Coinbase review

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(96 User Ratings)

USD, EUR, and GBP
Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin, and more
Upto 0.50% per trade

Coinbase is the easiest online cryptocurrency trading platform that allows merchants, consumers, and traders to transact with digital currency.

 

Background Information About Coinbase

 

With more than 56 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries, Coinbase has become one of the most established cryptocurrency exchanges in the world.

 

Founded in 2012, by Brian Armstrong and Fred Ehrsam, over the years, Coinbase has been ranked among the top crypto exchanges in the world by traffic, liquidity, and trading volumes. Armstrong is in charge of the company’s retail and institutional arms and responsible for driving forward the products and services developed by both trading platforms.

 

Apart from cryptocurrency trading, Coinbase also provides a wide range of investment options for businesses and institutions, including crypto storage, commerce services, and more.

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How to open an account on the Coinbase website from Singapore?

 

To invest, trade, and store cryptocurrencies on Coinbase, you need to get registered. Here’s how to do it:

 

Step 1: Go to the official website of Coinbase, and click on the “Get Started” button present in the right top corner of the page. On clicking on the “Get Started” button, you’ll be redirected to the sign-up page, where you have to fill in your full name, email address, and create a password.

 

Step2: Next, you need to read the user agreement and privacy policy of the company and accept it, and click on the “Create Account” button.

 

 Step 3: After this, you will now receive a verification email from Coinbase. Open your email inbox and click on the “Verify Email Address” link in the email you received from Coinbase to verify your email address.

 

 Step 4: Upon clicking on the verification link, you will be redirected to the Coinbase website. Here, you have to sign back in using the email and password you recently entered to complete the email verification process.

 

Step 5: In this step, you need to verify your phone number. Log in to the Coinbase website. You’ll receive a prompt to add your phone number. Here, you have to select the country code and enter your mobile number.  Click on the “Send Code” button. You’ll receive a seven-digit code from Coinbase to your mobile number. You need to enter the code and click on the “Submit” button.

Step 6: Next, you need to add your personal information, as shown in your valid government-issued photo identity card. After providing personal details, you’ll be asked to answer some questions such as: what do you use Coinbase for? what is your source of funds? current occupation, among others.

 

You have to answer the questions and click on the “Continue” button to complete the process.

 

Step 7: Further, you need to verify your identity by signing up in your Coinbase account.

It is also recommended to set up a 2-step verification app (TOTP) to help protect your account against unauthorized account access.

 

Step 8: At last, you have to link a payment method to your account. Coinbase uses different payment methods based on the location of the customers. Some payment methods supported at Coinbase include bank account (ACH), debit card, wire transfer, PayPal, SEPA transfer. Once you link a payment method, you’re ready to get started at Coinbase.

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Coinbase

How to link a payment method at Coinbase in Singapore?

 

To link a payment method, follow the below steps:

  1. Log in to your Coinbase account, and go to the “Payment Methods” tab.
  2. Next, click on the “Add a payment method’ option.
  3. After this, select the type of account you want to link
  4. At last, you have to follow the instructions from Coinbase to complete the verification depending on the type of account being linked.

Free quently asked questions

1Is Coinbase a secured platform?

Coinbase is a safe and secured platform and takes a comprehensive approach to protect your investments. It keeps 98% of all customer funds offline in geographically distributed safe deposit boxes and vaults around the world.

2Are there any withdrawal limits on Coinbase?

Yes, Coinbase does enforce some limits on withdrawals of both cryptocurrency and fiat currency are limited. All Coinbase Pro account users have a daily withdrawal limit of $50,000. Kindly note that this amount is applicable to all currencies (for ex: you can withdraw up to $50,000 worth of ETH per day).

3Are there any transaction fees on buying/selling cryptocurrency on Coinbase?

Yes, Coinbase charges a spread of about 0.50% for buying and selling cryptocurrency. However, the actual spread fee may vary due to market fluctuations in the price of cryptocurrency on Coinbase Pro between the time the platform quotes a price and the time of the order execution. Additionally, Coinbase also charges a Coinbase Fee (addition to the spread), which is the higher of (i) a flat fee or (ii) a variable percentage fee that is determined by payment type, product feature, and region.