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May 16, 2022

Why Choose Coinbase Exchange For Beginners?

Introduction of Coinbase

Coinbase is a cryptocurrency trading and investing platform that offers users the ability to buy, sell, and exchange over 100 tradable cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. Coinbase is a large company with over 89 million users and $278 billion in assets on the platform.

Beginners will likely prefer the original Coinbase platform for simple buy and sell orders. More advanced users can access additional features and order types through Coinbase Pro, available to any Coinbase user.

Cryptocurrencies are a relatively new asset class that can be risky and volatile, which is not suitable for all investors. However, if you are interested in cryptocurrency, Coinbase is an excellent option for newbies and veterans alike.

Coinbase operates with users in more than 100 countries, and customers trade approximately $547 billion per quarter. Coinbase manages a robust cryptocurrency ecosystem supporting 11,000 financial institutions.Coinbase runs two separate trading platforms in addition to a standalone cryptocurrency wallet service. Between the suite of Coinbase products, youre likely to find anything you need to start and manage a cryptocurrency portfolio or trading plan.

 

Pros

 Easy to use for cryptocurrency beginners: The main Coinbase website and mobile app are very easy to use and allow you to buy, sell, and exchange cryptocurrencies quickly.

 Support for a large number of cryptocurrencies: Coinbase currently supports over 100 currencies for trading, and the number grows regularly.

 Opportunities to earn cryptocurrency: Earn interest on eligible balances, or get a small amount of a new currency through Coinbase Earn.

 Lower pricing available with Coinbase Pro: Any user can switch to Coinbase Pro, an active trading platform with more features and low fees.

Cons

 High transaction fees: Transaction fees are often expensive on the primary Coinbase platform.

 Customer service issues: Coinbase gets poor marks for customer service, including in the event of serious account security issues.

 

Opening a Coinbase Account

Signing up for Coinbase is a reasonably quick and easy process similar to opening a new bank or brokerage account online. Plan on entering your personal contact information, including your Social Security number, to open a fully verified account.

 

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Disclaimer: Cryptocurrency investment is subject to high market risk. TOPSINMETA is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.