase platform, rest assured your money, data, and assets will be protected with industry-leading encryption and security technologies. Plus, your security will be optimized by several outstanding security features, including robust password protection and auto-enrolled two-factor authentication.

Conclusion

We spent a lot of time preparing and compiling this Coinbase exchange review. Our experts have highlighted essential facts we discovered and consider indispensable to traders. However, one review can’t cover everything related to an established service provider like Coinbase. After reading our review, please conduct independent research and gather more insights before transitioning to an active Coinbase user.

Most importantly, use your trading needs and goals to ascertain Coinbase’s suitability. And if you are new to the crypto universe, set everything aside and master the basics before going any further.

Thadeus Geodfrey

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

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