What is coinbase and is it safe to use?
    Posted on 10/03/2022

Coinbase is basically a very popular cryptocurrency exchanger. Investors can exchange many types of coins here such as bitcoin. However not all coins are available in it, but still 120 types of crypto currency are there.


So on thousands of other crypto currencies are lying worldwide. Mean while coinbase is always more likely to get chosen from the investors in the exchanging of money.


The secret behind coinbase success is the amount of pros and cons it has – here are only 2 cons however pros are leading to almost 6.


Let’s see some of these!


Pros of coinbase


·         Coinbase is also popular because it is eligible for everyone; from beginner to pro it will always have the hype.


·         Coinbase doesn’t only include money exchanges and other bit coin stuff but it has very helpful tools for education as well.


·         A high amount of over 120 crypto currencies are optioned, all of them are the most usual to get used, so players are more likely to have the coin they need.


·         One thing which is a must in every coin exchanger is the security. Investors are making sure to have the best security so they choose coinbase. It has a 100% high security overall.


·         Funding account is almost 0 % in coinbase, it funds the least compared to other platforms.


 


Cons of coinbase


·         Sometimes high fees are taken in exchanges.


·         You cannot control private keys in coinbase.


What cryptocurrencies does Coinbase support?


Coin base consists of all relevant and usual crypto currencies over 120 types, but still some currencies are not added. Moreover the experienced investors may make more accounts on other crypto website.


These currencies are the most popular and the most relevant in coin base.


1.       Litecoin


2.       Tether


3.       Dogecoin


4.       Solana


5.       Cardano


6.       Ethereum


7.       Bitcoin


8.       Chainlink


For more currencies you can check coinbase by yourself.


Is Coinbase safe?


The one question which always comes first in mind while choosing the best crypto platform is “Is it safe”.


Thinking that is pretty usual, mainly when your first investment has a nice expense.


No worry, Coinbase is 100% secured platform and has private measures such as authentication. It also prevents from impervious attacks. Through some fast research it seems that many coinbase users got their account drained in one night. The experts claimed that it may be happened because of SIM swap.


It seems scary, but that doesn’t needs to stop you from using coin base.


After that incident coinbase producer have made their security even higher, now they have different measures that is almost impossible for the hackers to break. To prevent from these you can take hardware wallet as a choice also. make sure that walled is going to be very convenient.


Who Is Coinbase Best For?


Coin base has multiple reasons for everyone to join , So on the most amazing feature of it is reliable for a beginner to an experienced one . The other educational tools can help both student and investors as well. The security is high so you can even prefer coinbase if you want to be millionaire in future.


If you’re a beginner then I highly recommend you to go with coinbase, I’m myself an experienced investor and this will be my most important guide to a beginner.


As for the people who want to start investing and invest extra cash that can have a long-term investment then – don’t forget that coinbase makes this process less complicated for the investor to understand.


After having one try on coinbase I am damn sure that you’ll never change to any other platform.

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