Investing of all kinds can be daunting for anyone, especially those with little knowledge or experience. The investment landscape is constantly evolving and it can be challenging to keep up with new developments.
When it comes to investing in cryptocurrency, Coinbase is a platform you can leverage to learn how to manage a crypto portfolio. While it is primarily known as a global cryptocurrency exchange, it has a wealth of other features to explore all the different ways to manage crypto.
Let’s explore how Coinbase can help you manage your crypto.
1. Trading tools
The platform is designed for both experienced traders and beginners. Its interface is intended to be intuitive for all. If you’re an experienced investor, the platform’s ‘Advanced Trade’ feature provides tools such as technical analysis, real-time order books and charting. Each of these features can help you get real time information about the crypto market.
The Coinbase user experience can be flipped between standard and Advanced trade depending on your preferences and knowledge. There is no need to change platforms to access advanced features via Coinbase.
2. Wide range of crypto options
The cryptocurrency world is vast. Coinbase offers access to 240 different cryptocurrencies, providing a number of options similar to the rest of the digital asset platform market. Coinbase offers established cryptocurrencies such as Bitcoin and Ethereum but also offers emerging tokens and rare coins.
Significantly, new cryptocurrencies are added frequently, allowing you to adjust your strategies and adapt based on new developments as you wish.
3. Security and Accessibility
Coinbase employs robust encryption measures and multi-factor authentication to enhance security measures. Besides, Coinbase was voted as the most trusted crypto exchange in a 2024 Qualtrics survey conducted in the UK.
Also, Coinbase holds digital assets on a 1:1 basis. This means funds are not repurposed and Coinbase does not take any action unless instructed to the accountholder.
4. On-the-go access
Coinbase’s mobile app allows you to stay updated with real-time prices, track your portfolio and make trades wherever and whenever you have internet access.
Plus, the app offers seamless integration with Coinbase’s platform, so you’ll always have a smooth user experience whether on your computer or mobile device. Users can set up their own price alerts to stay apprised of market developments.
5. Smooth Payments
Coinbase’s platform is intended to make the payment process simple, allowing for free GBP deposits and withdrawals via bank transfer. Processing times for withdrawals take three working days at most.
Payments can be almost instantaneous with a 3D Secure Card. PayPal, a Faster Payments Transfer or a SEPA Transfer can take a day.
6. The Coinbase Wallet
The Coinbase Wallet is an all-in-one storage solution for digital assets, which is intended to be user-friendly. It’s self-custody too, meaning users can store and secure cryptocurrencies and non-fungible tokens (NFTs) assets. The Coinbase Wallet can also be used to access “decentralized finance” (DeFi) products to lend or borrow crypto and swap assets on decentralised exchanges.
The Coinbase Wallet has broad compatibility with many tokens and applications, providing access to the wide world of crypto and DeFi ecosystems. The wallet is intended to be used by users of all experience levels.
7. Coinbase Learn
To be more informed, reading around the subject and learning new ideas as often as possible is very helpful. Coinbase has Coinbase Learn, which is a wealth of resources for you and investors of any level to read and improve crypto understanding. The online library has beginner guides and market updates but also offers practical tips and insights which can enhance your knowledge of the digital asset landscape.
More specifically, the interactive quizzes and tutorials help users to understand cryptocurrencies and strategies in an engaging way. All educational materials are, importantly, updated regularly to ensure they remain relevant in this ever-evolving, quick-paced market.
Visit Coinbase Learn here.
8. Membership perks
Coinbase One is a premium subscription-based service that offers a number of benefits. For instance, subscribers pay zero trading fees on transactions up to £10,000 a month (although members may still have spread included in their quoted prices). Subscribers also receive access to a dedicated support team and even pre-filled tax forms, to assist with HMRC self-assessment submissions, which helps address evolving rules surrounding taxes.
Finally, subscribers have access to a priority support feature, which is intended to allow for quick resolution to any technical issue.
9. Constant innovation
Coinbase may be an established name in the cryptocurrency market, but that doesn’t mean it doesn’t look to improve and enhance its offering.
Recent innovations include “Base”. Base is a Layer 2 network built on Ethereum to enhance transaction speed and ultimately reduce costs. Furthermore, Coinbase has introduced cbBTC - this enables Bitcoin tokenisation leading to improved liquidity through Ethereum-based networks. Base is intended to help stay on the forefront of the market.
10. Transparent fee structure
Coinbase’s competitive fees depend on a number of factors,such as payment method , order size, the user’s location, the asset involved, and market conditions. Coinbase also provides a breakdown of its fees, which if you place simple buy and sell orders, will include a spread. The spread is also included in the exchange rate when converting from one cryptocurrency to another.
The Advanced Trade feature allows users to benefit from direct order book without spreads. Coinbase provides ‘fee previews’, so you can see what you will be charged prior to confirming a trade.
11. Customer support
Coinbase encourages an active community and offers support through live chat, phone assistance, or its extensive help center - meaning you can access the help you need in the way most appropriate for you.
Plus, the company hosts regular webinars, Ask Me Anything sessions, and community forums intended to help users to gain valuable insights and understand the latest platform updates.
Please note: Cryptocurrency remains a volatile and high-risk asset class, which may not be suitable for all investors. Information is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy.
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