Coinbase Exchange and Wallet
Coinbase is US-based financial service company that specializes in cryptocurrencies that are continuously expanding at the moment. The birth of Coinbase exchange came from 2 geniuses, Brian Armstrong and Fred Ehrsam in June 2012. It has been supporting Coinbase customers to exchange, purchase and sell Bitcoins since 2012 using Bank transfer and by the passage of the time it expanded the arms to accept debit cards, the credit cards for cryptocurrency. Coinbase has been also outsourcing its API to the developers and shopping carts to integrate in their website to accept payment in crypto. It has been allowing almost 32 nations to exchange and buy coins on their platform and apart from this it also supports the wallet service in about 190 countries making it one of the most used and biggest platform cryptocurrencies.
Despite being such a big organisation its not safe from the deadly hackers and scammers as many customers have reported their lost coins from the exchange. Few of them have also reported regarding the self conversion of coins into other altcoin. Coinbase has been fighting hard since then to overcome these breaching issues and have successfully attained victory over multiple issues in the past and is trying to develop its security and privacy at its best for the better user experience.
Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential
Coinbase Pro: What Is It?
GDAX is now Coinbase Pro
Coinbase has left no stones turned to make itself rank first among the users by introducing the trading platform which is more sophisticated and with lower trading fees comparatively. Earlier, it was known as GDAX (Global Digital Asset Exchange), now known as Coinbase Pro which is designed for the pro traders who have a deep knowledge of order book and trading history. Coinbase Pro provides traders access to real-time order books and advanced order types. Coinbase Pro is typically like the Stock Broker exchange like Interactive Brokers. Any time rebranding like this is the perfect time for the brand new UI(User Interface) design. At the moment the new Coinbase pro UI has the same basic structure that we used to see on GDAX, we have the Order form, Order Book, price chart, open orders, and trade history. For all of this section, the functionality and its positioning on GDAX appear to be the same.
Now those were just the similarities, let me point out the differences from Gdax to Coinbase Pro.
The first couple of things are just minor but these jumped outright to me as the balances are now broken out in a different section called Wallet Balance which used to be in order form section which immediately was little confusing, so breaking this out was quite a move from the Coinbase UI developers. Now down at the open order section, they are now forcing the order either it’s an open order or filled order which used to only happen when your screen was smaller but now it fits with all the type of screen no matter what device you are using. Now coming to the chart section, In an announcement from the Coinbase, they said that the chart interface has been improved, however, there seems to be very little or no difference apart from zoom in and zoom out the feature that they have introduced helping in visualizing the data to its depth.
Coinbase: Wallet and ERC-20 Token
ERC-20 token allows for a path to the safe recovery of ERC-20 assets that are in advertently sent by customers to GDAX. Now jumping to the my order tab at the top right corner of the screen, which brakes down the open order and filled orders. This is also the case with wallets tab, it gives us the more specific details of your holding on the exchange with its absolute and individual value. Coinbase will soon launch their Decentralized platform as they have already acquired Paradex which runs on ECR20.
Coinbase has even announced that it will soon be coming on a Global scale and then it will be for the US Citizens.
Platforms Supporting Coinbase & Coinbase Pro
There are multiple types of platform which is supporting Coinbase functionality for its Customers like-
Windows (7, 8.1, 10)
Coinbase & Coinbase Pro Supported Window (7, 8.1, 10)
Coinbase & Coinbase Pro Support Windows Vista
Coinbase & Coinbase Pro Supported Machintosh
Linux Operating System
Coinbase & Coinbase Pro Supported Linux Operating System
Coinbase & Coinbase Pro Supported Ubonto
Coinbase & Coinbase Pro Supported Android Platform
Coinbase & It's Conclusion
Advantages of Coinbase
Easy to use
Higher daily Limits
Dedicated Coinbase customer support team
Helps in an instant purchase
Multi-language support and service
Disadvantages of Coinbase
Difficult to understand Coinbase Pro
Higher miners fee
Long waiting time for customer support help
Lower buy limits during the initial days
Tracks how and when you use your assets
Bank purchase may take a time span of 7 days
Coinbase and Its Customer Support and Services
Coinbase is the only exchange which has Coinbase customer service number updated on Google. However, In case of any trouble with your account on the platform you can always contact Coinbase customer support and service team to resolve your issues. Get in touch with the coinbase customer service at +1 (888) 908–7930, OR you can also contact them via email buy writing on firstname.lastname@example.org.
Well above mentioned text are for all the users who are not pretty deep into the trading history and its understandings.
FAQs for Coinbase
How to create account on Coinbase?
2FA recovery issues
I lost my password.
I lost my phone, How do I get my 2FA?
How do I purchase and sell BTC?
Why verification takes so long?
Why my limits are low?
How do I increase my limits ?
How do I purchase Bitcoin instantly?
Why is there a miners fee?
Is Coinbase regulated ?
Can You Bypass Coinbase ID Verification?
NO, you cannot bypass verification as it helps Coinbase to keep the records and it allows you to purchase Bitcoin.
Can You Make Money on Coinbase?
Yes, you can earn money through referral only, if you invite a friend to Coinbase and they buy more than $100 worth of crypto, you can earn $10
Does Coinbase Accept Credit Cards?
Untill 2017, Coinbase used to accept credit card but now they only support Debit card for any kind of purchase.
What are the Coins that Coinbase Support?
Coinbase supports some main coins like: Bitcoin, Ethereum, Litecoin, Ripple.
It also supports some other coins like BAT, BCH, BSV, DAI, DASH, EOS, ETC, KNC, LINK, OXT, REP, USDC, XLM, XTZ, ZEC, ZRX.
Does Coinbase Charge to Convert Between altcoins?
YES, Coinbase charges you for the conversion of altcoins depending upon the volume.
How does Coinbase make money?
Coinbase does business with the fee they charge you while you make some trading on the platform.
Do you need a separate Wallet for Coinbase?
NO, you do not need a separate wallet for coinbase as they provide you with their own inbuilt wallet. Though you are always suggested to have your own hardware wallet to maintain extra layer of security for your assets.
Can I purchase Bitcoin on Coinbase using PayPal ?
As of November 2019, Coinbase has started to accept paypal just as a way to withdraw money from the sale of Bitcoin and other altcoins on the platform. You still cannot use PayPal to buy crypto though.
Why my funds are on hold on Coinbase?
Sometimes system gets overloaded with requests and funds can get locked up because of the huge trading activity. Unfortunately, there is not much you can do about it except wait. You can try calling customer service, but in most cases they will tell you the holds are automatically flagged by bots and there is nothing they can do about it.
How long you will have to wait for your funds to be released is also inconsistent. Some people have waited months. If you aren’t sure you can afford to have your funds held that long, we suggest you use a credit card and pay the extra fees for instant purchases.
For withdrawals of dollars, there is not much choice. You may have your funds put on hold and you may just have to wait.
Why I am not able to verify my identity on Coinbase?
Coinbase is based in the US and they must abide by KYC/AML laws.
KYC & AML On Coinbase:
Know Your Customer (KYC) and Anti Money Laundering (AML) laws require businesses to verify the identity of their customers. These laws are in place to prevent money laundering or other criminal activities from occurring.
- Sometimes the customers may come across trouble while the verification process due to multiple factors. First of all the picture of their Drivers liscence or other document may not be readable or clear enough.
- Second, the system of coinbase might not be able to verify the person’s identity with the face of the person.
- Third, the server of the coinbase might be too involved to verify your identification because of immense customer traffic on the website as it happened in 2017.
How safe it is to link my bank account to Coinbase?
Coinbase is a regulated company and holds licenses in all the districts of its operation.
It is backed by many major US investors which is not a scam.
So, it’s absolutely safe to link your bank account on Coinbase. But this does not gives you the absolute authority to store your assests on Coinbase as it could be vulnerable. In our suggestion, for storing your hard earned assests, hardware wallets are the safest.
What is the basic Coinbase network fee?
The Coinbase network fee is not actually a fee charged by Coinbase. The network fee is the fee that blockchain is charging you to send your coins since blockchain is the technology backing up all the transfers made.
For instance, if you are sending Bitcoins to yourself on any other exchange from Coinbase, the blockchain will charge Coinbase a fee to send the coins, since it is the sender who pays all the fees. When Coinbase charges you a network fee, they are just passing on the fee of the blockchain to you so you can pay them back.
The Coinbase network fee are not too high and it varies upon the volume of your transaction.
Who is the CEO of Coinbase?
Brian Armstrong is the CEO of Coinbase.
How do I contact Coinbase directly?
You always have option to contact any member from the support team to assist you with your queries and difficulties. The Phone Support team has its own limitations as they will not be able to assist you anything related to your funds transfer and receiving. But the Support team members can always help you with the buy and sell of Bitcoin steps and they will also help you in case id your get stuck while creating an account or understand the user interface of the applications.
Well, if you have sent the assets to wrong wallet or any issues related to finance will be dealt over the email support as you will be given with a request ticket number for future references.
If you believe your Coinbase account has been compromised, please call on coinbase toll-free number for help. For all other inquiries, you can use the above form to contact Coinbase Phone Support.