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Coinbase review 2023

The first review on our site, for the Coinbase platform in 2023. Read on..

Coinbase is a popular and user-friendly cryptocurrency exchange that offers a wide variety of options for both beginner and advanced traders.

It has a simple interface for buying and selling cryptocurrency with U.S. dollars,

as well as an advanced trading platform called Coinbase Pro.

  • Coinbase Pro offers advanced charting functions, allows users to make crypto-to-crypto transactions, and place market, limit, and stop orders.
  • Coinbase has recently added some of Coinbase Pro’s functionality and its lower costs to its classic interface with a feature known as Advanced Trade.

also Coinbase offers staking on its platform,

but it charges a 25% commission on yields, which is a downside for more advanced users.

Coinbase has an excellent track record, but it did have a security incident in 2021.

Overall, Coinbase is a go-to exchange for new and seasoned crypto investors,

offering a vast array of cryptocurrencies and helpful educational content.

How to create an account on Coinbase 2023

How to create an account on Coinbase 2023
what information is required to create a Coinbase account?

To create an account on Coinbase, follow these steps:

  • Go to https://www.coinbase.com from a browser on your computer or download and open the Coinbase app on Android or iOS.
  • Click on the “Sign Up” button in the top-right corner of the Coinbase homepage.
  • Enter your first name, last name, email address, and a strong password.
  • Agree to the terms of service and privacy policy.
  • Verify your email address by clicking on the link sent to your email.
  • Add a payment method, such as a bank account or credit card, to buy and sell cryptocurrency.

what information is required to create a Coinbase account

To create a Coinbase account, you will need to provide the following information:

  • Your first name and last name.
  • Your email address.
  • A strong password.
  • Your state of residence.
  • Your date of birth.
  • Your personal account number (PAN) and the name on your PAN card.
  • Information about what you use Coinbase for and your source of funds.
  • A payment method, such as a bank account or credit card, to buy and sell cryptocurrency.

Coinbase is required to ensure that all users’ information is accurate and verified to comply with financial regulations.

what are the fees associated with using Coinbase 2023

Coinbase charges fees when you buy, sell, or convert cryptocurrencies:

  • The regular Coinbase platform charges a fee of roughly 0.5% of the spread (the difference between the bid price and the ask price) on cryptocurrency sales.
  • Coinbase charges flat fees based on the dollar amount of each transaction, which varies depending on the amount of the transaction.
  • For transactions on cryptocurrency networks (i.e., transfers of cryptocurrency off the Coinbase platform), Coinbase incurs and pays network transaction fees (e.g., miner’s fees).
  • Coinbase charges a fee based on their estimate of the prevailing network fees for a standalone wallet-to-wallet send.
  • Coinbase also charges a commission based on the rewards you receive from the network if you participate in staking to earn cryptocurrency, which is currently 25% .
  • Coinbase Card credit transactions are charged a flat fee of 2% in total if you are borrowing USD from Coinbase or another affiliate of Coinbase.

what are the fees for Coinbase Pro 2023

Coinbase Pro has a different fee structure than the regular Coinbase platform.

  • Coinbase Pro uses a maker-taker fee model with fees that range from 0.60% to 0.00% based on the 30-day trading volume in U.S. dollars.
  • Orders that make liquidity incur maker fees, while orders that take liquidity incur taker fees.
  • The regular Coinbase platform charges a fee of roughly 0.5% of the spread on cryptocurrency sales and purchases.
  • Coinbase Pro is free to open, and upgrading to Coinbase Pro will unlock access to a significantly lower fee structure.
  • The fees for Coinbase Pro are based on the 30-day trading volume in U.S. dollars and range from 0.60% to 0.00%.
  • The maker and taker fees for Stable Pairs on Coinbase Pro are 0.00% and 0.001%, respectively.
  • Coinbase One is a subscription service that offers no-fee trades and other benefits in exchange for a monthly fee of $10.

what are the consequences of providing false information on Coinbase

Providing false information on Coinbase can have legal and financial consequences.

  • Coinbase is required to ensure that all users’ information is accurate and verified to comply with financial regulations.
  • Choosing not to confirm personal information can result in a restriction on the account and the inability to use certain features.

In addition, Coinbase has a dedicated fraud investigations team to protect customers from potential fraudulent activity.

  • Coinbase has also been ordered to pay a civil monetary penalty of $6.5 million for false, misleading, or inaccurate reports concerning transactions34.
  • Coinbase has received a Wells Notice from the SEC, which could lead to a successful enforcement action resulting in more than $1 million in monetary sanctions.

what are the steps to take if you suspect fraudulent activity on your Coinbase account

If you suspect fraudulent activity on your Coinbase account, you should follow these steps right away:

Turn on 2-step verification if you don’t already have it set up.

  • Secure your bank account by updating the passwords on the bank account linked to your Coinbase account.
  • If your bank account has been compromised, you’ll need to contact your bank.
  • Report unauthorized transactions by contacting Coinbase Support.
  • Contact your local authorities and file a police report if funds were removed from your Coinbase account by a third-party without your permission.
  • Have the authorities contact Coinbase directly.
  • Coinbase has a dedicated fraud investigations team responsible for providing a coordinated approach to the identification, investigation, and resolution of fraudulent activities on the Coinbase platform.
  • Coinbase also has an account protection policy that provides reimbursement for certain losses due to unauthorized access to a Coinbase account.

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