Reasons why people like Coinbase
We all have witnessed how cryptocurrency is changing the way people make business.
A cryptocurrency is a form of digital currency that works on a blockchain system so there is no possibility for any counterfeit activities.
To begin with, there are numerous cryptocurrency exchanges to buy and sell various types of crypto coins. But as a hand-picked and best one, Coinbase tops the market due to its tremendous capabilities that make crypto transactions a complete breeze.
So want to know the exciting reasons behind why Coinbase is people’s favorite?
In this article, I will be sharing the predominant reasons as to why people like Coinbase so you can understand its potential and decide how it helps in maximizing your revenue.
If you are new to Coinbase first let me explain what it is and the product offerings so you’ll get a clear idea before investing in it.
What is Coinbase?
With over 56M+ customer base, Coinbase is one of the largest cryptocurrency exchanges in the world supporting a majority of the US states.
By crypto exchange, it means that you can buy and sell popular digital currencies like bitcoin, ethereum, dogecoin, litecoin, and the list goes on.
In addition to this, Coinbase also lets you invest in cryptocurrency gradually over time by scheduling buys daily, weekly or monthly which occurs in a recurring manner. This helps in the steady growth of your crypto wallet as you can have a long-term profitable investment.
Next, we shall see the different kinds of products offered by this popular crypto exchange platform.
Products offered by Coinbase
Coinbase offers different kinds of products that include:
- Crypto Investing (Buying and Selling)
- Coinbase PRO – A trading platform for both individual traders and crypto enthusiasts.
- Custodial accounts – Designed for institutions and companies who want to trade digital currencies.
- Digital Wallet – Coinbase app available in Android and iOS.
- Its own US Dollar – Stablecoin by Coinbase.
Reasons why Coinbase is people’s favorite
In this section, we will discuss the various outstanding reasons why Coinbase seeks huge popularity amidst other crypto exchanges in the world.
1. Coinbase is beginner-friendly
Crypto is definitely a wide subject and requires smart moves to become successful. So this is dependent on the crypto platform that you choose to invest in.
Ultimately Coinbase is one of those few platforms that is completely beginner-friendly. The interface is intuitive and easy to navigate. It has a simple UX that guides you in making crypto investments in an easier manner without any hassle.
Its dashboard gives you a quick view of your portfolio holdings, price earned, latest activity, and instant access to other settings on the side panel.
Besides, Coinbase also provides tips&tutorials, crypto basics, market updates, etc so you get a strong foundation in the process of crypto buying and selling to achieve huge profit.
2. Supports a long list of coins
Coinbase supports 60+ assets. Some of the most common as well as top-grossing coins include Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Tether, etc.
On the whole, Coinbase has a wide collection of crypto coins and it keeps adding regularly. This results in the huge expansion of this crypto platform as individuals are given more choices to invest and trade with.
3. Coinbase Commerce – Great Payment Gateway for eCommerce
With the advent of cryptocurrency, eCommerce companies have started accepting crypto as a form of payment. Coinbase commerce enables eCommerce merchants to accept different forms of cryptocurrencies like bitcoin, bitcoin cash, litecoin, etc and is available in 100+ countries.
An interesting fact to highlight is that it doesn’t charge any transaction fee on processing crypto payments. It supports Shopify, WooCommerce and you can use its API to connect with other platforms too. Besides, you can also sell your crypto for cash or USD coin.
4. Offers excellent security features
One of the most popular reasons that people like Coinbase is its top-notch security offerings. All the data will be stored offline and sensitive data is disconnected totally from the internet which prevents any potential breach, attacks, or loss.
Another aspect is that the data is split with redundancy, undergoes strict encryption, and is copied to FIPS-140 USB drives and backups. These in turn are distributed geographically in secure deposit boxes and vaults across the globe.
In addition to this, Coinbase also maintains a crypto-insurance, and all the USD cash balances are backed by FDIC insurances upto a maximum of $2,50,000. This is extremely cool, isn’t it?
5. Dedicated Mobile app for Android and iOS
With over 10M+ downloads, Coinbase has an exclusive app built for android and iOS. By using Coinbase’s e-money wallet you can easily track, store and transfer your digital currency in a secure manner anywhere at any time.
Similar to the desktop site, you can access all the information at your fingertips in a quick manner. It has a clean-to-use and simple interface that displays the prices and values of your crypto assets.
Another favorite aspect that I admire is, it allows you to lock your app with a passcode or remotely disable the access if your mobile gets stolen. Also, it includes multi-stage verification and bank-level security.
6. Collect and earn crypto to increase your portfolio
Coinbase is unique and that’s what has made people like and trust this platform. Apart from the crypto exchange and trading, Coinbase also boosts your portfolio by letting you earn coins in an incredibly easy way by giving you access to its Coinbase Earn program.
Coinbase Earn basically permits eligible users to learn about various cryptocurrencies via educational content. For example, if there is a lesson about bitcoin you can unlock the content, complete a short quiz or task to test your knowledge about it and you’ll be rewarded with a fair amount of bitcoin.
This is a win-win situation as you can learn about crypto as well as get more coins that increase your earnings. This is how Coinbase empowers its community of members to become an expert in crypto-related activities.
Another way that Coinbase allows people to earn more crypto is by referrals. You can earn additional crypto on certain Coinbase earn opportunities by sending invites to your peer groups with a referral link.
However, you must adhere to certain conditions and only if it is met you can claim the rewards. This is surely an exciting thing to cherish for crypto enthusiasts.
Hopefully, these are the most obvious reasons as to why people like Coinbase which makes it a great crypto exchange platform for all users.
In terms of cryptocurrency transactions, the fees might vary based on buying, selling, or converting cryptocurrencies. However, the fees are calculated based on various factors and once it is finalized they will be displayed on the trade preview screen before your transaction is submitted.
On the other hand, when you use a Coinbase card, it charges a transaction fee of 2.49% on all purchases like ATM withdrawals that are made with other cryptocurrencies.
So to view the complete disclosure of Coinbase pricing click here.
Anybody who is highly interested in exploring and boosting their crypto earnings then Coinbase would be my recommendation. It is user-friendly, offers different types of crypto coins, and above all you can secure your transactions which is the most important factor for developing trust in the platform.
Coinbase is a solid crypto exchange platform as it offers different services like Coinbase Pro, Coinbase Wallet, etc which acts as its rapid sign of growth. If you are a first-time crypto investor looking to get started then Coinbase is one of the best choices.