Having successfully served over 9 million customers in 32 countries, Coinbase is the obvious choice for bitcoin beginners.
Coinbase was founded in 2012 to give users an easy way to purchase, sell, and use cryptocurrency. Unlike most cryptocurrency exchanges, Coinbase directly sells Bitcoin (BTC/XBT), Ethereum (ETH), and Litecoin (LTC) to their users. This means that when you place an order, the fees and guaranteed price are clearly stated at the time of your order.
You can purchase cryptocurrency on Coinbase with bank transfers or credit cards, as well as sell cryptocurrency in exchange for bank transfer or PayPal.
Coinbase also provides cryptocurrency wallets. These wallets can be used to store, send, and receive Bitcoin, Ethereum, and Litecoin. Customer funds are fully insured, although users are responsible for personal account breaches. If you store funds on Coinbase, make sure to enable two-factor authentication (2FA) like Google Authenticator to secure your account.
As a cryptocurrency business that’s based out of San Francisco, Coinbase adheres to a number of laws and regulations:
- Registered as a Money Services Business with FinCEN.
- Compliant with the Bank Secrecy Act.
- Compliant with the USA Patriot Act.
- Compliant with state money transmission laws and regulations.
By abiding by these laws and regulations, Coinbase naturally attracts newbies who find comfort in its safety.
Coinbase offers customer support through email and typically responds within 24-48 hours.