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Coinbase Bitcoin Wallet Review

Coinbase Bitcoin Wallet Review

Author
Users
  • Reliability
  • Security
  • Transparency
  • Exchange Fees
  • Customer Support

About – Coinbase is an E-wallet, with headquarters at San Francisco, CA for sending or receiving digital currencies in the form of Bitcoin. They are the largest broker of Bitcoin with over $4 Billion Plus exchange of currencies through their medium.

Services offered and Features

Coinbase offers purchasing power for Bitcoin and Ether in the form of wallet. First of all, you need to sign up through their website or app with your email id and password. Then link you Bank account with it and verify your identity through phone number. You can now purchase and sell the Bitcoin as and when you require. (Maximum Purchase – 10 Bitcoin a day & Maximum Sales – 50 Bitcoin a day).

Here you can also store the currency in your e-wallet which is provided by Coinbase Inc., where the money would be kept confidential and there would also be insurance cover to your money, so if any hacker tries to steal it, you would get the cover of the same. They offer only two currency exchange services, i.e. Bitcoin & Ether. They act as an intermediary or broker and initiate the transaction.

Reliable?

From varied reviews on the Google Play store and other websites, it has received both good as well as bad reviews from the users. But if we look on the Play Store reviews, it has got high ratings in comparison to their competitors. It is very much useful and handy for PayPal users, as this app works the same as the PayPal works.

Security

The security in this app is highly confidential. As they are having three tier security, the user according to its financial capability and wallet balance, would choose the level of security his/her wallet requires. The three levels of security are:

  1. Wallet
  2. Vault
  3. Multisig Vault

Trading Platforms

As already mentioned it is present in 33 countries of the world and has app as well as website which are backed by very high net worth venture capitalists. According to companies report, they have at present around 4.2 million users which are active in there company.

Transaction fees/charges

The transaction charges or the processing fees are 1% of every transaction you make (either Bitcoin or Ether). The modes of payment through which the Bitcoin can be purchased are – Bank Transfer, Debit Card (Visa Card only), PayPal, Credit Card, SEPA Transfer, EFT Transfer, etc.

Pros

The advantages of using Coinbase for purchasing Bitcoin are:

  1. Very Easy and User Friendly
  2. Can Link your PayPal Account with it
  3. Customer Care services offered by the company is very nice
  4. Very Quick and Instant while transacting
  5. Lots of Security features to keep your data and currency safe
  6. Owned by Large Investors based at U.S.

Cons

The disadvantages of using Coinbase for purchasing Bitcoin are:

  1. User reviews are quite a question for company as many users are facing many issues while transacting.
  2. Maximum amount you can purchase and sell is very low.
  3. Charges of 1% are higher in comparison to others.

Summary

So concluding the review of Coinbase, it is good company with really good features which is very much useful for the users to use it. Much Reliable with good security features too.

4 Comments

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  4. Great review! I’m all about Coinbase… They are US based, they are regulated by Uncle Sam, and I have been using them for a long time with no issues.. People complain but I broke down the pros and cons at my site.

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