Is Coinbase Legit? – Yes, It Is According to My Experience!
Bitcoin, Ethereum, Litecoin have created numerous new millionaires and probably even a few billionaires. There was another huge leap in Bitcoin price and popularity in the spring of 2017. Millions of new people started using bitcoins. Maybe you are thinking where you could get your first bitcoins.
In this article, I am going to show you one of the most famous and the biggest Bitcoin platform in the world. It’s ranked #1 Bitcoin exchange by many experts but still, some people have written negative reviews of their service. Is Coinbase legit? Give me 1-2 minutes and I’ll give you my honest answer.
Is Coinbase Legitimate? – Yes, It Is!
I just created a video on YouTube where I show how you can get $10 worth of bitcoin immediately on Coinbase. It will probably be the easiest $10 that you have ever earned 😉
I used the bonus myself when I started on Coinbase over 2 years ago. Afterwards, many of my friends have used it and they have been happy with Coinbase. You can, of course if you want, also just take that free $10 and use some other cryptocurrency exchange if you want but Coinbase is a great option also.
Founders: Brian Armstrong and Fred Ehrsam
Field: Bitcoin Exchange
Overall Rank: 90 out of 100
What Is Coinbase? – The Biggest Bitcoin Broker in the World
Coinbase is one of the biggest online platforms for buying, selling, transferring, and storing digital currency including bitcoins. According to their website mission is to “create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency.”
As you can see in a picture above, Coinbase is a huge company. They have served more than 5,3 million customers in 32 countries and more than 5 billion dollars is already exchanged. In addition, those numbers are rising day by day.
UPDATE: 1.8.2017: In a short period of time customers has risen from 5,3 million to 8,9 million. And from $5 billion to $20 billion.
Who knows how many customers there will be after a year or two years. 20 million or 50 million? Will you be one of them?
Coinbase Application Available for Your Smartphone
You can also download and use Coinbase with your smartphone. The app is very practical and easy-to-use. You can quickly check your balance and sell or buy bitcoins. A video below explains more in detail how to use a Coinbase application.
Is Coinbase Safe to Use? – Yes, It Is According to My Experience
This is probably one of the most important questions to ask. When we are talking about our money, we really hope that they are safe and that nobody will steal them. We work long hours and if our money would suddenly disappear because of a scam, it would be quite disappointing even if money is not the most important thing (or even close) in life.
BestBitcoinExchange.io has ranked the biggest and the best Bitcoin exchanges. There is a top 40 list. Guess which Bitcoin exchange is ranked first? Yes, Coinbase is ranked #1 with a ranking 9.85 out of 10. They are beginner-friendly and they have a trust score A+ (=the best).
Most complaints were about slow or a bit unfriendly customer service. I don’t have personal experience with their support because I have never needed it. They have a comprehensive support library where I have found an information for all of my questions. If you need to ask a question, you can submit a ticket and they will come up with an answer to you.
I have never had any problems with Coinbase. They gave me a free bonus when joining. Then I have made a few deposits successfully without any problem. I have withdrawn money without any problem. So in my experience, Coinbase is safe to use. Their convincing statistics (8,9 million customers in 32 countries) convince me even more. If it would be unreliable, why so many people would be using it? Why would it be ranked as the best Bitcoin exchange in the world?
How Much Does Coinbase Charge for Buying/Selling Bitcoins?
I must admit that exchange fees are a bit higher in Coinbase compared some other Bitcoin exchanges. That’s why it works better for long-term investing rather than for short-term trading. They give also a bonus of $10 when you make your first $100 deposit which naturally compensates a bit higher exchange fee.
The exchange fee depends on which country you are living. For example, in the US, and in Europe a fee for buying/selling bitcoins is 1,5%. But their bonus naturally compensates a high fee. I recommend that you buy bitcoins and hold them for a longer time.
Short-term trading is speculation anyway but long-term prospects of Bitcoin look very promising.
Conclusion – Is Coinbase Legit?
I and all of my friends who have used Coinbase have had a positive experience with them. One of my friends said that sometimes their server is down when you can’t do trading. However, nowadays I’m checking my Coinbase account quite rarely so it doesn’t bother me. I’m a long term investor and not a trader.
Coinbase platform is easy-to-use and I have earned good money by buying and selling bitcoins on Coinbase and on other platforms.
Coinbase Alternative – Make a Living Online
If you are interested in making money online, then I recommend you to go to Wealthy Affiliate. Their step-by-step training has helped me and thousands of other people to make a living online. You can get started for completely free with 20 interactive video lessons.
I know it sounds good already but they’ll also provide you 2 free websites and other tools that will help you to get started with making money online. I provide also my 1-on-1 support and help for all people who join Wealthy Affiliate through my website.
I am offering you this alternative because you will still most likely need an income even if you are investing in bitcoins. Wealthy Affiliate training helps you to build an online business which will bring in a monthly income that’s growing all the time. Some people achieve even $10,000/month income level and much more. It’s not a get-rich-scheme but everything is possible if you are willing to put in the work.
Coinbase at a Glance…
Founders: Brian Armstrong and Fred Ehrsam
Field: Bitcoin Exchange
Overall Rank: 85 out of 100
If you have any questions about Coinbase or about bitcoins in general, don’t hesitate to ask. I will be more than happy to help you out.
Have you used Coinbase or other bitcoins exchanges? What kind of experiences did you have?
Let me know in the comments below! 🙂
- The biggest bitcoin platforms in the world
- Works in +30 countries
- Very user-friendly and easy-to-use platform
- +8,9 millions customers served (and growing rapidly)
- Exchange fee is a bit higher than in some other providers