Coinbase Review

Platform & Features

Overall, Coinbase is one of the top cryptocurrency exchanges when it comes to total number of features offered.

List of Features:

• iOS, Android and Web app
• 170+ Cryptocurrencies
• Instant Buy & Sells (beginners)
• Advanced Trading
• Recurring Buys
• Coinbase Pro
• Staking & Yield
• Learn & Earn
• Coinbase Vault
• Coinbase Borrow
• Coinbase Card
• Coinbase Wallet
• USD Coin (USDC Stablecoin)
• And More

1. iOS, Android and Web App

Coinbase is accessible on all of your devices and they offer multiple apps (Coinbase, Wallet, Pro). It's incredibly easy to use, no matter your experience.

2. Trading Interface

4 Recurring Buys

5. Advanced Trade

6. Coinbase Pro

More advanced traders looking for lower fees and spreads can use Coinbase Pro. It's a separate platform however, you can still login with the same Coinbase username and password. Transferring funds between your Coinbase accounts are free and instant.

Coinbase Pro has limit orders, market orders, a live order book, advanced charts and more. The downside is Pro does not support all fiat currencies. Right, now you can only deposit and withdraw crypto, USD, EUR or GBP.

7. Staking & Yield

• Official Staking updates
• Official Yield Updates

8. Learn & Earn

The Learn and Earn crypto section lets you get paid to learn about specific cryptocurrencies. All you need to do is watch a few 1-3 minute videos and answer a few questions to get paid anywhere from $1-$15. When you complete the quiz, the funds will automatically deposit into your account where you can instantly trade it, withdraw it or hold onto it.

9. Coinbase Vault

Coinbase Vault is built to store your long term holdings more securely. You can transfer your crypto into your Vault wallet and then it will have extra security features such as time-delayed withdrawals and multiple approvers for joint account withdrawals.

10. Coinbase Borrow

11. Coinbase Card

12. Coinbase Wallet

• Separate non-custodial app with DeFi and more

13. USD Coin (USDC Stablecoin)

14. News & Education

Find tons of educational resources on beginner and advanced crypto topics. You can also read up on the latest crypto news right from your dashboard.

13. Other Coinbase Features

• Affiliate Program - Invite friends and you both earn around $10 USD
• Coinbase Pay - Send crypto for free to friends via text message or email
• NFT marketplace
• Coinbase Ventures - Find other crypto products and services that Coinbase has invested in
• Buy Bounty Program - get paid $200-$50,000 to find security risks
• Coinbase Exchange (institutional)
• Light mode/dark mode
• Send A Gift

Security

Can You Trust Coinbase?

Security and reputation is one Coinbase's best features. Coinbase is one of the safest cryptocurrency exchanges in the entire world. They were founded in 2012, store crypto in cold storage, have a $255M insurance policy, and more. They're also a publicly traded company on the NASDAQ which means regular audits, public financials, and an added layer of safety.

Hacks & Incidents

We were able to find one hack in Coinbase's history since being founded in 2012. In 2021, 6,000 Coinbase customers lost their cryptocurrency to hackers due to an SMS vulnerability. Coinbase worked with the customers to regain control of their accounts and reimburse them for funds lost. 

Company Security Features

• 98% of crypto assets are held in offline cold storage
• $255 million insurance policy on the 2% of crypto held in online hot wallets
• Publicly traded company (COIN) which means regular financial audits and an added layer of safety
• Sensitive data is stored on paper backups and USB drives in vaults and multiple locations
• Coinbase claims all personal information is encrypted
• KYC required (must prove identity to sign up)
• Employees must pass a criminal background check
• Bug bounty program - they pay white-hat hackers to find security bugs and vulnerabilities
• See their security page for more

User Security Features

• 2FA for logins (via phone number, security key or authenticator app)
• 2FA for withdrawing crypto
• Crypto address whitelisting
• Coinbase Vault - Store your crypto here for time-delayed withdrawals, multiple approvers and offline storage
• Lock Your Account Button - Freeze all transactions if you see something suspicious
• Set up Pin or Touch ID for app login, sending transfers and more
• Security notifications via email, SMS and push (eg. Your password has been reset)
• Account activity notifications (eg. buys, sells, transfers, etc)
• View account login history (logins, locations, devices, IP addresses, etc)
• Coinbase offers an emergency phone number to lock your account
• Button to request your data to be deleted
• View website status in real-time

⚠️ Although Coinbase is safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet like the Ledger Nano X.

Customer Support

You can contact Coinbase support via live chat and it says "an agent should reply within 10 minutes." They also offer email support, phone support and a knowledge base with helpful FAQs, articles and walkthroughs. There is also a live website status where you can check for incidents or maintenance in real-time.

Clients in the USA can get a 24/7 phone support if they pay for the Coinbase One subscription which costs $30/month.