The rise of virtual money, which started with Bitcoin, initiated a rapid growth of many services, main and foremost important of them being cryptocurrency exchanges. This is easily explained by the fact that people needed some trusted and well-functioning services to buy crypto coins for fiat money and vice versa. Another booming industry is online gambling, and since bc casinos simply cannot accept all of the existing currencies, people needed to exchange their Litecoin or Bytecoin for Ethereum or Bitcoin to be able to make a deposit. At the same time, while the use of virtual money is becoming more common now and many stores accept it as a payment method, many gamblers are looking to convert, say, the Dogecoin they’ve won at a blockchain casino into US dollars for various reasons. And when there is demand in something, there will be those coming up with ways to supply it. One of the portals to do just that was Coinbase, which in its run has become an exemplary crypto currency exchange. In our Coinbase review, we are about to find out what makes it one of the best services of a kind, and how it manages to hold its positions.
Coinbase was founded in San Francisco in 2012 and was destined by its developers to become the most convenient way to exchange cryptocurrency. Easier said than done, but after a series of implementing new tools, introducing important updates, and tailoring the site to the needs of its customers, Coinbase became a leading exchange on the Internet.
Currently, the platform has been used by more than 20 million people and has helped to trade over $150 bln. These impressive figures would have not been achieved if it had not been due to the hard work of the team. However, upon visiting the Coinbase site, one can fail to see anything special about it: just a plain white-blue design and nothing that would make it look especially memorable. But as they say, true genius lies in simplicity, and achieving that simple look of the site that is also convenient and properly operating takes real skills and knowledge of the subject.
The Coinbaise interface shows you all you need to know about the current situation in the crypto world, like graphs with prices and rate changes. So if you are not in a hurry to make the trade, you can check the site regularly to analyze the provided data and make a successful exchange. Coinbase also has a mobile app you can install on your Android or iOS device to make the monitoring of certain currency status even more effective. The prices are updated every second, so you will always know when it’s best to make a trade.
Once you are ready to get started, you will need to go through the Coinbase sign-up process. New users are asked to provide their full name, email, state, and password. The next step requires attaching a bank card and completing verification. After that, the Coinbase sign-up is done, and a user can start adjusting personal settings to individual needs.
For example, there is no need to make all of the purchases on your own. There is an option to set a daily or weekly amount to be traded automatically if certain requirements are met.
Although the Coinbase site administration provides analytical tools for monitoring current trends, it emphasizes that the platform does not act as a consultant. The users are free to interpret the available statistics themselves and make decisions on further actions.
Trading and Orders
To see the available amounts and cryptocurrency rates, you should visit the Order Book. There, it is possible to sort the orders by various parameters like the Limit Order, the Market Order, etc. For those who are new to the cryptocurrency exchange, Coinbase has prepared an extensive guide with thorough explanations of all the necessary terms a trader should know.
Trading is done using several Coinbase products, designed for different types of customers based on their needs. Whether you are a representative of a business or an institution, an experienced trader or just an individual willing to buy or sell some Bitcoin, you will find the proper program with the best options for your case.
There are no reasons to consider Coinbase scam because it is a reputable site that has proven its reputation times and again. Favorable reviews, positive feedback from satisfied traders, and a steady flow of customers clearly demonstrate that the platform is not a hoax.
Speaking of Coinbase, scam, and security, whenever a site is dealing with large sums of money, be it a Bitcoin casino or a cryptocurrency exchange, it puts itself in danger of being hacked. Surely, this is not something new to the people behind Coinbase. Scam protection consists of the latest encryption methods and advanced defensive mechanisms. This is also the reason why users need to complete verification and prove their identity as the company wants to restrict access to the site to anyone who may have foul intentions and wants to remain anonymous.
The Bottom Line
Summing up this Coinbase review, we would like to point out that it stands for everything a cryptocurrency exchange should be. While virtual money like Bitcoin, Ethereum, Litecoin, Dogecoin, and countless others are still evolving and gaining the trust of potential users, it is important to have platforms facilitating their usage. Coinbase is striving to provide the best conditions for obtaining and selling crypto coins and is very successful at that. Millions of people are using the Coinbase site due to the convenience it has to offer to traders and various products tailored specifically to the needs of different groups. By 2018, it has achieved a lot in becoming a top cryptocurrency exchange, but the team is constantly working on maintaining that status and introducing improvements. We strongly recommend all crypto casino visitors to download the mobile app to be informed about the best rates and follow Coinbase on social media to get notifications about important updates.