This is an honest review about the cryptocurrency exchange/wallet Coinbase. The image above is a personal screenshot of how the dashboard looks like on the desktop. Here's how well Coinbase is for you:
Buying and Selling Coinbase provides 3 different cryptocurrencies (online currency) that you can buy and sell. There is Bitcoin, Ethereum, and Litecoin. In order to buy them, you must link a bank account to Coinbase. There are some noticable spreads (the difference between the buy and sell price), but they will not make a big change on your purchase. They have a $1.49 USD fee for every time your buy or sell. The cryptocurrency you purchased, should show up after a week at most. It takes a week to verify the purchase from the bank, but it can be much faster if you verify your identity with Coinbase. Security and Safety of funds Coinbase is a third party, meaning it might not be the safest option to hold your cryptocurrencies. However, your account comes with a vault. It is the same as a wallet, but you can only withdraw your cryptocurrency after a process of confirming your actions through 2 of your personal E-mails and a 48 hour waiting period. Coinbase warns you to deposit only the cryptocurrency that the wallet is for. For example, you want to deposit Bitcoin, make sure you send only Bitcoin and not other cryptocurrencies to the address. Coinbase also allows users to use 2 Factor Authentication with Authy or Google Authenticator. This means that through an app (or text), you will receive a number code. The code will insure you and no one else is controlling your funds. What are the cons ? When there are Bitcoin forks, Coinbase will alert their customers to move their Bitcoins somewhere else to receive claims for the fork ( you dont have to). Another con is that on busy days, they need to fix their website. Final Conclusion The experience with Coinbase was overall positive. In my opinion it is the best place to buy cryptocurrency with fiat currency, especially if you live in North America. Join Coinbase today with my link ! https://www.coinbase.com/join/55c622bc74d6e82005000248
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