<p dir="ltr">Cryptocurrency has quickly grown from a modest alternative investment to one with a market value of hundreds of billions of dollars. You've probably heard of Coinbase if you're wanting to invest in cryptocurrencies or use them as a payment method. It is after all one of the most widely used bitcoin exchanges online, with millions of users. Additionally, it is among the simplest methods for purchasing cryptocurrencies, which has contributed to its meteoric rise to fame. Although there are dozens of different types of cryptocurrencies available globally, Coinbase only allows you to trade the most well-known ones, thus it is suitable for the majority of uses.</p><p dir="ltr">Because of all of this, Coinbase is a wonderful option for novice cryptocurrency traders to buy and sell their preferred coins. But <strong>is it safe to use Coinbase</strong>? <strong>How much are the fees</strong>? What distinguishes it from <strong>Coinbase Pro</strong>, its sibling platform? <a href="https://www.builder.news/" alt="Builder News" title="Builder News" target="_blank" rel="" class="">Builder.news</a> will discuss these concerns in more detail below.</p><h2>What is Coinbase?</h2><p dir="ltr">Coinbase is an online exchange platform for purchasing, trading, transferring and keeping digital currency. With the help of the Coinbase app, you can purchase and trade more than 50 different cryptocurrencies, including most popular ones such as Bitcoin, Ethereum, Litecoin. Additionally, users can send and receive cryptocurrency to and from other users by using Coinbase to convert between different cryptocurrencies. Similar to familiar stock trading apps, Coinbase displays cryptocurrency prices and market trends as well as news articles about the sector and your portfolio of holdings.&nbsp;</p><p dir="ltr">In addition to providing a stand-alone <strong>cryptocurrency wallet service</strong>, <strong>Coinbase wallet</strong>, Coinbase operates two different trading platforms. You may probably find everything you need to create and manage a bitcoin portfolio or trading plan among the variety of coins offered by Coinbase without trading fees.&nbsp;</p><p dir="ltr">Customers of Coinbase transact almost $309 billion in transactions every quarter with users in more than 100 different countries. 13,000 financial institutions are supported by the extensive cryptocurrency ecosystem that Coinbase oversees.</p><h2>A beginner's manual for using Coinbase</h2><p dir="ltr">It can all sound intimidating if you're new to Coinbase and possibly even cryptocurrencies in general. Don't worry, we'll explain <strong>how to get started with Coinbase</strong>.</p><h3>How to sign up for Coinbase?</h3><ul><li><p dir="ltr">Step 1: Install the Coinbase app on Android or iOS, or go to <a href="https://www.coinbase.com" alt="Coinbase" title="Coinbase" target="_blank" rel="nofollow" class="">https://www.coinbase.com</a> from a browser.</p></li><li><p dir="ltr">Step 2: Hit "Create" account (on a computer) or SIGN UP (on a mobile device).&nbsp;</p></li><li><p dir="ltr">Step 3: Validate email and verify phone number.</p></li><li><p dir="ltr">Step 4: Add basic personal information including ame, birthdate, address and the last four digits of your Social Security number. (Note: You must be at least 18 years old to utilize it).</p></li><li><p dir="ltr">Step 5: Choose to utilize Coinbase for either investing, making online payments, making purchases online, or investing in other exchanges.</p></li><li><p dir="ltr">Step 6: Verify your revenue source.&nbsp;</p></li><li><p dir="ltr">Step 7: Link a Payment Method: Customers can pay in a number of ways, such as using a bank account, debit card, PayPal, Apple Pay, or wire transfer.</p></li></ul><h3>How to log in to Coinbase?</h3><p dir="ltr">Once users have successfully signed up for Coinbase, logging in to the platform is no longer difficult.&nbsp;</p><ul><li><p dir="ltr">Step 1: Go to the Coinbase login page ( <a href="https://www.coinbase.com/signin" target="_blank"><u>https://www.coinbase.com/signin</u></a>) and enter the password and email address.</p></li><li><p dir="ltr">Step 2: Accomplish two-step verification&nbsp;</p></li></ul><h3>How to use Coinbase to sell cryptocurrency</h3><ul><li><p dir="ltr">Step 1: On the home page, hit the “Sell” button in the blue circle icon.&nbsp;</p></li><li><p dir="ltr">Step 2: Choose the asset you wish to sell and Select the quantity you want to sell, or click "Max" on the page's left side to sell the entire item.</p></li><li><p dir="ltr">Step 3: Review the website and take note of the Coinbase fee once more.</p></li><li><p dir="ltr">Step 4: Click "Sell now."</p></li></ul><p dir="ltr">Remember that, according to Coinbase, purchases made with a bank account typically take 3 to 5 business days to finalize.</p><h3>How to use Coinbase to buy cryptocurrency</h3><ul><li><p dir="ltr">Step 1: On the screen's top, tap "Get started."</p></li><li><p dir="ltr">Step 2: Choose which preferred cryptocurrencies and how much you want to buy. The lowest order amount is $1.99.</p></li><li><p dir="ltr">Step 3: Select "Preview purchase." to Check the order</p></li><li><p dir="ltr">Step 4: Select "Buy now." After purchase, you can immediately exchange it, but you must wait eight days before sending it to someone.</p></li></ul><h2>Coinbase trading fees</h2><p dir="ltr"><strong>Coinbase fees</strong> can be a little confusing cause they are based on the type of account you have, the size of the transaction, and the financing source. Therefore, the final fee you pay may vary depending on your country or region, payment method, and the item. You will pay a fixed charge based on the size of your transaction together with a spread markup of 0.5%of your trade value for smaller transactions, as follows:</p><p class="prosemirror-p-center"><img src="https://lh5.googleusercontent.com/Tc7nS9Oc5GDATPQ7ggmurk1Kyco_qTsJL8i6GjUNq-cnpQLYwK-6VOjbVRDJbNOf1e_K-OFu1r6CBejEYu8-xUt9hW9eImzrglf-kN-z8jfFOjVUWePXkJLCZLmi6Q_LCCysUM09iXmb2HQoqKMt3zY" alt="Coinbase fee in trade size" title="Coinbase fee in trade size" width="624" height="204"></p><p dir="ltr">Depending on how you pay for the cryptocurrency, Coinbase charges a variable fee on transactions above $200 and a spread markup of 0.5%of the total trade value for quantities over $200.</p><p class="prosemirror-p-center"><img src="https://lh5.googleusercontent.com/dnXf7IO0Lo2jX1p9Z_HmoFm70q1CzGWyqiYX_Psfz8jL8XD3txTOTUaMleq41Mex3rXu7naVC3U2w4-C_lyzQE7mnFkE3la_Sy7MMLsvCRBUTG-etPOamRioxflWcCa46k4Ghv3qm4V7YQkQFEjOyobl-bgijKYhX11MNjrE8VJY19-U-kTu9MgRVQ" alt="Coinbase fee in payment method" title="Coinbase fee in payment method" width="624" height="145"></p><h2>Difference between Coinbase and Coinbase pro</h2><p dir="ltr">You may have also observed that the fee consumes a sizable portion of your buy for those tiny sums. If you're an experienced trader, Coinbase Pro might be something to take into account. The old Coinbase platform is probably preferred by beginners for straightforward buy and sell orders. Through Coinbase Pro, which is accessible to all Coinbase customers, more knowledgeable users can access extra tools and order types.</p><p dir="ltr">Although <strong>Coinbase</strong> and <strong>Coinbase Pro</strong> are not wholly unlike one another, there are some differences.&nbsp;</p><h3>Interface</h3><p dir="ltr">First off, Coinbase Pro's layout is considerably more complicated than Coinbase's. Numerous statistics are displayed on Coinbase Pro's home page, which may initially seem a little overwhelming. This is so because Coinbase Pro is made for traders who are more knowledgeable about exchanges and the cryptocurrency market in general.</p><p class="prosemirror-p-center"><img src="https://lh4.googleusercontent.com/70K0Qys1rg0UBGmlNVxak5bzvrnLAZ9hYDRT1cOKnwO1tSAS5dNvpMLFBjEYoQUr3_9iqULT-3s-cDfUdG_aykZ1Zxd5lpzD_2Ncz_NrIQojm47m1TaWperDddrWVFK9R40XW6BAtitxHMHTeRzSKV8" alt="Coinbase Pro interface" title="Coinbase Pro interface" width="624" height="356"></p><h3>Features</h3><p dir="ltr">Coinbase Pro offers some extra trading options including stop-limit orders and enhanced market graphing. Using Coinbase Pro is by no means required because these features and data might be confusing and pointless for novice and casual traders.</p><p dir="ltr">Address whitelisting is an additional security feature available on Coinbase Pro. This adds an additional layer of security to your transactions by preventing you from sending crypto to anyone who isn't a trusted contact on your account's address list.</p><h2>Fee</h2><p dir="ltr">You must open a Pro account in order to utilize Coinbase Pro at no cost. You may instantly link your basic and Pro accounts with Coinbase to transfer money between them.</p><p dir="ltr">Opening a Coinbase Pro account may be helpful if you're seeking a more in-depth, advanced experience even though Coinbase can be used for the majority of your crypto trading needs. However, if you want the best of both worlds, you can switch between the two versions!</p><h2>Is Coinbase safe?</h2><p dir="ltr">It makes sense to question the security of Coinbase, especially if you are making significant investments. Additionally, the platform is still very new. Although two-factor authentication and other security features make Coinbase a generally safe platform, <strong>it is not immune to attacks</strong>. Online claims of Coinbase consumers having their accounts drained overnight may be found with a basic search. One reason for these incidents, according to experts, is SIM switching.</p><p dir="ltr">Even if this may seem alarming, you don't necessarily need to avoid Coinbase. You can take steps to make it even more challenging for potential hackers, such as using a so-called non-custodial wallet. A hardware wallet is an additional choice. These many wallets are designed to enable you to store your money independently of Coinbase. They give you the option to store your own cryptocurrency utilizing hardware, software, or app. The wallet, which is where your cryptocurrency is really held, won't be accessible even if someone gains access to your Coinbase account.</p><p dir="ltr">The drawback of this strategy is that you have to keep in mind your own password, which is also referred to as a private key. It's likely that they have a non-custodial wallet if you've read stories about people losing millions after being locked out of their cryptocurrency wallets. Although this method is safer, it is your responsibility to make sure you have access to your money.</p><h3>Coinbase and recent problems</h3><p dir="ltr">Many users say that Coinbase provides terrible customer service, and some users are concerned that the exchange will go bankrupt and suspend their accounts as a result of the huge loss it suffered in the first quarter of 2022.</p><p dir="ltr">In addition, if you use a bank transfer, the deposit period lasts a few days. Additionally, fees for network transactions and miner fees can be very expensive. It makes it reasonable that so many individuals would look for an alternative to Coinbase.</p><p dir="ltr">Besides, recently, Coinbase announced the launch of its ETH2.0 staking token. The announcement of the cbETH launch comes at a time when Coinbase is at the center of numerous investigations. Starting with the incident where the former Coinbase Product Manager was arrested for insider trading, followed by a series of legal actions from the US Securities and Exchange Commission (SEC), accusing the exchange of listing 9 security tokens as well as lawsuits against Coinbase for making “false and misleading statements” about its business.</p><p dir="ltr"><em><strong>&gt;&gt;&gt; Read more </strong></em><a href="https://www.builder.news/crypto-insights/whats-happening-to-coinbase-RsKAq" alt="What left after recent “problematic” headlines around Coinbase?" title="What left after recent “problematic” headlines around Coinbase?" target="_blank" rel="" class=""><em><strong><u>What left after recent “problematic” headlines around Coinbase?</u></strong></em></a></p><h2>Bottom line</h2><p dir="ltr">For individuals who are new to cryptocurrencies, using Coinbase is a simple way to get started. With just a few clicks, users may purchase and trade cryptocurrency thanks to its simple interface. Although not all cryptocurrency types are supported, several of the most well-known coins are. Also keep in mind that the costs on Coinbase can add quickly, especially when purchasing tiny quantities of cryptocurrency.</p><h2>FAQs on Coinbase</h2><h3>What cryptocurrencies does Coinbase support?</h3><p dir="ltr">On Coinbase, there are more than <strong>120</strong> different coins.</p><p dir="ltr">The Coinbase website has a comprehensive list that you may access. Check <a href="https://help.coinbase.com/en/coinbase/supported-crypto.html" alt="List coins support on Coinbase" title="List coins support on Coinbase" target="_blank" rel="nofollow" class=""><u>HERE</u></a><u>.</u></p><h3>How to cash out from Coinbase?</h3><ul><li><p dir="ltr">Step 1: Access Coinbase</p></li><li><p dir="ltr">Step 2: Hit "Withdraw."</p></li><li><p dir="ltr">Step 3: Decide on "Preview withdraw."</p></li><li><p dir="ltr">Step 4: Choose a bank account.&nbsp;</p></li></ul><p dir="ltr">One to three business days are needed for the transfer. For a modest cost, you can also choose to add a debit card for an immediate transfer.</p><h3>Is there any alternative for Coinbase?</h3><p dir="ltr">The platform's user design and fees might not be the favorite of everyone. Also, Coinbase is a preferred option for the majority in the United States. However, there are Coinbase alternatives you may use to reduce transaction costs, invest in stocks and cryptocurrencies simultaneously, automate transactions, and purchase or withdraw money using regional payment methods. Some options to choose from such as <em>Gemini, Robinhood, Kraken, Crypto.com, or BlockFi.</em></p><div class="pr-block-special"><strong>Disclaimer:</strong><br>This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.<br></div>

Coinbase is a wonderful option for cryptocurrency traders to buy and sell their preferred coins. But is it safe to use Coinbase? How much are the fees? What distinguishes it from Coinbase Pro, its sibling platform?

Coinbase: An in-depth look at a beginner’s exchange