Welcome to the tradingapps.org review of Coinbase. Before we get started with the review, I’d like to personally recommend Coinbase. It is a world-leading cryptocurrency trading app with tons of features. It’s ideal for beginners and provides advanced traders with a great on-ramp into the cryptocurrency market.
|Languages||English, French, German, Italian, Spanish, Dutch, Portuguese|
|Trading Platforms||Web & Mobile Apps|
|Maximum Leverage||No leverage|
What is Coinbase?
Coinbase is a cryptocurrency wallet, trading platform and mobile app founded in 2012. It provides a smooth entry into the digital asset market and is packed full of handy features for those looking to trade & invest in cryptocurrencies. Coinbase HQ is located in California.
Instant Buys & Sells
Coinbase allows you to instantly buy and sell digital currencies within the app. This is extremely important as cryptocurrencies are volatile by nature and you may wish to either get in or out of a trade quickly. Fees on instant buys with cards are 3.99% on average which is expected with a service like this.
Get live price quotes on all the major cryptocurrencies directly in the app. You can even set price alerts for these cryptos so you can track any price movements that may occur. Theres also a nice feature where you can select which digital currencies you want to follow, so you only see the information you want to see.
Coinbase offers a great referral program whereby if you refer a friend to Coinbase and they buy/sell at least $100 worth of digital currency, you’ll both get $10 or the equivalent in your currency) of free Bitcoin. This is a brilliant way of getting friends into cryptocurrency and theres a little bonus for you too.
Get the latest market statistics with the advanced analytical data on the Coinbase app. We really like how easy this data is to get and how simply its presented. Coinbase have managed to balance simplicity and power perfectly within the app.
Coinbase has in-built charts which allow you to view the historical price movements for cryptocurrencies. These charts are really easy to use.
Spend crypto on-the-go with the Coinbase Debit Card.
This is only available in a few countries but is an awesome way of being able to instantly spend Bitcoin and other cryptocurrencies. You can even use it to withdraw cash from ATMs.
Coinbase Debit Card Cost
The Coinbase debit card is free although there is a 4% fee on each transaction you make with the card.
Trust & Safety
Is Coinbase safe?
Yes. Coinbase is a safe trading app.
Coinbase is fully regulated in several countries. It is also registered as a Money Services business with FinCEN.
Coinbase uses the highest security practices to ensure your funds are kept safe, this includes 2 factor authentication and geo-verification.
Google Authenticator on Coinbase
Google Authenticator is a form of 2 factor authentication on Coinbase which allows you to secure your account.
It is commonly known that Google Auth is more secure than regular SMS verification, so I recommend that you set it up straight away.
Is Coinbase a scam?
There is no evidence to suggest that Coinbase is a scam.
Is Coinbase legit?
Yes. Coinbase is a fully regulated & legitimate cryptocurrency exchange.
Trading & Account
What can you trade on Coinbase?
Coinbase offers a wide range of tradable digital assets on the app. See below for a list of the assets available to trade on the Coinbase app.
- Bitcoin Cash
- Ethereum Classic
Did you know that you can trade more cryptocurrencies on the Coinbase Pro web app?
There is one main account type offered by Coinbase on the app. This is a regular retail account. There are some limits to how much you can buy, but these increase gradually over time depending on how frequently you use the Coinbase app.
Here’s a quick breakdown of what you need to open a Coinbase account.
- Email address
- Photo ID
- Proof of address (not always)
- Proof of funds (not always)
You cannot trade on margin (leverage) on the Coinbase app.
How to register on Coinbase
To get started with the Coinbase app, follow the instructions below.
Coinbase does not offer a demo account. On the other hand, there is a very low minimum deposit on the app, so you can get started trading without having to spend much.
You are able to recover your Coinbase account if you forget your password or lose access to your email address.
To recover your Coinbase account: open a support ticket here.
Make sure you have your ID ready as well as any bank transaction history as you may need this to recover your account.
Coinbase’s fee structure is complex as it depends on where your from, what type of purchase you make and what method of payment you decide to use. We’ve made it as simple to understand as possible in the table below.
|Instant Buy/Sell||1.49% – 3.99%|
Coinbase offers a quality service, so fees like this are expected. They make it very easy to get involved with what a lot of people deem a ‘difficult to understand’ market and therefore it doesn’t surprise us that they charge these fees. It’s ideal for those who want to get started with cryptocurrencies, without much hassle.
|Digital Asset||Transaction Fee|
|Bitcoin||Dynamic (Around $5)|
|Ethereum||Dynamic (Around $1)|
|Litecoin||Dynamic (Around $0.50)|
|XRP||Dynamic (Around $0.50)|
What is the transaction time?
The transaction time on Coinbase varies depending on the asset you are sending.
All transactions are made instantly by Coinbase, the only thing that takes time is for the blockchain to confirm your transaction.
I’ve put together a table below with the average transaction times on Coinbase.
|Bitcoin (BTC)||15-30 minutes|
|Ethereum (ETH)||1-7 minutes|
|Litecoin (LTC)||1-5 minutes|
|XRP (XRP)||1-3 minutes|
|0x (ZRX)||1-7 minutes|
|DAI (DAI)||2-9 minutes|
|Basic Attention Token (BAT)||1-7 minutes|
|Ethereum Classic (ETC)||1-10 minutes|
|Chainlink (LINK)||1-7 minutes|
|Augur (REP)||1-7 minutes|
|Tezos (XTZ)||2-8 minutes|
|EOS (EOS)||2-6 minutes|
Deposit & Withdrawal
Coinbase offers a wide range of deposit methods within the app. This means that traders have more flexibility when it comes to funding their Coinbase account. See the full list of deposit methods below.
- Euros (€)
- Dollars ($)
- Pounds (£)
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ethereum Classic (ETC)
- District 0x (ZRX)
- Basic Attention Token (BAT)
- USD Coin (USDC)
- Dai (DAI)
- Chainlink (LINK)
- XRP (XRP)
- Augur (REP)
- Stellar Lumens (XLM)
- EOS (EOS)
- Tezos (XTZ)
How to deposit on the Coinbase App
Follow the steps below to deposit on the Coinbase app.
- Sign into your Coinbase account (Don’t have one yet? Sign up here)
- Open the app and go to the ‘Accounts’ section using the bottom navigation bar
- Select which asset you would like to deposit
- Click ‘Fund’ and proceed to make your deposit
The minimum deposit on Coinbase is £2/$2/€2.
Are there any deposit fees on Coinbase?
No, there are no deposit fees on Coinbase.
How long does it take for a deposit to arrive in your Coinbase account? This varies depending on which asset you are depositing.
For bank deposits, it can take anywhere up to a week, whereas cryptocurrency deposits can be in a few minutes.
Bitcoin usually takes around 1 hour to clear on Coinbase.
The withdrawal methods on Coinbase are the same as the deposit methods with the addition of PayPal for some customers.
How to withdraw from Coinbase?
Follow the instructions below to withdraw from the Coinbase app.
- Login to your Coinbase account (If you don’t have one, sign up here)
- Go to your ‘Account’ section using the navigation bar
- Select which asset you wish to withdraw and then proceed to make your withdrawal
There minimum withdrawal depends on the asset you are withdrawing. See the Coinbase website for more information.
In select countries, you can withdraw from Coinbase straight to your PayPal account. Here’s how to do it.
- Go to your account
- Click ‘Settings‘
- Under ‘Linked Accounts‘, press ‘Add a payment method‘
- Select ‘PayPal’
- When prompted, login to PayPal
- Convert your coins to GBP/EUR/USD
- Go to the wallet you wish to withdraw from and select ‘Withdraw‘
- Enter the amount and continue
- Select PayPal as your withdrawal method
- Click ‘Submit‘
- You’re all done!
Are PayPal withdrawals instant on Coinbase?
Yes, PayPal withdrawals on Coinbase are instant.
Are there any withdrawal fees using PayPal on Coinbase?
There are no withdrawal fees when withdrawing to PayPal from Coinbase.
Are there any withdrawal fees on Coinbase?
Coinbase does charge withdrawal fees on some of the withdrawal assets. For more information, refer to Coinbase.
How to find your transaction ID on Coinbase
To find your Coinbase transaction ID: go to the wallet you made the transaction from, click on the transaction you wish to get the ID from, click the link and copy the long string of letters/numbers – this is your transaction ID.
(This works for all cryptocurrencies on Coinbase)
You can access the transaction ID from both mobile and desktop devices.
Coinbase is well-known for offering highly attractive bonuses among other ways of benefiting.
Coinbase offer a standard promotion for referrals. You can get $10 free Bitcoin (or the equivalent in your currency) by inviting friends. To get your free $10 Bitcoin, you can use our link here.
Coinbase has an affiliate program whereby you can earn 50% of any transaction fees for the first 3 months of a referred account.
Coinbase has a dedicated 24/7 support team who are there to help you with your account should you need it. There are multiple ways you can get in touch with Coinbase’s support team.
|Phone (International)||+1 (888) 908-7930|
|Phone (UK)||0808 168 4635|
Coinbase App Review: FAQs
Use the instructions below to download the Coinbase app for your device.
Download Coinbase App for iPhone (IOS)
- Register for a Coinbase account
- Go to the app on the Apple App Store
- Download the app
- Deposit and start trading
Download Coinbase App for iPad (IOS)
- Sign up to Coinbase
- Go to the Apple App Store
- Download the app
- Add money to your account and start trading on the app
Download Coinbase App for Android
Coinbase App Alternatives
Coinbase is brilliant and one of the go-to apps for cryptocurrency traders and investors all over the world, but it’s also worth looking at some alternative apps for trading Bitcoin & other cryptocurrencies.
|App||Rating (Max 5)||Bonus||Download|
|Abra||3.5||$25 free Bitcoin||Click here|
|CEX||4||$8 free Crypto||Click here|
|Huobi||4.5||Fee discounts||Click here|
|Revolut||4.3||No hidden fees||Click here|
|Binance||4.0||5% off fees||Click here|
In conclusion, the Coinbase app is perfect for beginner traders and those who want to trade cryptocurrencies without much hassle. It provides traders with an easy way to access a global market in a secure and reliable manner. On the other hand, if you find that it doesn’t have all the tools for you, check out our other reviews on crypto trading apps.