How to Buy and Sell Cryptocurrencies on Coinbase? Pros and Cons of Coinbase
Coinbase is a digital asset exchange company, providing relatively easy-to-use platforms which allow people from all over the world to purchase and sell cryptocurrencies. Coinbase currently supports more than 50 different cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, however, the exchange is expected to support more in the future.
Pros:
- extremely well organized and user-friendly platform
- user-friendly website, app, and API
- Coinbase Pro exchange provides advanced charts and tools for cryptocurrency traders
- extremely reliable wallet service with 2FA security features
- secure cold storage solution for coins offline which are not on the market 24/7 (requires USD100k deposit)
- easy instant buy available through credit cards and PayPal, no fee
- instant cryptocurrency sell available through PayPal (USD only)
- relatively low fees (slightly lower than other exchanges such as Bittrex and Kraken)
- highly reputable company with a trustworthy team involved in the project; backed by trusted investors such as Y Combinator, Bank of Tokyo, and USAA.
Cons:
- High fees than other cryptocurrency exchange platforms
How to Buy and Sell Cryptocurrencies on Coinbase?
Coinbase is a digital currency exchange with a presence in 100 countries. Customers use the Coinbase platform to buy, sell, and store bitcoin.
In order to buy or sell Bitcoin on the Coinbase platform, you need to have funds available in your account. In most cases, this means creating an account and transferring money from your bank to your GDAX account. Once funds are available in your account you can easily buy and sell Bitcoin on the Coinbase platform with a few simple clicks.
Buying and Selling Bitcoin
To start buying or selling Bitcoin, simply navigate to “Accounts” and click on the wallet associated with the currency you would like to deposit (1). Then click “Send” and put in the amount you would like to transfer from your GDAX account (2) or deposit from a bank account. You can also sell Bitcoin directly from your wallet by clicking on the “Sell” button.
Coinbase currently supports USD exchanges with GBP, EUR, CAD, and AUD wallets. The exchange rate is determined by Coinbase and can be viewed on the “GDAX Exchange” page within your account.
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