Coinbase!

WE’RE PRETTY MUCH THE SPIRIT AIRLINES OF CRYPTOCURRENCY EXCHANGES.

— Coinbase (New Slogan).

Coinbase, available to users in over 55 countries as of 2019, is the world’s largest Bitcoin broker. Customers can buy bitcoin with a connected bank account, debit card, SEPA transfer, Interac Online, and many more payment methods.

PROS

• High liquidity and buying limits
• Easy way for new users to buy bitcoin
• Instant buy available with credit card as backup

CONS

• Limited payment methods
• May track how its users spend bitcoin

Is Coinbase safe?

Coinbase is the world’s largest Bitcoin exchange, so this is a common question.

Yes, Coinbase is a Bitcoin company based in San Francisco, and backed by trusted investors.

Coinbase is the world’s largest Bitcoin broker, and also offers an exchange, wallet, and developer API.

On this page we’ll review Coinbase and its brokerage, exchange, and wallet.

Note: Cash held in Coinbase wallets are FDIC insured up to $250,000.

How Does Coinbase Work?

Coinbase’s simple interface aims to make it easy for first-time buyers to purchase bitcoins.

The most popular payment methods for Coinbase customers are buying with a credit card or debit card, and also using a bank transfer.

There’s a full guide at the bottom of this post that shows you how to buy on Coinbase using a credit card.

Does Coinbase Support Your Country?

Coinbase offers its brokerage services in the United States, United Kingdom, Canada, Singapore.

Coinbase also supports the following European countries:

Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gilbraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom.

In North America, Coinbase supports Canada, the USA and Mexico.

In South America, Coinbase only supports customers in Chile via debit card payment.

Is Your Privacy Kept While Using Coinbase?

Users must provide full identity verification and many personal details.

You will be required to take a picture of your driver’s license or passport if you are purchasing with a credit card.

Limits & Liquidity

Coinbase offers very high limits. Limits depend on your account level, which is determined by how much information you have verified. Fully verified U.S. customers may buy up to $50,000 worth of bitcoin daily.

European customers may have a maximum of €30,000 euro in their account at any time.

How Fast Does Coinbase Send You Bitcoins?

The time it takes for the bitcoins to arrive in your wallet and be spendable depends on your country and payment method used.

United States

Debit Card: If a credit or debit card is used, delivery of bitcoins is instant once ID verification as been completed.

Bank Transfer: U.S. customers will receive their bitcoins five business days from placing an order when using bank transfer. “Instant Buy” becomes possible if a credit card is added to the account as a backup payment method.

Instant buy will allow fully verified users to buy up to $1,000 worth of bitcoin per week. Level 2 users with instant buy are able to instantly buy up to $100 worth of bitcoin per week.

Canada

Canadian EFT purchases take four days to complete.

Interac Online purchases are instant!

Europe

European users paying with SEPA transfer will receive bitcoin within 1-3 days.

Customer Support

Coinbase has a knowledge base and email support.

Coinbase “Community” can be used to ask questions and get support help.

Past Issues

There have been reports that it tracks how its users spend bitcoin.