Buying and selling cryptocurrencies. This is what, after all, allows you to make a top exchange like Coinbase. However, if you really want to get the most out of financial investments in cryptocurrencies, or own digital currencies for online purchases and payments, you certainly can’t limit yourself to looking for such an essential service.
It is precisely for you, and for all those who – like you – are looking for an exchange full of services and advantages, that we wanted to dedicate this maxi complete guide to Coinbase, probably the best ” cryptocurrency exchange ” you will come across in your Street.
In our Coinbase review we will try to understand:
- what is Coinbase;
- what Coinbase does and why it does it better than others !;
- how much does it cost to operate with Coinbase;
- what are the accounts it offers you and the related services;
- how to buy and sell cryptocurrency;
- how you can earn FREE cryptocurrencies thanks to Coinbase Earn;
- what is Coinbase Pro;
- and so much more!
You just have to take a few minutes to read this guide or, if you think you don’t have the time to do it now (it’s a bit long …!) Put this page in your favorite bookmarks: it will surely be useful in the next moment.
Exchange Coinbase – Summary:
| 🌏 Official ITA website : | https://www.coinbase.com/ |
| 👍 Customer Reviews : | 5/5 |
| 🔍 Cryptonasa.com vote : | ⭐⭐⭐⭐⭐ |
| 💸 Fees and commissions : | Basse🟢 |
| ⚡ Open an account: | Sign in! |
| 🎥Videotutorial: | Gratis🟢 – Play! |
What Coinbase is and how it works – Introduction to the exchange
Page Contents
What is Coinbase?
Let’s start with the basics 😉 Coinbase is a cryptocurrency exchange, that is a ” place ” where you can buy and sell digital currencies such as Bitcoin, Ethereum, Ripple, and many more.
The operator was founded in 2012 in California, San Francisco, and over the years has ended up becoming a global leader in providing a digital currency platform where sellers and consumers can transact with digital currencies.
It also has a wallet, a wallet in which – if you want – you can keep your cryptocurrency. Today, this cryptocurrency exchange is so important that dozens of global investors have joined its project, financing it with more than 200 million dollars. From Andreessen Horowitz to BBVA, from MUFG to USV, there are many well-known names who have chosen to trust Coinbase. A further guarantee of safety and quality!
How Coinbase Works: 2023 Updated Review
Now that you have in mind that Coinbase is a very serious and professional trader, you are probably wondering what you can do with Coinbase. How exactly does it work? Well, in order to be able to fully expose everything Coinbase has to offer you (and, believe us, it is no small thing!) We wanted to outline all Coinbase products in the following list.
We will deal with each of the following points in the next paragraphs, but – in the meantime – we are sure it will be useful for you to start orienting yourself in the wide range of services that Coinbase guarantees you between:
- Exchange : buying, selling and using cryptocurrencies;
- Wallet : safe storage of your cryptocurrencies;
- USD Coin : purchase and trading of a stablecoin, which is a cryptocurrency that has a stable price;
- Earn : a useful function to improve your knowledge on cryptocurrencies and earn them for free;
- Pro : it is the function intended for expert traders, for advanced cryptocurrency transactions.
All the functionalities for companies must also be added to the above. As this is a purely business and B2B approach, we will not deal in depth with these services in this in-depth study. We, therefore, limit ourselves to mentioning the services of:
- Commerce : acceptance of cryptocurrency payments;
- Custody : conservation of cryptocurrency with a service dedicated to institutions;
- Ventures : fundraising for your startup.
Coinbase Exchange: account opening
Let’s start by getting to the heart of Coinbase’s main function: that of “Stock Exchange”, or rather a platform where you can buy, sell and use cryptocurrencies.
But how to do it?
The first thing you absolutely must do is register for free here on the official Coinbase website. Don’t be afraid – the procedure is quick, painless, and most importantly, simple!
In fact, you will find yourself in front of the “ Create your account ” screen, where you can register in a few minutes for this exchange. Insert:
- Name,
- last name,
- email,
- password,
and put the checkmark on “I declare that I am at least 18 years old and accept the User Agreement and Privacy Policy” (even if with Coinbase you have nothing to fear, it is better if you really read them!).
Then click on ‘ Create account ‘.
At this point Coinbase will inform you that the exchange supports the RGPD, protecting your personal data and respecting the general data protection regulation of the European Union. From this point onwards, a fairly in-depth registration process will begin. Coinbase will guide you step by step in carrying out each activity, starting from verifying the email address (you will have to click on the link in the message you have just received) to completing the financial questionnaires and sending the identity documents.
Once you have completed this process, you can finally start trading, getting to the heart of the platform.
Login Coinbase
Now that you have registered on Coinbase you can finally log into your account and operate as you like.
To log in to Coinbase you simply need to log in to the official website [THIS IS THE CORRECT LINK] and then click on ” Login “, which you will find at the top right. On the new page that will be presented to you, enter your email and password, choose whether to stay connected or not on the device you are using and click on ” Login “.
At this point, you’ll need to make another little effort and enter the verification code that was just sent to you via SMS. Click on “Verify” and that’s it: you’ve just logged into Coinbase!
But why these steps?
We remind you that Coinbase takes your security very seriously and, for this very reason, has adopted two-factor authentication:
- username/email and password;
- verification code that you will receive on the mobile number indicated.
However, if you think that this double step is superfluous because maybe your account is empty or you feel safe enough, you can check ” Do not ask for the code for 30 days when I use this computer “.
However, we advise you to always leave two-factor authentication operational, especially if – like us – you are used to connecting mainly with the app, and less from the desktop. In this way, your protection will be guaranteed!
We also remind you that access to your account from the app does not provide for this double authentication and that therefore it will be sufficient to download the application for iOS or Android and carry out the identity verification through the app to have even more streamlined access.
You can open a free Coinbase account at this address.
Coinbase trading platforms
Once you have logged in, all you have to do is get your hands on the Coinbase trading platform. You will immediately notice that Coinbase really offers you a lot of opportunities for action but, despite this breadth of things to do, it will certainly not be difficult to find your way.
The first thing you should do, however, is to get your account fully operational. To do this, verify your account by confirming your email address and telephone number and, immediately after, add a payment method of your choice between your current account or credit/debit card.
Although this does not necessarily have to be the reason, Coinbase indicates the current account as the preferred payment tool for those who want to invest large amounts, while the cards are aimed above all at users who invest small amounts.
Whatever your choice, all you have to do is follow the brief instructions that Coinbase will provide you in order to connect your favorite payment instrument and, consequently, be able to transfer your funds to and from your account in a few moments. exchange.
But at what prices?
Coinbase: fees and costs
Considering that we are now mentioning it, let’s pause the exploration of the Coinbase trading platform and try to tackle one of the most delicate issues: the commissions and costs of Coinbase.
But why is the issue so delicate? It’s very simple! The fees you will incur when carrying out transactions with exchanges could have a very significant impact on the result of the transactions.
Let‘s be clear: Coinbase is one of the best exchanges in the world also in terms of commissions, but despite this, it is good that you have perfectly clear in mind what it means to use the Coinbase platform and services. And that’s why we are here!
Coinbase Wallet
Let’s start with the good news. To be able to buy cryptocurrencies with Coinbase you must have a wallet in which to deposit the digital currencies you have bought.
Nobody forces you to use the Coinbase wallet but, if you want to do this, know that the digital wallet that you can use within the exchange has no cost!
Coinbase offers its dollar wallet for free. This means that the operator will deposit your currency and your cryptocurrency at no maintenance cost. Not only that: Coinbase does not charge any costs for the transfer of cryptocurrency from one Coinbase wallet to another, with the operator will bear the network transaction costs for you.
Costs of buying and selling cryptocurrency on Coinbase
Considering that the use of the wallet is free, the first commissions you will encounter on your way of using Coinbase are those related to the purchase and sale of cryptocurrency.
We remind you that Coinbase applies a spread of 0.50 percentage points for purchases and sales of cryptocurrency. However, the spread is not fixed: it can vary depending on the fluctuations in market prices, up or down, even if we do not register very large changes.
In addition to the spread, which we can define as an ” implicit ” cost, Coinbase also applies a commission which is the highest cost item between a fixed commission or a variable commission which is determined on the basis of the type of payment, asset, and area of origin.
The fixed commissions are equal to:
- 0.99 euros if the transaction amount is equal to or less than 10 euros;
- € 1.49 if the transaction amount is between € 10 and € 25;
- € 1.99 if the transaction amount is between € 25 and € 50;
- 2.99 euros if the transaction amount is between 50 and 200 euros.
The variable commissions, on the other hand, are equal to:
- 1.49% for ” standard ” payments ;
- 3.99% for instant payments (only available for debit cards);
- € 0.15 for bank transfers.
Note: You can visit the official website for further information.
Therefore, if for example, you want to buy 100 euros of Bitcoin using a standard payment method, to find out what commission you will be charged you will need to compare the fixed commission (2.99 euros) and the variable commission (1.49 euros). Considering that the fixed commission will be greater than the variable commission, you will pay the fixed commission (in our example, 2.99 euros). Clear, right?
Cryptocurrency conversion on Coinbase
We conclude this in-depth analysis of Coinbase’s costs and commissions by talking about the latest rates, those for the conversion of cryptocurrencies.
With the cryptocurrency conversion operation, you are allowed to sell one cryptocurrency to buy another, in a single transaction.
For example, you can convert Bitcoin to Ethereum, or Ethereum to Bitcoin: in the first case, Coinbase will sell Bitcoin to buy the Ethereum equivalent, while in the second case it will sell Ethereum to buy the Bitcoin equivalent.
To carry out these operations, Coinbase receives a spread of 2.00%. Again, we remind you that the margin can change according to market fluctuations. Coinbase does NOT receive any express commission for this operation.
How to buy and sell cryptocurrencies on Coinbase
Now you have a lot of information to be able to proceed further and, therefore, we can only try to simulate a purchase or sale of cryptocurrencies.
To do this, simply click on Transaction at the top of your dashboard:
At this point, Coinbase will ask you if you want:
- purchase cryptocurrency using one of the payment instruments you have registered;
- sell cryptocurrency by depositing into your euro wallet or other deposit;
- convert cryptocurrency into another digital currency.
The process is extraordinarily simple to follow, and you will certainly have no difficulty in completing the transaction without room for error.
Moreover, Coinbase will allow you to establish the amount you want to buy and sell using your preferred reference currency, between fiat and cryptocurrency.
In short, you will not encounter any complexity or confusion in completing this transaction.
Once you have chosen :
- cryptocurrency to buy or sell;
- payment instrument to be used (for purchase) or deposit (for sale);
- amount of the operation;
All you have to do is click on the purchase or sale confirmation button.
What if instead of buying or selling cryptocurrency for fiat currency, you want to convert two cryptocurrencies?
Nothing simpler. Click on Convert and then choose the starting cryptocurrency (to sell) and the destination cryptocurrency (to buy).
Also, in this case, all you have to do is indicate the amount (or click ‘ Convert all ‘ if, in fact, you want to convert the entire deposit into a specific cryptocurrency), and click Confirm.
The operations are carried out in a very short time, thus allowing you to find a good alignment between the price you see on the display and the one at which the transaction is actually carried out.
You just learned how to buy and sell cryptocurrency on Coinbase.
Cryptocurrencies available on Coinbase
In the last paragraph, we got to understand how you can buy and sell cryptocurrencies. But what are the cryptocurrencies you can trade?
To date, Coinbase offers the possibility of trading dozens of cryptocurrencies, such as:
- Bitcoin
- Ethereum
- XRP (Ripple) – currently NOT available
- Bitcoin Cash
- Litecoin
- EOS
- Tezos
- Stellar Lumens
- Ethereum Classic
- Dash
- and many others.
For the full list visit the official website here.
This is a very wide range of opportunities, which will allow you to be able to respect your strategy in a dedicated and effective way.
If you then click on one of the cryptocurrencies indicated in this list, you will access the details tab where you will find all the information you need to be able to improve your knowledge of the specific digital currency.
Among the most interesting information, in addition to the graphs:
- trading activities (how many traders buy / sell the cryptocurrency);
- typical retention time (i.e., the number of days you have held the cryptocurrency on your wallet);
- popularity on Coinbase.
In the Wallet tab you can also reconstruct the history of this cryptocurrency in your wallet (if present), while on the right side of the page you can operate by buying and selling the same digital currency.
At this address, you can open an account on Coinbase.
Coinbase Paypal
Can PayPal be used on Coinbase? Yes, but only to make withdrawals, or to transfer euros or US dollars from our Coinbase account to PayPal. It is not possible, at least for the moment, to do the opposite.
To connect our PayPal account to Coinbase we will have to go to our name, in the upper right corner of the page, choose Settings, and then Payment methods. From here we can add our PayPal account, from which it will be possible to withdraw money for as long as we want.
To deposit the money within the platform we will have to rely on the other systems allowed by Coinbase: credit card, bank transfer, or direct deposit in cryptocurrencies.
To find out more, visit the official website here.
Cryptocurrency prices
One of the most interesting features of Coinbase is certainly linked to its transparency.
And it is precisely for this reason that one of the most prominent sections of its website is the one related to prices.
On the specific page of the exchange’s website, you will therefore be able to take a look at the prices in real-time of the various cryptocurrencies, not only those that can be traded on Coinbase but also those that are not yet transitable within the platform.
You will also be able to customize the tables based on the price in absolute terms, the positive or negative variation, market capitalization, and so on.
In short, you will have the opportunity to always have the evolution of the market under control, without losing sight of every opportunity that may arise!
Coinbase security
In addition to the characteristics of simplicity, convenience, and professionalism, Coinbase convinced us for another reason: the great security of each operation. For example, the exchange has strict controls when opening an account, thus allowing you to gain access to an account that will be closely connected to your person, with the maximum protection you can enjoy at every stage of your relationship. with the exchange, including the registration fee.
Furthermore, every time you log in to Coinbase, you will be subjected to two-factor authentication: in addition to entering your email and password, you will also have to enter the “disposable” code that will be sent to you via your mobile phone.
Not only that: when you log into your Coinbase account for the first time from a new device, you will also need to make an additional step in terms of security by clicking on the link you will receive via email.
Of course, you can manage the various security settings as you like, but:
- in any case, Coinbase will maintain an essential, basic, particularly advanced level of security;
- we advise you to lower the safety levels too much, while keeping them as precautionary as possible!
And if you need to know more, we remind you that on the Coinbase website there is a rich section dedicated to security (you can find it by clicking on “Do you need help?” At the bottom of each page).
Coinbase Pro: what it is and how it works [Tutorial rev. Pro]
Coinbase Pro is the dedicated cryptocurrency trading platform offered by Coinbase in addition to its core services. The service is designed for those who want to use more suitable tools for immediate trading, in an environment that closely resembles what is offered by trading platforms.
- How to access Coinbase Pro
No additional accounts are needed. All Coinbase subscribers can also access the Pro version, simply by accessing the dedicated domain (just add “ pro ” before Coinbase.com and then pro.coinbase.com ). There are no additional costs and there is no need to provide additional guarantees. Coinbase Pro is an additional version of the Coinbase platform but perfectly integrated with it.
- How to deposit and withdraw on Coinbase Pro
We can pay into Coinbase using the cryptocurrencies that we have already accumulated on the Coinbase Wallet, or pay them from an external Wallet. To do this, click on Deposit, choose the cryptocurrency we want to add to the platform and choose whether to transfer from Coinbase or Crypto Address. In the second case, we will be given the address of a Wallet to which we can send our crypto funds.
The same also applies to the withdrawal. In fact, in this case, it will be enough to click on Withdraw and we will be offered the same opportunities. We will be able to choose to withdraw crypto both to our Coinbase account and to an external Wallet. For fiat currencies, we can always withdraw to Coinbase, or alternatively to our SEPA-linked current account.
- Cryptocurrencies present on Coinbase Pro
On Coinbase Pro it is possible to invest in all the cryptocurrencies that are already present on Coinbase. We have Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Stellar, Tezos, Ether Classic, OMG, 0x, and many others. USDC is used as brokerage currency – a stable Coin useful because it allows us to “exit” from cryptocurrencies towards a stable value anchored to the dollar, BTC, DAI.
- Costs and commissions
Coinbase Pro allows you to invest with lower commissions than those practiced on classic Coinbase. To date, a 0.5% commission is applied in both investment directions, both when buying and selling. Such a commission scheme is more beneficial for those who make several trades within the same day.
There is a spread, which however is due to the distances between the proposed purchase and sale price by the market. Overall, the costs and commissions of Coinbase Pro are calibrated to the needs of those who want to trade and not long-term investments (for which classic Coinbase will be just fine).
Coinbase Pro features
As we have already said, Coinbase Pro is a platform that is particularly advantageous and useful for those who want to trade cryptocurrencies – and therefore make several exchanges a day, trying to increase their capital even with small gains, from time to time.
This is guaranteed by a platform that allows you to use different tools more similar to the world of trading than to cryptocurrency exchanges:
- Limit and stop orders
With Coinbase Pro we cannot only use market orders (i.e. buying or selling at the current price on the platform). We can also use limit orders and stop orders. In the case of stop orders, the order will be executed by the platform once the market price reaches what we have set. If the price falls below the one set by us, the platform automatically triggers a sell order.
In the case of limit orders, however, we can set a minimum price, above which the order will be executed automatically. These types of orders are useful for those who have complex trading strategies and do not want to settle only for the current market price.
- Graphic
Chart analysis is certainly not advanced, but it is a good starting point for doing basic level analysis. What can we do with this graphic type? Apply the visualization to point, or to Japanese candlesticks and also apply moving averages with a single click. For now, no further technical analysis tools are available, but we are still ahead of what exchanges generally offer in this regard.
- Order book
Through Coinbase Pro it is possible to consult the order books on the screen and in real-time. We will know at any time where offers and requests from market participants are concentrated and act accordingly. The order book is also searchable graphically – so we can see if the resistance to the price movement is on one or the other side.
- Slippage reporting
An additional and certainly appreciated feature is the reporting of slippage or a possible deviation between the asking price and the execution price before we place the order.
Slippage is unfortunately characteristic of market orders, even for those of a professional nature. The solution offered by Coinbase Pro can help protect against this problem, even if it is more suitable to move with stops and limit orders.
Pros and Cons – Is Coinbase Pro worth it ?
Coinbase Pro is a good addition to Coinbase’s already excellent offering. Like all platforms, however, it has pros and cons, especially in relation to the needs of each one, which even when investing in cryptocurrencies are always different.
- Pro di Coinbase Pro
SPEED: the execution of orders is almost instantaneous and we can also use this system to trade for a short period, trying to obtain small gains, even of a few thousandths of a percentage. However, we always take into account the commission that is inherent in each trade also through this platform.
CRYPTO CHOICE: all listed cryptocurrencies are also available from Coinbase. Even on less popular crypto tokens than Bitcoin and Ethereum, we can access trading-like tools, which are offered by very few other exchanges. A good choice for immediate and direct trading.
WITHDRAWALS AND PAYMENTS: the system that allows you to directly deposit cryptocurrencies on the platform via an external wallet is also very intelligent. It makes it very convenient (and at no cost) to add funds to the platform or withdraw them.
- Cons of Coinbase Pro
Coinbase Pro can still improve in some respects, especially in relation to real trading platforms, those where cryptocurrencies are treated as purely financial assets. Here we report what we believe to be aspects that can be improved, but which in any case do not make the opinion we have on this exchange less positive.
FEW ANALYSIS TOOLS: the analysis tools we have available are still few. The moving average alone cannot be sufficient for in-depth technical analysis and certainly, on more professional platforms we can find more advanced tools. In that case, however, it would be necessary to move towards structures other than those of exchanges.
Coinbase Earn
Instead, let’s dwell a little more on Coinbase Earn, a service that you really like a lot for its simplicity, usefulness, and convenience. Let’s face it: would you like to be able to earn free cryptocurrencies simply by learning a little more about them by watching some videos?
We anticipate the answer: yes!
Well, Coinbase Earn allows you to do just that: get free cryptocurrencies by watching videos. But what can you do?
It’s very simple, and we are sure you will enjoy it right away! First, you need to be an account holder. So, open a free account with Coinbase here and complete the registration process. In order to take advantage of Coinbase Earn, you don’t even need to make a first deposit and, therefore, you can complete this phase at a later time.
Once this is done, you can access Coinbase Earn by clicking on the relevant button, which you can also find in the Products menu.
You will immediately find yourself in front of a welcoming page, with a list of cryptocurrencies that offer training resources, and which will allow you to earn money as soon as you finish watching the videos.
Let’s take an example!
Once you have authenticated to Coinbase with the login, log into Coinbase Earn and scroll down the page. You will notice that, for example, EOS allows us to earn up to $ 40 by watching its videos. Why not take advantage of it?
Click on Continue! You will be presented with a series of explanatory videos on how EOS works. Click on the first one and look at it all the way.
At the end, you will be subjected to a very short questionnaire: in case of a positive answer (the answer is obviously found in the video you will have to watch!) You will be immediately credited with the free tokens.
At that point, however, the cryptocurrencies that have been given to you become your property. You can therefore convert them into another cryptocurrency and use them to improve your familiarity with the Coinbase platform. Is not it fantastic?
You can start earning cryptocurrencies on Coinbase here.
Cryptocurrency conversion on Coinbase
For the conversion between cryptocurrencies, Coinbase reserves the right to add a commission, in the form of a spread, of up to 2%. Depending on the cryptocurrencies involved, this spread can also be reduced. For those wishing to operate with reduced spreads, the Coinbase Pro platform allows you to exchange cryptocurrencies with a 0.5% commission and is, therefore, more suitable for those who carry out many transactions per day or week.
Coinbase customer service
Another idea we want to share with you is the ability to access Coinbase customer service, which is useful for resolving any doubts or concerns you may have about the functioning of the exchange.
In this case, first of all, we advise you to consult all the information available on the site: you can find guides, articles on the blog, and a lot of other informative material to be able to solve most of your questions.
We also recommend that you follow Coinbase on its social pages: Coinbase is present on Twitter and Facebook, where it shares tips, ideas, and news that you shouldn’t miss. And if all this was not enough to solve your doubts, all you have to do is resort to Coinbase’s customer service with its assistance which you can access by clicking on the relevant button at the bottom of the page.
Here you will find hundreds of answers to the most frequently asked questions that Coinbase users have already asked, and which could also be for you.
What if that wasn’t helpful to you either? All you have to do is activate the Coinbase BOT, a live chat session with an automatic robot (which can however pass you real support if necessary), with which you can talk to get to your full satisfaction!
Final remarks
Sharing some conclusions on Coinbase is very simple, given that we are facing a real number 1.
We recommend this exchange to anyone who intends to buy and sell cryptocurrencies safely. Cryptocurrency trading professionals will be able to find a new partner in Coinbase who will accompany them in completing each operation.
Those who want something more can then opt for Coinbase Pro, a professional platform that will allow them to further define their financial trading guidelines on Bitcoin & co. Even with regards to novice trading, Coinbase will be able to show all its potential considering that:
- opening an account is very simple, as are the deposit and withdrawal operations;
- you have 20 cryptocurrencies to trade at very competitive conditions;
- there are so many free information and training resources that you can choose to watch as much as you want;
- some of these free resources, thanks to Coinbase Earn, will allow you to earn free cryptocurrencies;
- you can turn to its excellent customer support at any time.
In short, we are faced with an operator that we advise you to embrace with conviction and… if you are not yet convinced, there is nothing better than experimenting with everything at “zero cost”.
Open an account on Coinbase (free on the official website) and then log in to Coinbase Earn. This way you will earn free cryptocurrencies and, in the meantime, you will realize how great this platform is!