Coinbase UK review: Pro, Wallet, Card and Earn

In the following article, we are going to carry out a review of the cryptocurrency exchange Coinbase, how it works, its security, cost structure, extra services (in addition to crypto asset trading), as well as the crypto community reviews and user experience. Read on to find out the answer to the following question: Is Coinbase the best cryptocurrency exchange?

coinbase account review how long

Coinbase: what is it and how does it work?

Coinbase is an American cryptocurrency exchange that allows buying, selling, exchanging, sending, receiving and storing cryptocurrencies (in addition to many other more complex functionalities).

Coinbase is one of the oldest exchanges on the market: it was created in 2012. Nowadays, it is the second largest cryptocurrency exchange in the world, only behind Binance, and is also considered one of the safest exchanges in the world.

Coinbase is also well known for being the first cryptocurrency exchange to go public; investors have been able to get Coinbase shares on the market since April 14, 2021. This, without a doubt, marked a milestone and is a historic date in the cryptocurrency sector in general.

Coinbase in 1 minute: main features

  • 🏆 Regulation: FCA & U.S. Securities and Exchange Commission (SEC)
  • 🔒 Guarantee fund: There is no guarantee fund but offers crime insurance
  • 💼 Financial assets: +200 cryptoassets
  • 💻 Account types: Coinbase and Coinbase Pro
  • 💲Pro fees:
    • Up to $10,000: 0.60% taker fee and 0.40% maker fee
    • From $10,000 to $50,000: 0.40% taker fee and 0.25% maker fee
    • From $50,000 to $100,000: 0.25% taker fee and 0.15% maker fee
    • From $100,000 to $1,000,000: 0.20% taker fee and 0.10% maker fee
  • 💰 Minimum deposit: £50
  • 📈 Platform services:
    • Coinbase Wallet (custody and trading for beginners)
    • Pro (trading for professionals)
    • Institutional (solutions for institutional investors)
    • Coinbase Earn (Staking & lending service)
    • Loan service
    • NFTs Marketplace
    • Coinbase Card (Visa)
    • Commerce (payments with cryptocurrencies)
    • Base (Ethereum's L2)
    • API
    • Guides and articles on cryptocurrencies
    • Airdrops for completing quizzes about cryptocurrencies
  • 📧 Contact:
    • Email
    • Live chat
    • Phone: +44 808 168 4635
  • 🌟Featured product: Coinbase is famous for its service to institutions and advanced crypto traders.

Is Coinbase safe? Regulation

Coinbase is, along with Binance, probably one of the safest cryptocurrency exchanges in the world. In addition, after its IPO, it requires great transparency as per the US SEC regulations, which reinforces the security of the company and the exchange.

Is it reliable? | Is there a deposit guarantee fund?

Coinbase does not have a deposit guarantee fund, but it does offer crime insurance that covers losses from theft (including cybersecurity breaches). Essentially, the FSCS doesn't protect these investments because they are not recognised as a type of investment the FSCS can protect.

In the UK, the cash balances stored with Coinbase are held as E-Money. The E-Money services are regulated by the FCA, and the E-Money in the Coinbase account is issued by CB Payments LTD (an authorised UK company regulated by the FCA).

How many cryptocurrencies does Coinbase have?

At Coinbase, we can find over 200 cryptocurrencies. Coinbase is known for its stringent processes and security checks before listing cryptocurrency on its platform, ensuring a well-curated list of cryptoassets.

Coinbase fees

Let's look at the different types of Coinbase fees, which we should always keep in mind before choosing any platform or exchange.

Trading fees

Coinbase use a maker-taker fee structure for its trading fees. This means that orders that enhance liquidity (maker orders) are charged differently compared to orders that take liquidity (taker orders). The fees are calculated on the current pricing tier when you place the order (not after the order is completed):

TierTaker FeeMaker Fee

Stablepairs, which are price quotes between two digital currencies aimed at maintaining a value tied to an external benchmark like the US Dollar (as seen with USDC) or Bitcoin (as seen with WBTC), serve a crucial function within the cryptocurrency environment. They provide users with various financing alternatives and the advantage of immediate transactions:

Liquidity Program TierStablepair Fee
Tier 10.10bps
Tier 20.15bps
Tier 30.20bps
Tier 40.30bps
All other Exchange users0.45bps

In addition, to all this, a spread is included in the quoted price, which can be seen when previewing a buy, sell, or convert order (no spread for Coinbase advanced).

Alternatively, you can opt for Coinbase One, which is a subscription-based service that eliminates trading fees (except for spreads).

Non-trading fees

Let's now look at the rest of the Coinbase fees:

Wire (USD)$10 USD$25 USD
SEPA (EUR)€0.15 EURFree
Swift (GBP)Free£1 GBP

Some other fees include:

  • Miner fees (variable)
  • Commision of 35% for rewards you receive for staking (ADA, ATOM, DOT, MATIC, SOL, XTZ) or 26.3 for Coinbase One

Minimum deposit

Coinbase requires a minimum deposit of £50.

How long it takes the Coinbase account review?

The duration of a Coinbase account review can vary, ranging from a few minutes to several days, depending on various factors like the volume of applications being processed and the specifics of your account. The verification process involves several steps including identity verification, adding personal information, and setting up security features like two-factor authentication. To ensure a smooth process, it's important to provide accurate and up-to-date information that matches your government-issued ID​.

Coinbase account under review

If your account is under review, the process can typically take anywhere from 24 to 48 hours for trading capabilities to be reinstated, though it could take longer in cases of high demand or complex issues. While waiting, it's advisable to double-check your personal information for accuracy and follow up with Coinbase support if necessary.

There are several reasons why your Coinbase account might be under review, including suspected violations of the Coinbase User Agreement, suspicions that your account has been targeted by malicious users, issues with the personal information you've provided, or unrecognized transactions. These measures are primarily for security purposes, to protect your account from unauthorized access or fraud​.

Types of products on Coinbase

Coinbase has a wide variety of crypto products, covering the vast majority of needs of any type of investor in cryptocurrencies and digital assets. Let's look at some of the most relevant ones below.

Coinbase wallet review

Coinbase has developed its own decentralized wallet, available both as a mobile application for Android and iOS and as a Google Chrome extension for computers.

This is what Coinbase Wallet looks like: it offers a modern and pleasant interface and great ease of use.

coinbase site review

The advantages of Coinbase Wallet are that it is decentralised (you retain ownership of assets) and allows self-custody of cryptocurrencies (the owner of the wallet is also the owner of its keys) instead of delegated custody in the case of leaving the cryptocurrencies in the Coinbase exchange itself.

👉 Check out the best wallet for crypto UK

Coinbase Earning

Coinbase Earning is Coinbase's staking program: the user is rewarded with small amounts of cryptocurrencies for staking crypto. Thus, the user can earn small amounts of cryptocurrencies while retaining ownership.

coinbase wallet extension review

Coinbase card review

Coinbase offers its own credit card, through which the user can withdraw money and pay at any establishment that accepts Visa with their balance in cryptocurrencies on Coinbase. On the Coinbase Card, you can have and use the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Basic Attention Token (BAT)
  • Augur (REP)
  • 0x (ZRX)
  • Stellar Lumens (XLM)


Coinbase has its own NFT market or “non-fungible tokens” (that is, unique tokens, of which only one copy exists), where users can search, buy and sell NFTs.

Other services

The most notable service of Coinbase is Coinbase Institutional, the service that Coinbase offers to large investors and institutions to make their purchases and sales of large amounts of cryptocurrencies, offering them the necessary liquidity and good trading conditions; Coinbase, also, offers the cryptocurrency custody service to these institutional investors. In this area, Coinbase is indeed the market leader, even ahead of Binance.

Customer service

Coinbase offers excellent customer service to assist you with any queries via:

  • Phone: +44 808 168 4635
  • Email
  • Live chat

You can contact Coinbase via its website, where you can send tickets or browse an extensive FAQ section that covers most common issues and questions.

Alternatives to Coinbase

How can I buy Coinbase shares on the stock market?

To invest in Coinbase, you may want to choose one of the best commission-free brokers. Then, you can search for Coinbase (NASDAQ: COIN) on the broker's platform. It's worth mentioning that Coinbase doesn't offer its own shares on its own platform – this is because it is a crypto exchange, not a stock exchange.

Coinbase user feedback

Coinbase stands as one of the leading and most reputable entities in the cryptocurrency realm, ranking as the second most popular exchange globally. Users frequently praise Coinbase for its exceptional user interface and security measures, which contribute to a seamless and secure trading experience. However, criticisms often point towards its higher transaction fees.

Coinbase review: summary

Coinbase emerges as a premier choice for individuals and institutions looking to venture into the world of cryptocurrencies and digital assets. Its user-friendly design and robust security make it particularly appealing to newcomers and seasoned investors alike. Despite this, the platform's higher fees may drive more experienced traders to seek alternatives offering more competitive rates.

Beginners find Coinbase's intuitive platform a welcoming entry point into cryptocurrency trading, while its advanced features and services cater to the needs of institutional investors. This dual appeal underscores Coinbase's versatility across different investor profiles.

Security is a paramount concern in cryptocurrency investments, and Coinbase's commitment to protecting its users' assets plays a significant role in its adoption. The platform's comprehensive suite of services keeps it at the cutting edge of the industry. From its decentralised wallet and NFT marketplace to educational incentives, and the more competitively priced Coinbase One for advanced traders, Coinbase has evolved into a full-fledged and dynamic exchange.

In summary, Coinbase's blend of accessibility, security, and a broad spectrum of services solidifies its position as a top contender in the cryptocurrency exchange landscape, appealing to a wide range of users from beginners to high-level investors.

Pros and cons of using Coinbase

Finally, let's look at the most relevant pros and cons of using Coinbase:

High security and reliabilityHigher fees
High level of transparency (due to being listed on the stock exchange among other factors),
regulated by the SEC
Excellent user experience, very simple to use and intuitive platform
Wide variety of services offered, satisfying a large part of the needs of cryptocurrency and
digital asset investors
Listing of a large number of cryptocurrencies, ensuring the quality of the projects listed
on the platform
FIAT deposits available in different currencies and through different methods

Overall, Coinbase stands out as a leading cryptocurrency exchange, offering an intuitive platform for users to buy, sell, and store cryptocurrencies. With robust security measures, a wide range of supported coins, and user-friendly mobile apps, it is an excellent choice for both new and experienced investors in the digital currency space.

More about crypto trading

When is the next Bitcoin halving?

“Hodl” meaning and how to do it

What are stablecoins?


Is Coinbase safe to use?

Yes, Coinbase is considered safe, implementing strong security measures like two-factor authentication and cold storage for digital assets.

How does Coinbase protect my privacy?

Coinbase uses encryption and secure servers to protect your personal information and complies with privacy laws and regulations.

Does Coinbase charge fees?

Yes, Coinbase charges fees for transactions and trading, which can vary based on the type of transaction.

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