Coinbase review - 2021 | Fees, feature, safety & more | Finder

Coinbase cryptocurrency exchange | April 2021 review

Last updated:  

Buy and sell cryptocurrency at one of the world's biggest beginner-friendly crypto exchanges.

  • Great for first-time crypto buyers
  • Not so great for its fees

23

Fiat currencies

40

Cryptocurrencies

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Details

Product Name Coinbase Digital Currency Exchange
Fiat Currencies USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more
Cryptocurrencies ATOM, BAT, BTC, BCH, XRP, DAI, DASH, EOS, ETH, ETC & 25+ more
Deposit Methods Debit card
Trading Fee Fees vary
Deposit Fees Credit/debit card: 3.99%
Bank Transfers (SEPA): None
Faster payments: None
U.S. Wire Transfer: $10
Fees vary by location and payment method.
Withdrawal Fees Bank Transfers (SEPA): €0.15
U.S Wire Transfer: $25
Fees vary by location and payment method.

Pros

  • Easy
  • Tried and tested
  • Wide service range
  • Customer service

Cons

  • Expensive
  • Limited coin selection
  • Availability varies
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more
  • Supported cryptocurrencies: Approximately 40 cryptocurrencies
*Availability varies by location

Which payment methods are accepted?

  • Debit card
Go to Coinbase's website

What's it like to use Coinbase?

Fees and limits

Platform trading fees

You will be charged the higher of either the flat fee or the variable fee for buying and selling.

All fees listed here are in US dollars unless otherwise specified and accurate as of 17 December 2020.

Flat fees

Transaction valueFee
$10 or less$0.99
$10 to $25$1.49
$25 to $50$1.99
$50 to $200$2.99

Variable fees

The variable fees depend on your location, payment method and whether you're placing a "standard" order or an "instant buy/sell".


Deposit and withdrawal fees

All deposit and withdrawal fees are included in the platform trading fees.

Transaction fees

Transfer typeFee
Transfers between Coinbase walletsFree
Transfers to an outside crypto walletNetwork fees

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Near-instant to 5 days

  • Bank transfer
    May take up to 5 business days to arrive
  • Card and Coinbase wallet purchases
    Purchases will complete instantly
  • Deposits from wallets
    Within minutes

Withdrawals and transfers

Clock icon for transfer speed

Near-instant to 1-2 days

  • Wallet transfers between Coinbase wallets
    Typically complete immediately
  • Withdrawals and sell orders
    Usually take 1-2 business days to arrive in your bank account
  • Sending outside Coinbase wallets
    Typically a few minutes, depending on the state of the network, the cryptocurrency and the network fees

Is Coinbase safe to use?

  • Regulation. Coinbase holds a wide range of licenses in different US states, including the New York BitLicense, and money transmitter licenses in different states.
  • Verification process. Coinbase requires users to get verified to trade.
  • Security features. Coinbase recommends 2FA to protect accounts and follows (and leads) industry best practices such as keeping the majority of customer funds in cold storage.

Coinbase was founded in 2012 and has never been hacked.

How do I create an account at Coinbase?

Go to Coinbase's website

What else do I need to know about Coinbase?

Coinbase is one of the world's best-known cryptocurrency exchanges. It was founded in 2012 and as of November 2017 claimed to have 13.3 million users.

It initially began as a way of simply buying, selling and transferring cryptocurrency, but has expanded to offer a wide range of services beyond that.

In a nutshell

Pros

  • Easy. Coinbase is renowned for making the entire buying process simple.
  • Tried and tested. Coinbase has been one of the world's best-known exchanges for years and has never been hacked.
  • Fiat currencies.Coinbase has one of the largest ranges of fiat currency support of any exchange.
  • Wide service range. Try Coinbase Earn to get some free crypto, and Coinbase Learn to get some free education and more.
  • Customer service. Coinbase is one of few crypto exchanges to offer 24/7 phone support.

Cons

  • Expensive. The fees vary but will typically be higher than what you can find elsewhere.
  • Limited coin selection. Coinbase has a limited range of cryptocurrencies.
  • Availability varies. The platform itself, its crypto offerings and its service availability varies by location
Go to Coinbase's website

Compare Coinbase against other exchanges

Table: shows partner brands and other brands, sorted by popularity
Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

288
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

257
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

261
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
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Compare up to 4 providers

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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18 Comments

    Default Gravatar
    Dbg
    June 8, 2018

    Hey i am fr Australia and I want to know that GDAX which is now coinbase PRO, can i trade bitcoin in gdax or coinbase pro being Australian citizen? And also one more thing, if i buy or sell bitcoin through my Australia bank account is there any TAX i have to pay for trading cryptocurrency?

      Default Gravatar
      Arnold
      June 8, 2018

      Hi Dbg,

      Thanks for your inquiry.

      Yes, you are able to trade with GDAX in Australia. GDAX currently operates in Australia, the United States, Europe (including the UK), Canada, and Singapore. However, GDAX currently only offers limited crypto-to-crypto pairs in Australia: ETH/BTC and LTC/BTC

      All traders using GDAX have the responsibility to self-report and pay taxes on
      all taxable gains. It would be best to consult with your accountant or tax advisor to ensure that you file
      and pay taxes correctly.

      Learn more about GDAX, how it works and its corresponding fees.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    Igor
    December 26, 2017

    Can I purchase other cryptocurrency or just what is listed in your app?

      Avatarfinder Customer Care
      Joanne
      December 28, 2017

      Hi Igor,

      Thank you for visiting finder, we are an Australian financial comparison website and general information service.

      The digital Currencies or other tokens that are not listed on their page are not supported by Coinbase. Coinbase is unable to process any transaction made using an unsupported Digital Currency.

      Hope this helps,
      Joanne

    Default Gravatar
    cathy
    December 23, 2017

    How do I cash in LTC from coinbase if I live in Australia?

      Default Gravatar
      Arnold
      December 28, 2017

      Hi Lisa,

      Thanks for your inquiry.

      I’m afraid the option to sell your coins directly with Coinbase is not yet available. You can learn more about how to sell your bitcoins in Australia and to know which cryptocurrency exchange supports this. Some of the exchanges on the page will allow you to deposits in AUD. Once someone decides to buy your coins the transfers can be made automatically.
      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    Lisa
    December 17, 2017

    Hi – I am in Australia using an Australian Bank account. I want to understand – if I cannot cash out in Australian Dollars what does that mean in terms of getting the money out? Can I cash out in USD and then still send it to my Australian Bank Account? Thanks.

      Default Gravatar
      Arnold
      December 22, 2017

      Hi Lisa,

      Thanks for your inquiry.

      The option to sell your coins directly with Coinbase is not yet available. You can learn more on how to sell your bitcoins in Australia and to know which cryptocurrency exchange supports this. Some of the exchanges on the page will allow you to deposits in AUD. Once someone decides to buy your coins the transfers can be made automatically.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    Shai
    December 15, 2017

    Hi,

    Can I transfer bitcoin to another person’s wallet in another country? If yes, how quick is the transfer service and what is the fees involved?

    Thanks in advance.

      Avatarfinder Customer Care
      Harold
      December 15, 2017

      Hi Shai,

      Thank you for your inquiry.

      As per checking yes, it’s possible to transfer bitcoin to another person’s wallet in another country. Transferring bitcoin works exactly the same no matter which country you’re sending it to. The transfer and fees involved depending on how busy the bitcoin network is at the time of transfer.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    Justin
    December 13, 2017

    Hi,

    What is the best way to sell Bitcoin and ETH while waiting for the ‘selling’ option to be available in Australia? Thanks

      Avatarfinder Customer Care
      May
      December 19, 2017

      Hi Justin,

      Thank you for your inquiry.

      There are exchanges that you can check from our guide on how to sell bitcoin that let you sell Bitcoin at different ways and prices. While, you would find great information about Ethereum/ETH and the exchanges that support this type of crypto.

      Hope this helps.

      Cheers,
      May

    Default Gravatar
    Barry
    December 9, 2017

    If I use coinbase as my exchange can I buy other cons other than the 5 listed such as Ripple, iota, dash etc
    Thank you

      Avatarfinder Customer Care
      Dee
      December 25, 2017

      Hi Barry,

      Thanks for your question.

      With Coinbase, you can only buy its supported currencies which include Bitcoin, Litecoin, Ethereum and Bitcoin Cash.

      I hope this helps.

      Cheers,
      Anndy

    Default Gravatar
    1redback
    November 29, 2017

    Hi when will coinbase have the sell bitcoin option in Australia?

      Avatarfinder Customer Care
      May
      November 30, 2017

      Hi 1redback,

      Thanks for your question.

      At the moment, we don’t have information as to when the Coinbase sell feature be available anytime soon in Australia. If ever we have, we will immediately post and update our page. Just continue to check back for any updates.

      Cheers,
      May

    Default Gravatar
    John
    November 10, 2017

    When will the sell option be available in Coinbase in Australia

      Avatarfinder Customer Care
      Rench
      November 10, 2017

      Hi John,

      Thanks for your inquiry. Please note that we are not affiliated with Coinbase or any company we feature on our site and so we can only offer you general advice.

      Unfortunately, the sell feature is not available in Australia. You may contact Coinbase directly by visiting their official site and inquire further.

      Kind regards,
      Rench

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