Steemit Crypto Academy - Topic 5 - Homework Post for @yohan2on
With over 13.3 million active users, there are several exchanges that are as trusted and reliable as Coinbase.
If you want to buy cryptocurrency with fiat money (US Dollars, Euros, etc.) Coinbase is probably the best exchange for you.
In this Coinbase review, I will cover the basics of how Coinbase is logged in ?, how does it work, its advantages and disadvantages and whether Coinbase is the best exchange for you.
After you finish reading this Coinbase review, you will have a good understanding of how to use Coinbase and what it offers. More importantly, you will be able to decide whether Coinbase is the most appropriate exchange for your crypto business.
Come on, now we start!
Coinbase is an exchange broker or crypto currency exchange where you can buy bitcoin and trade with it or several other types of currency. It differs from other traditional cryptocurrency exchanges in that Coinbase allows you to buy crypto using fiat currency.
Coinbase can be called the largest crypto exchange broker in the world!
They hold more than $ 20 billion in assets and more than $ 50 billion in crypto and have been trading using the platform since it was founded in San Francisco, California in 2012.
Coinbase actually has two core products; broker exchange and professional trading platform called GDAX. However, the two things can be used independently of one another
It's an exchange, but it has a built-in wallet already built in.
So, you can immediately save the crypto you buy with just a Coinbase login if you want. However, it is not recommended. I highly recommend that you move your crypto from Coinbase when you buy it, because wallets from exchanges like Coinbase wallets are the least secure of all.
You should consider having a hardware wallet only - it is the most secure of all!
There are lots of exchanges on the market that are not as trustworthy as they claim to be, which is the reason I'm writing this Coinbase Indonesia review - one of which is to show Coinbase is a trustworthy exchange.
So is Coinbase trustworthy? Well, actually, Coinbase is probably the most trusted place.
Just to be able to operate in 30 states of the United States, it has 40 different licenses. This ensures that their practices are legal and that they handle your money with integrity.
If you are reading this Coinbase Indonesia review, the first thing you need to know is whether or not you can use this exchange within the territory of your country.
How to use Coinbase can be applied in many countries to make transactions such as sending, receiving or storing money. However, Coinbase's buy and sell features are only available in 32 developed countries worldwide.
So, make sure you can use Coinbase from your country before you start the Coinbase login registration process
Only Offers Trusted Cryptocurrency
Coinbase is a place commonly considered the gateway into the crypto market. Through it, you can buy Bitcoin, Litecoin, Ethereum and Bitcoin Cash. Coinbase only provides these four digital currencies for purchase.
This is because Coinbase only offers coins that are guaranteed to be a currency or commodity, and it is not open to tokens that could potentially become securities or equities. It's rare to see them add new coins.
This is one other reason which is why Coinbase is considered a trusted and secure platform.
Time for the interface round Coinbase review. Coinbase has an easy-to-use interface that makes it a great tool for newbies who are just entering the ruthless crypto industry. Based on clean design and easy to navigate, complete with the tools you need are within reach of your fingers.
Unlike traditional cryptocurrency exchanges, Coinbase accepts a wide variety of fiat currencies for the four cryptocurrencies on offer. The currencies accepted are Euro, Pound Sterling and US Dollar.
Plus, Coinbase also offers a wide variety of payment methods to help their customers funnel their fiat currency onto the platform to buy crypto. This includes bank transfers, credit / debit cards, PayPal and even SEPA transfers for residents of Europe.
For anyone who wants to send money in Bitcoin but wants to make transactions with fiat, Coinbase has a feature called "Instant Exchange". Instead of using fiat to buy Bitcoin and send it to the recipient, you can use this feature to turn the whole process into one fast, continuous action.
It's as simple as you pay with fiat and the payment will be converted to Bitcoin.
There are no extra fees for this service and that's a positive aspect to take into account in this Coinbase Indonesia review!
If you are looking for a way to spend Bitcoin in your wallet, you can do it easily with a Shift Card or Shift card. Considered a Coinbase debit card, it is actually a Visa debit card that allows users in the United States to spend Bitcoin from their Coinbase wallet.
Using the Coinbase shift card is as simple as any other Visa card. When you make a transaction with the card, the Bitcoin equivalent value will be withdrawn from your online wallet. Unfortunately, this card is not yet available in all states where Coinbase operates or in any country outside the United States
If you are a frequent crypto buyer and seller and are interested in trading, you can easily switch over to Coinbase's sister platform GDAX.
Through GDAx, you can trade crypto-cryptos. And in fact, on GDAX, you will be able to find a much wider selection of cryptos for you to trade with.
However, Coinbase's policies regarding securities and equities still apply. GDAX only deals with coins that are declared virtual currency.
Even though your money is never 100% safe to store it in any online exchange, Coinbase is one of the website-based wallets that you can use.
Coinbase stores nearly 99% of their assets in an inaccessible offline cold store - if in cold storage, they won't be hacked!
Only 1% of assets on the platform available online are in the hot wallet system and these assets are insured against any losses in the future. That way, if your money is ever stolen from Coinbase, you will be able to get it back.
Pretty cool, right ?!
Sorry if the translation is not good, please understand that I am a beginner here
That is my review of Coinbase, I hope it will be useful for all of us.
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@yohan2on
Hi @fikar1213
Thanks for attending the 5th Crypto course and for your effort in doing the given homework task.
Unfortunately, you just miss-fired the homework task. You have not answered the homework task. Kindly revisit the question again and provide the relevant information.
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