The Essential Coinbase Review

Written By Melanie Green
Last updated March 2, 2022

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March 2, 2022

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Cryptocurrencies are among the best investments to make right now. With the growing number of currency options having a central place to store and transfer cryptocurrencies. Coinbase fills this need by letting users create accounts and store all of their cryptocurrencies.

As cryptocurrencies continue to evolve, platforms like Coinbase are expected to grow in popularity. Here is our Coinbase review to help you decide if Coinbase is worth trying or not. 

Coinbase Review

Coinbase website

Coinbase Review image
  • Best for: Overall cryptocurrency needs.
  • Price: Coinbase charges hefty fees compared to some of its competitors, which you can do when you are the #1 name in cryptocurrency options. A bank transfer will run you 1.49% of your payment. If you want to use a debit or credit card, it will cost you 3.99% of your payment.
  • Options: Coinbase offers three services to use: a brokerage, cryptocurrency exchange and a wallet. The brokerage allows you to purchase your Bitcoins. The exchange allows you to trade Bitcoins and other cryptocurrencies. The wallet holds your currency in a secure environment to keep it safe. Most exchanges and brokerage sites are not as secure as a cryptocurrency wallet.
  • Pros: Coinbase is the biggest Bitcoin brokerage currently available. Its interface is very easy to use and especially designed for beginners to cryptocurrency. It also offers higher buy limits than its competitors.
  • Cons: Since Coinbase is so popular, it can charge more for its services, which it does. It also only allows two methods of payment, while competitors offer more options.

When working with cryptocurrencies, users often find that they can be difficult to manage and use. Since crypto is entirely digital, using it in real-world applications can be tricky. Coinbase is a system that tries to make using cryptocurrencies easier by providing several services that users always need. 

Having these tools in one system makes it much easier to manage your cryptocurrency accounts. You don’t have to switch between apps, systems, or brokers to make everything work. Instead, keep it all within one system that gives you easy access to everything that you need. 

To make cryptocurrencies accessible to everyone, Coinbase has several features that are designed to make acquiring and using cryptocurrencies easier. Here are the cryptocurrencies 

Coinbase Wallet

Coinbase is a cryptocurrency wallet, a program that you need to store your cryptocurrencies. Every cryptocurrency works by giving you individual units, which need to be stored somewhere. While you can use a harddrive like a physical wallet, it is better to use a system that is always online and verifiable. When a transaction happens, the cryptocurrency is transferred from your wallet to the wallet of another user.

Your entire Coinbase wallet account is kept online, eliminating the chances of losing your it. There are many case examples of Bitcoin miners losing their investments when harddrives fail and their wallets are lost. You never have to worry about this since Coinbase keeps everything backed up using cloud infrastructure. More than that, Coinbase gives you access to your wallet no matter where you are. As long as you have an internet connection, you can manage your cryptocurrency.

Coinbase Trade

Aside from storing your cryptocurrencies, Coinbase also serves as a marketplace to buy and sell cryptocurrencies. Other users have cryptocurrencies that they want to trade. Traditional trading methods can take too long, making it harder to use your digital money on the go or to capitalize on market changes. 

With Coinbase, you gain access to a large network of users with different kinds of cryptocurrencies. Trading can happen quickly since the system handles the entire process. Plus, you don’t have to worry about hidden transaction fees from different brokers when trying to process a trade. 

Having the ability to trade your cryptocurrencies from your wallet also means that the funds are available for you to use right away. As soon as the trade is confirmed, you’ll have access to your new currency which makes Coinbase Card an even better feature. 

Coinbase Card

One of the biggest problems that crypto owners have is trying to convert their crypto into cash so that they can spend it anywhere. Coinbase Card cuts out the middleman and lets you spend your crypto as if it is cash. 

Coinbase Card is a Visa Debit card that connects directly to your Coinbase Wallet. You can spend your crypto anywhere that Visa is accepted. In essence, you can use it to turn your crypto into cash without having to worry about making money trades beforehand. Just use your card and spend your crypto, bringing you one step closer to replacing your government-issued money with a usable decentralized currency. 

Coinbase is a big step up from managing your cryptocurrencies on your own. There is something to be said about having multiple systems that you need rolled into one. It is much easier to use and removes a lot of the hassle of using cryptocurrency in your everyday life. 

Compared to other cryptocurrency systems, Coinbase is one of the major up and coming players in the space. It is making a name for itself by offering quality services that you likely need and at reasonable prices. However, it is not the most well-known or widely used option available. 

Other companies, like Binance, have a bigger user base. The difference is that Coinbase offers more comprehensive and integrated services than nearly all of its competitors. This makes Coinbase one of the most versatile options available. 

Coinbase is also designed for easy adoption by new crypto holders. A modern interface that is easy to use, mobile-focused, and supports fast performance makes managing crypto easy, even for someone with minimal experience in the crypto space. 

Coinbase is also able to support operations overseas. Many crypto management systems are limited by what countries they work in. Coinbase works internationally so that you can travel while managing and spending crypto as you go. 

Coinbase is a platform that anyone should try. There are a lot of advantages to using Coinbase over other systems and it is designed to be accessible to anyone. Whether you are new to crypto or you have years of experience, you can get the benefits that you are looking for from Coinbase. 

New Crypto Owners

Coinbase may be especially helpful for new crypto owners. The integrated services, available support, and easy-to-use interface keeps the learning curve low so that you can focus on your crypto instead of the system that you need to manage it. 

Coinbase also tries to provide a lot of information about how cryptocurrencies and related services work. For anyone new to the space, getting a basic understanding of the cryptomarket can be the key between success and failure. 

You need a system to help you manage your cryptocurrencies. Coinbase, given all of its potential benefits, is worth a try. There are cases where you may find that you prefer another system or to manage the different parts of owning crypto by yourself. However, the promise of an integrated system with a reliable IT infrastructure and support can mean the difference between keeping your crypto and being able to use it in your everyday life. If you want a system for managing crypto that is easier than what you are currently using, give Coinbase a chance. 

About the Author

Melanie Green

I'm a professional freelance writer living in Tampa, FL. I've been freelancing full-time since 2012, maintaining key relationships with my clients through always aiming to exceed their expectations. I have an MFA in Creative Writing with a concentration in screenplay writing from National University, as well as a Bachelor of Arts in Writing. I love writing about a wide range of topics including movies, technology, food and business marketing.

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