Wallet

Coinbase review: Bitcoin & Ethereum-wallet test

Safe and easy Bitcoin- & Ethereum-Wallet with integrated buying or selling of Bitcoin, Litecoin & Ethereum


18.207x Views | 0 Comments


Coinbase review: Bitcoin & Ethereum-wallet test (c): coinbase.com Screenshot

26.01.2018

Coinbase is one of the most popular and biggest web-wallets and exchange for Bitcoin, Ethereum and Litecoin. Coinbase offers an easy, fast and intuitive access to the three big crypto currencies. On one hand you can keep these currencies in the wallet on Coinbase, on the other hand you can directly exchange these currencies for Euro or US Dollar. In our review we comment our experiences with the web-wallet Coinbase.





What is Coinbase?

Coinbase review © "coinbase.com Screenshot"

Coinbase* is one of the most popular and biggest web-wallets for Bitcoin, Ethereum and Litecoin. Coinbase is a US company, which was founded by Brian Amstrong and Fred Ehrsam in 2012.

 

More than 10 million users!*

 

More than 10 million users worldwide (according to the Coinbase website in November 2017) have already registered an account in the crypto-wallet. Besides the basic functions of a Bitcoin-, Litecoin- or Ethereum-wallet, i.e. managing, sending and receiving of the corresponding currency, Coibase also offers other functions. Among them there are integrated Bitcoin-, Litecoin- or Ethereum-exchanges. Using Coinbase  you can directly buy the corresponding crypto-currencies for US Dollar, Euro or any other currency according to country.

*the number of users: according to the Coinbase website in November 2017

 


Is Coinbase safe?

Coinbase is the world largest Bitcoin-, Ethereum and Litecoin wallet and exchange platform. It was founded in San Francisco (USA) and has been operating since 2012. Coinbase is not only very popular in the USA, but in more than 30 countries around the world, like Canada, UK, Ireland, Germany, France, Italy and many more.

In our opinion: yes, it is safe! Coinbase is very innovative and updates the Coinbase-website frequently.

 

Coinbase provides lots of security features, like 2-Factor-Authentification. Of course, Coinbase is a hot wallet and thus not that secure like a cold wallet (Read more about the Ledger Nano S Bitcoin & Altcoin Hardware Wallet ).

 

Is Coinbase secure and legitimate?

In our opinion Coinbase is part of the most legitimate and safest web-wallets on the market. Coinbase has a nice reputation and is supervised by US institutions.   

Coinbase offers high security standards: internet traffic is secured by SSL and it uses the typical bank encryption AES-256 on its servers. Moreover access to the bank registration information by Coinbase staff is highly restricted: only verified workers have access to sensible information.

Credit card data are hosted by a third party payment provider in accordance with data security standards of the credit card industry (PCI DSS). Coinbase staff cannot access these data.

Additionally Coinbase regularly updates its website and adds further security functions. One important security aspect is the 2-factor-authentification, which should be activated directly after registration.

 

Our recommendations despite the high security standards and functions

Nevertheless Coinbase is a hot wallet, which can be directly accessed via the internet. Even if we expect Coinbase having high security standards and functions, we recommend using Coinbase as a “wallet” instead of an account or as a safe.

 

Be careful: Coinbase is a hot wallet

 

Your own Bicoins, Litecoins or Ethereum coins are definitely safer in an own hardware-wallet (e.g. Ledger or Trezor), so you have absolute control, particularly over your private keys of the wallet.

 

Bitcoin-, Litecoin or Ethereum-vault: the safe for your own coins

Coinbase Safe: Bitcoin, Ethereum, Litecoin Vault © "coinbase.com Screenshot"

 

With its Bitcoin-, Litecoin- or Ethereum-vault Coinbase offers its own “safe”, in which your crypto-currencies can be kept safely because of advanced security functions. It is a fact that therefore your own digital coins are kept more safely compared to a “normal” account, but we continuously recommend, especially for amounts exceeding 1.000 Euros, executing your investments in your own hardware-wallet and managing the digital money there. For smaller amounts beneath 1.000 Euros Coinbase is a nice compromise of an easy, intuitive but also secure web-wallet.

 

Coinbase fees and costs: is Coinbase for free?

Generally speaking fee structure of Coinbase is very transparent: using the web-wallet for Bitcoin, Ethereum and Litecoin is for free. This means, that keeping crypto-currencies in the wallet, as well as receiving Bitcoins, Litecoins or Ethereum coins is for free. Sending crypto currencies usually causes transaction fees. These transaction fees do are not transferred to Coinbase, but to the responsible crypto-network and are credited to the miners. The present transaction fees can be checked under https://support.coinbase.com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees:

 

Coinbase fees and costs at a glance:

  • using the web-wallet: for free
  • receiving Bitcoin, Ethereum and Litecoin: for free
  • sending Bitcoin, Etehreum and Litecoin: standard fees of the networks (Coinbase does not collect charges, but simply passes the transaction fees on to the miners)
  • purchasing Bitcoin, Ethereum or Litecoin per bank transfer: 1,49% of the purchasing amount
  • purchasing Bitcoin, Ethereum or Litecoin per credit card: 3.99% of the purchasing amount  for using credit card as a mode of payment
  • selling Bitcoin, Ethereum or Litecoin per credit card: 1,49% of the purchasing amount plus an extra charge of 0.15 cents for transferring the amount to your own bank account

 

Amount of transaction fees, respectively costs on Coinbase?

As any other Bitcoin-, Litecoin or Ethereum-wallet there are transaction fees for sending currencies (“miner fees”). Mining fees are charged by the respective crypto network, which means, that Coinbase has no direct control over these. This is the reason why these fees are not of the same amount every day, but they depend on the respective transaction and the network. Generally you can say: if there are many transactions taking place in the particular network, transaction fees are increasing.

 

Charge fees for purchasing Bitcoin, Ethereum or Litecoin?

Coinbase charges fees for purchasing Bitcoin, Ethereum or Litecoin choosing the Coinbase wallet. General fees are 1.49% of the purchasing amount. Additionally there are fees depending on the mode of payment: these incur according to country and method. In Germany you can use two different methods of buying crypto-currencies directly via Coinbase:

 

Transaction fees using credit card in Europe

There is added an extra charge of 3.99% to the standard purchasing fee of 1.49% for Bitcoin, Ethereum or Litecoin.

Transaction fees using bank transfer (SEPA) in Europe

Bank transfer on the Coinbase wallet is for free. Purchasing crypto currencies with your Euro or USD deposit is priced at 1.49%.

Charges fees for withdrawal in Europe

Using Coinbase you can also exchange Bitcoin, Ethereum or Litecoin for Euro, Pound or US Dollar. For this you need to exchange your crypto-currencies for a charge fee of 1.49% for national currencies (FIAT currency). These are then accounted to your Coinbase deposit in Euro, USD or British Pounds. For an extra charge fee of 15% this money is transferred to your own bank account.

 

Our review, test and experiences with Coinbase: registration on Coinbase and first steps

Registration and first steps on Coinbase are easy to manage

Coinbase review registration © "coinbase.com Screenshot"

Enter your email address, name and a secure password and your account is registered on Coinbase.

 

Keep in mind: use an appropriate password!

 

 

We highly recommend choosing a very secure password. This password should not be used for any other account, e.g. email account. Additionally this password should be an 8 digit-combination of letters, numbers and special characters. The longer, the better: we also recommend using more than 32 characters for the password. To safely backup passwords, we would like to mention password managing programs (password manager) like Password Safe 7, RoboForm or KeePass 2. These password managers can automatically generate and save them. You can access the different passwords with a master key.

Coinbase review email © "coinbase.com Screenshot"

The access is completed after clicking on the confirmation link in your registration email.

When you logged in for the first time you are immediately welcomed with new tasks since registration is not completed yet.

Coinbase review first steps © "coinbase.com Screenshot"

Also without completed setup you can use several basic functions, though. You can use the wallet, for example. Thus you can already receive, manage and send Bitcoin, Ethereum or Litecoin. Nonetheless we recommend completing a few security setups and activations before using it.

Coinbase review verify account © "coinbase.com Screenshot"

First step and one further security feature is adding a telephone number. You have to add a number where a SMS with a verification code is sent to.

 

Security feature: activating 2-factor-authentification and further security functions

After verifying your phone number and before you continue setting up your bank account and methods of payment we suggest activating the 2-factor-authentification and further security features.

 

Keep in mind: for this you need the separate and free authenticator-app “Google Authenticator”. You can download it from the Play Store for Google Android or from the App Store for Apple iOS.

 

2-factor-authentification can be activated under “settings” (1) – “security” (2). Here you have to activate the “authenticator” (3). Additionally you should always request a “verification code” (4) when you send currencies (highest security standard).

Coinbase Security: 2 Factor Authentification © "coinbase.com Screenshot"

Firstly you will receive another security code per SMS to your smartphone. After entering this code a window for activating the 2-factor-authentification pops up. Now you can see a secret authenticator code as well as a QR code.  

Coinbase Scan Google Authenticator QR Code © "coinbase.com Screenshot"

The secret authenticator code should be written down and kept safely (do not save it on your PC). You need the code in case you lose or damage your smartphone. With the aid of another smartphone you can setup another access. You can directly scan the QR code using the Google Authenticator app.

Google Authenticator App Android / iOS © "Screenshot: Google Authenticator"

After this, in the app there will be an entry for your Coinbase account stating a six-digit code. The only thing you have to do then, is enterning this code in the confirmation window.

Coinbase Security: 2 Factor Authentification © "coinbase.com Screenshot"

After successfully entering and confirming the code, setup of the 2-factor-authentification is completed. This setup significantly increases the security level of your Coinbase account. For the next login you are not just asked for your email address and your password, but also for the number in your Google Authenticator app. Since the code is refreshed and modified every 30 seconds, a hacker should not be able to crack this code.

Now your account is ready for further setup. From now on you can also use the wallets, thus you can receive and manage your crypto currencies.

 

Coinbase account verification in less than 3 minutes

In order to use all functions of your Coinbase account, you need a complete verification. After this you can add a method of payment, so that you will be able to sell and buy Bitcoin, Ethereum or Litecoin via Coinbase.

Coinbase Verify © "coinbase.com Screenshot"

 Here Coinbase offers various types of verification. Firstly you have to choose the kind of document. Passport, driving licence and ID can be selected:

Coinbase Verify © "coinbase.com Screenshot"

Second step of the account verification is choosing an upload method for the corresponding document. You can use a webcam, e.g. the integrated laptop cam or your smartphone/mobile phone camera.

Coinbase Verify © "coinbase.com Screenshot"

In our test the verification with our laptop worked fine. You just show both sides of you ID in front of the camera and in less than 3 minutes verification of your account is completed.

Coinbase Verify © "coinbase.com Screenshot"

Adding a mode of payment on Coinbase

In order to purchase Bitcoin, Ethereum or Litecoin via Coinbase you have to add a mode of payment. In Europe you can choose between two of them: there is direct payment per credit card or standard SEPA bank transfer. For larger amounts Coinbase explicitly recommends SEPA bank transfer. A disadvantage of this mode of payment is, that firstly you have to transfer US dollar or euro, which can take about two or three working days.    

In case you decide choosing payment via credit card, you will be charged with higher fees, but you can immediately buy Bitcoin, Ethereumor Litecoin.

Coinbase Add Payment Method © "coinbase.com Screenshot"

In our test we checked and added two modes of payment: both could be added without any problems.

 

Purchasing Bitcoin, Litecoin or Ethereum on Coinbase

In Europe Coinbase offers two possibilities to buy Bitcoin, Ethereum or Litecoin:

Coinbase buy Ethereum © "coinbase.com Screenshot"

Purchasing Bitcoin, Litecoin or Ethereum via credit card

Purchasing Bitcoin, Litecoin or Ethereum via credit card is very easy on Coinbase. Adding a credit card takes less than two minutes. After that you can directly buy crypto-currencies via credit card on Coinbase. Weekly limit is 500 euros (at least for your first purchase). After confirming your payment numbers, your crypto-currency will immediately be credited. 

Bitcoin, Litecoin or Ethereum can be bought very fast. It is less than half an hour from the registration till your first crypto-currencies in your wallet.

 Charge fees for using a credit card are very high. Particularly larger amounts should not be purchased by credit card.

Purchasing Bitcoin, Litecoin or Ethereum per SEPA bank transfer

The second mode of payment, besides using a credit card, is the purchase of Bitcoin , Litecoin or Ethereum per SEPA bank transfer. This takes two steps: first step is transferring money, i.e. US dollar or euro to your Coinbase account. After being deposited you can use this money to purchase the corresponding crypto-currency.

 Charge fees as well as exchange rates are fair and transparent. Bank transfer worked out without any problems, so that after 2-3 days you could buy crypto-currencies using your account.   

In order to immediately purchase Bitcoin, Litecoin or Ethereum bank transfer is not the appropriate method. Here you have to deposit the corresponding amount of US dollar or euro in advance.

 

Increase your purchasing or selling limits on Coinbase

Particularly for beginners amounts for exchanging is limited on Coinbase, so that you can only exchange a weekly amount of Bitcoin, Ethereum or Litecoin worth 500 euros via credit card after your verification.

Coinbase Weekly Sell Buy Limit © "coinbase.com Screenshot"

Coinbase has several levels of limiting: if you are a beginner you start with a low weekly limit. In order to increase your weekly amount, your account has to be confirmed. You have to adjust all your data and process as many transactions as possible. You can increase your limits performing the following steps:

Check your account

  • confirm your email address
  • confirm your telephone number

Complete and adjust your personal data

  • complete name
  • date of birth
  • address

Add modes of payment

  • add your account information
  • add your credit card data
  • add your debit card data

Check your identity

  • tax ID number
  • an official ID document
  • answering several question for confirming your identity

Complete purchasing on Coinbase

  • buy several times using your modes of payment on Coinbase

You can find your personal limits under “settings” > “limits”.

 

Supported countries: Coinbase US, UK, Canada, Singapore, Europe and the world

Coinbase review world © "coinbase.com Screenshot"

Coinbase already offers its service in several countries, among them United States, United Kingdom (UK), Singapore and whole of Europe. In 32 countries you can use Coinbase: among others:

USA, Canada, Singapore, United Kingdom, Germany, France, Italy, Spain, Austria, Sweden, Finland, Switzerland, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Greece, Hungary, Ireland, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia.

Depending on the country Coinbase services can be different. The modes of payment are not supported in every country. You can check the particular services and modes of payment on https://www.coinbase.com/global.

 

Conclusion of our review: Coinbase rating, experiences and valuation

In our opinion Coinbase is one of the best and safest web-wallets and crypto-exchanges. After a long-term test of one year we can only report positive experiences. Admittedly Coinbase was not available during the test period for some days, but Coinbase keeps up learning from mistakes and come out of any downtime strengthened. Additionally communication is commendable (especially with their Twitter channel).

Experiences with purchasing Bitcoin, Litecoin or Ethereum

Also the integrated Bitcoin-, Litecoin- or Ethereum-exchanges worked without any major problems in all of our tests. Not only purchasing Bitcoin, Ethereum or Litecoin via SEPA bank transfer, but also using credit card worked out perfectly and the amount was credited to the corresponding Coinbase wallet. We are convinced that charge fees are extremely fair on Coinbase, particularly the fees for SEPA transfer. Only 1.49% of the ordered amount is charged. Indeed, charge fees for credit card payment are relatively high, 4% charge fees are added, but Coinbase is definitely one of the cheap FIAT-crypto-exchanges. Moreover, purchasing via credit card works out easily and fast.

Experiences with selling of Bitcoin, Litecoin or Ethereum

Selling crypto-currencies was executed professionally and fast by Coinbase. As a first step the currencies are re-exchanged for US dollar or euro and credited to the internal FIAT account (euro or US dollar). Once a verified account had been registered on Coinbase, withdrawal of the corresponding amount of euros or US dollars was no problem.       

Negative voices?

It is a fact that we read about problems in several forums as far as Coinbase support is concerned, but we cannot confirm these problems. Thus Coinbase is definitely a tip, particularly for Bitcoin-, Ethereum- or Litecoin-beginners. For larger amounts of crypto-currencies we do not recommend the Coinbase wallet. We would like to mention a hardware-wallet instead, for example Ledger Nano S or Trezor-Wallet. Here your Bitcoins, Etherum or Litecoins are safer than in a web wallet.

Advantages of the Coinbase wallet

Beginner-friendly: Coinbase is most appropriate for Bitcoin- and crypto-currency-beginners.

 Integrated purchase of Bitcoin, Ethereum or Litecoin per SEPA bank transfer or credit card: so you can quickly get your first Bitcoin, Ethereum or Litecoin.   

 Established, legitimate and trustworthy company situated in San Franciso (USA).

 Coinbase offers high security standards, for example 2-factor-authentification or the Bitcoin, Ethereum or Litecoin “safe” (vault). Nevertheless you are responsible and we explicitly warn you not to keep larger amounts of money on Coinbase. For these larger amounts you can use other types of wallets (for example hardware wallets, which are much safer than web wallets.   

The platform is permanently developed further and new functions and updates are offered on a regular basis.

Disadvantages of the Coinbase wallet

 Control of your own Bitcoins, Litecoins or Etehreum is assigned to a foreign company; you do not have any control about your own wallet’s private keys. For crypto-currency beginners this can be an advantage, but since you will be getting deeper knowledge of the crypto world you often need control of your private keys (for example concerning hard forks).

The wallet is a hot wallet and therefore has less security levels than a hardware-based wallet.

In the last few months Coinbase experienced some failures and could not stand up to the rush demand. Thus there were times when you did not have any control of your own Bitcoin, Ethereum or Litecoin.

Coinbase alternatives

Indeed, Coinbase is one of the most popular web wallets and crypto-exchanges in the US, UK and Europe, but there are many providers offering a similar service as Coinbase. 

Coinbase vs. Blockchain.info

Blockchain.info © "blockchain.info Screenshot"

An alternative to Coinbase is the Bitcoin wallet Blockchain.info. Blockchain.info concentrates its services on an extensive Bitcoin web wallet. Among others you can use additional functions like export and import of the private keys. Thus it is possible to import a paper wallet on Blockchain.info. Unfortunately this function has not been supported yet by Coinbase. Also on Blockchain.info you can directly purchase Bitcoin and credit them to your Bitcoin wallet. However the exchange function on Blockchain.info is cooperation with the exchange service Coinify. So you can directly buy or sell Bitcoins via Blockchain.info without any registration for Coinify. We have to admit that we prefer the integrated version on Coinbase, i.e. a third party provider.

Advantages of Blockchian.info compared to Coinbase:

Blockchain.info offers more possibilities as a web wallet, particularly the features of export and import of the private keys has not been offered so far.

Disadvantages of Blockchian.info compared to Coinbase:

 Unfortunately, there are no other built-in crypto currencies than Bitcoin. Coinbase already supports Bitcoin, Ethereum and Litecoin.

 Purchasing or selling crypto-currencies on blockchain.info is processed by the service provider Coinify. We did not have any problems in our tests purchasing Bitcoin, but we prefer the integrated version on Coinbase.

 

Coinbase vs. Bitcoin.de

Bitcoin.de © "Bitcoin.de Screenshot"

If you compare Coinbase with Bitcoin.de there are common features, but also many differences. However, you can receive, sell and deposit crypto-currencies with both providers, but Bitcoin.de is not really a web wallet as it is offered by Coinbase. On Bitcoin.de you can only send currencies exceeding a certain amount from your Bitcoin.de-wallet. Bitcoin.de obviously focuses on trading crypto-currencies. At the same time Bitcoin.de does not sell the currencies as a broker, this means that the currencies, as distinguished from Coinbase, are not directly bought from the potential sellers. Bitcoin concentrates on the principle of a market place: users of Bitcoin.de can directly trade Bitcoin, Bitcoin Cash or Ethereum. This means some advantages but also disadvantages.

Advantages of Bitcoin.de compared to Coinbase:      

Bitcoin.de charges less fees for Purchasing or selling compared to Coinbase. Since Bitcoin, Ethereum or Bitcoin Cash can be traded with other marketplace users, prices can be lower than direct purchase on Coinbase.

 If you connect your Bitcoin account to Fidor bank, you can quickly and cheaply buy crypto-currencies without pre-depositing credit on Bitcoin.de (as opposed to SEPA transfer on Coinbase).

Disadvantages of Bitcoin.de compared to Coinbase:

 Purchasing crypto-currencies works via a trading system, so that it can take some time on Coinbase until first currencies can be purchased. On Coinbase you can directly buy after a successful verification.

 The verification process on Bitcoin.de is more complicated, i.e. you can buy Bitcoin, Ethereum or Bitcoin Cash only after a few days. In order to immediately buy crypto-currencies, we can recommend Coinbase.

 Bitcoin.de only offers the following methods of payment: bank transfer or express purchase via Fidor bank account. For a fast purchase process the platform lacks easy payment methods like credit card or Paypal (the latter is not available on Coinbase either).

 Bitcoin.de does not offer extensive, integrated web wallet functions. If you do not have a separate wallet yet, you should get one. On Coinbase the web wallet for Bitcoin, Ethereum or Litecoin already has a good standard of functionality and security. In case you consider trading larger amounts you should use a secure wallet (hardware wallet) instead.

Coinbase vs. Hardware Wallets (Ledger Wallet or Trezor Wallet)

Another alternative for Coinbase are so-called hardware wallets. These wallets bring a much higher security standard than web wallets like Coinbase or Blockchain.info. The private keys of the wallet are hereby secured on an external device (usually USB stick) and are not transmitted directly to the computer or are available on the Internet. This makes it almost impossible for hackers to access the stored hardware wallet coins. Hardware wallets, such as the Ledger Wallet or the Trezor Wallet, are among the safest wallets. However, these wallets have no integrated way to buy Bitcoin, Ethereum or Litecoin.

Is Coinbase down?

Coinbase review: is Coinbase down © "coinbase.com Screenshot"

From time to time it can happen that Coinbase is not available. Every now and then this occurred, especially when there were significant ups and downs of the Bitcoin exchange rate or hard forks. In this case many Coinbase users access their wallets and overload the Coinbase servers.

Coinbase review: is Coinbase down © "coinbase.com Screenshot"

There might not fail all functions of Coinbase but only single features like the Coinbase website, Coinbase API, the community, single crypto-currency wallets, customer support or individual modes of pament (credit card, US bank accounts, US wires, Paypal, SEPA transfer, Singapore bank transfer or EU debit/credit card). The particular status of the Coinbase services can be checked under https://status.coinbase.com/.

Coinbase review: is Coinbase down © "coinbase.com Screenshot"

How can I check, import or export my private key on Coinbase?

Unfortunately Coinbase has no possibility to check and save your own private key of the Bitcoin, Ethereum or Litecoin wallet. Thus it is not possible to export the private key and, for example, importing it into another wallet. Particularly with hard forks of the corresponding currency the new created currencies (for example Bitcoin Cash (BCH) or Bitcoin Gold (BCG)) cannot be directly imported into other wallets and made use of. Since there was a great outcry of the Coinbase users because of the Bitcoin Cash (BCH) hard fork, Coinbase promised an export feature for Bitcoin cash and Bitcoin Gold. We will keep you updated with further developments.

The other way does not work on Coinbase either: importing of an already existing Bitcoin, Ethereum or Litecoin wallet is not possible. Therefore you can only send coins via a standard transfer. In case the coins are saved in a Paper Wallet, Wallet.dat file or Brain wallet (your own brain), you have to import the private key into another wallet (e.g. Electrum, Multibit or Blockchain.info) and can then be sent to your Coinbase wallet.

Bitcoin-, Ethereum- or Litecoin-Vault (safe)

Coinbase provides a special wallet: the Bitcoin-, Ethereum- or Litecoin-Vault (safe). For this wallet with extended security functions you can also choose an option of complete control over the private keys. Here you can also export the private keys of the vault.

 

Coinbase Bitcoin Gold (BTG)

BitcoinGold claim via Coinomi © "https://BitcoinGold.org/ Screenshot"

Bitcoin Gold was created through a so-called hard fork on the 25th October 2017. Here the Bitcoin-blockchain was copied at block 491.407 (=status of 25th October 2017) and since then it has been running separately from his bigger brother Bitcoin. This procedure is of particular interest for those who already own Bitcoins since they have the possibility to get Bitcoin Gold for the same amount.

What is Bitcoin Gold and how do I get Bitcoin Gold for free?

 

Does Coinbase support Bitcoin Gold?

At the moment Coinbase does not support the crypto-currency Bitcoin Gold. This means that Bitcoin Gold can neither be traded on Coinbase nor be saved. Currently Coinbase does not show any intentions of offering the service of a Bitcoin Gold wallet.

Coinbase secures Bitcoin Gold of the customers, who had a corresponding amount of Bitcoin in a Coinbase wallet at the time of the hard fork. Coinbase won’t sell or keep these Bitcoin Gold coins, but provide these for the customers - if there is a Gold support in the future – so that the coins can be withdrawn and sent to a Bitcoin Gold wallet.

 

Coinbase Bitcoin Cash (BCH)

Bitcoin Cash is a new crypto-currency which emerged via a Bitcoin hard fork on the 1st August 2017 (separation from the Bitcoin network). The Bitcoin cash developers changed the Bitcoin code and enlarged block size from 1 MB to 8 MB. This is the reason why Bitcoin Cash supporters expect lower transaction fees and a higher throughput of transactions. Whoever had Bitcoins before the 1st August 2017 then owned the same amount of Bitcoin as well as Bitcoin Cash after the separation.

Can you purchase Bitcoin Cash (BCH) on Coinbase.com?

Presently Coinbase does not sell any Bitcoin Cash (BCH). After the start of Bitcoin Cash in August there were many complaints of users, that Bitcoin owners had not received any Bitcoin Cash. Coinbase explained this issue because of technical and security measures. Coinbase promises that users can access the corresponding amount of Bitcoin Cash and withdraw it in 2018.

Is it possible to withdraw Bitcoin Cash (BCH) on Coinbase?

Currently that is not possible. Coinbase is planning a support of cash withdrawals (1st January 2018).

When can you withdraw Bitcoin Cash on Coinbase?

Coinbase is planning a withdrawal of Bitcoin Cash from the 1st January 2018 on.

 

Buying IOTA, Monero, Ripple, Dash, Ethereum Classic or NEO on Coinbase

At the moment is not possible to purchase IOTA, Monero, Ripple, Dash, Ethereum Classic or NEO  on Coinbase. Coinbase does not offer a wallet for these Altcoins either. these crypto-currencies have to be purchased on other exchanges.

 

Buying Bitcoin, Ethereum or Litecoin on Coinbase using Paypal

Coinbase Sell with PayPal © "coinbase.com Screenshot"

Presently you cannot buy Bitcoin, Litecoin or Ethereum on Coinbase using Paypal. In the USA Coinbase already offers selling crypto-currencies via Paypal. So you can directly sell Bitcoin, Ethereum or Litecoin and sent the turnover to your Paypal account. In other countries like UK, Singapore, Canada or Europe neither purchase nor selling via Papal is possible.

 

Is Coinbase safe to link your bank account?

Many people are worried about linking Coinbase with a bank account and wonder if the bank account credentials are stored safely. Coinbase has very high security standards: the internet traffic is secured by SSL and Coinbase uses bank-level AES-256 encryption on their servers. Also the access to the bank credentials through Coinbase employees is heavily restricted.

For US residents, who can verify their account in just a few minutes by adding the bank credentials, these banking credentials will not be saved on the Coinbase servers. Coinbase uses a trusted third-party provider “Plaid Technologies” for instant account verification.

Credit Card data is also hosted by a third-party payment provider in compliance with Payment Card Industry Data Security Standards (PCI DSS). Coinbase employees have no access to this data.

 

Why does Coinbase need an ID verification and is the ID information safe?

Coinbase is a highly regulated financial company situated in the US. For this reason they have to make sure, that they know their customers and correctly store information about their customers. This ensures Coinbase remaining in compliance with KYC/AML laws.

Coinbase protects all personal data – including the ID - by maintaining physical, electronic, and procedural safeguards in compliance with applicable laws. They use computer safeguards such as firewalls and data encryption, enforce physical access controls to buildings and files, and Coinbase authorizes access to personal information only for employees who require fullfilling their job responsibilities. For more information see: https://www.coinbase.com/legal/privacy

 

 

Coinbase Promo Code: receive Bitcoin worth 10 US dollar (8 euros) for free

coinbase-review-promo-code © "coinbase.com Screenshot"

For a new registration using our link you will receive a bonus of Bitcoin worth 10 US dollar (ca. 8 euros). These will be credited to your account after purchasing Bitcoin worth 100 US dollar on Coinbase. Just register a new Coinbase account using the link, purchase Bitcoin, Ethereum or Litecoin worth 100 US dollar and your bonus is credited.

Click here to receive Bitcoin worth 10 US dollar with the Coinbase Promo Code.

Note: we will receive a bonus of 10 US dollar (ca. 8 euros) as well.



Your Name will be displayed next to your comment.

1 + 4 =



Coinbase Bitcoin Wallet Web-Wallet Ethereum Litecoin

18.207x Views | 0 Comments

A

5 Stars

Very good web wallet, for Bitcoins, Litecoins as well as for Ethereum.

Andre



Advertisment



Interesting Articles

Investment

Reviewing CoinTracking: our experiences with detailed instructions

Reviewing CoinTracking: our experiences with detailed instructions

With this tool you can keep a clear overview of your own crypto-portfolio: current value, profit or loss of trades, balance sheets, realized and unrealized profits, tax returns and much more!

CoinTracking is an innovative management tool for over 5,400 existing crypto-currencies. With this you can check your own portfolio on the desktop as well as using the mobile app at any time. All data can be imported manually, via csv file or automatically via API. The basic version is free. If you intend to manage many trades, we recommend a lifetime account.

read more »

Cloud Mining

Investing in Bitcoin & crypto-currency cloud mining: is cloud mining worth it?

Investing in Bitcoin & crypto-currency cloud mining: is cloud mining worth it?

How can you make solid profit with digital currencies: what is cloud mining and should you invest in it?

Bitcoins have received a great attention all around the world due to its fantastically rising value in the crypto-currency industry. What wouldn’t if the price jumps three times in a matter of few months? With individuals and businesses interested become involved, it is only reasonable to question what options are available out there when bitcoin trade is concerned. 
This article investigates one of those options as it grew in popularity in recent times – Cloud mining. Join the ride as we take you through pros and cons of contracted mining operations, and whether it is worth your time or not.

read more »


Bitcoin Mining

Hashflare

Cloud Mining Provider for Bitcoin, Ethereum and other Altcoins

Genesis Mining

Genesis Mining - profitable Cloud Mining for everybody?



Bitcoin Exchanges

Bitcoin.de

German Bitcoin and Cryptocurrency Marketplace

LiteBit.eu

EU Crypto Currency exchange with over 40 crypto currencies for immediate purchase (SOFORT, Giropay, SEPA)

Bitpanda

Buy Bitcoin, Ethereum, Dash, Litecoin with Credit / Debit Card or SOFORT (only Europe)

Coinmama

Buy Bitcoin & Ethereum with Credit / Debit Card in Minutes



Bitcoin Wallets

MyEtherWallet

When it comes to security, ease of use and a user-friendly interface, My Ether Wallet (MEW) comes in.

Electrum Wallet

The Electrum wallet is fast, efficient and lightweight as well as safe to use. In fact, it's one of the safest wallets according to users.

Trezor Wallet

Secure hardware-based Bitcoin and Altcoin Wallet

Exodus Wallet

Desktop light wallet for various crypto currencies and Exchange service






Cryptocurrency Prices & Charts