Coinbase having high fees and poor customer support might be obvious to those that have been into crypto for a while. But for those new to crypto, it is probably one of the easiest exchange to sign up to and buy cryptos without a lot of previous knowledge.
Adverts for Coinbase is everywhere when you search the internet for cryptocurrency. But what they don’t tell you is that the trading and withdrawals fees are high. You may also get your account blocked for no good reason, and the awful customer support will not help.
If you are new to crypto and want to buy them in a fairly simple way with your credit card then Coinbase is the place to start. Bear in mind that the fees are very high and the customer support is terrible should you ever need help.
Just got my Coinbase card here in the UK. I don’t know why I got it to be honest, because now I’ve got it in my hand, it’s just dawn on me that I never want to use it. I can’t be buying a slice of pizza that ends up in a few years to be worth millions. But I still love what Coinbase is doing for crypto mass adoption.
Coinbase is a great exchange especially for newcomers to the world of crypto. The user interface is nice, clean and easy to understand which makes buying very easy. Their are a few bugs such as everytime you log in with the same computer. It says that it is a new device so you have to authorize it over and over again. I also had some problems setting up 2FA.
The fees on Coinbase may be high, the verification process is sometimes terrible and the customer service isn’t great either. But it does have its use case such as when you need to buy crypto with fiat very quickly.
If you are in the UK you will be happy to know that Coinbase has announced a Visa debit card that lets UK customers spend the cryptos in their wallets in their Coinbase account. The rest of the EU will get this feature in the coming months.
This is just another example of the great work Coinbase is doing.