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[BMF]

Coinbase
Coinbase is one of the world's biggest digital currency wallet/exchange that support storing, transacting and trading of cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. It one of the oldest begineer entry cryptocurrency exchange which support buying and selling of cryptocurrency directly with a connected Bank account or other payment methods.
Coinbase is a San Francisco based exchange and was founded in 2012 by Brian Armstrong and Fred Etrsam as part of Ycombinator. Coinbase started as Bitcoin Broker, selling Bitcoin directly to customers but over the years has added alot of services along the way making it one of the most reliable crypto exchange out there.
Coinbase currently has over 20 million users from all around the world with over $150 Billion worth of cryptocurrencies traded. Also Coinbase was able to raise $217 million from world leading investors like Ycombinator, Andreessen Horowitz, USV, USAA and more making it one of the most reputable crypto exchange with lots of external backing.

Coinbase support trading of BTC, ETH, LTC, BCH, ETC and more. Users can deposit using either Wire Transfer or Debit/Credit card.

It is important to note that Coinbase is a fully licensed and regulated KYC/AML complaint exchange, you are required to undergo identity verification before you can make use of it service.
Currently Coinbase support and fully operate in 32 different countries across Asia, Europe, North America and Australia.

Pros:
1. Begineer Friendly: This is one point where Coinbase really shines, it's is one of the most recommended beginner entry cryptocurrency wallet/exchange cause one does not need to know how to trade to buy and sell cryptocurrency on the platform using ones bank account. Coinbase is mostly regarded as one of the best exchange for beginners to trade Bitcoin and other cryptocurrencies, It interface is very clean, Intuitive and easy to navigate.
Coinbase also provides a mobile app available for both Android and iOS.
2. Reputation: Coinbase is one of the oldest reliable exchange out there with millions of users and it backed by reputable organizations. Coinbase is also one of the few cryptocurrency exchange that is protected by insurance.
3. Security: Coinbase takes careful security measures to ensure optimal security of users funds. According to it website, about 98% of customer funds are stored in offline storage and distributed in safe deposit boxes in different geographical location all around the world.
Two factor authentication (2FA) is also available for adding extra layer of security to user accounts.
4. Merchant API: Coinbase provides a well documented API allowing online merchant to accept cryptocurrency on their website.

Cons:
1. It Not Available Globally: Coinbase is only available in a very limited amount of countries which spread across few continent.

Based on my research, Coinbase is a legit exchange, the only major disadvantage is that it's not available in most countries. If your country is also not supported, i recommeded you to checkout Luno which is quite similar to Coinbase but support a larger number of countries.

Do you have an account here? What's your experience?

 

[Yugocean]

$COIN Problem Update

Users of Coinbase's native token $COIN are not able to withdraw this token, or buy by paying via US bank accounts.
Coinbase has begun efforts to resolve this issue, but no decision or announcement has been made directly yet. Information is coming only from users' social media complaints, and Coinbase's support system update..

 

[doctorfm]

Not good...

 

[oldbuddy]

I have had my account there for a few years with no problems. They are not only Legit, but they paid me for learning about earning there and a couple of referral commissions. I am a believer.

 

[Yugocean]

I have had my account there for a few years with no problems. They are not only Legit, but they paid me for learning about earning there and a couple of referral commissions. I am a believer.

You are welcome, there is a lot to learn from you here. At the moment I only have one NFT on Coinbase, and I don't know the value of that either. I think try to keep some PoS and get reward (however, I am only using coinbase using wallet now, not Coinbase Pro exchange).

 

[Yugocean]

Business Update

Coinbase 's attemp to get alongwith shopping companies is proving a good return. The $3 million investment by the Shopify CEO to purchase Coinbase shares has increased the value of Coinbase's native token COIN, which did not hurt the value of COIN much even when it turned red in a bear market. Both the companies have benefited from this. Coinbase is trying to become a crypto wallet for shopping real products.

 

[ShortyEarn.com]

Yeah, coinbase is good but I still prefer binance as the binance fees are significantly lower than coinbase. However, there are some PROS of coinbase though. Their API is very easy to implement especially if you want to accept crypto currencies payments on your website. You can easily integrate coinbase as a payment gateway. If you are a developer you can easily get their documentation of coinbase API.

 

[Yugocean]

Update
Coinbase has got a license to operate in Singapore, this could be its Asia Pacific hub. Coinbase is also supporting Tornado Cash to avoid losing in the crypto sector while building itself as a company. Perhaps coinbase thinks, it may also face a Tornado Cash-like situation at some level.

 

[Yugocean]

Situation Tense
Coinbase CEO Bren Armstrong has ruled out anything like FTX with him, citing it being a regulated company.

During his outbrust against FTX, youtuber bitboy Ben Armstrong was pushed people to withdraw their funds from Coinbase in addition to FTX. Then people did not pay much attention to it, but now the clients of coinbase are in strange position.

 

[Yugocean]

Coinbase Pro to Wallet is Gas Free
Now that the doubts about the exchange are increasing, all the exchanges are promoting their own wallets. To avoid people being drawn to other wallets, Coinbase has made it free for all to transfer funds from the Coinbase exchange to the Coinbase wallet or purchase crypto via the Coinbase wallet.

 

[Mr Vector]

Oh yes, I have an account in Coinbase but not using it. I decided to just use coins.ph in our country. But I will try to use Coinbase if ever, as a substitute to coins.ph. I also heard about Coinomi.

I don't know of coins ph because it is for the Philippines. But I have an account with coinbase. Apart from being the most secured online wallet, it also has a very low transfer fees.
Coinomi is also a good wallet and one thing I like about it is that it is an offline wallet.

 

[Yugocean]

I don't know of coins ph because it is for the Philippines. But I have an account with coinbase. Apart from being the most secured online wallet, it also has a very low transfer fees.
Coinomi is also a good wallet and one thing I like about it is that it is an offline wallet.

Coinomi isn't working for many, there are complaints. But what do you mean by offline wallet?
Cryptocurrency remains in blockchain, and Blockchain is available only online.
Coinbase wallet is now being promoted by Coinbase, if it is best for you, then use it.

Pleas discuss coinomi only on it's thread.

 

[Christabell]

Coinbase Pro to Wallet is Gas Free
Now that the doubts about the exchange are increasing, all the exchanges are promoting their own wallets. To avoid people being drawn to other wallets, Coinbase has made it free for all to transfer funds from the Coinbase exchange to the Coinbase wallet or purchase crypto via the Coinbase wallet.

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As much as I love Coinbase and it's security well I have this issue when it comes to Verification, the KYC thing. The passport part is where it is complicated as some of us have National ID Cards only and not a passport which has been a pain in the bu*t so I am unable to verify my identity.

Anyways,
Does that mean even those who haven't done the verification process can now exchange and do all that you have mentioned here?

 

[Yugocean]

Bren Armstrong Trying to impress Elon Musk?
Coinbase CEO Bren Armstrong compared every piece of information available on Twitter about FTX to better citizen journalism than a NYT article.
It is not clear whether he said this to cheer up his followers, or to impress Elon Musk, or both.

Does that mean even those who haven't done the verification process can now exchange and do all that you have mentioned here?

All exchanges allow withdrawal.

 

[Yugocean]

$LDO Support
Coinbase has planned to add support for inbound transfers of Lido DAO (LDO) on its wallet and exchange. $LDO is an ERC-20 token, and Coinbase has also warned not to send it to networks other than Ethereum. Coinbase has also announced that the LDO-USD trading pair will be available in stages once liquidity is available.

 

[Yugocean]

Brian Armstrong's Not in Mood
Brian Armstrong's silence has increased even since Coinbase has come into controversy due to its link to Genesis (Genesis is on the verge of ruin due to its link to FTX). since then, Armstrong if talks, he talks more non crypto matters.

 

[Yugocean]

Coinbase To Delist 4 cryptos' next week

Coinbase has announced to stop supporting four Altcoins BCH, ETC, XLM and XRP in its wallet. Coinbase has also given the reason (excuse) for this that their use in the wallet is less.

 

[Yugocean]

Coinbase disables NFT on Apple

The NFT feature has been disabled in the Coinbase Wallet iOS app, affecting Apple's in-app purchases. Apple is believed to have asked Coinbase to pay a 30% fee on gas used to transfer NFTs in-app, which Coinbase has not been able to meet

 

[Yugocean]

0 Fee USDT to USDC swap

The USD Coin (USDC) is being promoted by Coinbase among its users. A free facility to switch from USDT to USDC is being provided. Coinbase is describing USDC as "trusted", but only it knows what will happen to the collected USDT.

 

[Warfare]

Of course Coinbase will deem USDC as "trusted", it is their own stablecoin that they co-founded with Circle.

 

[Yugocean]

Coinbase is Quit
There has been no update from Coinbase since December 23rd. And its CEO, Brain Armstrong, is only retweeting, with the last post is retweet of a post by Vitalik Buterin on December 31.