Coinbase was founded in June 2012 as a digital currency wallet and platform where merchants and consumers could transact using new digital currencies such as Bitcoin, Ethereum, and Litecoin. Currently, Coinbase has over 11 million users, with over 38 million wallets created, 47,000 merchants, 11,000 developer apps, and over $20 billion in digital currency exchanged from 32 countries around the world on the platform. Headquartered in San Francisco, California, Coinbase was created to make Bitcoin, Ethereum, and Litecoin easy to use, by building a trusted brand in the digital currency space thereby becoming a global leader in digital currency integration.
To become a user, one has to open an account on the platform where they can securely store their digital currency. The new user then connects their Coinbase account to their bank account, debit card, or credit card, so they can exchange digital currency in to and out of their local currency. Coinbase wallet works both on Android and iPhone in addition to the web-based platform. This allows Coinbase users to send and receive digital currency instantly and conveniently. All digital currencies are stored in secure offline storages. All digital currency stored on the servers are covered under the Coinbase insurance policy to guarantee users of the safety of their funds.
Account
Coinbase offers account options for merchants, developers, and traders. This means that;
- Merchants can accept payment for goods and services using Bitcoin worldwide, with payouts initiated daily and refunds can be issued through a simple Coinbase API call, thereby eliminating incidences of chargebacks and fraud.
- Developers can integrate Bitcoin, Litecoin, and Ethereum into their new or existing applications. The Coinbase APIs enables a variety of capabilities, from simply gathering read-only data.
- Traders can use the GDAX platform to trade a variety of digital currencies and on a regulated U.S. based exchange which has an intuitive interface with the real-time order book.
Trading Platforms / Software
Coinbase users who open trading accounts can access the GDAX platform for their trading activities. The platform offers institutions and professionals the ability to trade a variety of digital currencies like Bitcoin, Litecoin, and Ethereum. Global Digital Assets Exchange (GDAX) is licensed and regulated to operate in the U.S. Users can trade digital currency pairs such as;
- BTC/USD
- BTC/GBP
- BTC/EUR
- ETH/USD
- LTC/USD
- ETH/BTC
- ETH/EUR
- LTC/EUR
- Among others
The platform is designed to provide a world-class trading experience under a user-friendly interface. The platform provides real-time order book, charting tools, trade history, and a simple order process so beginner traders can work their way around the platform easily. The platform has a WebSocket feed which allows users to gain access to real-time market data while trading API lets them develop secure and programmatic trading bots.
Deposit options
Payment methods for Coinbase Users’ depend on the user’s location. This includes clients from the US, Europe, UK, Australia, Singapore, and Canada.
- US customers can buy or deposit from a number of payment options including bank transfer, credit cards, debit cards, and bank wires.
- European customers can buy or deposit from their bank accounts or debit and credit cards with a 3D secure enabled card.
- UK customers can buy or deposit through SEPA or use a 3Dsecure enabled credit or debit cards.
- Australian customers can buy or deposit using credit or debit cards.
- Singapore customers can buy or deposit using bank transfers via third parties, and credit or debit cards.
- Canadian customers can buy or deposit using credit and debit cards instantly.
Markets
Coinbase is known to be the most popular way to buy and sell Bitcoin, Ethereum, and Litecoin in the world today. Coinbase offers a secure online platform where merchants, traders, and developers, can buy, sell, transfer, and store digital currency.
Customer Support
Coinbase users can access support.coinbase.com to find a number of frequently answered questions and a tutorial of what the site does. However, if a customer’s question is not answered, the customer can visit https://support.coinbase.com/customer/portal/emails/new to submit a request and they would be contacted by a customer service rep with 24-48 hours.
Safety
Safety is obviously a huge concern for an online trading platform like Coinbase. This is why Coinbase has;
- Placed all funds under an insurance protection scheme.
- Coinbase and GDAX comply with applicable laws and regulations in each jurisdiction they operate in.
- All customer funds are stored in a segregated account.
Conclusion
Coinbase is a reputable digital currency broker currently operating in 32 countries. In addition to the direct sale of digital currency, Coinbase charges low fees for trading both Bitcoin and Ethereum on its exchange platform GDAX. Coinbase has a well-developed API for developers and a well-designed and intuitive user experience.
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