Cryptocurrency is the latest trend amongst blockchain investors. You can agree that first-timers might not know where to start because many digital currencies circulate the market.
Before investing in this venture, you should choose an ideal crypto exchange online platform for maximum returns. This article covers the best crypto exchange site you can use if it’s your first time to trade in the blockchain industry–read on for pros and cons.
Coinbase is a newbie-friendly exchange network that allows traders to exchange, buy, and store cryptos digitally. Investors can trade Bitcoin, Litecoin, Ethereum, and Bitcoin cash hassle-free. It is easy to deposit fiat currencies like GBP, USD, and EUR on Coinbase and later withdraw on trading wallets like Trezor and Ledger Nano S.
If you are looking for an instant crypto exchange site, you will love Coinbase. The following steps should help you trade successfully on the platform:
- Create an account on Coinbase and verify your ID
- Choose a payment method and add a preferred one.
- Link a credit or debit card
- The next prompt requires your permission to perform two transactions.
- Check your card statement and submit the transaction details (the amount deducted) on your Coinbase app.
- Start trading
You can log in to your account and start trading. For more insights, you can view the crypto list price letsexchange.io.
Why trade on Coinbase?
Among the many exchange sites, Coinbase stands out. Here are some of the things that make it exceptional:
- Easy to use: The platform has an easy to follow steps for first-time traders allowing you to buy and sell cryptocurrencies in a friendly manner.
- Safe –you don’t have to worry about hackers accessing your digital coins. Coinbase keeps off all the controversies associated with blockchain investments. The network comes with custodial investments wallets (FDIC endorsed bank accounts) that deploy policies against data breaches. New traders will find it convenient. However, you should know that Coinbase stores your private keys –a safety measure for investors who might lose their keys.
- The exchange network has a premium membership package, Coinbase Pro, allowing users to trade at low costs. Investors subscribing to this plan also access the site’s exclusive features and trading insights on indicators and charts.
- The site allows multiple altcoin trading; you can trade more than 25 cryptocurrencies on the platform.
- Thanks to the user-friendly interface, the network is easy-to-use –signing up, buying, and selling cryptos can be done within minutes. Coinbase also has an informative cryptocurrency trading guide for investors.
- Guarantees high liquidity –the exchange network ranks among the highly liquid sites consistently. This advantage is a guarantee that you won’t worry about volatility.
- You will incur higher transaction fees if you are not using the Coinbase pro version.
- Investors don’t store private keys. This feature denies you the freedom to be in charge.
- New crypto-traders might experience difficulties using the pro version.
- Coinbase doesn’t support a variety of altcoins for experienced traders.
Beginners have higher chances of investing and trading on Coinbase thanks to its user-friendly nature. After signing up, log in to your account, check the portfolio balance. Then, you can trade and convert digital coins by clicking on the ‘Buy Crypto’ tab.