Coinbase Review | 2024

Coinbase Software

The standard Coinbase offers support for desktop and mobile, which means that Windows, MacOS, iOS and Android users all get access to the site.

Interestingly Coinbase also offers an Advanced Trading dashboard, which is designed primarily for experienced traders but also has the benefit of lower fees. The company also offers a standalone wallet, which is available for mobile users. The Coinbase mobile app is very good (over a million reviews on the App Store with a 4.7 rating) and a great place for new crypto users to get started.

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?

Coinbase is one of the biggest crypto on-ramps in the world thanks to it’s easy-to-understand UI and simple sign-up process. The downside is that its fees tend to be on the high side.

Coinbase uses a “flat + percent fee” structure on all of their operations.

 Coinbase has a rather dynamic fee structure depending on the operation taken on the site, ( Buys / Sells / Trades ). They’ve implemented tiered fees depending on the type and volume of the operation. In can seem a little confusing at first but basically Coinbase charges a flat fee for any transactions below $200 while a percentage-based fee for anything over that amount. Here’s a little more on the fee structure directly from Coinbase.

Overall, Coinbase is transparent about their fee structures. It’s broken out with granular articulation which definitely increases the trust factor that we have for Coinbase. All in all, Coinbase runs a tight and exceptional service in the crypto industry—it’s not surprising why they are able to charge the fees that they do. Seasoned cryptocurrency traders may look for exchanges with lower fees but it’s hard to ignore the high amount of trust that Coinbase brings to the picture.

It should be noted that Coinbase Advanced Trade offers a more traditional fee structure with maker and taker fees for trades. The fees are much lower using this method.

Here’s how the flat fees breakdown on Coinbase (if you’re in the USA). These are simple flat fees for purchasing cryptocurrencies:

• $10 or less = $.99
• $10-$25 = $1.49
• $25-$50 = $1.99
• $50-$200 = $2.99

Coinbase Features

Coinbase offers a wealth of different products in addition to its stellar exchange.

If you’re looking to earn a yield on coins like Ethereum than you can take advantage of it’s powerful staking services. You can also borrow against your Bitcoin if you need cash.

The Advanced Trade dashboard also has all the features of the now-defunct Coinbase Pro including the ability to interact directly with the Coinbase order book and make spot and limit orders. You’ll also enjoy much lower fees compared to the normal broker model of buying crypto on Coinbase.

Coinbase also offers custodial services for high net-worth individuals and institutions if they can’t be trusted to secure their own crypto.

Finally on the opposite end of the spectrum Coinbase offers their own wallet app, which is non-custodial and lets users interact with DeFi.