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Coinbase

Name of Exchange
Coinbase
Current Price (USD)
$5,525.43
Fee Schedule
Rotate device for more
Deposit Method
Currency / Country
Fees
Bank Transfer MIN$100 MAX (Day / Month)$2500 / week
USD, EUR, & Many MoreUSA, CA, EU
1.49%2-3 days
Credit / Debit MIN$20 MAX (Day / Month)$150/week
USD, EURUSA, CAD, EUR
3.99%Near Instantly
PayPal MIN$20 MAX (Day / Month)$150
USDUSA
3.99%Near Instantly
Leverage Trading Allowed
None

Overview

Coinbase is the largest USA facing bitcoin exchange online.

US, and North American custoemrs can buy bitcoin with a credit card, bank transfer and bank wires.

You can turn normal money (US dollars) into bitcoin, ethereum and litecoin. You can then sell bitcoin for USD and wire it out to your bank.

Coinbase is designed for newbies who want to buy their first crypto currency. There is hardly an easier or safer place to buy your first bitcoin than Coinbase.

Promo – Buy $100 worth of bitcoin or ethereum and get $10 free bitcoin here.

Editors Note: Feb 16th – Coinbase payment processor is multiple force charging people’s banks due to changes in how crypto purchases are handled. Caution!

Who Should Use Coinbase?

I recommend Coinbase for the following people:

  • You are a first time bitcoin buyer
  • You want a safe and secure place to buy bitcoin
  • You want to pay with a credit card or bank transfer
  • You are fine with providing identification
  • You are NOT looking to use their built in wallet to gamble online (you’ll want your own wallet if you want to bet btc)

If some of those things are you, then Coinbase is a fantastic solution.

Is Coinbase Legit? (Yes)

Even though Coinbase shut my account down in February I say they are legit.

I am the one who broke their terms and conditions (Oh no I played a little online slot machines and got a payout from an online casino) which violated their terms.

So, they shut me down.

Still, they are the real deal. They are the largest USA based and US facing BTC exchange out there.

While they will absolutely shut your account down if they see that you are gambling or breaking any of their terms of service, they have always made right by their customers. People who have had accounts shut down end up getting all of their money out.

They even did a 180 regarding Bitcoin Cash Coins which were generated at a 1/1 ratio for how much ever bitcoin you had in your coinbase account. At first they were not going to support it, but after backlash they made right to benefit their clients the most.

They are large and quite frankly, in-charge when it comes to USA btc exchanges where you can sell your bitcoin for USD and get a wire out to your bank.

You can buy bitcoin, litecoin and ethereum here. You can also utilize their built in exchange, GDAX to trade larger sums of BTC for lower fee’s.

Full Coinbase Review – Facts and Details You Should Know

There is something to be said about ease of use for new bitcoin buyers. Let’s face it, bitcoin is fairly confusing on its own. Having a trusted and reputable place to get your first bitcoin helps all of us keep our mind at ease.

How To Buy Bitcoin at Coinbase

You have two options when buying bitcoin on coinbase as far as funding your account.

You can use a credit card and buy up to $150 worth of BTC on your first day with a basic account level. I am in the process of creating a step-by-step guide to buying bitcoin at coinbase for the first time.

Bonuses

$10 Free in Bitcoin

Get $10 free worth of bitcoin when you purchase your first $100 worth.  Free bitcoin is free bitcoin, you may as well take advantage of this offer.

Pros & Cons

Established reputation
Super simple buying process
Integrated exchange called GDAX
May track how its users spend bitcoin
No gambling - your account will be shut down.

Verification

Types of Verification

Government ID, Email, Phone

Verification Process

Coinbase follows KYC policy. You have to verify your account to buy bitcoin with credit cards or bank transfers. You can use a government ID and or drivers license for verification.

Accounts with balances are also required to utilize the google authenticator app for two factor authentication.

Limits & Liquidity

The limits depend on your deposit method and account levels.

  • Credit / Debit Cards = $150 / week
  • Bank Account = $2500 / week
  • USD Wallet = $10,000 / week

You can increase these limits by uploading your ID and providing government documentation for identity verification.

Screenshots

Frequently Asked Questions

Do coinbase have a wallet?
Yes, Coinbase has a built in wallet. There are also additional storage options once your account is created.
How long does it take to withdraw?
It depends on your withdrawal method. Bank transfers take a couple of banking days. Crypto withdrawals are processed within minutes.

Final Coinbase Thoughts

Coinbase is great for first time bitcoin buyers. They do have their issues though. Most notably their service was completely down during the extremely volatile price swings. People were trying to set up and cancel trades but could not access the system. Instead of cancelling trades like stop-losses, those where hit and executed even though users were trying for hours to log in and adjust them. Being down during critical times is my biggest criticism of Coinbase. Their fee’s are higher than some places but they do offer a lot with their service. If you are trading you can open an account at their built in trading platform called GDAX, where you can buy and sell for lower fee’s via their trading engine.

I recommend new users to start out at Coinbase. Visit Coinbase and get $10 worth of bitcoin free when you purchase your first $100 worth, just by using any link from this website.

Name of Exchange
Coinbase
Current Price (USD)
$5,525.43

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jason
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Coinbase was the first place I bought Bitcoin. It was easy and to get my bank hooked up took a few days. They require ID and all that.

I also learned the hard way that you should not have any gambling transactions with your coinbase account or they will shut your account down.

User Ratings

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Total: 9 Average: 4.2