• Fri. Jun 21st, 2024

A Guide to Coinbase: Everything You Need to Know About the Leading Exchange in US

Louise Villalobos

ByLouise Villalobos

Dec 31, 2023

Following the emergence of cryptocurrencies, several exchanges have been launched to meet the needs of traders and investors. However, not many exchanges are trustworthy, and that is evidenced by the growing scam cases. Luckily, we have Coinbase, a highly regulated crypto exchange in the US. This article seeks to explore the platform to help you gauge whether it suits your trading or investing needs.

Coinbase Crypto Exchange Explored

Coinbase entered the market in 2012. The California-based exchange was created by crypto gurus Fred Ehrsam and Brian Armstrong, with the latter now serving as the firm’s CEO. Coinbase has grown tremendously over the last 11 years, from being a simple Bitcoin trading platform to hosting more than 100 million users as of December 2023.


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It is worth mentioning that Coinbase is the only crypto exchange that is publicly traded. The company’s shares are listed as COIN on stock trading platform NASDAQ. This gives Coinbase an extra credibility, which attracts traditional investors.

The Base Blockchain

In 2022, Coinbase launched an Ethereum scaling solution, Base, allowing users to explore decentralized applications. Since its launch, Base has facilitated the development of hundreds of dApps. Unlike many scaling solutions, Base does not have a native token, nor does Coinbase intend to introduce one.

Supported Cryptocurrencies on Coinbase

Coinbase gives traders and investors access to a wide range of cryptocurrencies. Almost all the popular digital currencies are listed here. You can trade over 245 tokens and 550 trading pairs on this exchange. But what is the trading fee? It ranges from 0.1% to 0.50%.

Coinbase Geographical Presence

Coinbase is available in over 100 countries. Besides the United States, the exchange has a presence in Europe, the United Kingdom, and Canada.

Exploring Coinbase Numbers

Coinbase is the second-biggest crypto exchange by trading volume, according to data from CoinGecko. Since October, the platform has been averaging $1.12 billion in daily trading volume. Coinbase has nearly $135 billion worth of user assets on the platform.

How to Register With Coinbase in 2024

Coinbase is popular among newbies due to its simple sign-up process. To get started with this exchange, follow these steps:

Step 1: Download the Coinbase app and click the “Sign up” button.

Step 2: Enter your email and then verify it.

Step 3: Submit personal details such as your name and country of residence.

Step 4: Complete the Know Your Customer process by taking a selfie and sharing a photo of your national identification document. Upon verifying your identity, you will have access to your Coinbase account.

Coinbase Features

Staking Services

If you like investing in crypto rather than trading, then you will find Coinbase’s staking service helpful. Through the exchange, you can stake digital assets like Ethereum, Aptos, Mina, NEAR, and Fantom to earn yield.

Debit Cards

As a Coinbase user, you can request a debit card, which you will fund with your cryptocurrencies to pay for shopping at any merchant that accepts Visa. And the best part is that you earn crypto rewards every time you use the card.

Choice of Crypto Wallets

Unlike most of its competitors, Coinbase allows customers to select the type of wallet they want to work with. They can either pick the exchange’s custodial wallet or a non-custodial wallet called Coinbase Wallet.

We recommend storing your cryptocurrencies in Coinbase Wallet so you can have total control over them. The tool lets you store all ERC-20 tokens and NFTs. It also gives you access to decentralized finance.

NFT Marketplace

Besides supporting crypto trading, Coinbase facilitates NFT trading through its marketplace. What’s more, you can mint your own NFTs on the platform.

Rewards

Do you want to learn about cryptocurrencies? You can do so on Coinbase while earning tokens through the exchange’s Learn to Earn program.

Coinbase Lending

You can use your crypto holding to secure a loan on Coinbase. The loan amount is usually credited to your PayPal or bank account.

Louise Villalobos

Louise Villalobos

Louise Villalobos is an adept writer, renowned for her compelling articles that illuminate and engage. Her prowess in breaking down intricate subjects provides readers with clarity and nuance. With a vast and varied portfolio, Louise has solidified her standing as a distinguished voice in contemporary journalism.