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What is Coinbase exchange platform?

Coinbase is a Peer to Admin Cryptocurrency exchange platform for trading to buy and sell Bitcoins and other altcoins like Ripple coin, Ether, Lite coin etc. Coinbase exchange allows users to trade their cryptocurrency at a price that is based on their market value, which allows users to purchase their cryptocurrencies faster than other exchanges. Coinbase platform is also one of the few cryptocurrency exchanges that accepts credit cards. Currently, Coinbase exchange allows users only to buy Bitcoin, Ethereum and Litecoin, though they have plans to add more currencies to the platform.

How Coinbase works?

  • Coinbase platform requires users to link a bank account, or credit/debit card to their Coinbase account to buy cryptocurrencies. Using a bank account, it allows for higher limits say, $100/transaction or $2,500/week, but it also takes longer to verify transactions done by the users. The thing is, the user will not see money in his Coinbase wallet for two to four business days (depending on the bank). When selling Bitcoin, once the sale is confirmed, it takes two to four days fto proceed that sale to show up in their bank account. With a credit or debit card, limits are less (like, $200/week). But he can purchase digital currencies by simply transferring funds from that bank account to the exchange site. For these transactions, Bitcoin shows up in the Coinbase wallet instantaneously. Users have an option sell Bitcoin to the PayPal account, effectively cashing out, as their Bitcoin will be exchanged for local currency. This transaction is instantaneous.
  • By following steps, users will be able to buy cryptocurrency via Coinbase: To sign up, Email address and password is required from the user end. Confirmation to activate the account from the user will be send to his respected email address and will be redirected to the landing page. After that, phone number verification will be done.
  • As Coinbase allows both bank transfer and credit card for payment methods. For bank transfers, this exchange platform will set up one or two small transactions to and from the user account for verification. Whereas for credit cards, screenshot of the card is necessary.
  • Once the user has the sufficient funds in his account, he can buy the cryptocurrency. Before confirming the transaction, Coinbase exchange platform will provide the users about service fee and the amount being purchased in the transaction. Once confirmed, the amount of cryptocurrency is purchased, it will be credited to the wallet.
How Coinbase works?

Why users prefer Coinbase platform?

Coinbase is transparent about its methods. Main reasons why users prefer to choose Coinbase exchange platform are:

  • A wide variety of fiat deposit and withdrawal options (incl. credit cards).
  • Insured Bitcoin deposit.
  • Online and mobile wallet services.
  • 2FA and multi-signature security option to prevent unauthorized manipulation of funds
  • Instant transfers between Coinbase users.
  • A friendly and intuitive user interface.
Low Fees

The fees are charged as a percentage of the purchases made in the platform. Deposits are free of charge. The payment methods used may attract other charges of the merchant banks and may very much depend on the country of one’s residence. Other digital exchanges either charge unreasonably high or their fees are levied on a graduating scale. Users purchasing cryptocurrencies in small quantities pay less compared to those purchasing in large volumes.

Convenient

If users want to transfer funds, they can simply scan the QR code of the recipient address using the mobile phone.

Free

Mobile wallets can be downloaded easily for free on the Android PlayStore and the iOS AppStore

Why users prefer Coinbase platform?
How can you launch ?

How can you launch ?

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Disclaimer: We use the term "Coinbase" for readers to quick understanding purpose only.Our services are not meant to influence any entity.

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