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Coinbase Reviews - Check if this site is SCAM or LEGIT?

What is Coinbase
Coinbase is a US based Billion dollar cryptocurrency trading and wallet company, it was founded in June 2017. Coinbase's headquarters is located at San Francisco, State of California, USA.

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Three crypto enthusiast an Airbnb engineer (Brian Armstrong), a trader at Goldman Sachs (Fred Ehrsam) and founder of Blockchain.info (Ben Reeves) co-founded Coinbase, but Reeves lest the team due to differences; Armstrong & Ehrsam together developed it.

Coinbase is the largest broker and wallet service of cryptocurrency in the United States; Coinbase have its own exchange version as “Coinbase Pro” provides service. Coinbase Pro which has more than 45 coins and more than 125 of trading pairs in Spot categories; it also has little unverified market, however, it has no Derivative markets in trading platform. Coinbase’s “Prime” version provides solutions for Financial Institutions, Institutional Investors, Liquidity Providers, Crypto Businesses, and Asset Issuers.

Coinbase, Coinbase Pro & Prime have different fees models. Coinbase fees depend on liquidity provided, more the transaction amount lesser the fees. In Coinbase Pro & Prime, Maker & Taker fees starts from 0.5% which is significant higher in comparing to exchange platforms, however, those fees keeps dropping till 10 levels; these levels are determined on trading volume performed in last 30 days, fees go down as low as 0.04% for taker and 0% for maker.

Coinbase charges no fees for storing fiat or cryptocurrencies; any transaction from Coinbase to Coinbase is also free, this helps the company to promote business within the platform; transaction outside Coinbase charges fees which starts from 1.49%.

  • Global Platform: - Coinbase is providing Crypto-Fiat broker services in 32 countries; it is also providing crypto transaction and storage to its members worldwide, it has membership of more than 13 million users in 190 countries.
  • Strong Platform: - Coinbase did several developments to make itself strong platform, such as support from financial firms like Andreessen Horowitz, Ribbit Capital, New York Stock Exchange etc; acquiring important platforms like bookmark and share tool 'Kippt', blockchain explorer and distributed public ledger 'Blockr.io', blockchain analytics 'Neutrino' (2019); crypto payments partnership with other firms like Expedia, Dell, Dish Network, Overstock.
  • Regulated Company: - Coinbase has obtained the virtual currency trading license called 'BitLicense' from the NYSDFS (New York State Department of Financial Services).
  • Easy Verification: - As a regulated trading company, Coinbase does require KYC verification; however, the verification process takes 3 minutes in average.

  • Payment Error: - In 2018, credit / debit card users were overcharged for crypto purchases, Visa and Worldpay blamed Coinbase for system error.
  • Anonymity Issue: - As a regulated company, American authorities have the right to identify the user of Coinbase, for example in 2017 United State IRS' order to Coinbase to find users who did $20k / year transaction.

Coinbase has its own earning program which lets the user to learn certain crypto works and earn some amount of crypts like Compound, XLM, DAI, EOS etc. Under this program, users just have to watch videos and complete some questions & answers in Quiz format; this feature helps users to earn free cryptocurrencies and understand the crypto.
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