Coinbase Review

Coinbase Review 2022: Features, Security, Pros & Cons

In this Coinbase Review for 2022, we take a dive deep into the popular crypto platform. We analyze the variety of features and apps the platform has to offer, plus take a look at Coinbases’ security, fees, support, pros and cons.

Coinbase’s design is simple and user-friendly, making it a popular choice for the new crypto investor. Coinbase’s popularity continues growing and is available in over 100 countries, with over 35 million users buying, selling, and trading cryptocurrencies.

So, let’s dive into this Coinbase Review to help you work out whether Coinbase is the right crypto platform for you.

Coinbase Review: How to Use Coinbase?

Coinbase Referral Code

Coinbase Pros and Cons

  • Beginner Friendly
  • 100+ Supported Tokens
  • Learn & Earn Crypto
  • Buy Crypto with Debit & Credit Card
  • Free PayPal Withdrawals
  • FDIC insured
  • Support
  • Unclear Fee Structure
  • Limited Staking Options
  • Downtime During Price Spikes
  • Centralized

What is Coinbase? is a secure online trading platform for buying, selling, transferring, and storing digital currency, such as Bitcoin. The platform is ideal for new users getting into cryptocurrency, purchasing their first Bitcoin with the likes of a credit/debit card, or via bank transfer. It is easy to use, convenient and has easy onboarding.

Coinbase Features 2021

Coinbase Products

Coinbase essentially is built up of 4 individual products & platforms, plus their own USD Coin. These are;, Coinbase Pro, Coinbase Earn, and the Coinbase Wallet.

Coinbase Pro

Coinbase Pro is a trading platform aimed at more experienced traders. Traders can exchange a wider range of assets with more advanced order types using order books, charts, and graphs. One of the advantages of trading on Coinbase Pro, compared to Coinbase, is their lower trading fees. To reduce your trading fees even further, it’s worth checking out the Binance Exchange.

Coinbase announced in June 2022 that it was phasing out its Coinbase Pro version. The company said the move is to ensure that its users leverage its unified services. Coinbase said;

“Later this year, we’ll begin sunsetting Coinbase Pro to migrate all advanced trading into one unified Coinbase account, bringing customers access to popular features like staking, Borrow, dapp wallet, and Coinbase Card from a single platform balance.”

If you would like to find out more information, check out our Coinbase Pro Review & Tutorial.

Log into Coinbase Pro

Coinbase Wallet & DApp Browser

The Coinbase Wallet is a standalone app allowing users to store their crypto and explore the decentralized web with a Dapp browser.  This wallet is not to be confused with the Coinbase app, which is also available on

It’s not recommended to keep your crypto on Coinbase or their Coinbase Pro exchange long-term, as they are centralised exchanges, and you are entrusting a third party to look after your crypto. In the world of crypto, this is a big no-no, and there is a saying, “not your keys, not your crypto”.

With the Coinbase Wallet, you have access to your private keys, so you can safely store your crypto assets and have full control. However, if you would prefer further security with your crypto stored offline, it’s worth looking into a hardware wallet such as a Ledger Nano S, Nano X or Trezor Model T.

If you would like to find out more information, check out our Coinbase Wallet Review.

Coinbase Wallet & DApp browser Tutorial

Coinbase Earn

Coinbase also gives users the opportunity to earn crypto with their Coinbase Earn. Their Earn feature is integrated into and provides its users with an incentive to earn free cryptocurrency while learning about crypto in a simple and engaging way.

Coinbase Earn: How to earn free Crypto

Coinbase Referral Code: £5 Bitcoin Sign-up Bonus

Coinbase offers new users a £5 Bitcoin sign-up bonus when they make their first trade. For more information on Coinbase referral code or sign-up bonus, click here.

Coinbase Referral CodeSign-up with our Exclusive Coinbase Referral Link
Coinbase Sign-up Bonus Earn £5 worth of Bitcoin after your first trade on Coinbase
Referral TermsCoinbase Referral Terms
Bonus Last ValidatedSeptember 2022
Coinbase Referral Code

Coinbase Supported Cryptocurrencies

The number of supported cryptocurrencies has exploded on the platform in the last year. You will now find the majority of the most popular cryptocurrencies such as Aave, Bitcoin, Cardano, ChainLink, Compound, DAI, EOS, Ethereum, Ripple, Stellar Lumens, Tezos, USDC, and Wrapped Bitcoin available on Coinbase.

You can check out the full list of supported cryptocurrencies here.

what cryptocurrencies does Coinbase support

Coinbase Payment Methods

With Coinbase, the payment methods available will all depend on your location and whether you are buying or withdrawing.

In the UK, these include Faster Payment Services, SEPA Transfers, 3D Secure Payments, PayPal for withdrawals only, and instant card withdrawals. You can check out a full list of payment methods for Coinbase UK users here.

Coinbase US users can also make smaller investments with Paypal, Apple Pay and Google Pay. If you’re from the US and view a full list with transfer times, check out the table below.

Coinbase no longer allows users to link their credit cards, which has been restricted to debit cards only. However, if you already have a credit card, you may still be able to use this, but your bank may charge additional fees for these purchases. Therefore it’s worth switching to a debit card or bank account. 

Coinbase Payment Methods

Coinbase Fees

The fees that you pay with Coinbase will depend on the method of payment you choose and your location.

In the past, Coinbase were clear in disclosing their fee structure which they listed by country, payment method, etc. However, more recently have replaced this on their fee page with the following statement;

“Coinbase may charge fees when you buy, sell, or convert cryptocurrencies. Fees are calculated at the time you place your order and may be determined by a combination of factors including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. The applicable fees will be listed in the trade preview screen which will be surfaced before you submit your transaction, and may differ for similar transactions.”

Generally speaking, the most expensive way to buy your crypto on the Coinbase exchange is via credit/debit card payments with a fee of around 3.99%. This isn’t a way that I personally recommend buying your crypto due to the high fees associated. Although it may be one of the most convenient, you are paying for this convenience.

Other types of buy and sell orders with Coinbase incur a fee of between 1.49% and 2.99%. This doesn’t seem huge, but if you compare this to Binance Exchange’s 0.1% or even their own Coinbase Pro platform at 0.5%, you are definitely paying over the odds here.

As well as charging fees for instant buys and with payment via bank transfers, Coinbase also charges a spread of about 0.50% for both buy and sell orders. However, the actual spread may be higher or lower due to market fluctuations.

If you’re serious about getting the best price when trading. I would recommend checking out other exchanges to reduce trading fees, such as Binance Exchange (save up to 45%) or FTX (save 5%).

Coinbase Fees UK

The fees that you will pay with Coinbase exchange will differ depending on your location. Previously you could find a full list of fees on their site by location. However, these have since been removed. Below is their previous list of fees, which you may be able to use as a guide;

What are the fees for Coinbase UK

Coinbase Fees US

The fees that you will pay with Coinbase exchange will differ depending on your location. Previously you could find a full list of fees on their site by location. However, these have since been removed. Below is their previous list of fees, which you may be able to use as a guide;

What are the fees for Coinbase in the US

Coinbase Support

Coinbase customer support is one of their biggest downfalls. They have been heavily criticized on the likes of Trustpilot, giving them a rating of “Bad”. Although I have never personally experienced any issues, I can see how frustrating it can be if something goes wrong or you need help.

During crypto bull markets, Coinbase will have a surge of newbies signing up, and with more new users comes more complaints and customers needing help. They have become a victim of their own success and hopefully will be ready for the next Crypto bull market.

Coinbase Trustpilot Score

Is Coinbase Safe?

To use the Coinbase exchange, you access the site with a username and password plus any form of 2-factor authentication you have associated. Coinbase is a centralized exchange that controls your crypto, with no access to your private keys. This means you are entrusting a third party to look after and secure your crypto assets.

Although Coinbase has not reportedly suffered an attack, there have been reports of Coinbase freezing user accounts. Therefore, we recommend not keeping your crypto on an exchange. When you have finished trading, move your crypto to the safety of a wallet, such as a Ledger or a Trezor.

Is Coinbase Safe
Ledger Nano X - The secure hardware wallet

Verdict: Should you use Coinbase?

Rating: 4 out of 5.

Coinbase was the first exchange we used to buy Bitcoin and the exchange we would recommend to someone new to crypto. It´s simple and clear to use, and with the likes of Coinbase Earn, it continues to grow and attract new users.

Compared to the likes of Binance and FTX exchanges, the fees for buying and selling are expensive. These fees can really add up, so I would try their more advanced Coinbase Pro exchange and reduce these fees. Again these fees are still very high, and you can do better.

Although we rarely use their Web3 wallet, it’s a great wallet to have. However, if you´re looking to invest long-term, check out a hardware wallet like a Ledger or Trezor.

Here are some of our articles you may also find helpful;

*After you make a crypto purchase, BTC will be added to your portfolio. Limited time offer. Offer available to new users only. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using the different contact information. Coinbase may update the conditions for eligibility at any time.

“Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.” 

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22 Responses

  1. I need help…I have $ sitting in Coinbase that I can’t transfer out or buy more with what on earth do I do

      1. How can I close my coinbase account I still have a little fun I can’t do anything with them I would like to donate them somewhere

  2. I’m new to all of this but very interested to learn how it all works an how safe it is just recently come across Coinbase after watching some YouTube videos, I’m a beginner I’ve invested a tiny sum into Bitcoin, just to see how it goes, I’m on level 1, an now it’s asking for me to go into level 2 to unlock more features I should imagine right, ? What do I do ?

    1. Coinbase is well trusted and has been around for a long time. As it states, for further features you’ll need to verify yourself. This usually includes personal details and photo ID, if you do not feel comfortable with this, you can try another exchange or wallet but the majority of these will require verification (KYC).

  3. I have a question I saw your video about the xrp flare drop. I have xrp in
    binance us but I got them after the drop date in Dec I got them in January will still I still get them? Also because of their sec issue my xrp is frozen until it gets cleared up. Can you help please. Thanks 😊

    1. If you didn’t hold XRP during the snapshot, you won’t receive any Flare tokens, unfortunately.

      That does sound very frustrating, can you not even withdraw your XRP tokens from Coinbase?

  4. I earn interests for holding bitcoins on the AxisOption wallet platform. They are the best platform that provide interest for holders.

    1. Hey Kelvin,

      Honestly, I’ve never heard of AxisOption wallet, but that doesn’t mean anything. I would recommend looking at platforms such as BlockFi, Celsius Network & Nexo. I have investments in all 3 platforms, I would try and spread the risk and invest in more than one platform

      I have videos and posts for all 3 platforms

  5. Hi –

    I am trying to put together an exit strategy in case BTC goes into free fall. I can see my BTC balance in my Coinbase Wallet and that in turn is linked to my (verified) coinbase account. I’ve just installed coinbase pro which also doesn’t show my balance. I am obviously doing something wrong. Can you please help me with this?


  6. Help
    I have a Coinbase account
    I deposited som money but
    – they limit my deposit from my checking to only 1000 a day
    – I cannot trader to pro or BlockFi saying don’t have funds
    Please help
    Thank you

    1. I’m sorry you will need to contact Coinbase. I know that sometimes they restrict accounts, especially when paying by debit or credit card for anti fraudulent reasons.

  7. Hello Louise,

    After being extremely dubious I have done some research into crypto. I felt Coinbase would be the most secure exchange to buy.
    I have a Coinbase account and a Coinbase wallet and recently purchased a small amount of crypto to test the water. For security I don’t want to hold them with the exchange , I am awaiting a ledger nano x until this arrives I feel it safer in my Coinbase wallet.
    Here is my issue I am unable to transfer out of the exchange due to account restrictions. I have sent them photo ID which has been approved and verified to level 2. I have emailed the support team for help several times and all they tell me is my account status is under review, they can’t guarantee a change of account status. They have confirmed they have temporarily suspended me from sending crypto off the platform to protect against loss. If I would like to send crypto from Coinbase I must first convert it to fiat to my verified bank. I am not sure why these restrictions are in place, all Im looking to do is hold crypto in a safe place. I feel open to fraud holding my funds on the exchange & does not give me confidence to use the exchange going forward. I did have every faith in this company, I am also a share holder with 100 shares to my name.
    Louise, Do you have any suggestions.

    1. Unfortunately, you will need to go to the exchange as they do often put these restrictions in place. Coinbase is insured for certain amounts if they are for example hacked and holding money short term on an exchange whilst you await your Ledger shouldn’t be too much of an issue.

  8. Hello Beautiful.
    i’m new to trading and send my crypto to my cell phone number. How do I retrieve my crypto?

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