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If you’ve been keeping up with the markets, you’ve probably heard about the rising attention given to bitcoin. If not, keep reading because you are about to be shown how some have made millions of dollars in just months through investing in cryptocurrency, mainly in bitcoin.

If you have heard the rising attention about bitcoin, and are looking into riding the upward trend to make some quick gains, you’ve probably asked yourself what is the best bitcoin exchange platform? I’ve done some research and have come to a conclusion: Coinbase is the answer!

The Best Place To Purchase Bitcoin Safely

In this article I’m going to give a brief overview of Coinbase including the good and bad features, with my ultimate opinion of the company and why I choose them to invest with and buy cryptocurrency.  Keep in mind while you read this article, if at some point you decide to open up an account with Coinbase (which I’m positive you’ll be convinced by the end of the article), you need to click one of the highlighted “Coinbase” word links throughout this page and you will have access to my EXCLUSIVE BONUS for new Coinbase users.  You will get $10 of free Bitcoin after signing up! But you must follow one of the links throughout this article to get the bonus.

What is Cryptocurrency, and what is bitcoin?

Cryptocurrency is the universal term for all types of online currency. Most people have heard of bitcoin as the online currency, but cryptocurrency is referring to bitcoin as well as hundreds of other types of electronic currency. Some other currencies similar to bitcoine are litecoin and ethereum. Both are considered a cryptocurrency.

Do you carry cash in your wallet at all today? If so I’m sure it’s very minimal. Most people carry just their debit and credit cards due to the ease of use and the safety if your wallet is lost.

Due to the rising innovations of technology, people are even purchasing everything online now! Thus came the invention of cryptocurrency.

Bitcoin is the worlds first type of cryptocurrency and was invented by Australian entrepreneur Craig Wright back in 2009. Back then it was more of an idea with some early investors, but now its growing at rapid paces!

Unlike the US Dollar, bitcoin was created and will only issue 21 million coins. Nothing more! The US dollar is being printed millions of times over on a daily basis, and as a result there is a large supply, creating a lower demand. If there were only 21 million us dollars created, do you think it’s value would be much more than it is today? OF COURSE! It would be a rare currency and it’s purchasing power would be much stronger.

Bitcoin had this basic economic principle in mind when created. It is also a means of even exchanging currencies between different countries. It can be bought with any currency, and sold for any currency. For example, I could buy $100 US Dollars of bitcoin today, then sell it for the equivalent value of Euro’s tomorrow.

The nice thing about bitcoine is it is universal, and cannot be regulated by any government entity like the US dollar can and is now days. It is said to be a much safer way to purchase things, and most cryptocurrency exchange platforms require multiple ways of verification to move any type of bitcoin from one account, making it a very secure way to keep your money.

Long story short, I like to think of bitcoin as the same thing as simply having a basic checking account, and never using any cash. You can look on your online banking and see how much cash you have, and thus know how much you have to spend for living expenses, but never actually use a physical paper dollar. Bitcoin is very similar, and is simply an electronic currency with limited supply, making the value of 1 bitcoin today worth over $6,000 US dollars!

Why Coinbase Is The Best Option For Purchasing Bitcoin

There are many platforms that you can open an account, and link it to a basic checking or savings account to purchase bitcoin. Just as there are multiple banks to choose from for your money, there are also multiple platforms online that you can buy and sell bitcoin.

It is similar to having a basic investment account at Fidelity Investments. You can transfer money to it from your banking account, then invest that money into mutual funds with Fidelity. So it is with Bitcoin and Coinbase.

I’ve tried multiple platforms to work with and most of them charge a high transaction fee for each purchase of bitcoin. Coinbase has a low transaction fee of just 1.49% of the purchase. Most platforms like Xapo.com charge a minimum of $5.00 per transaction!

Aside from the low cost of transaction with Coinbase, they not only allow you to purchase Bitcoin, but Litecoin and Ethereum can be purchased as well, which are the next two highly recognized cryptocurrencies. Most other platforms only allow Bitcoin.

You know you’re using a good platform when you see news headlines showing that large companies like Fidelity Investments are partnering with Coinbase to extend their investment options to cryptocurrency also. That alone sold me and gave me confidence in who I was using. Be aware, there are many fraudulent companies out there. Rest assured that if the top dogs are using them, your money is safe.

The last thing I’d like to mention about Coinbase is their forms of purchasing bitcoin. Most platforms require you link to a bank account using your account and routing number to sync up with them. And the hard thing with that is not all platforms work with every bank or credit union, only a select few. This normally takes days to set up and can be a hassle if you’re wanting to take advantage of the rising trend. Not with Coinbase!

With Coinbase, you have multiple options to purchase bitcoin. You can link your checking account which like other platforms takes a few days, but you can also instantly use your debit card to purchase cryptocurrency within minutes! Not many platforms allow this yet, but Coinbase is ahead of the game and knows what consumers want.

==> Convinced already?? Follow this link to sign up for Coinbase and get $10 of free Bitcoin!

The Good & The Bad

The Good:

  • Option to purchase any of the 3 top cryptocurrencies
  • Multiple options to purchase bitcoin
  • Used by some of the top investment banks
  • Been featured in Bloomberg, The Wall Street Journal, New York Times, and Time Magazine
  • Live market prices of each cryptocurrency
  • Ability to transfer your bitcoin to other cryptocurrency exchange platforms
  • Lowest fees
  • Quick and easy setup
  • Secure process of verification for new accounts
  • Over $20 Billion in digital currency exchanged, 32 countries supported & 11.7 million customers served
  • Free and easy to use smart phone and tablet app

The Bad:

  • Only have 3 choices of cryptocurrency, where some exchanges may offer all cryptocurrencies (however that may be riskier since the new cryptocurrencies have not yet been well-established and recognized)
  • Some may want to invest large amounts each week, Coinbase has limits on investment amounts to help protect against possible fraud. This can be a good or bad thing depending on the investor. As you establish your relationship with Coinbase, these amounts can be increased.
  • As with most platforms, if you want to link bank account directly it will take a few days to initially sync the accounts.

Who is Coinbase for?

Coinbase is definatley for anyone just getting started out in cryptocurrency and want to test the waters. However it is not limited to new cryptocurrency investors, it also works perfectly well for those that have been investing in cryptocurrency since the beginning! After all, Coinbase has been there since the beginning as well.

If you want a convenient and trustworthy platform to use for buying cryptocurrency, Coinbase is the best bet and has no minimum investments! Start out with as little as $5 if you like and test the waters.

My Opinion on Coinbase

When I make a decision, I am thorough in my research. I’ve come to the conclusion that Coinbase is the simplest platform to use whether you are a beginner or an expert in cryptocurrency. Having said that, they aren’t the only platform out there. The nice thing is, you can easily transfer your bitcoin from Coinbase to any other platform out there within minutes if you find a better option for your objective. You can’t go wrong using Coinbase.

Coinbase Quick Review & Summary


Website: www.coinbase.com

Who is Coinbase intended for: Everyone
Coinbase Price: Free account, as low as 1.49% transaction fee
Overall Ranking out of ten: 9.5/10

When all is said and done, there are multiple options. But to save you the headache of finding out what works best for you, start out with Coinbase to get your feet wet, then over time you will become familiar with the market and who other potential options may be.

Who do you use to purchase Cryptocurrency and why? Post your comments below, I love to hear opinions and feedback!

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6 Replies to “Coinbase Review- Why They’re The Best Bitcoin Exchange Platform

  1. Awesome break down on coin base.

    Being an investor I have been watching the whole bit coin craze closely the last few years. But have yet to actually hop on and put some money into it. I think I might have to start as the past few months it has been very volatile with a lot of opportunities to make a quick buck. If I do I will definitely consider using coin base as my exchange platform.

    Cheers!

  2. Great article. In my opinion currencies like dollar, euro and even yuan will collapse in the next 10 -20 years and cryptocurrencies will dominate, in simple words it’s our future and that’s why it’s important to understand them. In order to buy bitcoin I need an reliable platform and coinbase might be exactly what i was looking for. Thanks for sharing.

  3. I honestly have not heard of the platform before. But, I see this as the viable option that you bring out for me as a beginner personally in bit coin. And the fact that you can take buns out and move them around it is great. Seems like a great idea from the beginning of the invention of the crypto currency

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