Coinbase Exchange is the largest crypto trading platform in the US and one of the world’s leading cryptocurrency exchanges. It was launched in 2012 by Brian Armstrong & Fred Ehsram. Being a broker exchange that offers high liquidity, the Coinbase Exchange operates worldwide in more than 100 countries and trades in fiat and cryptocurrencies.
As per their website, Coinbase has over 56 million verified users and a total trading volume of above $455 billion. What’s more interesting is that this crypto trading platform is enabled with cross-platform support, registered with FinCEN, abides by the US regulatory laws, and is also protected by insurance covering unprecedented hacking events.
Let us determine the Coinbase Exchange offers’ innumerable advantages and why traders should consider trading through this exchange over the other 200+ exchanges.
How Does the Coinbase Exchange Function?
Getting started on this cryptocurrency trading exchange is more accessible and possible in just a few moments.
- An email id can help traders create an account on the platform. Customers will also need to provide their name, password, and phone number(for 2FA). Further, they have to verify the email and number followed by giving some valid ID proof.
- They can link their bank account directly after creating a trading account. A wallet is also available where users can deposit funds via multiple payment methods.
- Post this, and customers can begin trading cryptocurrencies.
- Above the portfolio balance, traders can find a “Buy crypto” button to purchase crypto coins of their choice and sell crypto assets.
- Traders can utilize a Python trading bot to automate the trading process.
Advantages of Coinbase Exchange:
Coinbase Exchange offers numerous benefits to its traders. Let’s see what they are?
- Coinbase Acts as a Wallet
Coinbase offers an on-site wallet that can store, purchase, and sell Bitcoins & altcoins. Further, USD can also be requested. The Coinbase wallet also provides a vault holding funds offline, secured by a password. Also, this vault is backed up for emergencies.
- User-Friendly & Advanced Trading Platform
The UI is simple for beginners. The platform also offers good tutorials for beginners. The Coinbase trading platform is enabled with logbooks, charting abilities, a simple ordering process, collects trade history, and even lets users perform backtesting.
- Facilitates Margin Trading
Margin trading is allowed by Coinbase, enabling customers to accept loans from brokers for investing in more trades, which intensifies the buying power and boosts profits of the trader extensively.
- Varied Accessibility
Coinbase Exchange’s website can be accessed via a browser or Android & iOS apps.
- Secure Platform
98% of the exchange’s funds are kept in cold storage. The platform is password protected and employs a two-factor authentication process for trading and fund transfers.
- Extensive Payment Options
Bank accounts, wire transfers, ACH transfer, Coinbase USD wallet, debit/credit card, crypto conversions are among the numerous payment options supported by this exchange.
Why Should Customers Trade Via Coinbase Exchange Over Other Exchanges?
Coinbase Exchange allows you to trade using fiat as well as for cryptocurrencies. It also provides users with its USDC crypto asset. It is a well-reputed, reliable, regulated, and highly secure plus insured trading platform. Coinbase is an excellent platform for newbies as it has a super easy UI to top everything else, hence fulfilling every trader’s ideal.
Coinbase exchange is a reliable place to begin the crypto trading journey. You can read more about the Coinbase review for detailed information about the platform here. Coinbase offers a virtual platform as well as an advanced trading platform called Coinbase Pro. Coinbase lists 4484 crypto assets, and more than 100 trading pairs are available on Coinbase Pro. Hence it does offer one of the best choices of cryptocurrency trading to traders in the world.