Coinbase
Coinbase is a US-based cryptocurrency exchange where you can trade cryptocurrencies. It is one of the most popular exchanges, and offers not only borrowing, selling, earning crypto programs, but also a marketplace for NFTs, cards for individual uses, self-hosted private wallets, etc.
Learn more about crypto exchanges.
What is Coinbase?
Coinbase is a centralized exchange platform that provides services to crypto users in the areas of trading cryptocurrencies, borrowing crypto, earning money with passive income methods such as staking, portfolio management. In order to become a member of the platform, which provides services legally in more than a hundred countries, you must share your personal information within the scope of Know Your Customer (KYC) requirements. Your personal information may include proof of residence, proof of identity, your selfie and more.
Coinbase has a protocol that protects investors’ assets with FDIC insurance. This protocol insures users’ assets up to $250,000. Also, do not forget that your assets and your access to the site are kept safe with various encryption methods on the platform.
Note: Coinbase is a centralized exchange. Learn more about centralized exchanges. Therefore, the wallet it offers is a centralized cryptocurrency wallet that gives the custody of assets to Coinbase. Learn more about cryptocurrency wallets.
How to Use Coinbase?
To be able to trade in Coinbase, which is one of the largest cryptocurrency exchanges, it is necessary to first register, as in every exchange application. After completing the registration information and opening the account, it is necessary to connect a credit card or bank account to perform transactions. This will provide the necessary capital to carry out the transaction. After opening an account and entering their credit card or bank account information, investors can start trading.
Things to Consider Before Investing in Coinbase
At the beginning of the account opening process, the requested information must be filled in with the correct information. Because the transactions are completely legal and official, giving wrong information may cause some troubles and problems in the future. Already, Coinbase opens accounts with a very large audit. Still, great care is needed.
When adding the channel to provide capital, it is generally recommended to add a credit card instead of a bank account. Because there may be some delays in the capital provided through the bank account.