Coinbase Review

Is Coinbase safe? What are Coinbase’s fees? Is it a legit place to buy cryptocurrency, or are there better options?

Read on to learn!

Is Coinbase Safe?

Yes, Coinbase is a crypto company based in San Francisco, and backed by trusted investors. As of August 2020, it has raised over $547 million.

Coinbase's funding rounds

Coinbase is the world’s largest Bitcoin exchange and broker. With their exchange, called Coinbase Pro you make buy and sell offers to other users on the platform and Coinbase takes a cut of the deals.

With the brokerage, you simply buy crypto directly from Coinbase at the price they offer (there is no bidding on the brokerage side).

We will discuss Coinbase’s safety in greater depth in Chapter 1, but throughout this review, you will learn all the answers to your questions about Coinbase and its products.

Coinbase Compared

This table compares Coinbase to other popular exchanges.

Please note that Coinbase fees are approximate and may vary based on your country or purchase size.

Chapter 1

Is Coinbase Legit?

Because of how famous Coinbase is, many wonder if Coinbase is a safe place to buy, sell and store Bitcoin (BTC) and Crypto from.

In this chapter we will walkthrough the various types of safety coinbase is good and bad on.

The short answer is “yes, Coinbase is a legitimate cryptocurrency exchange and broker”. That is because of its high profile investors and highly regulated location (San Francisco).

Coinbase is very unlikely to run away with your money.

Coinbase has also never experienced a hack despite holding lots of customer funds that hackers would love to steal. This indicates that Coinbase does a very good job of keeping the platform safe for customer funds.

In fact, Coinbase is so good at preventing hacks, it is able to keep its own users from falling victim to scams that happen off the platform:

Coinbase successfully prevented its users from sending some $280k of Bitcoin to the hackers who cracked twitter in mid 2020.

But the way it is able to prevent hacks like these from affecting users requires users to give up some privacy and control of their digital assets.

Like most Silicon Valley companies, Coinbase is not very good on privacy. If privacy is important to you, almost any other major US exchange would be better. Coinbase has also been known to freeze customer accounts as soon as they see anything that is suspicious. In most cases, this is meant to protect you from unauthorized users gaining access to your account but in some cases, this has also occurred to customers for merely using privacy-enhancing technology like Tor and CoinJoins when using Coinbase.

Coinbase is believed to block anonymizing Bitcoin transactions known as 'CoinJoins'.

Therefore, in terms of account security and trustworthiness, Coinbase is quite good (maybe the best). But on privacy, Coinbase scores low. If privacy is not a huge concern for you and you just want to buy bitcoin, Coinbase is a great choice. If privacy is important for you and you want to know more, you can check out Chapter 5.

Is it safe to store coins on Coinbase?

This all brings us to storage.

One rule that you should follow with any exchange (not just Coinbase) is that you should never store your Bitcoin or other crypto on an exchange. After you buy crypto from Coinbase, you need to move it to a wallet you control that is off of Coinbase.

The Ledger Nano X is our top pick for where to store your coins after you buy them from Coinbase.

Why?

Because as we mentioned before, there are a lot of hackers that would love to steal all the coins off of Coinbase (and every other exchange). While Coinbase has never suffered a hack, that doesn’t mean they never will. If they do get hacked, you are unlikely to ever get your digital assets back.

Thankfully, it is incredibly easy to move them off the exchange as soon as you buy them.

Chapter 2

How Does Coinbase Work?

Before we get into how to set up an account on Coinbase or show you how to buy crypto, it's worth taking a look at Coinbase's paltform in greater detail.

In this chapter, we will cover some specific metrics that will matter when you use the Coinbase Platform

How Does Coinbase Work?

Coinbase’s simple interface aims to make it easy for first-time buyers to purchase bitcoins using payment methods you are used to.

Coinbase's clean UI makes it easy to use for beginners.

The most popular payment methods for Coinbase customers are buying with a debit card, and also using a bank transfer.

There’s a full guide that shows you how to buy on Coinbase using a debit card in Chapter 5.

However the experience of using Coinbase is not the same for every country. Below, we cover which countries are supported by Coinbase, which payment methods they accept, and we also cover the kinds of fees each resident will pay in their country depending on the payment method they use to buy crypto.

Does Coinbase Support Your Country?

Coinbase offers its brokerage services in the United States, United Kingdom, Canada, Singapore.

Coinbase also supports the following European countries:

Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom.

You can find all of the specifics of each country on Coinbase's country page.

In North America, Coinbase supports Canada, the USA and Mexico.

In South America, Coinbase only supports customers in Chile via debit card payment.

Please note that fees are approximate and may vary based on your country or purchase size.

Coinbase Supported Coins

Coinbase supports dozens of coins, but which ones you can buy and sell depends heavily on which country you live in.

Some of the coins offered on Coinbase and sorted by country.

You can see the full list of coins offered at Coinbase’s help desk.

Limits & Liquidity

Coinbase offers very high limits. Limits depend on your account level, which is determined by how much information you have verified. Fully verified U.S. customers may buy up to $50,000 worth of bitcoin daily.

European customers may have a maximum of €30,000 euro in their account at any time.

Coinbase Payment Methods

Coinbase fees are quite high. Credit and debit card purchases are charged a 3.99% fee and bank transfers are charged a 1.49% fee.

Coinbase supports only 3 payment methods: debit cards, wire transfers, and bank transfers.

Deposit Fees and Deposit Times

Coinbase users in nearly any country can convert between cryptocurrencies, but cannot always convert local currency into crypto.

Withdrawal Fees and Withdrawal Times

The time it takes for the bitcoins to arrive in your wallet and be spendable depends on your country and payment method used.

United States

Instant buy will allow fully verified users to buy up to $1,000 worth of bitcoin (BTC) per week. Level 2 users with instant buy are able to instantly buy up to $100 worth of bitcoin per week.

Debit Card: If a debit card is used, delivery of bitcoins is instant once ID verification as been completed.

Bank Transfer: U.S. customers will receive their bitcoins five business days from placing an order when using bank transfer.

Canada

Canadian EFT purchases take four days to complete. Interac Online purchases are instant!

Europe

European users paying with SEPA transfer will receive bitcoin within 1-3 days.

Customer Support

Coinbase has a knowledge base and email support.

Coinbase's email support page.

Coinbase “Community” can be used to ask questions and get support help.

Coinbase Compared

This table compares Coinbase to other popular exchanges:

Crypto to Crypto Trading

Customers from over 100 countries can trade crypto to crypto. Coinbase recently launched this feature.

Chapter 3

Step-by-Step Guide to Using Coinbase

While Coinbase is beginner focused, the process of setting up an account, adding funds, and purchasing currencies can still be less than straightforward.

This guide will teach you every you need to know about Coinbase.

Creating an Account

To set up an account, first visit the Coinbase website and click “Sign Up”.

You will then be directed to begin setting up your account. Fill in your name, email, password, and location. Complete the captcha, then certify that you are over 18 and agree to the Coinbase user agreement and privacy policy.

After continuing, access your email and follow the verification link.

Select your country and add your phone number.

A 7-digit code will be sent to your phone, and you will be directed to enter this code.

After entering the code, you may or may not be directed to verify your ID. If you are not, then your account set up is finished for now. If you are directed to verify your ID, that is the next step covered.

Even if you’re not prompted to verify your ID now, you will want to do so anyway, because sooner or later you must verify your ID to purchase or continue purchasing cryptocurrency.

ID Verification

Before you ask, No, you cannot bypass Coinbase ID verification. If you could, no one would do it. Unfortunately, Coinbase will simply lock you out of purchases until you have finished verification.

Because Coinbase is based in the US, they must abide by KYC/AML laws. Know Your Customer (KYC) and Anti Money Laundering (AML) laws require businesses to verify the identity of their customers.

This means customers must divulge a large amount of personal information, including the last 4 digits of their SSN and photos of their ID. To understand how this information is used, read Coinbase’s privacy policy.

Coinbase requires all its users to provide a government issued ID in order to buy and sell crypto.

If you were not prompted to verify your ID directly after entering the SMS code, you do so by clicking the “Buy/Sell” tab. Then select the “Submit ID + Photo Verification” button.

You will then be directed to fill in your personal information.

After filling out this information, you’ll be required to submit a photo ID.

You can upload a driver’s license or other photo ID with a webcam, a mobile camera, or a file upload.

If the photo fails to verify, make sure the photo is clear and no parts of the ID are obscured. If you still cannot verify your ID, then contact Coinbase support.

Once your photo ID is verified, the ID verification process should be complete.

Verification Levels

Coinbase has different levels of verification that affect how much money you can invest and how you can send and receive it.

Optional: Set Up Additional Security

After you verify your ID, you’ll want to increase the security of your account by enabling 2-Factor Authentication (2FA).

Even though this step is optional, we recommend you do it to prevent hackers from gaining access to your account. If you want to set this up later, skip to Chapter 4.

To do this, first select the settings tab.

Within the settings page, select the security tab.

Scroll down to the “Two-Factor Authentication” section, and make sure the verification code is set for any amount of digital currency. Then select the “Enable Authenticator” button.

Enter the 7-digit code sent to your phone.

Coinbase SMS Verification

After you enter the SMS code, Coinbase will generate an authenticator code for you. This will allow you to use 2-Factor Authentication.

2FA is a security measure that generates unique codes based on your authenticator secret code. To use it, download a 2FA app such as Lastpass Authenticator or onto your phone.

LastPass Authenticator is our favorite 1-time password generator.

After downloading, add the Coinbase authenticator code to the app. You can do this by scanning the QR code or by manually entering the authenticator code. The app will now generate 2FA codes for Coinbase that change every few seconds.

Be sure to write down your authenticator secret code and store it somewhere safe. If you get a new phone, or it is lost or stolen, you will need this code to receive 2FA codes.

With 2FA set up, your account will be much more secure.

Chapter 4

How to Buy and Sell on Coinbase

Before buying your cryptocurrency, you will need to add a payment method.

Coinbase offers 3 payment methods: Debit card, bank account, or wire transfer.

In this guide we will cover purchasing with a debit card or with a bank account.

Adding Payment Methods

To add a payment method, first select the “Settings” tab in the top middle of the page.

Within the Settings page, select the “Linked Accounts” tab.

Click the “Link a New Account” button.

You will then be able to select which payment method to add.

Debit Card

Debit cards are best for purchasing smaller amounts quickly. Any debit card purchase will instantly transfer the cryptocurrency to your account, which is best if you want to quickly trade it for another cryptocurrency.

However, debit cards have much lower purchase limits than other payment types. Their limits may start as low as $300 per week.

Debit card purchases also have high fees at 4%.

To link a debit card, select that option then fill out your debit card information.

Unfortunately, if you only have a credit card, you cannot use it at this time.

After filling out your card information, Coinbase will send 2 pending charges to your account. To verify your card, enter the the last 2 digits of the charge. You will not be charged for these transactions. If you see 3 charges, ignore the charge that is $1.00.

Bank Account

Bank Accounts are better for larger purchases, but they are not immediate like debit cards.

When you make a purchase with a bank account, the price you pay is locked in the moment you purchase, but you will not receive your cryptocurrency until 4-5 business days have passed.

So if the value of the currency you bought goes up over that time, you will have made money. Of course, if the value goes down, you will have lost money. Additionally, you don’t own the funds until the 4-5 business days have passed, so if you want to trade for another currency, you’ll be unable to do so until the time passes.

However, bank account purchases do have some major upsides. The limits on bank accounts are much higher, starting at $7,500 per week. The fees are also much lower, at 1.5%.

To link a bank account, select it from the payment method selection.

Then choose your bank from the list.

After choosing your bank, enter your bank user ID and password.

If this method fails, or if you cannot find your bank, you can manually add your bank account by giving your routing number. You’ll then be sent 2 deposits to verify. This process will take around 5 business days, as opposed to the other method, which offers instant connection.

Purchasing Cryptocurrency

With your account all set up, you can finally buy some cryptocurrency!

Click the “Buy/Sell” tab at the top of the page. Select the type of cryptocurrency you want, the fiat payment method, and the amount in dollars. You will then be directed to confirm your purchase.

You may also have to enter your 2FA code to confirm the purchase.

Selling cryptocurrency is a very similar process. The main difference is that you cannot sell cryptocurrency using a credit card (unless you are a UK or EU resident). You must sell using either a bank account or a USD account that will hold your money on Coinbase.

Depositing/Sending Cryptocurrency

To deposit cryptocurrency to your Coinbase account, or to send it to another account, first select the “Accounts” tab.

To deposit currency, navigate to your desired cryptocurrency then select “Receive”.

Coinbase will then generate an address for you to send your cryptocurrency to. Be sure to send only that cryptocurrency to that wallet. For example, you cannot send Bitcoin and Bitcoin Cash to the same wallet, or one will be lost. Also, be sure to use your own address and not the example one shown in the picture.

To send cryptocurrency to another address, click the “Send” button.

Next, enter the desired recipient address and the amount in dollars that you would like to send.

You will then be required to enter your 2FA code to complete the transaction. You will also notice an additional miner fee for sending currency. This fee does not go to Coinbase, it is sent the miners who keep the network running.

Now that you know how to set up an account, buy/sell, and deposit/withdraw, you should have all the knowledge you need to start buying and cryptocurrency trading.

Chapter 5

Privacy on Coinbase

Coinbase offers some of the best uzer experiences of any exchange on Earth.

It's also able to protect you from making mistakes or falling victim to hacks.

In this chapter, we will discuss what you give up to in order to get these benefits: privacy.

Is Your Privacy Kept While Using Coinbase?

When you sign up for an account on Coinbase, your name, phone number, email, and a number of other personal details are required.

You will be required to take a picture of your driver’s license or passport if you are purchasing with a debit card. This is all normal procedure for a regulated crypto exchange like Coinbase where they must comply with KYC and AML laws.

Coinbase knows your addresses and balance at all times and can connect this with your identity and IP address. You must trust Coinbase’s nodes to verify transaction data.

Each payment request uses a new address, which helps prevent other users from connecting Bitcoin addresses together.

Coinbase received a score of 11 out of 100 from the Open Bitcoin Privacy Project’s Spring 2015 report.

As far back as 2014, There have been reports that Coinbase tracks how its users spend bitcoin.

This suspicion was confirmed as recently as 2019 when it was revealed that Coinbase had acquired Neutrino.

Neutrino is a tech company focusing on analyzing blockchains in order to discover the identities behind addresses on those chains. Coinbase acquired this company so that they could reduce the privacy of Bitcoin users everywhere.

It is also worth noting that many of Neutrino’s employees also worked for and/or founded a spyware company called hacking team. Hacking Team sold its products to authoritarian governments in the Middle East to spy on their people and journalists.

Coinbase also recently attempted to sell its data to the Internal Revenue Service (IRS) and the Drug Enforcement Administration (DEA). And it was successful in winning the contract to sell its data to the Secret Service.

If buying coins privately is your goal, Coinbase is not the best option. If you need coins quickly and easily, then Coinbase is a good choice.

Coinbase Compared

This table compares Coinbase to other popular crypto exchanges:

Chapter 6

Frequently Asked Questions

In this chapter, we will answer some of the most commonly asked questions about buying Coinbase's products and services

It's updated regularly, so there is a good chance we've already answered any questions you may have.

What is the Coinbase Network Fee?

The Coinbase network fee is not actually a fee charged by Coinbase. The network fee is the fee the blockchain is charging you to send your coins.

For instance, if you are sending Bitcoins to yourself from Coinbase, the Bitcoin blockchain will charge coinbase a fee to send the coins, since it is the sender who pays all the fees. When Coinbase charges you a network fee, they are just passing on the fee of the blockchain to you so you can pay them back.

What is Coinbase Wallet?

Coinbase wallet is a non-custodial wallet developed by Toshi Holdings Ltd., which is owned by Coinbase.

Unlike the Coinbase app, which lets you buy and sell coins and manage your fiat and coin holdings on the Coinbase platform, Coinbase wallet is like other mobile wallet apps where the private key to your coins is held on your mobile device.

You do not need a Coinbase account to use Coinbase wallet.

In short: when you store your coins on Coinbase, you do not control them. When you store your coins on the Coinbase app, you do control them.

Is it Safe to Link My Bank Account to Coinbase?

Coinbase is a regulated company and holds licenses in all districts in which it operates.

It is backed by major US investors and is not a scam.

So, it’s safe to link your bank account but that does not mean you should ever store bitcoins with Coinbase.

Who is Coinbase’s CEO?

Brian Armstrong is the CEO of Coinbase.

Brian Armstrong, CEO of Coinbase

Why is Coinbase telling me my funds are on hold?

Sometimes when there is lots of cryptocurrency trading activity happening on Coinbase, their system gets overloaded with requests and funds can get locked up. Unfortunately, there is very little you can do about it except wait. You can try contacting customer service, but in most cases they will tell you the holds are automatically flagged by bots and there is nothing they can do about it.

How long you will have to wait for your funds to be released is also inconsistent. Some people have waited months.

For withdrawals of dollars. its the same. You may have your funds put on hold and you may just have to wait.

Does Coinbase Accept Paypal?

As of November 2019, Coinbase began to accept Paypal as a way to withdraw money from the sale of Bitcoin and other cryptocurrency purchases on the platform. You still cannot use Paypal to buy crypto though.

Why Isn’t Paypal Working with Coinbase?

There are many reasons Paypal may not be working with your Coinbase account.

If you are trying to buy crypto using Paypal, Coinbase will not allow this. If you are trying to sell crypto and take the money from that sale through Paypal, then its possible your region does not allow you to do this (US, EU, UK). Only Canada is allowed to do this.

Finally, make sure your Paypal account is properly integrated with your Coinbase account. To do this, you need to make sure your identity is fully verified with Coinbase. Once that is done, go to Settings -> Linked Accounts and click “Link a new account”. On Mobile, you go to settings -> “Add a Payment Method”.

Once there, you can select Paypal, and you will be prompted to login to Paypal. If you do not see Paypal as an option,it means Paypal is not supported on Coinbase in your region yet.

Does Coinbase Charge to Convert Between Cryptos?

Yes, the fee varies based on volume.

Does Coinbase use cold storage?

Coinbase uses a combination of online “hot storage” and offline “cold” storage, maintaining more than 98% of customer digital currency in cold storage.

Can I use a hardware wallet with Coinbase?

You can send coins purchased on Coinbase to a hardware wallet. You cannot however manage coins on a hardware wallet using Coinbase.

What is Coinbase’s insurance policy?

All cryptocurrency from Coinbase’s hot storage is insured. The insurance policy covers any loses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft.

What are stablecoins purposes?

Stablecoins are designed to reduce volatility relative to cryptocurrencies like Bitcoin. Stabelcoins are pegged to a “stable” reserve asset like the U.S. dollar or gold. You can buy some stablecoins on Coinbase. Coinbase also has its own stablecoin called USDC.

Can I send BAT (Basic Attention Token) to Coinbase?

Yes, but only to the BAT (Basic Attention Token) wallet in your Coinbase account.

What is GDAX?

GDAX (Global Digital Asset Exchange) is a crypto exchange platform launched in 2006. GDAX was renamed Coinbase Pro in 2016. GDAX is designed for more professional traders who are highly active.

Bonus Chapter 1

Common Coinbase Scams

In this chapter, we will go over some of the common scams you need to be aware of regarding Coinbase.

Many scammers pretend to be Coinbase in order to get you to hand over your account info.

Let's review the most common ones.

Technical Support Scams

Coinbase will never initiate contact with you via the phone. If anyone calls or emails you claiming to be from Coinbase, be very suspicious, especially if they ask for personal information.

Coinbase reps will never ask for our password or 2 factor auth codes. Be especially vigilant if anyone asks for remote access to your computer.

Coinbase will never ask for your password, two-factor authentication code or remote access to your computer.

David Farmer Coinbase Support

Giveaway Scams

Many scammers will pretend to be Coinbase or famous personalities on social networks like twitter.

In many cases, the scammers will claim that Coinbase is doing a crypto giveaway and that all you need to do is send them a small amount of crypto so they know what address to send your money to.

In reality, the scammer will keep the money and never send you anything.

Coinbase is not likely to do a giveaway like this at any time. Even if they did, they do not need you to send them any crypto in order to send you coins.

This is a very common scam that doesn’t always involve impersonating coinbase, so don’t ever fall for it, regardless of who you think is offering the giveaway.

Phishing Scams

This is a very common ploy where a scammer created a website that looks exactly like Coinbase (or any other exchange) and tries to lure you to that URL instead of the real coinbase.com.

Once you input your credentials, the site will tell you that the credentials are not correct and to keep trying new usernames and passwords. While you do this, a bot is taking those credentials and trying them on the real coinbase so they can withdraw any funds you have on deposit.

A user on reddit reporting a fake version of Coinbase's website.

The best way to combat this scam is to always type in coinbase.com into your browser by hand. Do not use shortcuts or follow links in emails or on twitter. URLs can be hidden in hypertext and you won’t even notice you are on a dummy site unless you check the site headers yourself.

This is how real a fake coinbase website can look - hint: check the URL.

Telegram Scams

Scammers on Telegram will often pretend to be Coinbase hoping you reach out to them for tech support. Do not give any personal information about yourself at all to anyone on Telegram claiming to be with Coinbase. As Coinbase notes,

Coinbase is NOT currently active on Telegram and any entity making claims or representations that they are affiliated with Coinbase Support are unauthorized to do so and should NOT be trusted.

Coinbase Support Team

Bonus Chapter 2

Coinbase vs Coinbase Pro

It would be easy to confuse Coinbase for Coinbase Pro.

However, the two platforms are really quite different.

In this bonus chapter, we will discuss the biggest differences between Coinbase and its Pro product.

Coinbase is one of the most popular Bitcoin brokers – in fact, its user base has surpassed that of stock brokerage Charles Schwab. Coinbase’s popularity skyrocketed in 2017, along with the price of Bitcoin.

Coinbase Pro – also owned by Coinbase – has also seen a similar amount of growth.

What is the difference between Coinbase and Coinbase Pro?

Buying cryptocurrency is confusing, especially if it’s your first time.

Coinbase Pro is for more advanced users. It has features like bid ask spreads, price charts, order books, market orders, limit orders, and stop limits can be overwhelming to take in all at once for new buyers.

Coinbase is designed for ease of use, targeting first time buyers. Their simplistic platform makes it easy for anyone to buy or sell Bitcoin, Litecoin (LTC), Ethereum (ETH), Ripple (XRP) regardless of their prior experience.

Users can buy or sell using a bank transfer or debit card while enjoying high liquidity. The website doesn’t display fancy price charts, nor does it show any form of order book. The only options available to Coinbase users are to buy and sell.

Coinbase has a simple and easy to understand interface (see image above).

Coinbase Pro only allows you deposit using ACH bank transfer (USA), SEPA transfer (Europe), or wire transfer.

Coinbase’s basic buying platform is perfect for the Bitcoin buying beginner – however, its simplicity comes at a cost.

Coinbase vs Coinbase Pro Fees

When compared to Coinbase Pro, Coinbase’s fees are pretty hefty. They charge a 3.99% fee on debit card transfers and a 1.49% fee on bank transfers.

Coinbase Pro, on the other hand, charges significantly less than Coinbase. If you play your cards right, you won’t have to pay a cent – that’s right, zero trading fees.

Coinbase Pro charges 0.1% to 0.25% for taker trades, and no fees at all for maker trades. As long as you place limit orders, you won’t have to worry about paying a fee.

What’s more, if you have a Coinbase account, you already have a Coinbase Pro account. Simply log in to Coinbase Pro with your Coinbase credentials. Better still, you can transfer funds instantly between Coinbase and Coinbase Pro.

Coinbase vs Coinbase Pro Price

Coinbase’s price is based on the Coinbase Pro price, but is usually somewhat higher. This means Coinbase has somewhat of a hidden premium.

For example, as I write this the price on Coinbase Pro is $56,506.32 but the price on Coinbase is $56,576.28. So Coinbase has marked up its prices somewhat.

Coinbase Compared

This table compares Coinbase to other popular exchanges:

• Is Coinbase Safe?
• Coinbase Compared
  • Is it safe to store coins on Coinbase?
• How Does Coinbase Work?
• Does Coinbase Support Your Country?
• Coinbase Supported Coins
• Limits & Liquidity
• Coinbase Payment Methods
  • Deposit Fees and Deposit Times
  • Withdrawal Fees and Withdrawal Times
  • United States
  • Canada
  • Europe
• Customer Support
• Coinbase Compared
• Crypto to Crypto Trading
• Creating an Account
  • Verification Levels
• Optional: Set Up Additional Security
  • Coinbase SMS Verification
• Adding Payment Methods
  • Debit Card
  • Bank Account
• Purchasing Cryptocurrency
• Depositing/Sending Cryptocurrency
• Is Your Privacy Kept While Using Coinbase?
• Coinbase Compared
  • What is the Coinbase Network Fee?
  • What is Coinbase Wallet?
  • Is it Safe to Link My Bank Account to Coinbase?
  • Who is Coinbase’s CEO?
  • Why is Coinbase telling me my funds are on hold?
  • Does Coinbase Accept Paypal?
  • Why Isn’t Paypal Working with Coinbase?
  • Does Coinbase Charge to Convert Between Cryptos?
  • Does Coinbase use cold storage?
  • Can I use a hardware wallet with Coinbase?
  • What is Coinbase’s insurance policy?
  • What are stablecoins purposes?
  • Can I send BAT (Basic Attention Token) to Coinbase?
  • What is GDAX?
  • Technical Support Scams
  • Giveaway Scams
  • Phishing Scams
  • Telegram Scams
  • What is the difference between Coinbase and Coinbase Pro?
  • Coinbase vs Coinbase Pro Fees
  • Coinbase vs Coinbase Pro Price
• Coinbase Compared
  • Coinbase Pro vs Coinbase Liquidity
• Supported Countries
• Mobile Use
• Withdrawal Coinbase Fees
• Footnotes

Coinbase Pro vs Coinbase Liquidity

As far as Coinbase Pro’s liquidity goes, you won’t have to worry. Deposits of USD, Bitcoin, Ethereum (ETH), Litecoin, Ethereum Classic (ETC), Ripple (XRP), 0x Project (ZRX) and BCH to your Coinbase Pro wallet are unlimited. Individuals can withdraw up to $10,000 per day and businesses can withdraw up to $50,000 per day. Higher withdrawal limits can be made available to you upon request.

Supported Countries

Coinbase Pro and Coinbase support almost the same countries.

Both Coinbase Pro and Coinbase support the following countries:

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United States.

Customers from Singapore, Canada and Australia can only use Coinbase, but are not able to use Coinbase Pro.

Mobile Use

Coinbase has mobile apps for Android and iOS.

There is no mobile app for Coinbase Pro, although the mobile version of the site works quite well on tablets and smartphones.

Withdrawal Coinbase Fees

Coinbase makes you pay the standard Bitcoin transaction fee, which is usually about $0.10.

Coinbase Pro has no withdrawal fees and pays the Bitcoin, Ether and Litecoin transaction fees for you.

Footnotes

Review By: Jordan Tuwiner

Rating: 4.2