Every Friday I share one of my favourite finds of the week — a website, tool or an app that has impressed me.
My Friday Favourite this week is Coinbase – Buy or Sell Cryptocurrency.
What is it?
Coinbase is a website and app that allows you to securely buy or sell cryptocurrency such as Bitcoin, Ethereum and more.
How much does it cost?
Coinbase charges a fee of 1.49% for each cryptocurrency purchase or sale. This fee goes up to 3.99% for trades made with a credit card.
Buy or Sell Cryptocurrency
Cryptocurrency has now become a mainstream method of virtual currency. Billions of people are using cryptocurrencies like Bitcoin to perform financial transactions.
I recently wrote about the evolution of cryptocurrency accounts, and now using apps such as BlockFi – you can earn interest on your cryptocurrency!
When it comes to a platform to buy or sell a cryptocurrency, I’ve been using Coinbase.
Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more
They are the worlds largest Bitcoin exchange and Broker.
Coinbase, an American company, describes their company mission as to “create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency.”
It is different from traditional cryptocurrency exchanges because it allows you to buy crypto using “traditional” money such as Euro, US Dollars or Pound Sterling.
Coinbase is an exchange, but it does offer you a built-in wallet, so, you can keep your crypto on the Coinbase platform (personally, I use Coinbase to make purchases and then move my Bitcoin to BlockFi where it can accrue interest).
The Coinbase platform is a legitimate one and only offers trusted cryptos.
I’ve found that the app has a very easy to use interface, and is great for newcomers to cryptocurrency.
Unlike some exchanges, there is a lack of anonymity in using Coinbase. Depending on your outlook towards trust and privacy, you may see this as a plus or a minus.
Coinbase is also considered a slightly more expensive way of buying or selling cryptocurrencies, compared to some markets.
However, given the ease-of-use, and the high-level of trust in Coinbase, it remains my recommendation for anybody who is starting out with cryptocurrency or values reliability above all else.