Is Coinbase a Safe Exchange to Buy Cryptocurrency?

With over 13.3M active users, there are few exchanges that are as trusted and reliable as Coinbase.

If you want to buy cryptocurrencies with your fiat money (USD, EUR, etc.), Coinbase may be the exchange for you.

In this Coinbase review, I will cover the basics of Coinbase including what it is, how it works, its advantages and disadvantages and whether it is right for you.

By the time you’re finished reading this Coinbase review, you’ll have a good understanding of Coinbase and what it offers. More importantly, you’ll able to decide whether Coinbase is the right exchange for you!

Coinbase is a digital currency broker exchange where you can buy and trade Bitcoin and a few other cryptos.

We may receive compensation when you use Coinbase.

This post contains affiliate links.

Disclosure.

Coinbase is the world’s largest Bitcoin exchange, so this is a common question.

Yes, Coinbase is a Bitcoin company based in San Francisco, and backed by trusted investors.

Coinbase is the world’s largest Bitcoin broker, and also offers an exchange, wallet, and developer API.

On this page we’ll review Coinbase and its brokerage, exchange, and wallet.

Coinbase’s simple interface aims to make it easy for first-time buyers to purchase bitcoins.

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

There’s a full guide at the bottom of this post that shows you how to buy on Coinbase using a credit card.

Coinbase supports 55+ countries.

If you’re reading this Coinbase review, chances are this is the main question you’re asking. The short answer is yes, but we’ll take a closer look at this in three parts below.

As a company operating in the United States, Coinbase is required to comply with U.S.

laws and regulations, at both a federal and state level.

Here are some of the laws, regulations, and regulatory bodies that Coinbase complies with:

These regulations and laws force accountability onto Coinbase, something that may be lacking from some of their offshore competitors in other countries with less strict regulations.

It’s also worth noting, Coinbase has many trustworthy investors backing the company. These investors include Alexis Ohanian (Reddit Co-Founder), Bank Of Tokyo, Blockchain Capital, and Digital Currency Group.

Coinbase segregates customer funds from company operational funds.

Get started is fast, secure, and designed to keep your personal info safe.

To prevent identity theft or fraud, you’ll need a photo ID to make sure it’s really you.

Get started with as little as $25, and you can pay with a debit card or bank account.

Coinbase is based in San Francisco and trusted by 30+ million customers worldwide.

Industry-leading security and insurance means your crypto and personal info are safe.

Download the Coinbase app and take control of your crypto everywhere you go.

A lot of customers hold onto their Bitcoin in the hope that its value goes up. You can store your Bitcoin in your Coinbase account or transfer it to a private wallet.

Please note that Coinbase no longer supports this browser.

Coinbase is among the most popular cryptocurrency exchanges.

It was founded back in June 2012.

Since then, Coinbase has grown to over 10 million users and has traded over $50 billion. It is based in San Francisco, California, which means Coinbase must adhere to U.S. As such, Coinbase offers a few extra security measures and protections that other exchanges don’t. Even so, you should do some research into how safe Coinbase is before using the platform.

This article deals with Coinbase security, if you’d like to find out more about this exchange then see our full review and comparison we carried out of Coinbase vs GDAX.

Among other security measures, Coinbase stores 98 percent of customer funds offline, preventing loss or theft.

With over 13.3M active users, there are few exchanges that are as trusted and reliable as Coinbase.

If you want to buy cryptocurrencies with your fiat money (USD, EUR, etc.), Coinbase may be the exchange for you.

In this Coinbase review, I will cover the basics of Coinbase including what it is, how it works, its advantages and disadvantages and whether it is right for you.

By the time you’re finished reading this Coinbase review, you’ll have a good understanding of Coinbase and what it offers. More importantly, you’ll able to decide whether Coinbase is the right exchange for you!

Coinbase is a digital currency broker exchange where you can buy and trade Bitcoin and a few other cryptos.

Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.

Created in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase’s reputation lies with its presence in 32 countries across the world – especially in the USA, UK, and Brazil, which represent their largest customer bases, respectively.

Did you know? In 2013, Coinbase asked Vitalik Buterin to come in for a chat.

They nearly offered him a job on their team.

This didn’t happen though, as Vitalik went on to create Ethereum early the following year. It seems Coinbase have always had a very positive view of Ethereum, its applications, and potential.

Here is an interview of CEO Brian Armstrong in 2015 where he talks about Coinbase:

Investing is speculative. When investing your capital is at risk.

I’ve been a Coinbase user since 2013 and a lot can be said about the company, good and bad. In this review, I’ll try to give you the full rundown so you can evaluate for yourself if Coinbase is trustworthy or not.

Coinbase is the one of the biggest cryptocurrency companies around, supporting 42 countries, with more than 20 million customers around the world.

Coinbase has a wide array of services but their main service allows users to buy and sell Bitcoins through a bank account, credit card and debit card. The rates you’ll get on Coinbase are fair in general, however the customer support is terrible.

That’s Coinbase in a nutshell.

If you want to get familiar with Coinbase in depth, keep on reading.

Here’s what I’ll cover in this review:

Founded in 2012 by Brian Armstrong and Fred Ehrsam as part of Ycombinator, Coinbase is one of the oldest exchanges around.

Coinbase is the world’s largest Bitcoin broker around.

It is available to users in over 30 countries especially in the United States, the United Kingdom, and Brazil, which represent their largest customer base – and has more than 4 million customers around the world. It was founded in 2012 as part of Ycombinator, which means that Coinbase is also one of the oldest crypto trading platforms around.

Customers can purchase and sell Bitcoin with a connected bank account, SEPA transfer, Paypal account (selling only), Interac Online, and many more payment methods. This cryptocurrency exchange has started out only as a broker (selling Bitcoins directly to customers). However, in May 2016 Coinbase started operating GDAX – which is now called Coinbase Pro.

I am new to crypto currency doing a lot of research within the last two or three weeks. Though I see a lot of hate to Coinbase did something change or has Coinbase always had problems?

Is Coinbase safe? It seems like most of any sites need Bank information or some forum of ID.

I have not played with moving around money yet. I just ordered a Ledger Nano S.

Coinbase is a good place to start.Fast growth and government regulations have caused some recent customer service issues which is where most of the complaints stem from. Be sure to review the Coinbase policies.

I’m looking into creating an account there since it seems like the predominant site for selling and trading but I have no way of gauging how safe it is to use.

It’s probably the safest providing you don’t break any of their copious terms and conditions.

In saying that, don’t leave your coin on there too long. Buy your Bitcoin and send it to your own wallet.

Coinbase is a bank. If, at all, use only for purchases and immediately get in control of the coins by transferring them to wallet where you control the keys!

I guess somebody said exactly the same thing about mt.gox back in time. So it’s safe, until the inferno starts? Will your funds still be accessible at that point? Dunno.

Embarrassed to say I have a few hundred in BTC and Bch just sitting in my account…

Of course it not safe.

Exchanges get hacked everyday.

Coinbase is an exchange.

But it’s one of if not the safest exchange plus they keep the vast majority offline so even if they got hacked they would easily be able restore what was stolen out of their own pockets without customers losing anything.

Edit. I should add that the biggest risk is that the customer themself gets hacked.

Not really.

You only really want it there while you trade.

However, a few hundred dollars isn’t going to be a high priority wallet.

I’m not aware of Coinbase deposits getting hacked before, but it’s certainly more risky than (properly) keeping it in your custody.

And if not what is a noob friendly wallet with both PC and Android support?

Edit: Thanks for the great feedback, i have decided to move all my assests to Electrum, i really do appreciate how helpfull this comunity is.

It’s not best practice but don’t listen to the people that tell you it’s dumb. If you know enough to secure your own money than that is a far better option but if you have not yet put in the effort to learn you might make a mistake so letting coinbase handle it is a fine option.

Just deposited £500 into my Coinbase account, I have never purchased any bitcoins before.

Is Coinbase safe? and reliable.

I have seen people saying its better to have your own wallet, I am not sure how this works.

Any advice is appreciated.

I’ve never had a problem.

Buy a Ledger Nano wallet if you’re planning on spending a lot and move it off the exchange.

You should absolutely have your own wallet. Rule #1 if bitcoin ‘not your keys, not your coins’

While you are waiting for the trezor to arrive.

Use the mobile wallet ‘blockstream green’ to secure your funds.

Make sure to keep your 24 word backup seed safe.

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