The beginner's guide to Cryptocurrency.
July 02, 2022

The beginner's guide to Cryptocurrency.

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Modules Used

  • Coinbase Pro

Overall Satisfaction with Coinbase

I utilize Coinbase for both personal and business uses. I am in the finance industry so we get a lot of clients who utilize Coinbase as housing for their crypto assets. Being in the finance business, we need to be able to source and identify who these assets belong to which is exactly the opposite of what crypto-assets do, the whole point of it is to keep the account holders private in addition to being a housing and trading platform. Nonetheless, it's one of the better systems in what seems like a poorly regulated system when it comes to crypto.

Pros

  • Secure
  • Easy to trade.
  • Educated the consumer.

Cons

  • Way too expensive compared to banking institutions to trade.
  • Two-factor authentication although secure can be a challenge to get through for the owner.
  • Does customer service even exist?
  • Ease of use.
  • Educates the consumer on various crypto products.
  • Weekly/monthly newsletters.
  • As a trading platform, everything is set by the market so Coinbase itself had little impact on anything.
  • The educational tools are helpful in navigating the various types of Crypto currency.
Coinbase 100% is more user-friendly with beginners whereas Binance is tailored more towards seasoned crypto traders. Coinbase does offer a lot more options as well as far as types of coins to trade and of course, they're supposed to be the most secure platform. Coinbase has been around for a long time so I trusted my money with them over Binance.

Do you think Coinbase delivers good value for the price?

No

Are you happy with Coinbase's feature set?

Yes

Did Coinbase live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Coinbase go as expected?

I wasn't involved with the implementation phase

Would you buy Coinbase again?

Yes

The thing about Coinbase is that they speak to the general population when it comes to trading and managing crypto. Both newcomers and skilled traders can open an account and start trading fairly quickly once everything is verified. It's very well suited for somebody who has zero experience in trading and was all the hype when bitcoin went from 1K-30K+. The platform however has major flaws because it does attract so many consumers to this space. Unlike a Merrill Lynch account or a traditional bank account, you're never going to have that option of calling in and asking to speak with a financial advisor on crypto. As many people are within this space, you are practically on your own which isn't a good thing considering the high fees they charge and the risk class associated with Crypto. I would imagine most people who are more tenured in this space do not use Coinbase for their daily trading.

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