The main problem with Coinbase is getting your account verified. Once that’s done then you’re good to go. Buying and selling the top cryptos like Bitcoin, Ethereum and Litecoin is pretty easy after that.
I mostly use Coinbase to cash out my cryptos back to fiat. I can do this in almost no time at all with the wallets they offer. Until another exchange can do this much better than Coinbase does at the moment, I will continue to pay the fees for the convenience they provide.
I decided to try my luck with trading crypto on Coinbase recently and haven’t had any problems so far (knock on wood). I carefully followed all the instructions when setting up my new account and everything when smoothly after that.
The fees are high, but I guess that’s the trade off you pay for a service that’s easy for beginners to get to grips with.
Coinbase makes it very easy to buy and trade a number of top cryptos on it’s platform, even the wallets are very straightforward for even those very new to crypto.
But be warned! The withdrawals of your cryptos to another exchange or wallet can sometimes become problematic for no good reason whats so ever. One day you’re withdrawing your Bitcoin with no problems. The next day your withdrawals have been blocked, with a message sometimes telling you that you have to wait 72 hours.
Coinbase needs to be more consistent in it’s approach to business and not just set new rules when it sees fit.
Coinbase is so easy to sign up for and use here in the UK. I haven’t been in the world of crypto for very long, but I have been able to buy Bitcoin on Coinbase in less than an hour from the time of verifying my account with them. The interface is simple and easy to understand so you will know what to do from the get-go.
Coinbase is very easy to use but be prepared for very high fees when you buy and sell your cryptos. People who are new to cryptocurrency and may not be aware of other cheaper exchanges will pay a lot in trading fees.
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.