Cryptocurrencies are one of the most popular ways of earning money these days. Many people are engaging in this type of business due to the high income that this type of work is assuring and the ease and the less effort that you put into the business. Therefore, many people are continually venturing this business and seeking good opportunities where they can easily get a good amount of money.
However, some of the sites that offer such services are requiring their customers to pay large amounts of bills in order for them to acquire the service that they provide. Some of these services are worth paying for and is worth investing for. However, some of the prices do not justify the service that they get. In other words, not all of the paid services are “worth paying for”. Hence, we must be mindful of the sites that we sign-up to.
CoinBase is a well-known mainstream cryptocurrency exchange that most people join in. This site is very popular because of the advantages that it brings to its members. From trading and investing, you can earn money on this site.
Today, let us see if CoinBase’s services and advantages are “worth paying for.”
CoinBase Review Summary
Product Name: CoinBase
Product Type: Cryptocurrency exchange site
Creator: Brian Armstrong and Fred Ehrsam
Summary: CoinBase is a popular mainstream cryptocurrency exchange in the US. This is one of the sites that most of the new crypto investors are using. In addition, the site is giving or offering a wide range of high-quality services and features that would ultimately help those who want higher income and larger amounts of money.
Price: $50-$200
Best For: People who are interested in exchanging cryptocurrencies.
Rating: 5 out of 10
Not Recommended
What is CoinBase?
CoinBase is a popular mainstream cryptocurrency exchange in the US. This is one of the sites that most of the new crypto investors are using. In addition, the site is giving or offering a wide range of high-quality services and features that would ultimately help those who want higher income and larger amounts of money. It also helps you organize your transactions with the portfolios and folders that you can see in their site. The site is likewise a great avenue in order for the people to start their trading business due to the fact the site is also a trading platform that people can use. CoinBase also gives people the chance to experience cryptocurrency investments wherein people can generate more income with it. The site only accommodated Bitcoin trading, but then they allowed other crypto currencies that passed their standards. Moreover, the site is fully regulated and is a licensed cryptocurrency exchange in the United States and other territories.
The site was founded on the 20th of June 2012 by Brian Armstrong and Fred Ehrsam. And as of the moment their headquarter is situated at San Francisco, California and their revenue in the year 2019 was 2 billion USD.
How does it work?
CoinBase is a platform wherein many people can earn money and generate money through different ways. The popular options and ways that you can choose from are trading, investing, and staking cryptocurrencies. However, there are also different ways that you can earn with this site. There are also features and advantages that are present in this site that would really help you in growing your income and generating more money from your online work or business.
Great services do not generally equate to high prices. Nevertheless, this site is not free for you to use. There are fees and different plans that you need to pay for you to avail the services present. The fees on this site depends on how large or how small the cryptocurrency you’re transacting. Transactions that lie within $50-$200, you need to pay $2.99 for each transaction. But that is not the case for transactions higher than $200. CoinBase requires you to pay a variable percentage of 1.49%.
How do you earn with it?
In a straightforward manner, you can earn on this site through the means of trading, investing, and staking cryptocurrencies in different platforms. Another way is to watch some videos and answer a single question every time you finish watching the video. In addition, inviting your friends and family in using this app will also help you increase your income and make more money. In other words, your chance to earn a lot of money on this site is not limited to only one way or one task, rather you can choose from a wide array of options in trading.
Pros
Simple Interface
The people using this app are very delighted in the easy and very straightforward user interface that the site has. The site gives many people who are interested to venture this type of business to sign up and be a member in their site. Within minutes, people can buy and sell cryptocurrencies with ease and less effort. They also provide needed information about how cryptocurrencies work through the use of the learning program. Through this program, people who find the terms or processes confusing, can cope up and better understand the things that they are doing.
Wide-ranged altcoin choices
Unlike other cryptocurrency sites, CoinBase provides a wide array of choices that would help people to decide on what is best for their business. The site provides over 25 cryptocurrencies that would be used not only for cryptocurrency investing bus also for trading and staking. Hence, preventing shortage of options in cryptocurrencies and giving the people more chance in investing, trading, and staking at more options.
High Liquidity
The site is also known for the high availability of the liquid assets they possess to a market or a company. This advantage would really be helpful for people not only to have more money but also have the assurance that they’re protected by the site in case something serious happens; like a price slippage. This would be of great help to the investors due to the fact that this type of market can really be volatile or very unstable. In other words, people in this site would really become assured that their money wouldn’t go to waste in case a price slippage occurs.
Cons
High fees
People who are using this platform are subjected to high-priced features and advantages. As compared to the closest competitors of CoinBase, this site has higher fees and higher payments. Many of the amateur users who use the standard version of CoinBase are compelled to pay the costly fees that the site is offering. Thus, making others very hesitant to sign up on this site due to the high prices that it has. However, you switch to CoinBase Pro for free in order for you to pay lower prices.
You don’t control your own wallet.
One of the downsides of most centralized exchange sites is the lack of control of your personal e-wallet in the site. When transacting or purchasing cryptocurrencies, CoinBase automatically stores the money in your personal wallet. However, you don’t have full control with the holdings and assets they earned while using transacting in the site. Though you can avoid this through withdrawing the currencies that you earned while trading online.
Inconsistent Affiliate Information
CoinBase is also offering a referral affiliate program that their members can use for their advantage. However, the affiliate reward gives inconsistent information that can lead people into confusion. One of the most inconsistent information given is the payment schedules of the rewards. At certain times, the affiliate rewards do not pay its partners. Thus, creating a big red flag for people to consider before signing up in sites like CoinBase.
Not enough altcoin choices for those altcoin traders.
Even though the site provides a wide range of choices that beginners or newbies can choose from, there are not enough altcoins for those people who are serious about trading altcoins. Accordingly, the altcoin choices that are already present in the site is more than enough for beginners to use and invest in. In other words, people who are perhaps seasoned in this field might want to see different options that they can trade in. However, CoinBase is planning to add more options for them to accommodate more people; not only the amateurs but also those who are seasoned.
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