Company OverviewĬoinbase was founded in 2012 as a place to send and receive Bitcoin. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Consult with a qualified professional before making any financial decisions. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. However, if you’re interested in cryptocurrency, Coinbase is an excellent option for newbies and veterans alike. In November 2022, the company began the migration of more advanced Coinbase Pro accounts to a new advanced platform called "Advanced Trade."Ĭryptocurrencies are a relatively new asset class that can be risky and volatile, which isn’t suitable for all investors. Coinbase is a large company with over 110 million users and over $80 billion in assets on the platform.īeginners will likely prefer the original Coinbase platform for simple buy and sell orders. Only with Coinbase wallet can you hold your own private keys.Ĭoinbase is a cryptocurrency trading and investing platform that offers users the ability to buy, sell, and exchange over 250 tradable cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. Coinbase controls your private keys: On their main platform, Coinbase holds and controls your private keys, which represent ownership of your cryptocurrency.Customer service issues: Coinbase gets poor marks for customer service, even when account holders witness serious security issues.High transaction fees: Transaction fees are often expensive on the primary Coinbase platform.Opportunities to earn cryptocurrency: Earn interest on eligible balances, or earn money for completing crypto education courses with Coinbase Learning Rewards.Support for a large number of cryptocurrencies: Coinbase currently supports over 250 currencies for trading, and the number grows regularly.Easy to use for cryptocurrency beginners: The main Coinbase website and mobile app are very easy to use and allow you to buy, sell, and exchange cryptocurrencies quickly.Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp.
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