What is CoinBase and should you trust it?
Find out the REAL TRUTH in this CoinBase review!
Service : CoinBase
Created by : Brian Armstrong
Official Site : http://CoinBase.com/
Bonus : YES! Check this out below..
What Is CoinBase All About?
Coin Base is a popular platform for exchanging, transferring, and storing various digital currencies including Bitcoin, Ethereum, and Litecoin.
The company has been around since 2012 and in that time they have processed over 6 billion dollars of digital currencies, across 33 countries, for a total of 6.7 million customers.
CoinBase claims they’re the “‘one stop shop’ when it comes to wallets, exchanges, and merchant tools in one simple interface.”
Let’s find out if that’s true…
How Does The CoinBase Marketplace Work?
It’s simple really..
You can sign up just like any other site on the internet, create an account with a password, plug in your credit card, and start buying digital currencies within the next 5 minutes.
Of course, there are some restrictions and limitations in place in regards to how much you can trade right out of the gate.
How To Start Buying Bitcoin, Ethereum, and Litecoin on Coinbase..
When I signed up, CoinBase only allowed me to buy up to $100 worth of coins in a 7 day period and have since raised that limit to $200 per week.
If I wanted to increase it above the maximum $200 buying power I would need to offer more information like a government issued ID.
There’s an option to link up to multiple payment methods and each option has it’s own fees and limitations :
- Paypal – Need drivers license or photo ID for approval
- Credit Card – No approval but convenience fee of 3.75%
- Bank Account – Link your bank account and increase spending limits to $2,500 (documentation required)
What Currencies Are Available To Trade On Coin Base’s Website?
Bitcoin, Ethereum, and Litecoin was just added a couple days of writing this post.
This makes it a great place for newbies to “get their feet wet” and start investing into crypto coins quickly and easily.
There’s some talk around the crypto-community about CoinBase adding Monero to there list of coins available on their site but at this point that’s a bunch of hear-say, Sally.
How Do You Make Money With CoinBase?
The easiest way to start making money with Bitcoin or any other crypto currency is to start investing yourself.
I started by grabbing 5 Bitcoin from a buddy and I’ve been holding them ever since, and as you may well know, Bitcoin is at around $1600 as I type this up.
So, one simple strategy is to buy and hold on to your coins and the way BTC is moving, in the next few years one coin could be worth upwards of $10,000 or more!
Head over to CoinBase right now, sign up and grab $100 worth of BTC.. It’s not too late to get involved.
PLUS, You’ll even get a $10 bonus in FREE bitcoin after you spend $100 on CoinBase.
Should You Trust Coin Base?
Yes, and No! Here’s why…
Yes, you should trust CoinBase to make simple purchases of coins but I personally would not store say, 100 bitcoins on my CoinBase wallet.
The truth is no matter how secure an online system is I just don’t like to leave my investment in the hands of some potentially “secure system.”
Sony network got hacked, costing them billions of dollars and tons of lawsuites, so if one of the largest electronics companies on the planet can get hacked I’m sure there is potential for ANY online system to be hacked all the same.
The Best Way To Work With CoinBase –
- Purchase a small amount of coins first
- Once the coins you purchased reach your CoinBase account, transfer the coins out of your CoinBase wallet to another Wallet, preferably a hardware wallet like Ledger Nano S
The hardware wallet is the most secure way to hold on to your coins as they are not in some cloud, they are literally in your hardware protected with multiple levels of security like a pin code.
NOTE : If your hardware wallet falls into a river or gets stolen don’t worry, your coins are safe and secure. Every wallet has a password that is like the “golden key” and you can use this key to load your “lost” coins onto your new wallet safely.
Should You Buy/Sell/Trade With CoinBase?
See the tips above on keeping your coins safe but you need to get involved in cryptocurrencies if you haven’t already.
Some of the biggest companies on the planet now accept Bitcoin (think Overstock.com) along with massive lending institutions like BBVA and many many many more..
CryptoCurrencies are not going anywhere and if you’re not involved then you don’t even know what you’re missing!
One thing to not about Coinbase is that after you make a purchase your coins will be held in your CoinBase online wallet.
It’s best to get a hardware wallet and transfer your coins from Coin Base to your hardware wallet, this way if the site ever runs into security issues your coins wont be effected.
CoinBase Vs. The Competition..
There are a ton of other exchanges like CoinBase around but not many of them have pushed through 6 BILLION dollars of transactions through their network!
Also, I’ve found the fees of other competitor sites a bit higher in many cases which can really add up when you’re doing a number of transactions.
What I really like about CoinBase is that you can get signed up in seconds and a few minutes later you can have your coins in your account making you money.
Plus, who doesn’t want to get $10 worth of FREE bitcoin???
At this point, I’m recommending CoinBase and that’s my final answer, for now!
How To Get FREE Bitcoins From CoinBase Revealed..
- Click this link or the button below to head to the official CoinBase website
- Create your new account on CoinBase.com
- Buy $100 worth of Bitcoin on your new Coinbase account
- You’ll get $10 worth of Bitcoin for FREE!!
That’s all it takes to get FREE bitcoin right into your CoinBase account by tonight..