Coinbase is not just an online wallet, but it is one of the most popular cryptocurrency exchange platforms.
Although people usually don’t prefer online wallets because of their risk of security breaches, many people go for Coinbase as an exception.
It is also the easiest to use interface on our list. Not only can you buy Ether easily from their exchange service, you can also store it in their wallet. But why do people trust Coinbase even though it is an online service?
According to Coinbase, 98 percent of customer funds are stored offline in hardware wallets and paper wallets which are stored in vaults and safety deposit boxes worldwide. And the rest of the 2% of customer funds stored online are insured.
So if a security breach were to occur, you will get your funds through the company’s insurance claim. A negative point you should know about Coinbase is that your private keys are not under your control. So they can wipe your account away if they suspect any misconduct or uncalled-for activity.
Coinbase has established a great reputation over the years. It has more than twenty millions users worldwide who have traded more than 150 billion dollars worth of digital currency. Coinbase supports 32 countries worldwide.
It also has a good customer support team and a real-time chat option to resolve your issues. You can submit a request mentioning the issue you are facing or get directly in touch with their support staff.
Although customer service is good, it has received mixed reviews given that they have over 20 million users from around the world. Still, Coinbase is a trustworthy name in the cryptocurrency world.
Another advantage of using Coinbase is that you get access to world’s leading cryptocurrencies including Bitcoin, Ethereum, Litecoin and Bitcoin cash. If you want to buy cryptocurrency, you can do bank transfer or use a credit or debit card.
If you want to know more, read our in-depth review of Coinbase earlier in this guide.
- One of the most used cryptocurrency exchanges in the market. It means it has high liquidity
- Popular cryptocurrencies available
- The whole service including interface and features is easy to use
- Very secure – 98% funds are stored in hardware wallets and rest 2% are insured by the company
- Customer support has mixed reviews
- Payment methods can be limited depending on your location.
For more information, check payment methods in different countries on their website