With more than 280 crypto assets on their books, Huobi Global is a good exchange for diversifying your portfolio.
The Bottom Line: Huobi has an impressive range of cryptocurrencies and offers advanced features and trading options – margin and contracts trading – for more expert investors. Whether you’re an expert or a novice, the platform is a solid choice – but be prepared to struggle with the language a little.
Coinbase at a glance
The process of signing up is simple and self-explanatory, leading you through account opening and identification verification.
The verification process consists of uploading your ID and can be done through the mobile app or website. Verification is usually approved automatically but can take 1-2 days if they need to manually review it. Once signed up and verified, it’s no trouble to deposit funds and start trading. Users have a plethora of payment options, from bank account linking to debit or credit card payments.
The Dashboard is easy to navigate and the order entry interface is intuitive. There is also a vast educational section on the website in case you run into trouble.
All accounts are protected by device-based 2-step verification. Users can choose between SMS, time-based one-time passwords, or a physical authentication device to authenticate their account. Equally, when a user withdraws funds from their account, email verification is initiated to ensure this transaction is valid.
Another layer of security, Coinbase generates a new address for each transaction to prevent the reuse of addresses and to make sure transactions corroborate. What’s more, users can view all their login and transaction history, which is protected with SSL encryption.
Coinbase as an exchange has never been hacked and is respected among the security community. As a failsafe, 98% of customer funds are stored in offline storage thus minimizing the impact from any potential hack.
For those with large sums of cryptocurrency on the exchange, Coinbase offers a Coinbase Vault service. These are multiple signature accounts with longer delays for withdrawal to provide safety nets that increase security.
Coinbase doesn’t offer as many cryptocurrencies as other big exchanges – with only 14 on the list. However, Coinbase offers excellent global trading accessibility, thanks to its diverse payment mechanisms and wide geographical reach. This means that more countries than ever can now access the most popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin through Coinbase.
The Coinbase platform allows investors to schedule trades and manage investments from your Android or iOS app.
Coinbase offers some of the most comprehensive educational resources on cryptocurrency. Coinbase Learn is a full library of tools to help traders of all levels understand blockchain and cryptocurrency trading. Articles and resources range from basic introductions to the theory behind cryptocurrency, through to active ways to secure your account, updates on legislation, and tips on investing and mining.
Coinbase users can head to the Knowledge Base to find comprehensive guidance, or they can ask questions on the responsive Coinbase Community section. For email support, tickets tend to have a 48-72 hour response time. While there is phone support, most users report not having issues solved via telephone. In fact, Coinbase isn’t revered for its support, often only providing superficial help or not solving the issue at all.
Coinbase’s fees are in the middle of the pack and vary from between 1.49% to 3.99% depending on the purchase method. Credit card purchases incur 3.99% fee, while bank, SEPA, and Xfers transfers incur a 1.49% fee. Deposits are free by ACH transfer, but cost $10 otherwise. While there are many payment options, not all are available to every country, so be sure to check that.
What You Need to Know
Coinbase is a great platform for those starting out their crypto trading adventure. Users can buy and sell a solid selection of popular cryptocurrencies, via a myriad of payment options in a secure environment. Designed for ease of use, the dashboard is straightforward to learn, while the website has a comprehensive educational platform to teach you anything you need to know about crypto trading.