What Is Coinbase?

In 2008, the news leaped with the headlines about Bitcoin. Millions of people got attracted to it, took keen interest and began to invest in it. In the last couple of years, the world of cryptocurrencies has seen an increase in public attention. In return, a majority of people have shown their interest in buying and selling digital currencies. 

The hype has evolved to the extent that the adoption of academic courses by the top institutions on cryptocurrencies, blockchain technology, and Coinbase are on the rise. 

If you are also thinking to enter the cryptocurrency space, buying your favorite digital coin through an exchange is the easiest way that lets you buy and sell digital coins at the tap of a button.

There are thousands of exchanges out there but Coinbase is leading the race. What we mean is if you want to buy cryptocurrencies but have got no prior experience, then Coinbase can be your best call. Let’s discuss everything you need to know about it.

What is Coinbase?

At its most elementary level, Coinbase is one of the most popular exchanges available today. It offers an easy to navigate, high liquidity and secure user interface for investors as well as beginners to buy and sell top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). 

Coinbase is a global digital asset exchange company (GDAX) where users can buy and sell digital currencies. The information of those transactions is sent out to the blockchain network to verify those transactions. Not only a broker but Coinbase also serves as a wallet to store the digital currencies. You get the authority to purchase cryptocurrency with your credit card or bank account and even get access to your customizable cryptocurrency wallet. 

Who invented Coinbase? Developers Brian Armstrong and Fred Ehrsam founded Coinbase in the year 2012. Coinbase is usually opted by the inexperienced investors who are looking to purchase cryptocurrencies for the first time. 

What are the features of Coinbase?

Coinbase has a myriad of extraordinary features that make this platform quite authentic. It is available on the web as well as a mobile application (compatible with both Android and iOS). This offers convenience to users. The best part is that the exchange platform provides insurance for digital assets since they are stored on the servers. The policy makes the platform trustworthy and reliable.

Moreover, the company provides the option of immediate exchange by converting digital to local currency. 

Why Coinbase has become the most preferred choice?

 

• Easy-to-use: Coinbase boasts itself to being beginner-friendly. It has an easy to use and intuitive interface as well. 

• Low fees: Coinbase has relatively low fees as compared to other platforms. 

• Security: When it comes to security, Coinbase is a responsible exchange. It offers top-notch security features. To preserve the user’s digital assets, it follows two-factor authentication, Multisig Vault, Coinbase secure vault and USD Wallet. 

How to get started with Coinbase?

Follow the steps below to get started with Coinbase:

• To set up a new account on Coinbase, go to https://www.coinbase.com/.

• Click on ‘Sign up’. This will redirect you to the registration window.

• Fill in all the details and create a new password.

• Tick the checkbox ‘I’m not a robot’ then ‘Create account’.

• The registered email ID will receive a verification email that confirms an authentic user.

• Once the verification is done, the user can start trading.

Final verdict

We hope now you must be clear with ‘What is Coinbase’. The blog clearly states the reasons why Coinbase has attracted a customer base of 46+ million customers. The key reason is that the platform makes it a smooth process for those who enter the cryptocurrency market for the first time.

One can buy and sell popular cryptocurrencies at the click of a button. Not convinced enough? Get your hands on and try it out yourself.