Coinbase Review 2018

Coinbase.com is the website of Coinbase, a company based in San Francisco, California, that allows customers to buy financial assets using a range of digital currencies such as Bitcoin and Ether. Coinbase.com operates as both an online wallet and a financial asset trading platform. Officially, it is a financial asset broker.

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Based on 6 Reviews
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About Coinbase

The company was founded in 2012 by Fred Arhsam and Brian Armstrong, and began trading in digital currencies a few months later. Throughout 2013 Coinbase received a number of large investments from different sources that allowed the company to grow rapidly. Passing 1 million users in 2014, they soon began offering a secure Bitcoin storage facility. They formed partnerships with a number of leading IT companies such as Dell and Expedia. More large investments came in through 2015. LinkedIn estimates that the company currently has between 50 and 200 employees. Coinbase was valued at $1.6 billion in August 2017.

Coinbase allows users to buy, sell, store and transfer various different kinds of fiat currency and digital currency. It offers this service for free. Digital currencies are exchanged via the Global Digital Asset Exchange (GDAX), formerly called Coinbase Exchange. This trading platform operates in 190 countries across the globe.

Coinbase's other main service is a retail brokerage system that allows users to exchange fiat currency for digital currencies and vice versa. 31 countries' fiat currencies are currently supported on the site. In addition, the company offers an API so that developers can work with them to build new financial applications.

According to the company's own statistics, they currently have 12.4 million users, almost 42 million wallets, 47000 merchants and 11000 developer applications. 7.4 million users were confirmed to be on the site in May 2017, meaning that if the current figures are accurate, the number of customers using Coinbase.com has almost doubled in the space of 6 months. Further, they claim to have raised almost $120 million dollars from their large range of different investors.

The company has an explicit mission statement which they have published on coinbase.com. Situating themselves within the context of a desired international movement towards more open and decentralised finance in the wake of the 2008 global financial crisis, they state that they aim to make financial services more widely available, and that this will accelerate innovation through the easier provision of investment funds, as well as helping to alleviate poverty.

These goals form the basis of a ten year plan which they claim to be pursuing through a commitment to improving customer relations and increasing ease of use of the company's platforms.

Disclaimer

 


All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice.

Ian Z., Reviewed July 5, 2018

Been buying and selling bitcoins via Coinbase for years, even back when the price was very low. Unfortunately never kept my hands on all of my bitcoins but I have repeatedly made profits. Sometimes the transaction fees are a bit high, because the bitcoin network is busy. It's advisable to wait for a while until the network quietens down. This can make a different of a couple of euros for each transaction. It's a shame you can't set the transaction fees yourself, or change them. It is however free of charge to send your bitcoins to other Coinbase users.

Jonah G., Reviewed July 4, 2018

The site is sometimes very slow when I'm looking to trade in bitcoins. If you don't add servers eventually I will move to another platform. The transaction fees are also far too high. Not satisfied with Coinbase in the past weeks. It feels like the more customers they get, the worse the service becomes.

Bryan F., Reviewed June 28, 2018

Bought Bitcoin as well as Ethereum with Coinbase, on the recommendation of a friend. If you invite friends yourself you can earn an extra 10 dollars per invite who also buys Bitcoins. I've earned 150 dollars on bitcoins this way. If you want to create an account with Coinbase, use my link and we both get 10 dollars discount.

Flynn H., Reviewed March 11, 2018

I accidentally sent money to the wrong address. Contacted Coinbase customer service straightaway and luckily the account belonged to Coinbase so they were able to transfer it back. Thank you Coinbase, I was afraid my money was gone for good. So double check to make sure that when you send bitcoin you enter the correct address.

Luke R., Reviewed January 8, 2018

The website is set up very easily, everything is very clear even to a beginner like myself. Today I bought bitcoins for the first time. I paid with credit card and the bitcoins were visible instantly. I'm going to make my first purchase with a bitcoin shortly.

Ted H., Reviewed December 28, 2017

It took a while but Coinbase finally received my bank transfer. It took up to 7 days before they got my money and I got my bitcoin. I recommend to pay by PayPal or credit card rather than using bank transfer. Within a week bitcoin went up by 10% so I got a lot less bitcoins for my money than I'd originally counted on a week earlier. I sent an email to customer service requesting compensation but they wouldn't assist me with this. In future I'm going to use my credit card to buy bitcoin, which means you receive them in your wallet straightaway.

Disclaimer

 


All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice.

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