Is Coinbase safe for short-term investments?

Is it possible to say that Coinbase is safe? We cannot deny it, cryptocurrency wallets have transformed the way we deal with financial services . It is not surprising that there are several in the market, such as Bitcoin, Ethereum that, separately, enrich their customers. Along these lines, Coinbase is also underway.

 

 
Founded in 2012, the platform already has more than 30 million users , and in the first five years alone it gained a third of customers .

But is it worth trading cryptocurrencies on this platform? In this article we will answer your questions about the reliability of Coinbase. We also list the advantages and disadvantages and how it is perceived in the market.

What is Coinbase? And how it works?

Coinbase is a digital exchange broker where you can trade cryptocurrencies such as Bitcoin, Ethereum , among others. Unfortunately, in some countries they are not allowed as buying and selling, therefore, it is necessary to invest in platforms such as Binance, Oymp Trade, StormGain or p2p for that type of investment.

Coinbase has two prominent products: the exchange broker and a trading platform titled GDAX, both of which are used individually.

What are the pros and cons of Coinbase?

Before knowing if Coinbase is safe, check out some details that make the difference before choosing:

Pros

• Wide variety of cryptocurrencies
• Accepts multiple payment methods and accessible connection to US bank accounts.
• Use transparency and reliability policies
• Allows the use of the Coinbase credit card

Cons

• Not available in all countries
• There is a spending or withdrawal limit
• Higher rates than most platforms

The Coinbase App: The second most popular application in the APP Store

Although Trustpilot's performance rating is negative, the tool's popularity is only increasing. In April, the free app ranked ninth on the US App Store, and the next day it ranked second, according to data from MoneyTimes.

After all, is Coinbase safe?

Yes. We can say that Coinbase is very reliable . Among the main elements that prove the veracity of the information:

• The presence of the HTTPS protocol reaffirms protection against viruses or malicious files that are recurrent on some cryptocurrency platforms.
• Passwords and access codes are hidden in the browser
• Locks are essential when there are questions about transactions. For example, the user can determine a time to make some type of withdrawal or transfer, even after confirmation of the process

While all the benefits show that Coinbase is trustworthy, the Trustpilot site does not have an optimistic view.

In the overall evaluation, the platform score is 1.6 from more than 5000 votes. The majority, which represents 78% of consumers who complained, rated it as “very bad.” 8% “excellent”, 5% “very good”, 5% “bad” and 4% “good” .

How to register at Coinbase?

Did you like the idea of ​​having a Coinbase account? So, from now on, we are going to explain to you step by step so that you can start this process:

1. Access the Coinbase site: https://www.coinbase.com
2. Create your account by providing your personal data that will be used for the identification process. Additionally, create a password with variations of symbols, numbers, and letters to increase the security of your information.
3. Check the confirmation email you received, if it is yourself.
4. Enter your mobile phone number, complete the fields and click “Submit”
5. The code will be sent via SMS, check your cell phone and enter the 7-digit code in the field provided and press “ Send ”. If you do not receive the message, click “ forward text message ” and wait.
6. You will need to confirm your cell phone number and provide identification with a photo, which can be your ID or Passport.

Conclusion

From our information, we can say that Coinbase is safe. In short, we think Coinbase is a great idea because:

• has an explanatory and clear Privacy Policy;
• has HTTP seal on all pages of the site;
• has security systems for your transactions;
• It has a qualifying history since its appearance in 2012, with exponential growth in the number of users;
• offers extra protection elements.

Ready to invest in Coinbase?

After our explanation, is it clearer that Coinbase is trustworthy? Understand that the cryptocurrency platform is one of the best options on the market , in addition to being easy to understand for beginners.

Despite the occasional level of complaints, Coinbase is safe, making it a great trading wallet.

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