Coinbase is one of the mainstays in the crypto landscape. The company went public in April 2021, and since then has maintained its spot in the public eye. Coinbase has an easy-to-use platform, but a complicated fee structure.
Fees
The basic Coinbase platform has an extremely convoluted fee structure. You don’t pay maker/taker fees or a flat fee, but a spread fee that temporarily locks in the price for the transaction. You don’t get to see the fee you’ll pay until you’re about to submit the trade.
Coinbases spread fees typically run around 0.5%.
For Coinbase’s Advanced Trade users, the company charges a much simpler maker/taker fee on all transactions.
Maker/taker fees are common on most crypto exchanges. A maker creates liquidity on a platform, while a taker decreases it. The only drawback for users is that they don’t know whether they are a maker or a taker until after a transaction.
As with most crypto exchanges, Advanced Trade’s maker/taker fees decrease as the user trades higher volumes of currency. View the full range of fees for Coinbase Advanced Trade in the table below:
| Coinbase Trading Fees | | |
|---|
| Pricing Tier | Maker Fee | Taker Fee |
| Up to $10,000 | 0.40% | 0.60% |
| $10,000 to $50,000 | 0.25% | 0.40% |
| $50,000 to $100,000 | 0.15% | 0.25% |
| $100,000 to $1,000,000 | 0.10% | 0.20% |
| $1,000,000 to $15,000,000 | 0.08% | 0.18% |
| $15,000,000 to $74,999,999 | 0.06% | 0.16% |
| $75,000,000 to $250,000,000 | 0.03% | 0.12% |
In addition to trading fees for cryptocurrencies, Advanced Trade also charges a 0.001% taker fee on select stablecoin pairs, such as USD Coin (USDC)/EUR and Tether (USDT) and USD.
Security
Coinbase’s security protocols include checking the dark web for customer passwords, recommending the use of a third-party security key and offering onsite security prompts.
All U.S. dollar deposits on the Coinbase site are held in FDIC-insured bank accounts. Crypto holdings are not covered.
Coinbase carries criminal insurance, which covers security breaches to the site but not compromised login credentials. For this reason, it’s important that customers adhere to Coinbase’s strongest security recommendations.
Coinbase was subject to a series of hacks between March 2021 and May 2021. During this period, more than 6,000 customers had their accounts drained.
Opening a Coinbase Account
To open a Coinbase account, you need to be at least 18 or older, have a government-issued ID, an internet connection and a phone number. Coinbase, like most crypto exchanges, doesn’t charge any fees for opening an account.
Once a user taps the “get started” button on the Coinbase homepage, they’ll enter their legal name, email and password. They also need to prove their location. A verification email will then be sent to the user. After verifying their email, the user also has to verify their phone number for two-factor authentication.
The final steps in setting up a Coinbase account include answering a few questions concerning employment and source of funds and verifying the user’s identity using photographs of an ID. Once all this is completed, the user can link to a payment method and begin funding their account.
Crypto Wallets
Crypto wallets come in many shapes and varieties. For that reason, Coinbase offers more than a one-size fits-all wallet for your crypto storage needs. The exchange actually offers three different types of hot/online wallets:
- Coinbase Wallet. This self-custody wallet supports “hundreds of thousands” of crypto assets. It’s a separate wallet app that does not require you to open an account on Coinbase. You can also park your non-fungible tokens (NFTs) in this wallet.
- Coinbase Exchange. This default wallet option makes trades on Coinbase, but keep in mind your private keys are stored on the exchange, making them more vulnerable to hacks.
- Coinbase dApp Wallet.This wallet stores all ERC-20 tokens that run on the Ethereum network.
Cryptocurrencies Available on Coinbase
Coinbase offers more than 200 cryptocurrencies and stablecoins for trading. Here is a list of some of the most popular cryptos available for trading on Coinbase:
| Coin | Available on Coinbase |
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More coins available from Coinbase
A full list of Coinbase coin offerings can be found here.
FAQs
We believe that 2024 will provide favorable macro tailwinds for risk assets and, perhaps more critically, that the foundations for crypto regulation will continue to be built, facilitating long-term adoption.
How long does Coinbase reviewing take? ›
ID verification typically takes 10 minutes to 48 hours to complete.
What is the prediction for cryptocurrency in 2024? ›
Our most recent Bitcoin price forecast indicates that its value will increase by 10.26% and reach $77,148 by June 06, 2024. Our technical indicators signal about the Bullish Bullish 97% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 73 (Greed).
What is the future outlook for Coinbase? ›
Coinbase Stock Forecast
The 19 analysts with 12-month price forecasts for Coinbase stock have an average target of 221.79, with a low estimate of 80 and a high estimate of 325. The average target predicts a decrease of -9.18% from the current stock price of 244.20.
How much will Coinbase be worth in 2025? ›
According to the latest long-term forecast, Coinbase price will hit $500 by the end of 2024 and then $600 by the middle of 2025. Coinbase will rise to $800 within the year of 2026, $900 in 2027, $1000 in 2028, $1100 in 2029, $1200 in 2030, $1300 in 2032, $1400 in 2034 and $1500 in 2035.
How much will 1 Bitcoin be worth in 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 70,970.96 |
| 2025 | $ 74,519.51 |
| 2026 | $ 78,245.49 |
| 2027 | $ 82,157.76 |
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Does Coinbase report to IRS? ›
Under certain circ*mstances, Coinbase does report to the IRS, but that does not mean the individual taxpayers is not responsible for reporting. Coinbase's reports to the IRS can include forms 1099-MISC for US traders earning over $600 from crypto rewards or staking in a given tax year.
Why can't I cash out on Coinbase? ›
Funds on hold
When you use a linked bank account (ACH) to buy crypto or add cash to your account balance, the funds are placed on hold and won't be immediately available to send or cash out. Think of this like depositing a check to your bank account and having to wait for it to clear before you can remove the funds.
Which crypto will 10x in 2024? ›
Synopsis. Discover the top altcoins for potential growth in 2024, including 5thScape, DarkLume, Polygon, Ethereum, and Avalanche. Learn about their unique features and investment opportunities to enhance your portfolio.
In the dynamic landscape of cryptocurrency, these ten coins, including TRON, Shiba Inu, Astar, Kaspa, Dogecoin, Stellar, Kava, Polygon, Cronos, and VeChain, present diverse potentials for reaching the $1 milestone in 2024.
Will 2025 be a good year for crypto? ›
After a wave of regulatory pushbacks against crypto over the last couple of years, industry experts are anticipating a much friendlier 2025, thanks in part to positive regulatory developments. “2025 could be a good year for crypto policy,” wrote senior Bloomberg policy analyst Nathan Dean on May 23.
How safe is Coinbase? ›
Because it is US-based, publicly-traded, and is on the cutting edge of crypto security solutions, Coinbase consistently ranks as the safest crypto exchange in the world. That's why it's trusted by more than 100 million crypto investors.
Is Coinbase a buy or sell? ›
Coinbase stock has received a consensus rating of buy. The average rating score is and is based on 47 buy ratings, 25 hold ratings, and 27 sell ratings. What was the 52-week low for Coinbase stock? The low in the last 52 weeks of Coinbase stock was 45.43.
What is new on Coinbase 2024? ›
Potential Coinbase New Crypto Listings for 2024
PlayDoge ($PLAY) – Potential coinbase lisitng offering over 2,100% in APY to stakers. Sealana ($SEAL) – Trending new meme token on Solana with a fixed presale price. WienerAI ($WAI) – Hot new dog-themed meme coin providing impressive staking rewards.
What is the prediction for Bitcoin cash in 2024? ›
Based on our technical indicators, Bitcoin Cash's 200-day SMA will rise in the next month and will hit $ 390.94 by Jun 29, 2024. Bitcoin Cash's short-term 50-Day SMA is estimated to hit $ 477.21 by Jun 29, 2024.
What is the price prediction for ethereum in 2024? ›
Ethereum Price Prediction October 2024
With a price range spanning from $4500 to $4900 – potentially creating a new all-time high, Ethereum price seems poised to partake in this anticipated surge.
What is the target price for Coinbase? ›
Stock Price Targets
| High | $450.00 |
|---|
| Median | $250.00 |
| Low | $145.00 |
| Average | $256.26 |
| Current Price | $244.20 |
According to the most recent earnings report, total revenue for 2023 reached a whopping $3.1 billion, a nearly 500% increase in just four years at a compound annual growth rate of 41%. If it maintains that current pace, Coinbase's annual revenue could blossom to nearly $100 billion.
