Coinbase Wallet Reviews: SCAM or LEGIT?

[Sotherefore]

Coinbase is a trusted cryptocurrency wallet, I believe they are country selective, you need to be on a country that can use it before you are capable of enjoying the full features of coinbase,i understand it is not available to some African countries.

 

[Aaron625]

You're there my friend. Even if we aren't ready to trade Cryptocurrency at Binance, with the options of saving and staking we can still earn money as time goes on.

Yeah its a passive income one, even if the coin is dropping down in price your staked coins won't be affected it will remain exactly like the way it is until the contract duration you take your profit.

Thats the the only case if you stake stablecoins like USDT , USDC. If you stake other coins like bitcoin , profit depends on the price of coin actually.

 

[jeff87]

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What is Coinbase

Coinbase is one of the oldest and most trusted wallets you can find on the internet. It was launched in 2012 and since then over 30 million people from more than 100 countries are using it.

Is Coinbase safe to use?



Coinbase is a real company that has it's own office in San Francisco. Since it was created back in 2012 the company has raised more than 500 million dollars from multiple investors.



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It's important to know that Coinbase is one of the only online wallets and exchanges that was never hacked in it's entire history. There have been a few hacking attempts but Coinbase always made sure to prevent their clients in time to avoid any potential hackers from stealing their coins.

Coinbase exchange

Coinbase is not only one of the biggest wallets, but it is also one of the biggest exchanges on the market.

Coinbase has around 40 coins/tokens available on their exchange platform that can be traded against each other or against fiat currencies. Trading pairs can be different,depending on the country where you live.


Coinbase fees

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IIn addition to fees listed in the images above, Coinbase also charges a 0.5% fee every time you buy or sell cryptocurrencies.



When trading cryptocurrencies between each other the fees could go up to 2%. There is no fixed fee here as it depends on the market fluctuations.



Coinbase Pro

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Coinbase Pro is a Coinbase platform that is recommended for professional traders that want to have access to more trading tools and have lower fees. Initially this was called GDAX exchange but it was changed to Coinbase Pro in order for the platform to gain more popularity due to using its original brand name.


Here you can see a list of fees available on Coinbase Pro :

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Aside from the lower fees and a more professional trading platform Coinbase Pro also has a FDIC insured meaning in case of anything bad happening to your funds you are entitled to receive up to 250.000$ back from the insurance.

Coinbase KYC

Perhaps one of the only things people consider as a disadvantage on Coinbase is the fact that you need to verify your identity before you can have access to the full package of services they offer. Down below you can see the verification levels of Coinbase

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How to register at Coinbase?

Visit Coinbase official website https://www.coinbase.com/, click on Get Started and create your account. You can use Coinbase on your desktop or you can download Coinbase mobile app.

I have a Coinbase account. I love to store my cryptocurrencies on this wallet. I don't see any problem using it. I hope it will forever be safe and secure from hackers and those who have bad intentions. I love Coinbase.

 

[kay169]

Thanks for the information I have heard of coin base wallet but I do not think it is used in my country because it is not supported is there anyway I can access it ?

 

[GIFTMICHAEL]

Thats the the only case if you stake stablecoins like USDT , USDC. If you stake other coins like bitcoin , profit depends on the price of coin actually.

If you stake coins like the USDT or USDC and other known coins, you won't get the best out of staking. Staking is rewarding when you stake the lower rank coins, cos they got higher APR than the top coins.

 

[Aaron625]

If you stake coins like the USDT or USDC and other known coins, you won't get the best out of staking. Staking is rewarding when you stake the lower rank coins, cos they got higher APR than the top coins.

Yeah but those low rank coins may be risky to invest , if their price drops a lot , we may suffer loss. Staking USDT has decent returns though. But you are right , those low rank coins have better interest rate.

 

[Nurudeen]

Coinbase is a good platform to start crypto currency exchange Business with. It has a good and strong security network that will make it hard for any scammer to tap into their system for any dealings

 

[GIFTMICHAEL]

Yeah but those low rank coins may be risky to invest , if their price drops a lot , we may suffer loss. Staking USDT has decent returns though. But you are right , those low rank coins have better interest rate.

I understand where you're going. Its risky though to invest on the lower coins cos when they drop a lot our funds follow too. But when it comes to staking their drop down doesn't matter to you cos you're locking it and gaining your APR interest at the end of the contract.

 

[Aaron625]

I understand where you're going. Its risky though to invest on the lower coins cos when they drop a lot our funds follow too. But when it comes to staking their drop down doesn't matter to you cos you're locking it and gaining your APR interest at the end of the contract.

But the USD value of the staked coin might change , since its dependent of the market. Suppose you invested 1 Ada coin at the rate of $1.18 in staking and after 100 days , you get like 1.5 Ada profit (just an example) , and that time 1 Ada might be as low as $0.5 or even more than $1.18. So if its less than $0.5 per coin , we are gonna lose some money right?

 

[GIFTMICHAEL]

But the USD value of the staked coin might change , since its dependent of the market. Suppose you invested 1 Ada coin at the rate of $1.18 in staking and after 100 days , you get like 1.5 Ada profit (just an example) , and that time 1 Ada might be as low as $0.5 or even more than $1.18. So if its less than $0.5 per coin , we are gonna lose some money right?

You won't lose money, you'll be rewarded with the ADA that is equivalent to the amount of money you locked. So.for instance you invested 1.5 ADA and the price is $1.18 per one, and the value of one ADA drops down from $1.18 to $0.96, you won't lose cos you locked your coin. You'll be rewarded with the ADA which is the same as your USD, plus your interest.

 

[Chibson]

it seems that trading with coinbase is not fully allowed in my country so I wouldn't have full experience of how it really works but I think I prefer binance.

 

[Aaron625]

You won't lose money, you'll be rewarded with the ADA that is equivalent to the amount of money you locked. So.for instance you invested 1.5 ADA and the price is $1.18 per one, and the value of one ADA drops down from $1.18 to $0.96, you won't lose cos you locked your coin. You'll be rewarded with the ADA which is the same as your USD, plus your interest.

This is the fact I was not aware , thats why I was blindly staking only stablecoins lol. I will try with other coins too , thanks for the valuable info.

 

[GIFTMICHAEL]

This is the fact I was not aware , thats why I was blindly staking only stablecoins lol. I will try with other coins too , thanks for the valuable info.

You're welcome dear. That's why we are learning together to improve in our investment choice too. Its good you've taking the advantage to seek for the higher APR coins.

 

[Stylex]

Coin base wallets scam or legit
As for me is niether scam nor legit the Reason why I said that is because I have never leave my money in any wallet I use to withdraw it when it reaches the maximum amount

 

[Hena101]

Of course bina

You're there my friend. Even if we aren't ready to trade Cryptocurrency at Binance, with the options of saving and staking we can still earn money as time goes on.

Of course binance has many many options of buying to save and stacking but it good to know when you stake my must be monitoring the price otherwise you will not know what is happening.

 

[Aaron625]

You're welcome dear. That's why we are learning together to improve in our investment choice too. Its good you've taking the advantage to seek for the higher APR coins.

Ya there are some coins , not that popular which have over 20% API , even Ethereum has unpredictably high interest rates than other coins. Do you know which site offers crypto staking other than Binance?

 

[GIFTMICHAEL]

Ya there are some coins , not that popular which have over 20% API , even Ethereum has unpredictably high interest rates than other coins. Do you know which site offers crypto staking other than Binance?

Trust-wallet offers that, that's what a crypto friend of mine told me. He has been staking there for long, he said they have better APR than their sister site binance.

 

[Aaron625]

Trust-wallet offers that, that's what a crypto friend of mine told me. He has been staking there for long, he said they have better APR than their sister site binance.

Oh , I have once tried staking tron with trust wallet and italmost rewarded same as binance or other staking platforms. Which coin you specifically stake?

 

[GIFTMICHAEL]

Oh , I have once tried staking tron with trust wallet and italmost rewarded same as binance or other staking platforms. Which coin you specifically stake?

I don't stake on one coin via Binance. The staking is done randomly everyday, you can't stake one coin all the time. I stake on neon at times, or yearn.finance, etc.

 

[Kelly5]

Coinbase would have gotten a better review from me if they were made available worldwide and not restricting people from certain countries using their wallet to transact