Other than bc casinos, there are many cryptocurrency platforms and exchanges that can be of interest to a gambler. The Coinbase site has been around since 2013 and many reviews have something good and not so good to say about it. In this Coinbase review, we’ll cover the key specificity of this bitcoin exchange so you can justify the reliability of the portal yourself. Bear in mind that it is not a crypto casino, a slot site, or a gambling site. So, why would anyone rank the platform and add it to the top 2018 list?
The Coinbase site is a place where you can buy or sell Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic. Don’t be tricked if someone calls it a Coinbase casino, no crypto games are found here.
Originally, this cryptocurrency exchange was developed by a team of software adepts led by Brian Armstrong. As a retail-oriented company, they got their license in 2017. In 2018, they also obtained a license from the FCA (Financial Conduct Authority), which enabled them to work on the territory of the UK. Later on, they also became the third online trader to receive the New York BitLicense.
Today, it’s one of the best and largest cryptocurrency companies that operate worldwide. The Coinbase site operates in 33 countries and already has gathered a community of over 20 million users. What’s more, Coinbase is backed up by dozens of investors and major players in finances, which is what common cryptocurrency customers don’t really like.
All in all, Coinbase brokerage platform has raised more than $200m from top investors like Rabbit Capital, Andreessen Horowitz, and The NYSE. Other than brokerage service and selling bitcoin to customers, they offer merchant solutions, a hot wallet, and trading options as well.
Obviously, this is not a slot site or a crypto casino, so no crypto games to play here. Coinbase site is a place for cryptocurrency players who want to trade bitcoins and aim to grow their bitcoin fortune. So, let’s move on to feature and see what’s there to note about the website.
Just like with any blockchain casino or a bitcoin casino, before using the service, you pass a registration process. The Coinbase sign up is not difficult and if you apply as an individual, you will have to provide a full name and an email address. For business accounts, they have two options to choose from Institutional Investing and Merchant Services.
Speaking of the way this online exchange is presented, it looks more like an application with a simple yet fully-functional interface rather than a trading portal. There are comprehensive charts on the main screen and multiple tools that you can switch to as well as timeframes. At the bottom, you’ll find wallets and transaction history. It is very simple in terms of usability and comprehension. This year, they also launched a mobile wallet for Android and iOS devices, which you can use to access your money, which is handy.
Coinbase site provides a decent knowledge section with a detailed explanation of what provably fair technology means. What’s more, they have a support team who handles all queries via email or phone line. In general, customer support gives a good impression.
Other than that, Coinbase has an affiliate program that rewards partners for bringing new customers. However, there are many internal complaints that bring this brand down in the rank of bitcoin community leaders. Actually, negative opinions always influence the casino rating in the case with bc casinos as well as ranking in the case with online traders. So, what puts them down the ladder? We found that many reviews complain about payouts. There are a few feedbacks, saying that Coinbase failed to pay off the promised commissions by the affiliate program. Be aware of this if you plan to become their affiliate or VIP customer.
Bonus Offers and Promotions
Certainly, just like with games, you won’t find here any deposit bonus or reward. What really matters here are fees that get considerably lower if you opt for Coinbase PRO. In this respect, you get a sort of promotion from the platform. The structure of fees seems a bit confusing and it may take time to figure out the best ways for depositing and transactions. All in all, there are offers that can save you some cash.
This trading spot is very controversial since complaints about Coinbase scam often arise on the web. However, ever since the company started using the blockchain technology, all possible hacks were eliminated.
On the downside, you have to be aware of the way your funds are stored on the Coinbase site. Basically, it works like a traditional bank. Once you put the money on your account, you can’t have a direct access to it. You have no seed phase or a private key because the website keeps it stored for you.
Deposits and withdrawals
This online exchange supports many cryptocurrencies, namely Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic. When you start with Coinbase site, you can use wire transfer as well as a debit or credit (Visa or MasterCard) card and PayPal (for US customers) to fund an account or use cryptocurrency. There is a small charge applied that’s lower than 4%. If you use fiat currency for an account, you can trade it, and the fees will be about 1.5%, and that’s actually high. In case of cryptocurrency transfers that are made to exchange wallets, no fees apply.
What’s more, at the time of funding the bitcoin rate can be a bit off the market price, which is reasonable in case of the volatile asset. The initial limit varies on the currency you want to purchase and your location. Let’s say, the US customer can buy up to $1,000 in Bitcoin equivalent per week. You can always increase the limit by passing verification steps. Once you verify your phone, personal information, and photo id, you can then purchase up to $25K per day.
The Bottom Line
Despite quite a few negative reviews, Coinbase has a good reputation in the crypto world. It provides brokerage services with clear-cut schemes, which are easy to understand if you are a newbie. Along with the opportunity to buy and sell bitcoin, they launch CoinBase Pro that allows customers to trade altcoins. The website has a mobile wallet and merchant solutions. Using Coinbase, you can acquire big amounts of cryptocurrency even if you are not so familiar with it.