Wondering if Coinbase is the right platform to diversify your crypto portfolio?
You're not alone.
Coinbase is a major player among top cryptocurrency exchanges like Binance, Kraken, and Gemini. But does popularity mean it’s the right fit for you?
You don't have to sift through countless product reviews to find out. We’ve done the work by analyzing over a hundred Coinbase reviews from G2 users to help you decide if it’s a legitimate place to buy bitcoins and other cryptocurrencies.
Investing in cryptocurrency can be intimidating, especially when you're focused on optimizing your portfolio. Our Coinbase review and assessment breaks down the good, the bad, and everything in between.
of G2 users have rated Coinbase 5 stars for the cryptocurrency exchanges category.
Source: Coinbase reviews on G2
Coinbase ranks #5 in the cryptocurrency exchange category based on G2’s Spring 2024 grid report. Buyers are encouraged to consider individual needs when making a purchase decision.
Coinbase offers a variety of products, but for individuals wanting to trade crypto, three main options stand out: Coinbase exchange, Coinbase Wallet, and advanced trade.
This is the primary function offered by Coinbase. It is a clean and user-friendly interface perfect for newbies. It can be accessed through a website or mobile app, making trading seamless. Users can link their bank accounts for quick and easy deposits and withdrawals.
The intuitive dashboard tab provides a clear view of all your crypto holdings, making it easy to monitor investments. Coinbase prioritizes security by sending alerts when your values experience significant changes.
“In my opinion, Coinbase is the most popular and widely used platform for crypto exchange. You can trade with cryptocurrencies by selling, buying, and storing them in the Coinbase Wallet. It gives a straightforward account setup and uses instructions within the application to make the experience easy and comfortable. The best thing is its security, which enables us to deal in large amounts and keep them securely in our wallets longer.”
- Coinbase Review, Akash Y.
Apart from the crypto wallet built into the Coinbase exchange, the vendor offers a non-custodial alternative. This alternative puts you in charge of safeguarding your blockchain keys and gives you complete control over your digital assets.
Coinbase Wallet is not a hardware wallet, but it’s great for users in regions where Coinbase.com isn't available. It allows them to access some Coinbase services nonetheless.
“Coinbase Wallet allows you to store your cryptocurrency and trade it with ease. The straightforward interface is easy to navigate and provides a good user experience. Coinbase Wallet works in mobile applications and has multi-layer security features to protect your cryptocurrency. Multi-level authentication is a great feature that makes Coinbase Wallet the most secure application.”
- Coinbase Wallet Review, Rohan R.
For experienced traders, Coinbase steps up the game with more advanced features and enhanced security. Advanced Trade offers a significant leap from its predecessor, Coinbase Pro. You'll have access to real-time order books, a wider range of market pairs, and integration with TradingView for in-depth analysis. Additionally, you can enjoy enhanced staking rewards to maximize your crypto potential.
Ultimately, Coinbase provides a spectrum of user experiences for trading. Whether you're a beginner taking your first steps or a seasoned trader seeking advanced features, Coinbase has an option to suit your needs.
“Coinbase is expensive. I prefer the Coinbase advanced trade (formerly Coinbase Pro) because it has lower fees. They were slow to adopt support for a few of the coins I preferred, but they eventually added them.”
- Coinbase Review, Andrew R.
When assessing your personal needs, it’s vital to weigh Coinbase's pros and cons against your preferences for trading cryptocurrencies.
G2 user reviews indicate that Coinbase excels in user experience, security, and the variety of supported cryptocurrencies, putting it on par with or above the industry average for these critical features. This suggests that Coinbase provides a user-friendly interface, robust security measures, and a wide selection of cryptocurrencies for trading.
Coinbase is a good platform for beginners and advanced users alike. It offers benefits like:
“Coinbase offers a simple and easy-to-use platform. One thing that I appreciate is their to-the-point KYC verification. This was one of the first cryptocurrency trading applications worldwide. One can transfer many digital currency coins from their Coinbase exchange to different wallet applications. Recently, Coinbase has started giving revenue for our idle-based coins from 1% annually to up to 12%. This is unique and is only seen in storage wallets and not on crypto exchange trading platforms.”
- Coinbase Review, Parth C.
G2 user reviews reveal that Coinbase can improve in areas such as transaction fees and customer support responsiveness, which are vital for retaining users and ensuring a smooth trading experience.
It’s necessary to understand the following limitations before starting advanced trading.
For some users, the ease of use and security benefits may outweigh the higher fees. In contrast, others might seek alternative platforms because they need more privacy and control over private keys.
“Coinbase has limited crypto exchanges compared to US-Binance. But I also got my email and ID hacked and lost all my funds. I cannot log in and resolve the issues via any of the options offered in Coinbase help. Plus, Coinbase does not offer live human help. They do not provide a way to email in case of hacking. There is no way to call them. I even tried the BBB to message them for help. This is a serious breach of contract! Don't risk your money with an institution that won't help you if your identity and crypto get stolen.”
- Coinbase Review, Peter E.
Coinbase supports several types of cryptocurrencies, like:
Coinbase doesn't have a single, flat fee for trading cryptocurrency. Instead, it uses a maker-taker fee model, which means the trading fee you pay depends on how your order interacts with the market.
G2 ratings show that high-volume traders may not prefer the maker-taker model due to the higher taker fees. Many G2 users recommend Coinbase advanced trading as a better alternative platform with a simpler fee structure.
If you place an order that adds liquidity to the market, you're considered a maker. These users add new buy or sell orders to the market, which is kind of like stocking shelves in a store. They pay a smaller trading fee, ranging from 0.00% to 0.40% of the trade value, because they help make trading smoother.
If you place an order that removes liquidity from the market, you're a taker. These users buy or sell crypto from existing orders, like grabbing something off the store shelf. They pay a slightly higher fee, ranging from 0.05% to 0.60% of the trade value, as they remove what's already there.
| Pricing tier | Taker fee | Maker fee |
| Up to $10,000 | 0.60% | 0.40% |
| $10,000 - $50,000 | 0.40% | 0.25% |
| $50,000 - $100,000 | 0.25% | 0.15% |
| $100,000 - $1m | 0.20% | 0.10% |
| $1m - $15m | 0.18% | 0.08% |
| $15m - $75m | 0.16% | 0.06% |
| $75m - $250m | 0.12% | 0.03% |
| $250m - $400m | 0.08% | 0.00% |
| $400m+ | 0.05% | 0.00% |
The fee structure involves paying a small commission to Coinbase whenever you buy or sell crypto. It's like the store takes a cut to help you trade. Your fee is calculated based on your current pricing tier when placing the order. The more you trade in 30 days, the lower your fees.
“One of the things I like best about Coinbase is that it's easy to send crypto from one account to another using email, and there is no fee for sending funds like this.”
- Coinbase Review, Bhabishya B.
Deposit and withdrawal fees vary depending on the payment method you choose. For instance, bank transfers might have a flat fee, while using a debit card might incur a percentage fee. Always check Coinbase's fee schedule for current rates.
There’s no staking fee on Coinbase. However, the platform takes a commission (25% to 35%) on your rewards.
“Transaction fees are extremely high in comparison to other cryptocurrency exchanges. That kills the ability of Coinbase to be a real one-stop crypto exchange platform.”
- Coinbase Review, Christopher K.
Before you start trading on Coinbase, it’s important to note that it does not accept credit cards or cheques for buying crypto. However, it accepts a good variety of payment methods, as shown in the table below:
| Payment mode | Pros | Cons | Availability |
| Debit card (Visa/Mastercard) | Instant purchases | May require 3D Secure verification | US, Canada, Europe, Singapore, Australia, New Zealand |
| Bank account transfer | Lower fees for larger deposits | Slower processing time, waiting period for funds to settle | US, Europe, Singapore, UK |
| Wire transfer | Suitable for large deposits | Highest fees among listed methods | Limited availability: Fees and processing times may vary |
| PayPal (cash out only) | Fast cash withdrawal | Not available for buying crypto | US, Canada, the UK, and some European countries |
| Apple Pay/Google Pay (mobile only) | Instant purchases using a linked debit card | Limited regions. Depends on device compatibility | Supports limited devices in the US and Canada |
Whether you're a beginner unfamiliar with complex investment terms or a seasoned trader needing a secure and user-friendly platform, Coinbase provides a comprehensive suite of features designed to address all needs.
G2 ratings reveal that Coinbase has an easy-to-use interface with strong security and offers a variety of cryptocurrencies and advanced trading tools. However, some users aren't happy with the occasional problems with the mobile app and also feel that the educational resources could be better.
Coinbase offers an in-built user-controlled cryptocurrency wallet. Users can download the Coinbase Wallet app to manage their private keys and store crypto assets directly on their devices instead of a centralized brokerage or exchange. The wallet supports many cryptocurrencies and tokens and provides a platform to interact with decentralized applications (dApps).
“The user interface is friendly and can be best for a beginner to store their crypto securely. The performance is excellent and the wallet is well connected for easy swap to fiats.”
- Coinbase Review, Sourav D.
Coinbase lets individuals build their cryptocurrency portfolio over time with automated regular purchases. Users can set the amount they want to buy and in what frequency, and Coinbase does the rest. This strategy can help reduce the impact of volatility on large purchases.
Users can learn about cryptocurrencies and trading by watching educational videos and completing online quizzes. Coinbase rewards the participation with a small share of the cryptocurrency related to the quiz, helping diversify and build their portfolio while also increasing their knowledge base.
“The reward system seems to be non-existent for people in certain geographical locations like Zambia, South Africa. We are aware that Coinbase rewards users for learning about cryptocurrencies. It would be great if this is extended to other locations.”
- Coinbase Review, Kabilwa S.
Coinbase vaults are designed to enhance the security of large cryptocurrency holdings. They require multiple forms of authentication and have a set withdrawal delay period (48 hours), which allows for the cancellation of unauthorized withdrawals.
“Its GUI is well designed, which makes the user love it. The features they provide are amazing for beginners when analyzing the cryptocurrency market. One of the main points is that this platform supports many NFTs, community-based tokens, and digital coins. So, the user can trade with his choice of asset.”
- Coinbase Review, Neha U.
Is Coinbase the right fit for you? It’s not a yes or no answer. Instead, it’s about analyzing whether the benefits of Coinbase outweigh the limitations for you.
Beginners will appreciate the easy interface, educational resources, and the ability to earn passive income through staking. However, higher trading fees and limited features may leave experienced users wanting more.
Based on G2 user ratings, Coinbase shows potential in the cryptocurrency exchange category, particularly with its user experience and security features. Enhancing its fee structure and customer support could further solidify Coinbase’s position and accelerate its growth in the competitive crypto trading market.
Ultimately, investors are encouraged to do their research, understand the risks involved, and choose the platform that best aligns with their investment goals.
Use the G2 comparison tool to see how Coinbase matches up to its competitors.
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