Coinbase Exchange

Founded in 2012, Coinbase was one of the first highly accessible on the market, prioritising ease of use & setting a lot of standards in the process. Although a great choice for first time traders, this exchange charges more fees than most other exchanges; with fees on most parts of the process. Users should expect a spread of 0.50% on all cryptocurrency buy/sell orders. On top of this, an additional "Coinbase Fee"; a flat fee/variable percentage fee determined by region, payment type and product feature.

For example, a $100 purchase of cryptocurrency incurs a flat fee of $2.99, due being greater than the 1.49% variable percentage fee. This is increased to a 3.99% variable percentage fee if purchased via debit card. Total transactions less/equal to $200 are charged 2.99 of your respective currency. Also charges a spread margin of up to 2% on any crypto-to-crypto conversions (e.g: BTC to ETH). Although offering fiat-to-crypto, crypto-to fiat & crypto-to-crypto options, having fees on all of these can quickly add up.

However, this platform is also very secure, with 98% of funds in cold storage and fully insured. It offers a good range of options, with approx. 48 cryptocurrencies to buy, sell and hold; with staking options for ETH2, XTZ, ATOM and more. The local currency wallet allows users to easily make purchases in their native currency, helping to combat any confusion sometimes brought with unfamiliar currency conversions.

Their support is known to be slow & unresponsive at times, with some accounts also hacked in the past; however these could be due to user error, as there have never been any significant security breaches. Whilst their security has come a long way since conception, support remains fairly disappointing. Although if its a straightforward & easy-to-use exchange you're after, Coinbase could be the one; provided you don't mind paying a few extra fees. Learn more about this platform with our pros & cons below.