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5 Reasons to Use Coinbase to Trade Crypto
One of the largest and most well-known digital currency exchanges in the world, Coinbase has grown exponentially over the years since it was first created.
Now, almost every trader uses this platform to get more Bitcoins, invest and trade crypto, and learn about updates regarding blockchain currencies.
Most beginners who want to test the waters of cryptocurrency trading typically set up their accounts on Coinbase.
This is because it is an excellent teaching ground for people who want to learn more about crypto but don't want to take many risks.
With nearly 56 million users, it's no surprise that Coinbase is the best trading service for cryptocurrency. But what exactly makes it so brilliant compared to other exchanges?
In this article, we will highlight all the reasons behind its success to decide whether it is right for you.
What is Coinbase?
Launched in 2012, three years after Bitcoin was created, Coinbase has gained huge success because of how easy to use and accessible it is.
The company has gained millions of users over the years and has been increasing its assets steadily.
You can buy, sell, transfer, and store, cryptocurrencies securely on this platform.
Additionally, it also lets you convert one cryptocurrency into another.
Much like stock trading apps, Coinbase shows the current price and trends of digital currencies like Bitcoin, Etherium, Litecoin, and about 50 others.
It does all of this through an extremely user-friendly interface.
5 Reasons Why You Should Use Coinbase
There are a few significant features of this investment app that makes it the best of the best.
Because of these, and among other reasons, you should definitely start trading on it.
Here are the reasons why Coinbase to trade crypto might be a worthwhile decision for you.
1- It is Easy-to-Use
One of the most significant pros of Coinbase is the fact that it is exceptionally user-friendly.
This feature is a necessity when it comes to cryptocurrency trading services because it is already quite complex and confusing for beginners.
Signing up on the platform takes no time at all, and syncing your bank account to your Coinbase account is also pretty simple.
The Coinbase interface is bright and easy to navigate through.
The straightforward design of the app allows you to pinpoint how to buy, sell, send and receive crypto.
If you face any confusion, then you can easily use the search bar on the site.
Coinbase also has a lot of educational content that beginners can make use of.
2- Completely Safe and Secure
Besides user-friendliness, another important necessity for crypto trading services is security.
This is where Coinbase triumphs among other exchanges.
The trading platform has top-notch security that protects all the assets of its users.
All users must complete the two-factor authentication before signing in, and the app also requires biometric fingerprints and passwords.
Coinbase keeps your crypto safe in its free wallet service, but you can choose to keep it in another third-party wallet as well.
Moreover, the trading platform has never been hacked or faced any theft before.
This is because it holds nearly 98% of its user's assets in cold storage, which basically means in offline devices at various locations around the world.
For some of the assets that have been stored online, Coinbase provides insurance of up to $250,000 for each customer.
3- Buying and Selling is Easy and Convenient
Bitcoin and cryptocurrency, in general, is an excellent investment.
However, the only drawback of crypto is that it can be confusing and difficult to use.
However, at Coinbase, transactions are quick, and the interface and app, in general, are easy and simple to use.
That's not all, but you have to load up your funds through a bank, credit, or debit card, just like with any other investment.
Compared to other cryptocurrency wallets, the Coinbase one is quite convenient because you don't need to convert your cash into crypto.
Additionally, it also has a wide selection of coins, about fifty of them.
The platform keeps adding more as well.
Hence, if you want to invest in different types of coins, you can easily do so with Coinbase.
4- Provides Features for Advanced Users
Besides the standard version of Coinbase, you can also opt to use the Coinbase Pro App that is designed for advanced users.
You don't need to create a new account to use the pro version of Coinbase.
Though fees may be higher, it offers a multitude of features that make it so good, for example, several transaction options and advanced tools.
Because Coinbase has two versions, it can cater to a wider audience, for example, to both beginners and those who want an easier interface or for advanced crypto traders who prefer more features.
5- Has Excellent Customer Service
Even though Coinbase works so well, if you come across some issues, you can easily rely on their customer service.
They have a full team of customer service staff who will help cater to any issues, queries, and problems you need to solve.
Compared to other wallets and trading platforms, Coinbase has a much better customer support staff.
Besides that, they also have an excellent referral program where you can get free cryptocurrencies if you refer a friend.
Whether you need help setting up your account or know more about how you can invest in crypto, you can drop an email or call their customer service.
The Bottom Line
With its quick sign-up service, ease of use, and a wide variety of trading options, Coinbase is a popular and excellent trading platform.
For crypto investors who are just starting out with trading, the best service to choose from is Coinbase.
Although the only downside of the platform is the higher fee, the benefits and features definitely make up for it.
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