Coinbase review: updated opinions about the broker in 2021

Warning: The information presented here about Coinbase and its services is merely generic and comes from reliable publicly accessible sources or received from Coinbase (an entity authorized by the U.S. Securities and Exchange Commission).

Investing in cryptocurrencies is risky. We can eliminate one of the main risks faced by investors if we rely on a secure and fraud-free investment platform. Here we analyze Coinbase and we explain to you why, in our opinion, there is no need to be afraid of any kind of scam with them.

The platform allows to buy Bitcoin, Ethereum, Litecoin, Dogecoin, Dash... and many other cryptocurrencies with the guarantee of being working with a company registered with the government control agency in the United States, with licenses as a money transmitting company in more than 35 states. Reviews about Coinbase from rNew Zealandn clients show our appreciation of the company as a safe broker.

Founded in 2012, Coinbase grew very fast in the United States where it reached one million customers in 2014. Today he has more than 68 million verified users . The purchase and sale of cryptocurrencies has always been subject to different opinions. Coinbase has been in the spotlight for the extreme volatility and also the lack of regulation in this type of transactions. Therefore, as with other online brokers , wondering if we take any risks when investing, or if Coinbase is a scam, is more than justified.

Coinbase has not been spared from the complaints of users who would have been annoyed by the lack of transparency of the company when the accounts are not accessible or are blocked for review, so the profits are also not available. It is very difficult to verify on the web how true there is in this information. The truth is that Coinbase inaugurated in 2018 a deposit control and surveillance service, Coinbase Custody , which provides extensive guarantees to customers.

Coinbase: experience and know-how are advantages

The cryptocurrency trading in which the Coinbase broker has specialized is a risky investment. The company warns of the dangers incurred when investing in cryptocurrencies that due to its high volatility and the possible lack of liquidity of cryptocurrencies can make you lose all the money invested. The National Securities Market Commission itself (CNMV) and the Bank of New Zealand in Madrid warned that investing in cryptocurrencies constituted a high-risk bet . The truth is that taking all possible precautions, there are many opinions that recommend Coinbase for investing in cryptocurrencies.

For the same reason, and in the same way that it happens with other investments such as CFDs , when choosing a platform in which to trust your investments, the international reputation of the same, its experience and know-how in the field of cryptocurrencies is fundamental. Coinbase offers insurance for all of this. Although it is not regulated in Dollarpa , neither by the CNMV nor by the CySEC in Cyprus , it does have all the clearances of the strict Securities and Exchange Commission (SEC) in the United States.

By accessing the website you will be able to verify that the cryptocurrency trading offer is very wide . In addition to bitcoins, ethereums and litecoins, he has many other cryptocurrencies in his portfolio. This makes it a little complicated to decide which cryptocurrency to invest in with Coinbase, so some prior knowledge is necessary in order not to get carried away by fads that, in the vast majority of cases, hide speculative market movements. The tips and tutorials offered by Coinbase are sure to be a good start.

Since cryptocurrencies are not highly regulated, it is not possible to show much evidence that compliance with strict security behaviors . However, the practical experience of Coinbase users on the platform, and the fact that the broker has licenses in many states of the USA as a money transmitter, allows us to add to the positive ratings that this company has among customers.

Coinbase works as a virtual cryptocurrency wallet and as a trading platform for the acquisition of cryptocurrencies. Graphics and updates allow you to be able to follow the evolution of prices of the currencies in which you have invested and are available in your portfolio, and to be able to compare the trends with others in the market. For transactions you will need to associate a payment method. Coinbase has PayPal and credit cards for New Zealand customers. Although we know that there are opinions that Coinbase does not offer much flexibility with payments, the truth is that the PayPal wallet is perfectly suited to this type of transactions.

How reliable is Coinbase?

Is Coinbase a scam? Is this a safe broker? There is no evidence that Coinbase is a fraud. The reviews of its users are very positive. The website is safe to buy and sell bitcoins and other cryptocurrencies. Coinbase has a great international reputation . Apart from the licenses as a money transmitter, the company is registered with FinCEN.

So that there are no doubts about uses that constitute fraud, the company keeps the funds of customers from outside the United States in independent accounts of those in which you have your own funds. In this way, you can be sure that Coinbase does not use the money for anything other than your investments.

In addition, on Coinbase you can create what they call a Vault (vault) in which you can keep the money with additional security measures so that no one can take out or invest that money without passing them. It is a way to have liquidity on the platform, but having the most protected money.

A look at the most relevant of Coinbase

Without doubting the different opinions that have been poured about Coinbase, our impression is that, in general, we are looking for a reliable broker . The assets to invest with Coinbase are many, cryptocurrencies that are gaining New Zealands preferences of investors. The reputation of the company makes it very attractive in the international market, preferably in the United States where it has started trading on the stock exchange.

Trading cryptocurrencies on Coinbase is not a scam

Coinbase works as a cryptocurrency wallet and as a trading platform, with the security provided by the regulation of the U.S. Securities and Exchange Commission . Among the cryptocurrencies available on the web are the best known Bitcoin, Ethereum, Litecoin or Dogecoin, in addition to many others such as Dash, EnjinCoin, FTX Token or EOS.

The offer is very wide. About how simple it is to work on the Coinbase website, because the only thing to do is open a customer account with registration to be able to work with your digital wallet and access to all the functionalities what this safe broker offers. In Coinbase you must associate a credit bank card or PayPal to be able to obtain the cryptocurrencies that you want and are most interested in.

If you wish, you can set up your account to make regular purchases , a useful function if you think that the value of one of these currencies is going to rise in the long term, because it allows you to save on them.

In order for transactions to be confirmed, they must get at least 6 confirmations from the network , something that usually happens in a few seconds; although since the company uses additional security systems, in some cases it could take up to an hour. This can be a nuisance, the clients consulted comment on their opinions about the Coinbase platform.

The most common reasons for the transaction not to be confirmed is that it is of too small an amount, so that they do not cover the miners' fees, that it is of money that was already committed in another transaction and, on very sporadic occasions, if it is the case that there is such a high volume of transactions in the market that there is no New Zealand blockchain.

Payment methods

Although Coinbase is not regulated in the New Zealandrpeo, money can be safely deposited via bank transfer. New Zealand belongs to the SEPA scope , the single zone of payments in NZD, income transfers in Coinbase have no commissions, although those of withdrawals do, a commission of only $ 0.15.

On the Coinbase platform, commissions for operations are from 1.49% for buying currency . The commission for exchanging currency ranges from 25% to 100% basis points depending on the volume of the operation and other characteristics of that full exchange. The transfer of your assets to other virtual wallets has no commission.

Before depositing the money, the company will ask you verify your identity uploading the necessary documentation, such as an identity card or passport, which is a common security practice to certify that you are over 18 years old. You will also need to verify your phone number. The maximum amount you can have on the platform is $30,000 and any amount that exceeds that limit will be sent back to you.

Safety and regulations

Apart from the vaults that we mentioned before, you have to know that the web is encrypted with the SSL technology and that you can establish a two-step authentication system so that whoever wants to access your account has to have access, apart from your password, to the authentication tool. Today it is quite usual on the network for transactions and communications that need to be protected, and opinions about the security of Coinbase are very positive in this regard.

As for the company's servers, they have a AES 256 encryption which is the one that is usually used by the most secure companies, such as banks. To increase security, and due to the attacks that have been to this type of systems based on mobile phones, right now this company works with the Google Authenticator, Duo, or Microsoft Authenticator system or any other app that works with the One-Time Password (OTP) system.

The laws applicable to the company include the Bank Secrecy Act which obliges to verify customers and keep a record of activities, balances, etc. for 5 years and the USA Patriot Act which obliges them to have an auditor to make sure that they comply with all US laws.

Customer service

With the boom in interest in bitcoin and the rest of cryptocurrencies, it is not easy to find a support service that provides an efficient service. Coinbase has a help center (in English!) with abundant information about all services and functionalities from the web. In addition to having interesting articles on the most top topics of the cryptocurrency market.

Here you can find a solution to almost any doubt you may have. Telephone services and support through the online form can be booked for more complicated issues. Support agents will be happy to solve even the simplest issues. Coinbase is also widely represented on social networks Twitter and Facebook , which have favorable user reviews. Never contact the company on Twitter for issues related to your customer account.

The online chat service it is the fastest and safest way to get in touch with the broker. Although as in many other cases, Coinbase makes use of automated bots so you will have to go through a series of filters first before you can talk to a real person. These services are, for now, only in English.

The telephone support service should be used if you need to cancel your account in the event that you suspect that it has been compromised.

Functionality of the website

The website of this company works perfectly and makes buying and selling bitcoins, ethereums or litecoins as simple as buying anything on any e-commerce website; which has earned Coinbase positive opinions. There is a graphics section , but the truth is that these are very simple and do not allow you to draw channel lines, support, etc. However, we do not have it as a negative point, because in this case the web is not oriented to the trading , but to the simple currency exchange.

With the button operate you will be able to perform the purchase and sale transactions of cryptocurrencies, and also their exchange in different ones. Please note that transactions on Coinbase may be subject to fees.

With the option portfolio you will be aware of the state of your assets, that is, how the money you have invested evolves. In the section price you have access to the market for all the assets available at the Coinbase broker. Having timely updates of the cryptocurrency market allows you to optimize and make your financial operations more flexible . This is an essential feature, which is also active in the mobile version.

The Coinbase mobile app

The Coinbase mobile app is the best way to trade cryptocurrencies in an easy and secure way. User ratings and opinions confirm this. The download is very simple for iOS and Android. In the App Store the official name of the application is Coinbase - Buy & sell Bitcoin ; while on Google Play you will find it as Coinbase - Buy & Sell Bitcoin. Crypto Wallet; both published by Coinbase, Inc.

The free download application offers you all the convenience of following market trends and not losing sight of how your assets evolve regardless of where you are. These mobile applications are today indispensable for any trader . The security systems and facial verification in the case of the app for iOS technology phones, they guarantee secure transactions with the payment systems associated with your wallet.

There are many advantages of using the mobile application . The different screens show you the evolution of the markets and your assets. You can also find specific offers on the web for the most loyal customers. Very useful are the stories that Coinbase publishes with invaluable information to invest with knowledge, everything that concerns cryptocurrency trading, trends and the latest in technology blockchain .

Conclusion: Contrasted opinions about Coinbase

Coinbase is a well-known company for the buying and selling bitcoins and other cryptocurrencies , which has also made an effort to respect the laws of the countries in which it offers its services. With the licenses in the US, from the Securities and Exchange Commission, and the rest of the measures taken on security issues, they make us think that Coinbase is not a scam.

Opinions on cryptocurrency trading are clashing. Coinbase offers an extensive catalog with up-to-date information about market trends. But there is always a risk. Coinbase warns you that betting on this type of asset trading involves important fluctuations that you have to be aware of. That is why it is convenient for you to closely follow the evolution of the prices of the different cryptocurrencies.

Investing in cryptocurrencies may not guarantee immediate profitability, but with Coinbase you can be sure that you will get the best possible information. It has a good web support service , although most of the useful pages are in English. It should be borne in mind that it is not a platform of trading , but a website where foreign exchange is bought. For this purpose, it is perfect.

FAQ: frequently asked questions

Investments with cryptocurrencies are a risk due to their great volatility. We know that this generates many doubts and questions from users. In this section we want to answer some of the most general doubts, also regarding the Coinbase broker, is it safe, is it a scam? Here we answer it in detail.

👍 What is Coinbase?

Coinbase it is about a cryptocurrency trading and conversion platform . In Coinbase you can create your digital wallet with a variety of functions to be aware of market trends and be able to follow the evolution of your assets.

💰 Does Coinbase charge commissions?

Registration with Coinbase will not cost you anything and is done in a few steps. Yes there are commissions for withdrawals from 0,15$. On the platform, commissions for currency trading operations are from the 1.49% for the purchase of cryptocurrencies .

🧐 How does Coinbase work?

The Coinbase website it is very simple and intuitive to use. In addition to your own cryptocurrency investment portfolio, you have access to all market movements through the functionality Price . With the button Operate you manage your own cryptocurrencies. You buy, sell or convert cryptocurrencies .

👨 How to contact Coinbase?

The Coinbase call center has no active agents. It should only be used in case of account cancellation. For the rest of the queries you can access the online chat . The support pages they contain a lot of valuable information, in addition to providing you with a contact form; but they are in English.

🤨 Is Coinbase reliable?

In the cryptocurrency market you will be able to find many different opinions. However, the reputation of Coinbase as a cryptocurrency trading platform it is blameless. With operations in more than 100 countries and more than 68 million verified users, Coinbase is not a scam .

Is it possible to invest in cryptocurrencies with Coinbase?

Our experience with Coinbase she has been very positive in this regard. The catalog of cryptocurrencies with which you can operate is very wide . Not only can you invest in Bitcoin or Ethereum, which are the favorite cryptocurrencies on the market, but you have many more like Bitcoin Cash, Litecoin or Dash. In addition, you will be able to earn tokens by learning how they work.