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.
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.