Where Coinbase shines
Selection. Coinbase-login has greatly expanded its crypto offering, now with access to more than 150 cryptocurrencies.
Trading platforms. Coinbase users can trade on several platforms. The original Coinbase platform is a relatively simple interface that allows users to use U.S. dollars to purchase cryptocurrency. Coinbase Pro has advanced charting functions and allows users to make crypto-to-crypto transactions and place market, limit and stop orders. Recently, Coinbase has added some of Coinbase Pro’s functionality and its lower costs to its classic interface with a feature known as Advanced Trade.
Coinbase(login) also is trying out a new option, called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee. In May of 2022, the cost was about $30, though the program was still in beta testing.
Coinbase Earn. A novel way to “earn while you learn,” Coinbase provides a series of video classes and exams as a way to educate users about cryptocurrency trading and some of the cryptocurrencies on offer. And, by taking the classes, users can earn certain cryptocurrencies.
Where Coinbase falls short
Fees. Coinbase has higher fees (and at times a more confusing fee structure) than other cryptocurrency exchanges.
Coinbase is best for:
Cryptocurrency traders looking for convenience.
Traders who want to easily convert one cryptocurrency to another.
The minimum amount needed to buy cryptocurrency on Coinbase is $2.
Trading and transaction fees
Coinbase's fee structure is a confusing combination of elements that depend on three factors:
Coinbase charges a spread on cryptocurrency sales and purchases. While rates can vary depending on market fluctuations, the company has previously said the fee is about 0.5%.
Coinbase also says it charges fees based on factors “including the selected payment method, the size of the order, and market conditions such as volatility and liquidity.”
In addition, Coinbase charges fees to cover the costs of executing transactions on the external blockchain networks that support the cryptocurrencies in which it deals.
Overall, these factors can make Coinbase fees difficult to predict on its main platform. The company says it clearly lays out fees for customers before finalizing a transaction.
By comparison, Coinbase Pro’s pricing model is more straightforward, however fees have risen slightly in recent years. It's based on your monthly trading volume and liquidity of the asset at the time of purchase; if immediately available, you're charged a “taker” fee, and if your order needs to wait for a buyer, you are charged a “maker” fee. With Coinbase Pro, deposits and withdrawals must be made through a bank account; no card purchases are allowed. Wire transfer fees still apply. (Dive into the differences: Coinbase vs. Coinbase Pro.)