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The world of digital currencies, like Bitcoin, can seem overwhelming. However, getting involved safely and securely has never been more critical. The use of Bitcoin and digital money are becoming more and more popular and taking center stage in the modern world.
The world of crypto has come a long way since 2017, when Bitcoin and other digital assets hit the mainstream in the first major bull run. Back then, people would hastily hop on unregulated exchanges hoping for the best, just to get involved with the latest ICO (initial coin offering) or buy into top market cap coins like Bitcoin, ETH, and Litecoin.
Since then, people expect a lot more in terms of transparency, simplicity, and most importantly, security. With a market of over 2000 different currencies and a host of wallets and exchanges, people are crying out for something simple that they are used to from a traditional banking setup, only with a more modern flow and link to the future of finance.
Why Choose Coinbase?
This is where Coinbase steps in. It’s a publicly traded company that has been in the space since 2012 and has seen almost all of the extreme highs and lows of the market. Coinbase is one of the most widely used exchanges in the space globally, it’s the largest crypto company in the UK, it has 100 million verified users across 100+ countries and is the only crypto exchange in the S&P 500.
Unlike offshore exchanges that operate in legal grey zones, Coinbase is headquartered in the U.S. and in the UK is registered with the FCA as a cryptoasset business, and authorised as an e-money institution. This provides transparency and legal accountability to consumers. Coinbase has weathered the storms of bad actors in the space and, most importantly, keeps customer funds and liquidity safe and accessible in market downturns.
Platform Features and Accessibility
With a straightforward user interface, you can choose from hundreds of different digital currencies and tokens. These range from the most significant market cap players like Bitcoin to meme coins, and you can purchase them with low fees in a secure environment.
Coinbase is accessible via an app on your phone, allowing you to buy and sell with the Coinbase exchange and store assets on the Coinbase wallet. For more advanced trading, there is also a professional platform available. Coinbase Advanced caters to more seasoned investors, offering limit/stop orders, deeper charting tools, and lower fees without sacrificing security.
Robust Security Measures
Security is a top priority for Coinbase. Ninety-eight percent of assets held by Coinbase are on cold wallets, which are offline and provide a more secure level of security. Consumers can feel safer while also having 2FA logins and insurance coverage for hot wallet funds (against breach, not market loss). Hedge funds, pension funds, and large financial institutions for secure crypto storage trust Coinbase Custody.
Rigorous Asset Vetting
Every token listed on Coinbase undergoes a rigorous legal, compliance, and security vetting screen. This makes it one of the most selective exchanges in the industry. They focus more on long-term track records and high liquidity volume tokens that are widely regarded as safer options.
Seamless Financial Management
The on and off ramp of using your hard-earned money to invest and then convert back into GBP is supported with easy bank withdrawals. Coinbase One members can also access crypto tax tools, in addition to other benefits such as zero trading fees and boosted staking rewards.Additionally, Coinbase’s support staff are available to talk to regarding all areas of your account should you need help or have questions.
Coinbase values its compliance efforts and working with government bodies to be a trusted* option for retail consumers.
Account Signup and Verification:
If you choose to sign up for a Coinbase account, you’ll need to go through an onboarding and know-your-customer process (much like a traditional bank). You’ll be guided through this process and any information or documents that you need to provide. There’s also some onboarding questions that Coinbase will need to ask you to make sure that investing in crypto is appropriate for you. If you have any questions at any stage, you can contact customer support easily via the app or website.
Visit Coinbase to learn more
*Coinbase was voted as the most trusted crypto exchange in a 2024 Qualtrics survey conducted in the UK, Germany, India, and the US
