One of the most popular and widely-used cryptocurrency exchanges in the world is Coinbase. It was founded in 2012 by Brian Armstrong and Fred Ehrsam and is headquartered in San Francisco, California. The platform offers a wide range of services, including buying and selling cryptocurrencies, a cryptocurrency wallet, and a cryptocurrency debit card. In this article, we’ll take a closer look at Coinbase and its features.
What is Coinbase?
This digital currency exchange allows customers to buy, sell, and store cryptocurrencies, such as BTC, Ethereum, and Litecoin. The platform is considered one of the most user-friendly and beginner-friendly exchanges, making it a great option for those new to the world of cryptocurrency.
How Does Coinbase Work?
To use Coinbase, users must first create an account by providing their personal information and verifying their identity. Once the account is created, users can then deposit funds into their account using a variety of methods, such as bank transfer or credit/debit card. Once the funds are deposited, users can then buy and sell cryptocurrencies on the platform.
The platform also offers a cryptocurrency wallet service, which allows users to store their purchased cryptocurrencies in a secure, online wallet. The platform also offers a mobile app, which allows users to manage their accounts and transactions on the go.
What Cryptocurrencies Does the Platform Support?
Coinbase currently supports a wide range of cryptocurrencies, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ethereum Classic (ETC)
- Stellar Lumens (XLM)
- USD Coin (USDC)
The platform also plans to add support for more cryptocurrencies in the future.
Fees and Limits
Coinbase charges a fee for each transaction made on the platform. The fee varies depending on the method of payment used and the country of the user. The platform also has certain limits on the amount of cryptocurrency that can be bought and sold per day. These limits can be increased by verifying the user’s identity and providing additional information.
Coinbase is a well-established and reputable cryptocurrency exchange that offers a wide range of services to its customers. The platform’s user-friendly interface and support for a variety of cryptocurrencies make it a great option for both experienced and new cryptocurrency traders. The platform also offers a secure and convenient cryptocurrency wallet service and a mobile app for managing accounts and transactions on the go. While Coinbase charges fees for transactions, it’s still considered one of the most cost-effective exchanges in the market.
Get Started With Coinbase