Despite having its share of cons, this platform is still a great way to deal in Bitcoins— courtesy the expansive client base and a user-friendly interface. Selling restrictions make splurging impossible, thereby enhancing the credibility of this feature-packed web-wallet.
Conibase comes forth as one dependable online wallet, best known for
its functionality as a Bitcoin broker. Established in 2012, this company
has currently limited trading activities to 32 nations, citing security
concerns. Other countries can still purchase Bitcoins although
exchanges are disallowed; at least for now. The company has taken giant
steps, in terms of growth and development with a 9.8 million customer
base to rely on. Moreover, Coinbase boats of massive exchange figures
i.e. $20.0 billion to be exact.
web-wallet allows customers to connect their debit cards, credit cards
and bank accounts with the system, facilitating seamless digital
currency exchange in either direction. Once connected, customers can
start dealing in Bitcoin, Litecoin and Ethereum as the existing currency
modes. With multiple currency modes in play, this web-wallet is
probably the most reliable option to work with.
the best aspect of this Bitcoin broker is its multi-platform
compatibility, in the form of mobile wallet experience. This
functionality is available on Android and iOS— clubbed with selective
features like requesting and sending Bitcoins, secured account access,
availability of discrete transaction details and simplified trading
activities. Therefore, customers can readily install the app-version of
this web-wallet without having to worry about safety and functionality.
web-wallet brings back the concept of multisig vault, allowing users to
take complete control in a matter of minutes. Coinbase lets customers
store their private keys, helping them with seamless encryption, direct
Bitcoin purchases and even group vaults. While the company has often
been criticized for its lack of security enhancements, the recent
developments featuring Bitcoins are rather exemplary.
are usually worried about the exchange rates and the risks associated
with the same. However, this company comes forth with a pretty
utilitarian network that mitigates price volatility and offers the best
possible rates for a trade. Instant Bitcoin exchange is also available
where customers can either send the digital currency or make a request
towards receiving the same. There are instances when funds need be
transferred immediately and this is where Coinbase shows up as a pretty
are allowed to make recurring exchanges over the platform and this
feature has now been integrated right at the front. The concept of
recurring purchases was long ignored by most service providers and we
finally have something inspirational to look at. Moreover, this approach
helps users avoid the timing risks and they can easily sell Bitcoins
without having to track the timeline. Recurring exchanges are also good
for the digital economy.
company accounts need to be created with utmost care as users have to
furnish their names and email addresses— right at the start. There is
also a user agreement to look at which has to be accepted in order to
take the proceedings further. This wallet typically relies on advanced
measures by keeping the policies crisp and clear. That said, having
these measures in place further vindicates the organizational goals;
making exchanges safe and secured.
are elusive and this web-wallet has functional safety measures in place
for securing the customer funds. It needs to be understood that almost
98 percent of customer funds are usually stored offline— keeping them
away from cyber thefts. This kind of secured storage distributes
Bitcoins in geographical safe boxes and country-specific vaults.
Moreover, any form of sensitive data stored within the company framework
is literally disconnected from the internet.
Apart from that, paper backups and drive-specific information are also stored in safe boxes— spread far and wide across the globe. Unlike most wallets, Coinbase comes forth with two-step authentication with customers being asked for a mobile code in addition to the password and username.
currency stored within the database is insured and in case of security
breaches and thefts— the customers will get back the lost funds. The
insurance policy is attached to the agreement and covers losses for
employee thefts, cyber security breaches and even physical shortfalls.
As mentioned, only two percent of funds are usually stored online and
therefore security leaks are supposedly minimized. In addition to that,
customer’s fiat currency is segregated and stored in certain custodial
accounts, completely restorable in case the firm turns insolvent.
a nutshell, Coinbase is a great web-wallet for the beginners with
minimum transactional fees and decent security standards. Moreover, this
is one reliable Bitcoin broker— supporting features like recurring
exchanges, secured storage and instant trading.
Overall Visibility Score 65.88
Company Name: Coinbase