Due to the outstanding performance of Coinbase, it has been ranked high in keeping an excellent security record and is known as one of the safest places online to sell, buy and trade cryptocurrency. There are various advantages of using its cost per trade: Coinbase, as a consequence, is getting acceptance in the whole wide world. Read on to find more.
Coinbase is emerging as one of the most successful cryptocurrency platforms in this digital era. It initially started in the United States of America and is now used worldwide. Did you ever think why Coinbase was named so? Well, the company acquired its name after coin-based transactions. These particular transactions introduced cryptocurrency in this digital world.
Coinbase is considered one of the most legitimate and reliable forms of cryptocurrency trading online. Coinbase provides a particular emphasis on securing the funds and assets of its clients. Since storing maximum assets online can be risky, Coinbase stores 99% of its assets in cold offline storage that cannot be assessed quickly.
Advantages of the Company’s Cost per Trade: Coinbase and Its Customers
Easy to use
Coinbase is user-friendly and can be used easily. Even if you are a beginner in the digital currency world, trading on Coinbase will not cause you much difficulty.
Even if you have hardly any idea about the cost per trade, Coinbase, or even cryptocurrencies, the guidelines are clearly explained here, so you will not face hindrance in operating Coinbase.
Ideal for beginners in this field
Coinbase is considered ideal for beginners in the cryptocurrency field because it has the feature of low minimum for account funding. This means that you can start with having a low minimum account.
This feature lacks in its counterparts, making it more widespread. When you are entering the cryptocurrency dimension, you might be hesitant to invest a considerable amount on the first go. Thus to avoid that, Coinbase helps you with this feature, due to which beginners opt to invest on Coinbase.
Offers primary transaction and withdrawal facilities
In general, transactions and withdrawal facilities are not appreciable for cryptocurrencies. Various complicated steps need to be followed before making a transaction via any other cryptocurrency.
But that is not the case with Coinbase. It offers you basic steps for your ease in a transaction. In addition to this, not many cryptocurrencies platforms allow you to withdraw your funds from them easily, but Coinbase offers you this instant cashout benefit.
Supports multiple cryptocurrencies
Coinbase has become such a huge platform that it is now supporting the trading of about 100 different cryptocurrencies. It is growing so fast that it adds new coins almost regularly to its list.
The most popular currencies that Coinbase supports are – Bitcoin [BTC], Shiba Inu [SHIB], Dogecoin [DOGE], Polygon [MATIC] Cardano [ADA], Ethereum [ETH], Solana [SOL], USD Coin [USDC],Algorand [ALGO], Sushi Swap [SUSHI], Polkadot [DOT], Stellar Lumens [XLM], Litecoin [LTC], Uniswap [UNI], DAI [DAI].
In addition, among these, there are 81 crypto to crypto trading pairs with Coinbase Pro.
It contains impressive security features
Coinbase states that they store 98% of their customer funds in cold storage, which is offline and only has about 2% of its customer funds online.
Since it is a known fact that offline wallets are safer than their online counterparts, Coinbase uses this strategy to keep its customer’s funds secured. Coinbase employs top-rated security activities to keep its customer assets and deposits secure.
Even the customer funds kept in the offline cold storage are backed with digital and paperwork to enhance security. Furthermore, the website of Coinbase is secured by employing the security of encryption level of bank-standard.
In addition to these, all users of Coinbase have to undergo a two-step authentification. This is done so that no stranger can log into your account.
Cost per Trade: Coinbase has a variable trading and transaction fee structure
Concerning the cost per trade, Coinbase does not have any fixed transaction fee structure. It keeps on differing depending upon the market rates.
This acts as an advantage because, unlike its counterparts that have a fixed cost per rate, Coinbase allows that the transaction fees that it operates can go down, which will be economically benefitting for you as a user.
The cost per trade Coinbase operates also depends on the type of cryptocurrency you use, your payment method, and the size of your transaction. Generally, with an increase in trade size, the Coinbase fee also increases.
Has a flexible amount of maximum trading
Coinbase does not have any limited maximum trading amount. The cost per trade, Coinbase fees, and other financial aspects depend on two significant factors.
Firstly, the cost per trade Coinbase charges is 0.5%, depending on the cryptocurrency sale and purchase type. This percentage is floating in nature and depends on market fluctuations.
Secondly, the cost per trade Coinbase charges is either variable or flat, depending upon the variations in the market. To further explain this concept, if you buy a bitcoin via your bank account, you will be charged a flat fee, which would result in an additional 1.49% of your bitcoin value.
Again, this percentage keeps on changing along with the market fluctuations.
Trusted and well known by U.S Regulators
It has already been nine years that Coinbase has entered the market. It was initially designed in 2012 as a platform for exchanging Bitcoin.
But due to its remarkable growth, it has not kept itself limited as a Bitcoin exchanging platform but now supports hundreds of cryptocurrencies, successfully managing a cryptocurrency ecosystem. Coinbase is decentralized with no headquarters, but that does not stop them from efficiently managing approximately 3000 employees. Due to all their pros, they are trusted and well known, not only in the USA but in the whole world.
Perfectly functions on a laptop or mobile
There are various applications designed to work efficiently on the mobile or laptop. Generally, cryptocurrency websites operate more smoothly on laptops and desktops rather than mobiles.
But Coinbase is an exception. The website and application of Coinbase are designed in such a manner that they function smoothly on laptops as well as phones.
Thus, when you have to do a cryptocurrency transaction, you can do it anywhere and anytime since you carry your phone almost everywhere.
In addition, their mobile application is designed in such a manner that it works efficiently on android as well as ios software.
It enables converting one cryptocurrency into another
This conversion feature is available to all users. Since there is an inclusion of exchange in the decentralization of a third party, there is a possibility of fluctuation of the price.
The execution of conversion to your desired cryptocurrency will approximately charge 0.5% to 2% cost per trade, Coinbase transaction fees depending on the market value of the converted cryptocurrency.
If the procedure faces any technical issue, your balance will be refunded after canceling the transaction.
You can earn while you learn
Coinbase has a unique feature where it allows you, as an eligible customer, to acquire knowledge about different cryptocurrencies through educational and informative content.
In this manner, you gain knowledge about the functioning of cryptocurrency and practically experience it and earn from it.
Has a well-informative website
The website of Coinbase is impressive. It is transparent, and every detail is adequately mentioned. Therefore, it is not a website that is difficult to handle.
In addition, the simplicity of the website makes it popular. Also, the cost per trade Coinbase charges is kept up to date daily on its website. This is an essential feature because cryptocurrency rates keep changing every day.
Therefore, you need to know its market value beforehand for those interested in investing in a particular cryptocurrency on a particular day. Apart from this, Coinbase also mentions its official contact number and email id, which shows their prompt customer service. Hence we can say that Coinbase has a well-informative website.
Easy to open an account
Opening an account in Coinbase is a straightforward and rapid process. It can be compared to opening a bank account online. All you need to do is enter your details.
The things that you required are vividly given on the official website. Moreover, after incorporating all your details accurately, you will have access to your verified account.
Since you are a new account holder, you might have to submit government identification proof. Furthermore, Coinbase does not exempt you from tax, and this is why your details are verified when you join Coinbase. Hence, opening an account on Coinbase is no big deal.
Impressive and prompt customer services
Coinbase is an online platform, and as such, you can be subjected to various problems. Their problems might be something like you might experience hindrance in an online transaction, or maybe you be the victim of online fraud.
Then where should you go, since Coinbase does not have any fixed headquarter! You need not worry, as Coinbase has very efficient and spontaneous customer service.
You can call them or mail them, and they will immediately start looking into your matter. They have excellent reviews on their prompt customer service.
In addition, the customer services also include the quick up-gradation of your account information. For instance, suppose you shift from one place to another, then you would have to change your permanent address, which is troublesome for many. But it is not so for them.
Coinbase claims that it has ensured all its digital currencies. Furthermore, Coinbase also assures that they would pay back their customers if any of their customers lost funds on the grounds of the security breach.
Through this feature, Coinbase wins the trust of its customers since the probability of being subjected to online fraud always haunts the users.
It offers you a dual trading platform
Coinbase has a unique feature, and it runs two different platforms simultaneously. One is Coinbase, and the other is Coinbase Pro.
Either of these platforms allows you, as a user, to trade cryptocurrencies in the form of buying and selling, but they differ in their specific features.
First, talking about Coinbase, the merit of Coinbase is that it is user-friendly. As a beginner, you can easily understand the specifics with basic computer knowledge since every detail is described lucidly in the dashboard.
Coinbase can be operated from either phone or laptop. Since you can operate Coinbase via phone, you can technically engage in cryptocurrency trading throughout the day.
Now talking about Coinbase Pro, like the name suggests, it has a few advanced features compared to Coinbase. Anyone is eligible to use Coinbase pro if they have a Coinbase account.
Summing up: cost per trade, Coinbase, cryptocurrency trading
The world is witnessing a phase called the ‘Coinbase effect.’ This is due to the massive popularity Coinbase is gaining lately.
Initially, the population lacked knowledge about cryptocurrency, but today we see that a considerable percentage of the population is well-versed with the concept of cryptocurrency.
Not only the importance of cryptocurrency is limited to this, but a considerable section of society is choosing this as their profession.
Though Coinbase has many advantages, there are a few disadvantages as well:
- Coinbase has a high transaction charge. It might fluctuate, but generally, it is more than its counterparts.
- Though Coinbase has a very appreciable customer service, there are very few cases where the customers were not satisfied with the Coinbase employees’ solution.
- Coinbase has an impressive range of over 100 types of cryptocurrencies, yet many other cryptocurrencies are yet to be included in Coinbase.
- Cryptocurrencies of any kind are subject to risk.
You can never be secured since all your transactions are being online. Therefore, though Coinbase claims to secure its customers’ money, you need to be careful when undergoing online transactions.