Broker Review Contents
Coinbase is a cryptocurrency exchange which was established in 2012. Traders can access a wide range of cryptocurrencies.
Browser based platform and mobile apps for iPhone, Android, and tablets are among the online trading platforms offered by Coinbase.
E-Money Services are regulated by the UK Financial Conduct Authority (“FCA”). Coinbase Payments is an authorised electronic money institution authorised and regulated by the FCA with register number 900635. In the US Coinbase is registered as a Money Services Business with FinCEN.
Coinbase is a spot cryptocurrency exchange. This means that when you trade using Coinbase, you own the actual coins.
A minimum deposit of 50 USD is required for a live account. Coinbase, currently doesn’t offer a demo account. Coinbase was established in 2012 and their head office is in United States. They are the first publicly listed crypto exchange on the US stock market with stock ticker (COIN).
Before we get into the specifics of Coinbase’s spreads, fees, platforms, and trading tools, you might want to open the their website in a new tab by clicking the button below to get the most up-to-date information directly from the company.
Disclosure: If you sign up with a broker through one of our links, we may receive a commission.
What are Coinbase’s spreads & fees?
Coinbase, like most exchanges, charges a fee based on the transactions which occur on the exchange. These can depend on the coin which you trade, as some coins have higher trading and withdrawal fees.
Choosing at what time of the day and through which coins to transact can lower your fees.
Before you complete a trade on Coinbase’s platform, it will show you a breakdown of all the fees which you may incur. Checking these fees before completing the trade could save you money.
As they are an exchange the spreads very depending on trader activity. Any spreads displayed on our website are for information purposes only.
As you can see, Coinbase’s BTC/USDT spread was 0.01 USDT when we wrote this review. This is low when compared to the average BTC/USDT spread of 8.00 USDT.
What can you trade with Coinbase?
Over 50 different coins are available to trade at Coinbase.
Below, we’ve summarized their offering by types of markets, as well as the markets offered by some of their competitors for comparison.
What’s the trading experience like?
1) Platforms and apps
Coinbase offers a web based platform which allows you to use it on any device which has a browser.
They offer Android and iOS mobile apps, making it easy to keep track of and execute trades while on the go.
2) Executing Trades
You can trade as little as 2USD with Coinbase. Depending on the cryptocurrency you trade, this may differ. Maximum trade size depends on the available liquidity on the exchange.
Margin requirements vary by account, and instrument, as they do with most exchanges.
They offer leverage as high as 3x for spot trading.
Stop losses limit orders price alerts api trading and other features are available. Here you can find a list of all of their account features.
We have included a list of some of the most common funding options that Coinbase provides to its traders.
- Bank Transfer
3) Client support
Coinbase offers support in languages like English, Spanish, French, German, Italian, Russian, Portuguese, Japanese, Korean, Chinese Traditional, Chinese Simplified and more.
4) What you’ll need to open an account with Coinbase
Most crypto exchanges allow you to open an account without providing documents. This type of account will be severely limited in terms of maximum deposit and withdrawals.
In order to have higher deposit and withdrawal limits with Coinbase you need to pass verification by providing the following documents:
- a colour copy of your passport, driver’s license, or other government-issued identification
- a three-month utility bill, bank or credit card statement that shows your current address
Coinbase may also ask you to go through a verification of identity via your laptop or phone camera.
If you decide to trade using leverage, you’ll also need to answer a few questions regarding your trading experience.
You may be able to explore Coinbase’s platform right away, but as mentioned before until you pass verification, your deposits and withdrawals will be capped. Verification depending on the circumstances could take from a few hours up to a few days.