Coinbase is one of the largest cryptocurrency companies, supporting 42 countries and have more than 20 million customers worldwide. It has a wide variety of services, but their core service is to allow users to buy and sell bitcoins.
The main service on this site is a brokerage service which is used for buying and selling cryptocurrencies. New digital currency users will often find their first bitcoin purchase through this company.
Coinbase saves your coins for you, which is equivalent to putting your money in the bank. This platform launched its independent mobile wallet in 2018 for Android and iOS. This wallet stores private keys on the device of user and only they have access to funds.
Once you set up your coinbase account, you can buy a small number of bitcoins until you increase your limit.
Coinbase offers its services in more than 100 countries and supports a list of coins to name a few:
- Bitcoin (BTC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
In addition to that, it accepts the following payment methods:
- Wire Transfer
- Credit Cards
- Debit Cards
The fee structure of the coinbase is based on the location and payment methods. The transaction fees of standard purchases are 1.49% and 3.99% for credit card purchases. Depositing money via ACH transfer is free else it costs $10.
So, if you want to trade in digital currencies, you need a coinbase platform to trade, which acts an intermediary to communicate with the network.