Coinbase is one of the world's largest and most well-known cryptocurrency exchanges. It was founded in 2012 by Brian Armstrong, a former Airbnb engineer, and is currently based in San Francisco, California
The platform is designed to be accessible to new and experienced traders, with a user-friendly interface and educational resources. Coinbase offers a mobile app and a web-based trading platform.
Coinbase offers a variety of trading options, including spot trading, where users can buy and sell cryptocurrencies at the current market price, and limit orders, where users can set a specific price at which they want to buy or sell a cryptocurrency. Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions.
In addition to its trading features, Coinbase also offers a cryptocurrency wallet that allows users to securely store their digital assets and a cryptocurrency debit card, which will enable users to spend their cryptocurrencies at merchants that accept Visa.
The platform uses various security measures to protect user funds, including two-factor authentication (2FA) and SSL encryption. The exchange also stores the majority of user funds in cold storage. However, in 2021, due to a security breach, hackers stole assets from the accounts of at least 6,000 customers of Coinbase.
The exchange is licensed to operate in several jurisdictions, including the United States, the United Kingdom, and the European Union. Coinbase adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, meaning users must provide identification and other personal information to use the platform.
Coinbase has also been at the forefront of the cryptocurrency industry, pioneering new products and services such as Coinbase Custody, Coinbase NFT, Coinbase Prime, and Coinbase Pro.