What is coinbase?

 In a short period of time, cryptocurrency has gone from a small, alternative investment to one worth hundreds of billions of dollars collectively. Whether you are looking to invest in crypto or use it as a form of payment, you have likely heard of Coinbase. After all, with tens of millions of users, it’s one of the most popular cryptocurrency exchanges. It’s also one of the easiest ways to buy cryptocurrency which has helped fuel its explosion in popularity.

In a nutshel is a cryptocurrency exchange where you can buy popular coins like Bitcoin, Ethereum and Solana. Not every coin is supported on Coinbase, but there are more than 260 different on the platform. Meanwhile, there are thousands of different cryptocurrencies available worldwide. Still, Coinbase lets you trade the most popular types of crypto, so it works well for most purposes.

This all makes Coinbase an option for new crypto investors to buy and sell their favorite coins. But is Coinbase safe to use? What about the fees? We’ll address these questions and more below.

The  alleging it had illegally operated as an exchange, broker-dealer and clearing agency, and offered and sold unregistered securities. The lawsuit said Coinbase knowingly violated securities laws that are designed to protect investors. The case is expected to move to appeals courts and maybe even the U.S. Supreme Court, if it’s not settled first.

How to use Coinbase: A beginner’s guide

If you’re new to Coinbase and perhaps even cryptocurrency in general, it can all seem overwhelming. Don’t worry, it’s actually quite simple, and we’ll explain how to get started.

How to open a Coinbase account

Opening a Coinbase account is easy. Here’s what Coinbase says you’ll need to create an account:

• Be at least 18 years old
• A government-issued photo ID, such as a driver’s license or state ID
• A computer or smartphone with internet access
• A phone number for SMS verification
• The latest version of your internet browser

If none of this is a problem, you’re ready to create an account. To do so, enter your first and last name, email, state of residence, and create a password. You’ll also have to check the box confirming you are at least 18 years old. The only thing left to do after that is to set a password. Be sure to set a strong, unique password to keep your account safe.

You’ll also want to add a payment method so you can move money into your Coinbase account. U.S. customers can use a variety of methods, including a bank account, debit card, PayPal, Apple Pay, or wire transfer. Note that PayPal is only available to U.S. customers, and you can only use it to buy cryptocurrency or to cash out.

Once you create your account and add a payment method, you are ready to start trading cryptocurrency.

What cryptocurrencies does Coinbase support?

While Coinbase doesn’t support every cryptocurrency, it supports many of the most popular coins. So most people buying and selling on Coinbase won’t run into any issues. However, more advanced traders might find they need to set up an account elsewhere.

There are more than 260 coins available on Coinbase. We won’t list every single one, but here are some of the most popular ones that Coinbase provides access to:

• Bitcoin
• Ethereum
• Cardano
• Solana
• Dogecoin
• Chainlink
• Litecoin
• Tether
• Bitcoin Cash

How much does it cost to trade?

Fees on Coinbase can be a bit complicated, but they depend on your account type, the size of the transaction and the funding source. Several factors can affect the fee you ultimately pay, including your country/region, payment method, and the product.

For smaller transactions, you’ll pay a spread mark-up of 0.5 percent of your trade value plus a flat fee based on the size of your transaction, as follows: