Coinbase Review 2024 – Fees, Features, Pros & Cons Revealed

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Our Verdict

US-based crypto exchange with low fees and Web3 access

Coinbase is the largest publicly traded crypto exchange in the world, and with good reason. The platform offers a fiat onramp for crypto investors as well as access to Web3 decentralized applications like Uniswap and Raydium.

Seasoned traders who use Coinbase Advanced get some of the lowest fees on spot trading, such as 0.6% maker and 0.8% taker fees. Beginners can directly buy crypto either with a card or PayPal. Additional features include crypto staking, crypto card with cashback rewards, NFT marketplace and more.

Pros

  • Competitive fees with Coinbase Advanced
  • Coinbase crypto rewards debit card
  • PayPal support

Cons

  • Higher fees for simple trades
  • Complex fee schedule for simple trades
  • Limited staking selection

Our review of Coinbase covers the pros and cons of using the exchange, comparisons to other platforms, and the overall user experience.

Is Coinbase the right crypto exchange for you? Let’s find out.

What is Coinbase?

coinbase crypto exchange

Coinbase is a cryptocurrency exchange that allows users to buy cryptocurrency with fiat currencies, like the USD or GBP, sell crypto for cash, or trade one crypto for another. Founded in 2012 by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader, the exchange has grown to over 100 million users in more than 100 countries worldwide.

In 2021, Coinbase went public, offering its shares on the US Nasdaq exchange. The move led to increased transparency for users through SEC filings and quarterly earnings reports.

Daily trading volume on Coinbase often exceeds $1 billion, ensuring higher liquidity for traders and making Coinbase one of the leading crypto exchanges in the world.

What Cryptocurrencies Can You Trade on Coinbase?

Coinbase offers over 250 cryptocurrencies for trading, including top assets like Bitcoin and Ethereum, which combined represent about 45% of the total volume on the exchange.

Coinbase crypto selection

But you’re not limited to the leading crypto coins and tokens. Coinbase offers a wide range of cryptocurrencies and serves as a launchpad for many new cryptocurrencies.

When The Graph (GRT) launched on Coinbase in December 2020, the value of the token increased fivefold in the first three days of trading, later going on to increase in value by nearly 20x compared to its launch price of $0.12. Coinbase featured the crypto in its learning rewards program, a popular way to earn free cryptocurrency while learning about new tokens.

Top traded assets on Coinbase include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Solana (SOL)
  • Chainlink (LINK)
  • Ripple (XRP)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Avalanche (AVAX)
  • Fetch.ai (FET)
  • Shiba Inu (SHIB)

Coinbase Fees & Commissions

Like similar trading platforms, Coinbase applies various fees to trades. These can include percentage-based fees or spread fees. In addition, some traders may see non-trading fees, including deposit fees.

Trading Fees

Coinbase offers two trading platforms for retail traders: Simple Trades and Coinbase Advanced. Of the two, fees for Coinbase Advanced take a smaller bite out of your trades, sometimes much smaller.

Coinbase Simple Trade Fees

Buy/Sell buttons throughout the site point to Coinbase’s simple trading platform. Trades on the simple trade platform use a tiered fee structure based on trade amount. In addition, prices include a spread that varies based on market conditions but is often 1%. In this context, a spread offers a simple way to temporarily lock in a price for your trade and is included in the quoted price for the asset you’re trading.

Simple trades use a fixed fee for smaller trades, transitioning to a percentage-based fee for trades above $75. Generally, the fee structure below applies, although we did see some small deviations in actual trades and slightly lower fees for bank transfer-funded transactions.

  • $10 trade: $0.99 fixed fee
  • $25 trade: $1.49 fixed fee
  • $50 trade: $1.99 fixed fee
  • $75 trade: $2.99 fixed fee
  • $100 trade: $3.84 (percentage-based fee)
  • $500 trade $19.18 (percentage-based fee)

At the high end, you’ll pay between 10% and 50% for orders up to $10. The fee for the minimum order of $2 is $0.99 (50%).

With higher purchase amounts above $50, trading fees drop to 4% or less for simple trades. Simple trades also use a spread, which is included in the quoted price. On a Bitcoin purchase, the quoted price included a 1% fee. However, a similar trade for USDC, a stablecoin pegged to $1 in value, did not use a spread.

coinbase bitcoin spread

Some quick math puts the cost of buying $100 worth of Bitcoin at $4.84 ($3.84 trading fee + $1.00 estimated spread fee). However, total fees may vary depending on the asset type and market conditions.

Coinbase Advanced Trade Fees

To reduce the cost of trading on the platform, you can use Coinbase Advanced. Although not as easy to use as simple trades, the savings available with lower trading fees may make it worthwhile to learn the advanced platform.

Coinbase Advanced uses a percentage-based fee based on the type of order as well as your 30-day trading volume.

At the lowest volume tier, the fees are as follows:

  • Limit order (maker fees): 0.60% of the transaction value
  • Market order (taker fees): 0.80% of the transaction value

coinbase advanced trading fees

Orders placed using Coinbase Advanced interact directly with the order book, a list of open orders on the exchange. Coinbase does not add a spread to these orders, but you’ll pay the actual market spread if you use a market order.

We’ll cover Coinbase’s trading platforms and order types in more detail later in our Coinbase review.

Coinbase Trading Fees Compared

The cost to trade on Coinbase depends on the amount of your trade (for simple trades) or the type of order you place and your 30-day trading volume (for Coinbase Advanced).

The table below compares the cost of buying $100 worth of Bitcoin on Coinbase versus other leading platforms.

Trade Type Coinbase eToro Kraken
Simple
  • $3.84 + spread (debit card or PayPal)
  • $2.99 + spread for bank transfer-funded purchases
$1 + spread $1.97 + spread
Advanced market order $0.80 N/A $0.26
Advanced limit order $0.60 N/A $0.16

Non-Trading Fees

To its credit, Coinbase limits other incidental fees you’ll pay for trading. There are no account fees or inactivity fees, for example. ACH-transfer withdrawals are free, but Swift (GPB) withdrawals cost £1, and SEPA (EUR) withdrawals cost €0.15. Withdrawals via wire transfer cost $25.

ACH (USD) and Swift (GPB) deposits have no fee. However, you’ll pay 2.5% to deposit via PayPal, the funds from which can then be used for simple or advanced trades. Both debit cards and PayPal are supported for simple trade purchases and follow the simple fee schedule covered earlier. There is currently no way to deposit via debit card for use in advanced trading.

Fee Type Fee
ACH deposit None
Swift (GPB) deposit None
PayPal deposit 2.5%
Wire Transfer deposit $10
Swift (GPB) withdrawal £1
SEPA (EUR) withdrawal €0.15
Wire Transfer withdrawal $25

You’ll encounter some additional non-trading fees if you use the Coinbase debit card or use Coinbase for staking, both of which we’ll cover shortly.

Coinbase withdrawal fees are largely limited to crypto withdrawals. Expect to pay network fees when you withdraw your crypto to a self-custody crypto wallet. These fees are not set by Coinbase, however. Instead, they are a cost related to using the blockchains themselves and vary based on network demands.

Coinbase Features

In addition to crypto trading, Coinbase offers several other features related to the crypto ecosystem and a subscription-based trading program called Coinbase One, which offers fee-free trading.

Crypto Staking & Other Rewards

Coinbase staking

Proof of stake is becoming more popular as a validation method for crypto blockchains, including the Ethereum network, but setting up staking on your own isn’t always well-suited to casual users. Coinbase takes care of the tricky setup, making it easier to earn a yield from crypto staking rewards.

In areas where staking is restricted, including several US states, you can still trade cbETH, Coinbase’s liquid-staked ETH token. Currently, cbETH pays a yield of 3.27% APY and allows you to enter or close a position at will by buying or selling.

Coinbase also offers promotional APY offers occasionally. For example, as of this writing, you can earn 5.00% APY on USDC held on Coinbase. USDC is a leading stablecoin that tracks the value of the US dollar.

Asset Yield type APY
Ethereum (ETH) Staking 3.27%
Ethereum (cbETH) Liquid staking token 3.27%
Solana (SOL) Staking 5.01%
Polkadot (DOT) Staking 9.77%
Cosmos (ATOM) Staking 10.34%
USDC Promotional APY 5.00%

APYs reported above reflect yields after Coinbase takes its staking commission and may vary based on network demand versus staked supply.

Coinbase does not charge a fee to stake or unstake supported proof-of-stake cryptocurrencies. However, the exchange keeps a percentage of the staking rewards earned, with standard commissions ranging from 25% to 35%.

This range may seem high, but makes Coinbase competitive with similar exchange staking programs like Binance.US, with its 20% to 35% staking commission, or Uphold, which keeps up to 34% in commission.

Coinbase Card

A common criticism of crypto is that it’s difficult to spend. While a growing number of merchants accept crypto payments, cryptocurrency payments are far from ubiquitous. Coinbase’s debit card lets you spend your crypto like cash and earn cash back in the process.

Coinbase card

Coinbase’s Visa card connects to your Coinbase account, letting you convert your crypto to USD on the fly to make purchases virtually anywhere.

There’s a cost to this convenience, however. Coinbase no longer charges a 2.49% conversion fee, instead using an unspecified spread to finance on-the-fly crypto-to-USD conversions. This spread applies to both purchases and ATM withdrawals in which you convert crypto to dollars. The spread does not apply to USDC to USD conversions, and you can continue to earn the current 5.0% promotional APY on unspent USDC balances.

In addition, you can earn cash back paid in crypto for purchases you make with the card. Each month, Coinbase changes the offering and reward rates. If you don’t choose a new reward, Coinbase chooses one for you automatically.

coinbase card rewards

Although crypto rewards have reached as high as 3% in the past, current choices top out at 0.5%.

The Coinbase Card is available for Coinbase US, UK, and EU customers.

Coinbase One

Trading fees for frequent traders and those trading in size can add up quickly, but Coinbase offers a solution to never-ending exchange fees with its Coinbase One subscription.

For about $30 per month, traders enjoy no-fee trades on up to $10,000 in monthly trades.

coinbase one benefits

Coinbase One members also get boosted rewards (lower commissions) on staking. If you’re in a supported market, including the US, UK, Germany, or Ireland, you’ll also get 24/7 phone support. In addition, US customers get a pre-filled Form 8949 to help complete their crypto taxes.

Coinbase reports that Coinbase One members average savings of $55 in Coinbase crypto trading fees per month.

NFT Marketplace

Still labeled as “Beta,” Coinbase’s NFT marketplace made headlines when it launched in early 2022. Since its launch, the formerly Ethereum-only platform has expanded to include NFTs on Polygon and Base, Coinbase’s own Layer 2 Ethereum-compatible blockchain.

coinbase nft marketplace

You won’t be able to connect to the NFT marketplace directly from your Coinbase account, though. Instead, you can use an Ethereum-compatible self-custody crypto wallet like MetaMask or Coinbase Wallet. Yes, Coinbase even has its own crypto wallet. More on that in a bit.

Alternatively, you can connect to Coinbase’s web3 wallet, which we’ll also discuss shortly.

However, you can connect popular crypto wallets like MetaMask or Coinbase Wallet to Coinbase Pay, an easy way to buy crypto through Coinbase and send it directly to the wallet you’ve connected to the NFT marketplace.

coinbase nft wallet connect

Web3 Portal

Web3 refers to the ever-expanding universe of decentralized applications (dApps). The possibilities seem endless, ranging from lending apps to cryptocurrency swaps to games and even social apps. For newer users, the biggest question is often where to start.

Coinbase makes Web3 onboarding a bit easier with its Web3 portal’s curated list of dApps across nine blockchains, including Ethereum, Base, Polygon, and Solana.

What Are dApps?

dApps

Decentralized applications, or dApps, refer to computer programs that run on the blockchain. These apps look like common websites or mobile apps, but under the hood, they connect to smart contracts to perform financial transactions or other functions.

Decentralized means that the smart contracts, once deployed, run on their own without a company in the middle of the transaction that can change the outcome. It’s just math and code – if this happens, then do that.

Crypto wallets, like Coinbase wallet, that support smart contract networks, such as the Ethereum network, let users connect to dApps where they can lend, borrow, swap cryptos, or even explore metaverse apps.

Like the NFT marketplace, Coinbase’s Web3 Portal doesn’t automatically connect directly to your Coinbase account. Instead, you connect a compatible wallet to the dApp you want to use. If you’ve connected Coinbase Pay to your wallet, you can use Coinbase Pay to buy crypto or move crypto from your trading account to your wallet.

Top dApps include:

  • BaseSwap
  • PancakeSwap
  • Balancer
  • Lido
  • Compound
  • Beefy Finance
  • Solend
  • Marinade Finance

In total, Coinbase features over 500 dApps and lets you search the Web3 Portal, sort by rating, or narrow your search by category and blockchain.

Learning Rewards

Coinbase now offers learning rewards, a way to earn crypto by watching short videos about new protocols and completing quick quizzes. As you pass each quiz, you’ll get rewards paid in the crypto covered in the learning modules.

Current free crypto offerings include:

  • The Graph (GRT)
  • Amp (AMP)
  • Near Protocol (NEAR)

Coinbase Vaults

Coinbase already uses cold storage, meaning most of the assets on the platform are held in crypto wallets that are offline. For large balances, you may want more security, though. You can use a Coinbase vault to store your crypto separately from your main trading balance, which brings new security features, including time-delayed withdrawals and the ability to add multiple approvers before crypto can be withdrawn from the vault.

Coinbase review: coinbase vaults

Coinbase vaults are available for all accounts.

Coinbase Trading Platforms

Similar to Kraken or Binance, Coinbase provides retail traders with two trading platforms: a simple trading platform and an advanced trading platform.

The simpler platform, called Simple Trade, is easy to access via Buy/Sell buttons found throughout the site. You can also switch between Simple Trades and Coinbase Advanced, the advanced platform, from the user icon in your account.

Standard (Simple Trade)

Coinbase is known as a newbie-friendly platform, largely due to the easy-to-use simple trading platform. This Swiss army knife of a trading tool lets you buy, sell, or convert one crypto to another in just a few clicks.

coinbase simple trade

You can also set up recurring buys — handy for dollar-cost averaging — or set up custom orders. Coinbase custom orders are a new offering and let you set your own price or choose from percentage-based options.

For example, the order below will execute if Bitcoin falls in price by 10% from its current market value.

coinbase simple trade custom order

Coinbase’s simple trades also enable more payment options than you’ll find with Coinbase Advanced, up next. The simple trading platform lets you fund an instant purchase with cash, bank transfers, PayPal, or debit cards, whereas Coinbase Advanced requires a cash or crypto balance.

All this convenience comes at a price, however: higher trading fees compared to the advanced platform.

To buy $100 worth of Bitcoin using the simple trade widget, you’ll pay $3.84. By comparison, the same trade on Coinbase Advanced costs $0.60 or $0.80, depending on whether you choose a limit order or a market order.

You’ll also pay a spread on simple trades. We tested several trades on the Coinbase trading app and saw a 1% spread listed for every asset we checked, with the exception of USDC, which did not use a spread. In this context, a spread is a markup that enables the exchange to lock in a price.

Coinbase offers a trade preview for simple trades. Check the numbers to be sure the trade, after fees, makes sense for you.

Coinbase Advanced

The advanced trading platform provides a way to reduce trading costs dramatically, dropping limit orders to 0.6% of the trade and market orders to 0.8% of the trade. Coinbase’s published fee schedule currently does not match the fees you’ll pay, however.

coinbase advanced vs coinbase pro

Coinbase Advanced replaces the now-defunct Coinbase Pro trading platform and brings several advantages, including advanced charts powered by TradingView and shared account balances between simple trades and the advanced platform. Coinbase Pro required users to move balances to the Pro platform before trading.

Coinbase Advanced integration with the main exchange brings additional advantages over Pro. Cash balances for US accounts now have FDIC pass-through insurance. You can also use Coinbase Advanced with Coinbase Vaults, keeping larger balances secure until you’re ready to trade.

Where the simple trade platform is a numbers-only widget, Coinbase Advanced brings customizable TradingView charts with over 100 indicators.

coinbase advanced TradingView charts

Advanced charting tools may eliminate the need for third-party tools, reducing your trading costs while helping you time your next move with precision.

However, for traders just looking for a way to avoid the higher fees associated with simple trades, Coinbase Advanced makes basic trading relatively easy.

Orders default to limit orders, a fixed-price order that lets you fine-tune your trade by choosing a price you define or a predefined percentage change from the current price. For example, you can set an order to execute at 1% below the current price, effectively paying your trading fees and then some with the price savings.

Maker and Taker Fees Explained

Advanced trading platforms like Coinbase Advanced use a maker/taker model to set fees for your trade.

  • Maker orders “make a market” by providing fixed-price limit orders. These orders populate the order book – a list of buy and sell orders – and provide liquidity (trading inventory) for other traders.
  • Taker orders are market orders. These orders take liquidity from the exchange by using the maker orders in the order book to fill orders at the “market” price.

In many cases, you’ll pay more for taker orders compared to maker orders. For example, Coinbase charges 0.8% for taker orders, whereas maker orders come with a 0.6% trading fee.

Coinbase offers a section in its learning center dedicated to advanced trading. If you’re new to advanced trading or need to brush up on some details, you’ll find guides and videos to walk you through.

Coinbase Advanced API

The Coinbase Advanced API (application programming interface) offers a way to access your account and perform trades remotely using third-party software or even an app that you write yourself.

For instance, if you want to use Coinbase to dollar-cost average into a Bitcoin position, the easy solution is to use Coinbase’s simple trades to set up a recurring buy. This option comes with higher fees, however.

Coinbase’s Advanced Trade API lets you set up your own dollar-cost averaging app, automatically buying a fixed amount at a set interval. This can reduce your trading fees by over 80% if you have the programming chops to write the software yourself.

Coinbase’s API lets you connect outside apps to the platform, creating a powerful way to trade even if you’re not a coding guru. Trading bots from third-party providers offer a ready-made way to trade via API without any programming. These digital traders make trades according to a set of rules, and like the crypto market itself, they never sleep.

Coinbase Futures

Through Coinbase Advanced, qualified traders can trade futures markets, making bets on the future price of BTC or ETH.

coinbase futures trading

Not all accounts will qualify, however. The trader application for Coinbase Futures trading considers age, trading experience, net worth, income, and occupation.

Currently, futures are watch-only on mobile, whereas you can trade on the desktop app.

Coinbase Wallet

Crypto wallets hold the private keys to control your crypto assets. Exchanges like Coinbase provide a custodial wallet, meaning Coinbase holds the private keys, but you can access your account through an account login. A self-custody crypto wallet offers a way to move your crypto from an exchange wallet to a wallet you control.

Coinbase Wallet

Coinbase Wallet is a standalone self-custody crypto wallet made by Coinbase. However, you don’t need to have a Coinbase account to use the wallet. A Coinbase account adds more functionality, though, including the ability to buy crypto through Coinbase and have the crypto directly deposited to your Coinbase wallet.

Fees to make crypto purchases through Coinbase wallet parallel those you’ll find with Coinbase’s simple trades, although a bit higher. Trading fees to purchase $100 worth of Bitcoin came in at $4.01 versus $3.84 with simple trades. You’ll also pay a network fee to transfer crypto from the exchange wallet to your Coinbase wallet.

Supported blockchains vary depending on which version of Coinbase wallet you use. The mobile version supports Bitcoin, Ethereum (including ERC-20 tokens and NFTs), Solana, Dogecoin, and Litecoin. The Chrome extension version of Coinbase wallet pares this list, supporting only Ethereum, Solana, and EVM-compatible networks.

EVM-Compatible Networks

The Ethereum network was the world’s first smart-contract crypto network, meaning users can interact with software programs that live on the blockchain. While the Ethereum network has become extremely popular due to its smart contract superpowers, this popularity also creates more demand for the network — driving up the cost of transactions.

To solve speed and cost issues, Layer 2 networks like Polygon, Arbitrum, or Coinbase’s newly launched Base network offer faster and cheaper alternatives. These networks are also called EVM-compatible because they can run an Ethereum Virtual Machine (EVM), a way to execute smart contracts just like on the Ethereum mainnet.

Wallets like Coinbase Wallet and MetaMask support both the Ethereum network as well as EVM-compatible networks like Polygon and Arbitrum.

Coinbase Wallet Features

The Coinbase wallet app paves the way to a world of crypto beyond trading.

  • Buy: Connect to your Coinbase account to buy crypto instantly.
  • Swap: Coinbase wallet connects to 75 decentralized exchanges to find the best exchange rates when you need to swap supported cryptocurrencies like Ethereum or ERC-20 tokens.
  • Bridge: Send your crypto to another blockchain.
  • Send & receive: Send crypto to another wallet or receive crypto from others.
  • Explore dApps: Coinbase wallet provides a built-in dApp explorer. Connect to leading decentralized applications like Uniswap, OpenSea, Yearn Finance, and much more.

Coinbase User Experience

Coinbase builds a user-friendly gateway to the world of crypto, although as the platform adds features, navigating the platform becomes slightly less intuitive. Still, commonly used features remain within easy reach.

What We Liked

When trading, Coinbase provides help tips marked with a question mark or an “i” for information. You’ll find these markings near trades, indicating how fees are calculated or whether the price includes a spread added by Coinbase. These tips provide transparency on trading costs, assuming the user clicks on the help tips.

We also liked the overview available for each tradable asset. Search for an asset or browse available cryptocurrencies and scroll down to find links to the project whitepaper (a document that proposes the project and explains how it works as well as which problems it solves), news, and a brief overview of the cryptocurrency.

What Could Be Better

Newer users would benefit from an easy-to-reach help screen for Coinbase Advanced. While available, the catalog of help pages for Coinbase Advanced isn’t linked from the desktop web app advanced platform where help may be most needed.

We also found a setting for advanced trades that may cost traders money if they don’t adjust it to suit their trading needs.

coinbase advanced trade allow taker

Limit orders default to “allow taker,” a setting that helps ensure order execution but also changes the trading fee to 0.8% rather than 0.6% fee for maker orders, a 33% increase in trading fees. Toggling this setting to “post only” created a true limit order with a lower 0.6% fee.

What’s Missing?

Several competitors offer features not currently available on Coinbase, including a demo account and copy trading.

  • Coinbase copy trading: eToro, Binance, and OKX all offer copy trading, a way to copy the trades of successful traders on the platform. This newbie-friendly feature helps reduce the need for technical analysis and lets users set a fixed amount to invest in each copy trade.
  • Coinbase CopyPortfolios: eToro’s smart portfolios, formerly called CopyPortfolios, provide an ETF-style way to invest in a basket of cryptocurrencies that follow a theme or market segment.
  • Coinbase stock trading: Competing crypto trading platforms like Robinhood and eToro offer stock trading alongside crypto trading, allowing investors to build a diversified portfolio without leaving the platform.
  • Coinbase forex trading: Foreign exchange (forex) trading lets traders invest in other currencies. Competing platforms like eToro and Uphold offer forex trading in supported regions.
  • Coinbase paper trading: A demo account, like those offered by OKX and eToro, provides a way for newer traders to learn the platform and the ins and outs of crypto trading. Experienced investors use demo accounts to test trading strategies.

The launch of its NFT marketplace and web3 portal shows Coinbase is still innovating and finding ways to meet the needs of the market.

Mobile App

Coinbase’s mobile app parallels the functionality you’ll find on the web app while somehow making everything a bit easier to find compared to the desktop experience.

However, one area of potential confusion using the Coinbase mobile app surrounds the Coinbase web3 wallet, which is only available to select users during rollout (and requires users to confirm their identity). As a privacy-friendly alternative, users can choose the Coinbase wallet app, which is also linked from the mobile app and does not require additional identity verification.

Generally, navigating the Coinbase app is a breeze. The mobile app feels fast. Navigation is intuitive, and key features, including simple trades and advanced trades, are within easy reach.

Advanced trading on mobile offers a pared-down list of trading indicators, including MACD, Bollinger Bands, and three others. If you need more indicators, you’ll need to use the desktop app, which offers 106, or use another charting app. Still, the advanced platform on mobile should meet the needs of most traders looking for lower trading fees.

Mobile advanced trading brings one benefit not easily found on the desktop web app, however: tutorials.

coinbase mobile advanced tutorials

Click on the “i” icon at the top of the screen to open a menu of tutorials ranging from order types to the order book itself.

The mobile Coinbase app also provides two-factor authentication (2FA) for the web app. If you (or someone else) log in to Coinbase from an unrecognized computer, Coinbase sends an authorization request to the app installed on your mobile device.

Coinbase Account Types

Coinbase offers three basic types of accounts, each tailored to a different focus.

Individual Accounts

Most traders and investors will open an account as an individual. An individual account requires KYC (know your customer) identity verification for full access to all trading features.

Institutional / Business Accounts

Coinbase also supports business accounts. Businesses are separate legal entities from the individuals who own the business. A business-focused service called Coinbase Prime enables trading and secure crypto storage at scale.

Commerce Accounts

Businesses that want to accept crypto payments can open a commerce account. This account type allows easy conversion from crypto to USD, featuring both self-service and managed accounts.

Coinbase Payment Methods

Coinbase supports several payment methods. Availability varies by region.

US payment options include:

  • ACH Bank Transfer
  • Debit Cards
  • Google Pay and Apple Pay (debit cards)
  • PayPal
  • Wire Transfers

Payment options elsewhere in the world may include:

  • Google Pay and Apple Pay (debit cards)
  • PayPal
  • Wire Transfers
  • 3D Secure Card
  • Easy Bank Transfer
  • Faster Payments Transfer
  • SEPA Transfer
  • Sofort
  • iDeal

Of note, the payment method you choose may affect how quickly your funds will be available for trading. For instance, ACH bank transfers can take 3-5 business days to process before funds are available. By comparison, a debit card or PayPal-funded transaction makes the funds available instantly.

You’ll also want to compare fees for deposits. ACH deposits are free, whereas PayPal deposits have a 2.5% deposit fee. Several sources indicate a 3.99% fee for debit card purchase transactions. We didn’t observe a 3.99% fee in our Coinbase review.

coinbase order preview PayPal

Debit card and PayPal purchase transactions appeared to follow the simple trade fee schedule without any additional fee based on payment method.

Purchases funded via bank deposit came with a lower fee, however: 2.99% for cash – shown below –- versus 3.84% for PayPal or debit card-funded purchases.

coinbase order preview bank transfer

Coinbase Minimum Deposit

To open your account, Coinbase only requires a $2 minimum deposit. Minimum trade amounts are $1.99 in USD for US customers.

Coinbase Withdrawal Times

Like funds availability for deposits, withdrawal times vary by withdrawal method.

Withdrawal type Withdrawal time
Instant Cashouts (via supported Visa and Mastercard cards) 30 minutes to 24 hours
PayPal 1 business day
ACH 3-5 business days

Coinbase Customer Support

Besides eToro, with its stellar 4.4 out of 5-star Trustpilot rating, few crypto exchanges rate well among consumers on Trustpilot. Add Coinbase to that group. With a 1.5 (out of 5) Trustpilot rating, Coinbase reviews on Trustpilot rank the exchange similarly to Binance (2.1 out of 5-star rating) and Kraken (2.5 out of 5-star rating).

In practical application, however, customers have multiple ways to reach Coinbase, including a customer service phone number – a rarity in the industry.

  • Help center: Visit the help section for answers to frequently asked questions
  • Live chat: Click on the clue Coinbase logo at the bottom of any of the help pages to start a live chat. Ask for an agent if the automated answers don’t answer your question.
  • Phone support: Choose a help topic on the contact page for live chat or live phone support with separate phone numbers by region.
    • USA / International: +1 (888) 908-7930
    • UK: +44 808 168 4635
    • Ireland: 1800 200 355
    • Germany: +49 800 0010726

When reaching out to Coinbase via chat previously, we connected with a live agent within a few minutes who quickly pointed us in the right direction.

Coinbase Accepted Countries

Crypto regulations vary by country, and many countries are still working toward regulation that supports trading markets while also providing consumer protection. As a result, the availability of crypto exchanges varies by region.

Additionally, you may see limited availability of some features depending on your jurisdiction. For example, Coinbase offers staking services in the US but does not offer staking in several US states following cease and desist orders from those states. Similarly, Coinbase is not available in Hawaii at all.

Coinbase is available in some capacity in over 100 countries worldwide, including the US, Canada, UK, and Europe, but currently does not offer service in certain countries or regions.

  • Singapore
  • China
  • North Korea
  • Iran
  • Syria
  • Cuba
  • Crimea

Is Coinbase Safe? Licensing & Security

Licensing and regulation are important considerations for many crypto investors. Coinbase is regulated in several jurisdictions, including major markets like the US, UK, and Australia.

  • US: Financial Crimes Enforcement Network (FinCEN), Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC)
  • UK: Financial Conduct Authority (FCA)
  • Australia: Australian Transaction Reports and Analysis Centre (AUSTRAC)

Regulators can play a key role in the crypto evolving crypto industry. The collapse of the FTX exchange illustrated the importance of vigilance on the part of regulators as well as consumers. Following the bankruptcy of FTX, customers who held balances on the FTX exchange became unsecured creditors, meaning the funds they held on the exchange won’t be repaid until after the bankruptcy is settled — and may not be paid at all.

Customers also benefit from Coinbase’s public SEC filings as a publicly traded company, including earnings reports and other data that could indicate the health of the exchange.

Conclusion

Put simply, Coinbase separates itself from the crowd as a great choice for cryptocurrency traders and investors of all experiences and skills. Its user-friendly platform, stringent security features, and regulatory compliance make it a perfect starting point for crypto enthusiasts. The wide range of supported cryptos (over 3k to be exact) also makes it ideal for those looking to build a diversified portfolio of altcoins.

The advanced features such as Coinbase Advanced and Prime accounts make light-work of technical analysis and complex trading strategies. Not to mention the robust security measures and compliance with legal standards which make crypto trading straightforward and safe.

With such a strong reputation and track record, Coinbase is one of the top choices for those interested in treading the ever-evolving world of cryptos, regardless of their experience.

References

FAQs

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Eric Huffman
Editor
Eric Huffman
Editor

Eric Huffman has a diverse background ranging from business management to insurance and personal finance. In recent years, Eric's interest in finance topics and in making personal finance accessible led to a focus on cryptocurrency topics. Eric specializes in crypto, blockchain, and finance guides that make these important topics easier to understand. Publications include Milk Road, Benzinga, CryptoNews.com, Motor Trend, CoverWallet, and others. Always learning, Eric holds several certifications related to crypto and finance, including certificates from the Blockchain Council, Duke University, and SUNY. When he's not writing, you might find Eric teaching karate or exploring the woods.