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    5. Coinbase Review 2023: Withdrawal...

    Coinbase Review 2023: Withdrawal Fees & Features

    Coinbase Singapore review

    Coinbase Review: Our Opinion

    Coinbase is arguably one of the easiest crypto exchanges to use in the world. Coinbase offers instant buy-and-sell services, popular digital assets, and a trading platform that caters to more advanced investors

    However, the Coinbase platform falls short in supported cryptocurrencies and Coinbase fees when compared to other top crypto exchanges.

    An Overview of Coinbase

    Coinbase Home page

    Coinbase is one of the only remote-first cryptocurrency exchanges in the world. The crypto exchange was previously headquartered in San Francisco, California, the United States but transitioned to become a remote-only company in May 2020. 

    The Coinbase platform was launched in 2012 by Fred Ehrsam and Brian Armstrong. Brian Armstrong was a former Airbnb engineer while Ehrsam was a trader at Goldman Sachs

    Currently, the Coinbase platform operates in over 100 nations. Coinbase offers more than 160 cryptocurrencies including DOGE, Bitcoin, Ethereum, and Litecoin.  

    The crypto exchange also has an NFT marketplace and a Coinbase crypto wallet. The Coinbase wallet allows users to manage their crypto holdings, buy and sell crypto, and trade digital currencies. 

    Coinbase offers staking services as well which enable users to earn crypto rewards. 



    Key Features of Coinbase

    Advanced Trade

    Coinbase Advance Trade features

    Advanced Trade is Coinbase’s replacement for Coinbase Pro. Advanced Trade is an advanced trading platform designed for advanced traders. 

    Just like Coinbase Pro, Advanced Trade gives users access to advanced order types such as stop orders, limit orders, and margin orders. 

    Users also have access to advanced features such as interactive charts, order book, trade history, and price charts, as well as, other Coinbase features like Borrow and the DApp wallet. 

    Coinbase Advanced Trade supports over 350 market pairs and also offers low trading fees using the maker-taker approach just like Coinbase Pro. 

    Users can earn up to 5% APY on supported cryptocurrencies such as USD Coin, Tezos, and Algorand

    As already stated, Advanced Trade was launched as a replacement for Coinbase Pro. But before Coinbase Pro is deactivated all Pro balances will be automatically moved by Coinbase to the Advanced Trade platform. 

    Coinbase Pro users do not need to create a new account to access Advanced Trade. They can access their account on Advanced Trade using the same username and password they used on Coinbase Pro. 

    Mobile app users are, however, expected to download the latest version of the Coinbase mobile app to access the Advanced Trade platform.

    Coinbase Wallet

    Coinbase Wallet Features

    The Coinbase wallet is a self-custody wallet that supports the storage of crypto assets and rare NFTs. As a self-custodial wallet, the wallet owner fully controls the private keys. 

    The wallet is not exclusive to Coinbase users as it can be used by individuals who are not Coinbase account holders. 

    The Coinbase crypto wallet allows users to swap assets on decentralized exchanges, supply or borrow cryptocurrencies using DeFi liquidity pools, join a DAO, and buy cryptocurrencies with credit and debit cards in over 90 countries. 

    Unlike other regular crypto wallets, the Coinbase exchange wallet replaced the alphanumeric characters used as Wallet names with usernames. 

    The usernames function the same as the alphanumeric wallet addresses. Every Coinbase user can create a unique username/wallet address on the Coinbase wallet.

    Coinbase Card

    Coinbase card on a mobile

    The Coinbase Card is a prepaid Visa card that enables cardholders to spend crypto directly from their Coinbase balance. The card is accepted online and offline anywhere Visa cards are accepted worldwide. 

    Cardholders can spend from their crypto balance in 8 cryptocurrencies. Currently, the supported cryptocurrencies are Stellar Lumens, USD Coin, Basic Attention Token, Litecoin, Bitcoin Cash, Augur, and Ethereum. 

    If the cardholder decides to make payments with crypto directly from their Coinbase profile, Coinbase will automatically convert all the cryptocurrency to US dollars, which the user will be able to use for purchases and ATM withdrawals. 

    There are no fees for spending fiat currency or crypto using the Coinbase card. There are also no tax implications for spending crypto or fiat currencies using the Coinbase Card. 

    Coinbase offers a rewards program from the Coinbase card. Cardholders can earn free cryptocurrency when they make payments for eligible services using the card. 

    Users have the option of choosing which cryptocurrency they earn their rewards in. 

    While the Coinbase Card supports contactless payment, Coinbase requires users first to make a Chip and PIN transaction with the card before contactless payment is activated on the card.

    Coinbase Vault

    Coinbase Vault for extra security

    Coinbase Vault is Coinbase’s cold storage solution designed for users who want long-term storage of their digital assets. 

    Coinbase Vault is a part of the Coinbase exchange account but there are some differences. The major difference is that even though the vault can receive cryptocurrencies like the regular individual Coinbase account, users are not allowed to initiate immediate withdrawals from the vault. 

    For security reasons, Coinbase Vault delays all withdrawals for 48 hours. Even the Coinbase team cannot bypass the waiting period.

    The vault is ideal for users who wish to hold large amounts of crypto for an extended duration. 

    While Coinbase Vault does not support DeFi yield, users can still earn staking rewards and APY on selected cryptocurrencies. 

    Coinbase Vault users can add other individuals as signatories to the vault. All withdrawals must be co-signed by the signatories to be approved by the Coinbase team. 

    If a withdrawal is not approved by the signatories after 24 hours, the withdrawal will be canceled.

    Cryptocurrencies Available on Coinbase

    Coinbase users can buy and sell over 160 cryptocurrencies.

    Available cryptocurrencies include Bitcoin, PancakeSwap, Ethereum, Cardano, USD Coin, Dogecoin, Polkadot, XRP, ApeCoin, Tezos, Bitcoin Cash, Avalanche, MetaGods, Cosmos, Polygon, Stellar Lumens, Algorand, Shiba Inu, Cosmos, Litecoin, etc.

    Can You Buy and Sell NFTs on Coinbase?

    NFTs Marketplace by Coinbase

    Coinbase allows you to buy and sell NFTs via its NFT marketplace. The NFT marketplace enables users to buy and sell various types of NFTs including Metaverse, art, collectibles, and domain names. 

    It supports over 100,000 NFT items. 

    Coinbase NFT also recently started offering minting services plus social NFT trading as it is considered one of the leading Web3 Social Marketplaces for NFTs. 

    The social trading feature allows creators to engage each other by liking, connecting, and connecting to other artists. Buyers can also follow another Coinbase account as part of the social trading feature. 

    Concerning payment, Coinbase NFT only supports Ethereum as a payment method. This means that you cannot use your debit or credit card to purchase NFTs on the platform. You’ll need to transfer your Ethereum assets to the platform and then use it to purchase NFTs.

    Coinbase Review: Fees

    Coinbase has a complex fee structure that will appear confusing to newbie crypto traders. It uses a taker and maker fee model based on pricing tiers, which are dependent on your trading volume. 

    Here’s how it works. If you have a high monthly trade volume you’ll have discounts on the platform’s taker or maker fee charges. However, this is with your last month’s trade volume, not your current one. 

    That said, here are Coinbase fees per trade volume: 

    Pricing Tier: $0 – $10K

    • Taker Fee: 0.60%
    • Maker Fee: 0.40%

    Pricing Tier: $10K – $50K

    • Taker Fee: 0.40%
    • Maker Fee: 0.25%

    Pricing Tier: $50K – $100K

    • Taker Fee: 0.25%
    • Maker Fee: 0.15%

    Pricing Tier: $100K – $1M

    • Taker Fee: 0.20%
    • Maker Fee: 0.10%

    Pricing Tier: $1M – $15M

    • Taker Fee: 0.18%
    • Maker Fee:0.08%

    Pricing Tier: $15M – $75M

    • Taker Fee: 0.16%
    • Maker Fee: 0.06%

    Pricing Tier: $75M – $250M

    • Taker Fee: 0.12%
    • Maker Fee: 0.03%

    Pricing Tier: $250M – $400M

    • Taker Fee: 0.08%
    • Maker Fee: 0.00%

    Pricing Tier: $400M+

    • Taker Fee: 0.05%
    • Maker Fee: 0.00%

    Stable Pairs

    • Taker Fee: 0.001%
    • Maker Fee: 0.00%

    Fiat Deposit and Withdrawal Fees


    • Deposit Fee: Free
    • Withdrawal Fee: Free

    Wire (USD)

    • Deposit Fee: $10
    • Withdrawal Fee: $25

    SEPA (EUR)

    • Deposit Fee: €0.15
    • Withdrawal Fee: €0.15

    Swift (GBP)

    • Deposit Fee: Free
    • Withdrawal Fee: £1

    Staking Coinbase Fees

    Coinbase does not charge fees for staking or unstaking supported digital assets. However, the trading platform takes a percentage of the crypto rewards received. 

    The fees charged depend on the digital assets staked. For SOL and ADA, Coinbase charges 35% and 25% for ETH, ALGO, ATOM, XTZ. 

    So you’ll only receive crypto rewards after Coinbase staking fees have been taken.

    Miner Transaction Fees

    Coinbase charges users dynamic network fees for crypto withdrawals. The fees depend on the crypto network used and the particular cryptocurrency.

    Coinbase Review: Payment Methods

    Coinbase supports 6 primary payment methods including bank account, debit card, PayPal, Google Pay, Apple Pay, and Sofort. 

    The bank account option varies depending on your location. Users in the United Kingdom, for instance, can deposit fiat currency using the Faster Payments Service while US crypto traders can deposit money using ACH transfers.

    Coinbase Security

    Like other cryptocurrency exchanges, Coinbase stores about 98% of customers’ crypto assets in cold storage wallets. And secures every Coinbase USD wallet with FDIC insurance.

    The remaining 2% stored in the hot wallets are encrypted with AES-256 encryption standard. 

    Coinbase has a Security Prompt feature which helps to improve customers’ account security. The security prompt is a faster, simpler, and safer proprietary two-factor authentication method. 

    Users are notified of all major security changes to their account settings. Account holders can also automatically lock their accounts and instantly stop any transaction or activity if they suspect any suspicious activity. 

    The exchange also monitors darknet markets and third-party data breaches for threat indicators. It also automatically secures users’ login credentials if their accounts are exposed to security risks. 

    Users’ accounts are also protected with security features such as two-factor authentication, password protection, and multi-approval withdrawals from the Coinbase Vault.

    Coinbase Review: Staking Rewards

    up to 6% APY on Coinbase Earn

    You can up to 5.75% APY in crypto rewards on more than 9 digital assets including Tezos, DAI, Cosmos, Solana, Tether, Cardano, USD Coin, and Cardano. 

    Certain cryptocurrencies (DAI and Tether) are DeFi yield while some are staking. Also, when compared to other trading platforms Coinbase charges higher fees for staking (up to 35%).

    Coinbase Supported Countries

    Coinbase operates in over 100 countries in Europe, North and Central America, South America, Europe, Asia, Africa, and the Middle East. 

    Supported Countries include the United States, United Arab Emirates, Argentina, Panama, Brazil, India, Malta, Bolivia, Netherlands, Luxembourg, Australia, Hong Kong, Kazakhstan, Montenegro, Mexico, etc.

    Opening a Coinbase Account

    Coinbase open account page

    To create a Coinbase account go to https://www.coinbase.com using your desktop browser. Alternatively, you can download the Coinbase mobile app on your Android or iOS device. 

    Once that’s done, click Get Started or Sign Up located at the upper right corner of the screen. 

    Next, you’ll need to input your full legal name, password, email address, and country. Then read the user agreement and Privacy Policy. If you agree with the terms, check the box and click Create Account or tap Sign Up on your phone. 

    You’ll receive a verification email to your registered email. Click Verify Email Address within the email. This should redirect you to the Coinbase website. 

    Next, sign in with your email and password

    Verify your phone number next by selecting your country and inputting your mobile number. Coinbase will send you a numbered choice you’ll need to enter on the platform. 

    Next enter your data which will include your first name, date of birth, and last name, and upload a government-issued ID.

    Trading Experience on Coinbase

    Coinbase offers a trading experience suited primarily to beginner crypto traders. 

    Buying and selling cryptocurrencies is seamless and mostly instant. It also has an advanced trading platform called Advanced Trade, previously known as Coinbase Pro, that features multiple order types and advanced charts.

    Coinbase Customer Service

    Coinbase help centre

    The Coinbase customer support team offers customer support via phone, support tickets, and online chat.

    The exchange also has a help center that has lots of educational resources and answers to many Coinbase FAQs. 

    Users can also gain all the knowledge they need on certain crypto assets via the Coinbase Learn platform.

    Customer Satisfaction

    The Coinbase app has a 4.3-star and 4.7-star rating on the Google Play Store and Apple App Store respectively. 

    Customers have also attested to the ease of use of the web trading platform.

    There are, however, lots of negative reviews about the customer service of the exchange. Most customers have complained of the difficulty to get real human support from the customer support team.

    Does Coinbase Offer Education?

    Yes, Coinbase offers education via its Learn platform

    Users can study several cryptocurrencies and then take a test afterward. If they pass the test they’ll earn rewards on the crypto studied. That said, most of the resources offered are best for newbie crypto traders, not advanced investors.

    Is Coinbase Right For You?

    Coinbase is right for both beginner crypto traders and advanced users

    However, advanced traders may not find the platform the best option when compared to other crypto exchanges like Binance.

    Final Thoughts

    Coinbase is an easy-to-use crypto exchange that caters to both beginner and advanced users. However, it charges high fees and offers a low number of cryptocurrencies when compared to other top exchanges.


    Most frequent questions and answers

    Yes, Coinbase makes it easy to buy crypto as it supports instant buys and PayPal.

    Coinbase is considered one of the safest trading platforms. However, the exchange supports only 160+ assets

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