• Coinbase is a popular and secure crypto exchange founded in 2012 by Brian Armstrong.
• The exchange offers features like a beginner-friendly interface and advanced trading terminals for experienced traders.
• Coinbase is legally compliant and takes customer security seriously, with all USD cash balances insured up to $250,000.
What Is Coinbase?
Coinbase is a crypto exchange where traders and investors buy and sell digital currencies like Bitcoin and Ether. While best known for its brilliantly simplistic interface, Coinbase offers an advanced trading terminal. This lets experienced traders dabble in high-risk, high-liquidity derivatives and futures markets. Beyond its accessibility, Coinbase is careful to ensure that it’s legally complaint and that customer security is a priority – all USD cash balances are insured up to $250,000, covered by FDIC. According to Coingecko, Coinbase is the cryptocurrency exchange with the 2nd highest trading volume and average monthly visitors; the platform supports over 150 digital currencies, including top altcoins like Solana, Dogecoin, and Litecoin.
Coinbase was originally founded in 2012 by Brian Armstrong after reading Satoshi Nakamoto’s Bitcoin whitepaper. Armstrong had previous work experience at AirBnb, IBM, and Deloitte before writing his tools and software for buying crypto on weekends; these programs proved successful which lead him to enrolling in a Y Combinator startup incubator with a $150k grant. After searching for a co-founder he managed to get Fred Ehrsam onboard who helped expand the business plan even further until they started offering services such as buying cryptocurrency via debit cards or bank transfers in 2014 alongside the launch of their mobile app in 2015.
Is Coinbase Reliable?
For all appearances it looks like Coinbase is doing everything right: executive officer Brian Armstrong stays more or less in line with regulators while their stock being publically traded on Wall Street makes them look legitimate too. Is this San Francisco-based unicorn really a reliable place to store crypto assets though or could it lead us into another FTX disaster? As long as customers take proper precautions when investing online (such as using two factor authentication) then there’s no reason why Coinbase can’t be trusted – especially since customers are covered by FDIC insurance up to $250k!
Comparing To Other Exchanges
So what sets apart people’s favorite cryptocurrency exchange from competitors such as Binance? Well beyond its incredibly user friendly interface there’s also features such as faster transaction times than other exchanges due to lower fees compared to competitors plus additional services such as staking rewards or credit card payments through their Visa debit cards! Furthermore due to being better regulated than some other exchanges users don’t have risk of running into any scams here either making it perfect for those just starting out with cryptocurrencies too!
To conclude then it’s clear that despite some minor issues such as higher withdrawal fees than competitors plus limited payment methods (only Visa debit cards) people still generally trust Coinbase because of how easy it makes getting started with cryptocurrencies plus its commitment towards security & compliance making sure no one gets scammed while trading here! Ultimately though if you’re looking for an accessible yet reliable way of buying/selling digital assets then this might just be the right choice for you!