With time, the cryptocurrency market has grown and become more and more competitive because many third-party exchanges are offering its services to buy and sell digital currency at just one click. That is why it is very complicated these days for a person to choose which third-party exchange is best suited to buy and sell digital currency.
If you are planning to enter into the digital market for the very first time, and you do not have enough knowledge from where to start with, and how to proceed, then definitely you would first look at the exchanges which have low trading fees, and Coin Base is just one of them with low trading fee and extremely efficient support.
In simple words, if you are interested in buying cryptocurrencies like Bitcoin or Etherum, and you do not have any experience in this field, then Coin Base, without any doubt, is the best third party exchange for you.
All those people who want to have an idea of how does Coin Base work? And what are the benefits of using Coin Base? This review article will provide you with all the information you need before moving on to Coin Base. We have listed down each and everything about Coin Base, which will help you while deciding whether this platform is for you or not.
How can you deposit and withdraw money in Coin Base?
If you are interested in using your credit card, debit card at Coin Base to purchase cryptocurrencies, then you will need to make an instant cryptocurrency purchase. However, if you do not want to make an instant purchase, then you will have to use your bank account to buy and sell cryptocurrencies.
Deposit Options – Bank transfer, credit cards, debit cards.
Withdrawal Options – Bank transfer, credit cards, debit cards.
Does Coin Base charge anything?
One thing that you need to bear in mind while choosing any third party exchange is that whether this exchange will charge anything or it is free of cost? Nothing in this world comes without any cost. Same is the case with the third party exchanges as well, they charge you. Keeping in view all the charges, whether it is depositing fee, withdrawal fee, or exchange rates, we have concluded that Coin Base is one of the best exchanges in the world right now.
Here we have discussed in detail the charges of using Coin Base.
Deposit Fee – Regarding the depositing fee, it depends upon your location. If you hail from Europe, then deposits are free for you. Deposit fee varies from location to location and country to country. However, Coin Base is not as expensive as compared to other third-party exchanges.
Withdrawal Fee – If you belong to Europe, then withdrawals cost you just 0.15 euros. If you hail from UK, then withdrawals cost you only 1 euro. However, if you are from the US and any other part of the world, then deposits and withdrawals can cost you from $10 to $25, depending upon the method which you are using.
Is Coin Base secure enough to use?
Before entering into the cryptocurrency market, most of the people think about the security of their funds. They have a lot of concerns about whether the third-party exchange which we are using is safe enough to secure our funds. You might have heard about the exchanges that hackers have hacked third-party cryptocurrency exchanges many times to loot their money.
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It is said that hackers have looted almost 1.3 billion dollars just by hacking cryptocurrency exchanges during the last decade. Keeping in view the time period of 10 years, 1.3 billion dollars is a considerable amount.
So, the safety of your funds must be the first and foremost priority before choosing any cryptocurrency exchange. And the good news for you is that Coin Base is one of the secure and safest exchanges currently running in the market because of its high-tech and advanced security system.
What are the benefits of using Coin Base?
Coin Base has come a long way since 2012. The company is based in San Francisco, California. It facilitates its customers in many ways. Some of the reasons why should customers join it are as follows:
1 – Extra Security:
Coin Base has developed such a system that no one can hack into their database, so technically saying, it is the most reliable system available all over the world.
Coin Base has introduced a new cold storage system in its security to keep its system safe and sound. Cold storage means your cryptocurrency, such as bitcoin are kept offline using a hardware device, which means that your currency is secured from any online server or malicious attack. This feature acts as a major safeguard in keeping your funds safe.
Read More: Perfect Money
Secondly, Coin Base also offers you a two-factor authentication system through which can make your account more secure.
Thirdly, Coin Base also keeps a record of your IP address. If anyone tries to log in to your account, then he will have to pass an additional security check managed by Coin Base.
2 – Coin Base Customer Support:
Coin Base offers one of the best customer support system managed by hundreds of persons in the customer support team. If you are having any problem regarding your purchase or anything else regarding your account or funds, then Coin Base customer support is just a call away from solving your problem.
If you’re from the UK, you will have to dial 0808-168-4635.
For everyone else, including the US, you will have to dial +1-888-908-7930.
Coin Base email facility is also available. You can send emails to the support team anytime you need to.
3 – Coin Base supported cryptocurrencies:
Coin Base has expanded its playing field in the recent past. You can buy and sell 17 different cryptocurrencies using the Coin Basi exchange system. Here is the list of currencies that you can purchase or sell using Coin Base:
4 – Easy to use interface:
Coin Base has an easy-to-use interface that makes it an excellent tool for those who are just new in the cryptocurrency industry. Its user-friendly design makes it easy to navigate, and the tools you need are right at your fingertips.