Review of Coinbase
Coinbase is a bitcoin wallet and exchange company headquartered in San Francisco California, founded by Brian Armstrong and Fred Ehrsam. It operates exchanges between bitcoin and fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Coinbase is very easy and secure to use, i recommend Coinbase if you are looking for a place to buy or store Bitcoin, it is very fast to register an account and get started, it took me around 10 minutes from signing in, and i received my first bitcoins in my new fresh Coinbase BTC Wallet.
Trading on Coinbase
I don’t recommend Coinbase as a trading exchange, if you want to daytrade Bitcoins, then i would choose another exchange for that purpose, more on that later.
|IS IT?||REVIEW CONCLUSION|
|Who can use it||Anyone who want to store|
or buy Bitcoins
|Price||FREE to get account|
Register Your FREE Account and make a buy for at least $100 and you get $10 bonus
It is free to register, make a buy for at least $100 and you get $10 bonus
To register for an account and get your own wallet and start buy/sell or trading is only a few steps away and if you run into trouble then you can reach support, by phone, E-mail, Community and get your answers. Coinbase is offering a high quality of support.
Bitcoin is the world’s most widely used alternative currency with a total market cap of approximately $6.5 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world.
3,600,000 Users – 5,400,000 Wallets – 42,000 Merchants – 8,000 Developer Apps
Audience/who is it for?
Coinbase has three core products: an exchange for trading bitcoin and fiat currency, a wallet for bitcoin storage and transactions, and an API for developers and merchants to build applications and accept bitcoin payments. The company offers buy/sell trading functionality in 25 countries, while the wallet is available in 190 countries worldwide.
The exchange can be funded through a bank transfer or wire, and trades on the exchange have a maker/taker price model in which traders pay either a 0.25% fee (taker) or nothing (maker) to execute trades.
Their mission with their own words
Our mission is to create an open financial system for the world.
01. MAKE BITCOIN EASY TO USE
Bitcoin is a powerful technology but without an easy to use interface, the benefits of bitcoin will be inaccessible to most people. Coinbase is making a product for regular people and businesses to integrate Bitcoin into people’s lives.
02. BE THE TRUSTED BRAND IN THE SPACE
Trust is the sum of all the tiny interactions a customer may have with our product on a daily basis. Is the website up? The user interface clear? The design professional? The merchants on the platform reputable? The responses from support timely and helpful? The communication clear when things don’t go as planned? Every time we meet or exceed a customer’s expectations, we help fill the reservoir of trust that is in their mind. When we break a customer’s expectations, we lose a bit of trust from that reservoir.
03. BE THE PLATFORM FOR EASY BITCOIN INTEGRATION
In the future, bitcoin will be integrated into many types of products and services. Coinbase is a platform which makes these integrations possible. By abstracting some difficult pieces of bitcoin, we can let more great ideas blossom. In this sense Coinbase is an infrastructure company; we build the tools that help bitcoin integrate into thousands of new products and services.
Coinbase makes it easy for the average person and business to use the digital currency Bitcoin.
Coinbase lets any consumer to create a Bitcoin wallet and start buying/selling Bitcoin instantly by connecting their bank account.
In addition, Coinbase provides a series of merchant tools that support some of the most highly trafficked sites on the internet.
Coinbase processes the first $1,000,000 of merchant orders for free, with a simple 1% fee after that. Combined with no chargebacks by nature in Bitcoin, this provides significant savings to merchants who are paying 3% plus to credit card fees.
For and against
- Fairly easy to use!
- Secure, trustworthy and US based
- Proactive customer service
- They pay your transaction fees when you move your Bitcoin around
- Fees of about 1%
- 3-5 day lag time for initial purchase
- Slightly higher than market price for purchase
- Not intended to be used for trading
- Will occasionally cancel orders for ‘high-risk’ behavior
My final opinion
To register and open an account was flawless and easy to understand, as they guide you through the whole registration process. So it took me just a few moments to be the proud owner of an bitcoin wallet account. I chose Coinbase because they have a exellent Coinbase Vault program, so that allows you to secure your coins into a high security lock, which requires a two factor authentication. That should keep my Bitcoins safe.