Coinbase is a San Francisco-based cryptocurrency exchange platform founded in 2012 by computer engineer Brian Armstrong and former Goldman Sachs trader Fred Ehrsam. Initially created for Bitcoin trading, it has since expanded to support hundreds of digital assets while offering services like spending, trading, and earning opportunities. As the largest cryptocurrency exchange in the U.S., Coinbase achieved a significant milestone by listing on NASDAQ in April 2021.
Supported Countries for KYC and Trading on Coinbase
Currently, Coinbase supports token trading in 32 countries, primarily serving North America and Europe:
North America:
- United States (full trading)
- Canada (buy-only)
Europe:
- Germany
- Denmark
- Lithuania
- Portugal
- Estonia
- Sweden
- Finland
- Greece
- Hungary
- Spain
- Italy
- Jersey Island
- Liechtenstein
- Cyprus
- Stuttgart
- Netherlands
- Norway
- Switzerland
- France
- United Kingdom
Other Regions:
- Australia (buy-only)
- Singapore (Asia)
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Fee Structure
Coinbase operates through its GDAX platform for order book trading. Key charges include:
- Trading fees: 0.25%–1% spread per transaction
- Fiat conversions: Up to 3.99% for crypto-to-fiat withdrawals
- Coinbase Card: 2.49% fee for non-USDC transactions
Why Choose Coinbase?
- Diverse Offerings: Trade 100+ cryptocurrencies with high liquidity
- User-Friendly: Intuitive interface ideal for beginners
- Earning Features: Staking rewards and "learn-to-earn" programs
- Global Access: Available in major markets with multiple payment options
Limitations:
- Higher fees on the basic platform versus Coinbase Pro
- Limited sell functionality in Canada/Australia
FAQ Section
Q1: How long does Coinbase verification take?
A: Typically 2–5 minutes for basic access; extended verification may require additional documents.
Q2: Can I use Coinbase without KYC?
A: No. Full functionality requires identity verification per regulatory requirements.
Q3: What’s the minimum trade amount?
A: Varies by cryptocurrency—some start as low as $2 in fiat value.
Q4: Is Coinbase safe for long-term holdings?
A: Yes, with 98% of assets stored offline in cold storage and FDIC insurance for USD balances.
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Final Thoughts
Coinbase simplifies crypto entry with robust security and educational resources. While fees are higher than specialized platforms, its regulatory compliance makes it a trusted choice for new investors. Always review localized restrictions before trading.