How to Deposit Fiat with Credit/Debit Card (Pocketoption or Casino) CoinbaseCoinbase
Coinbase, available to users in over 55 countries as of 2021, is the world's largest Bitcoin broker.
Is Coinbase safe? What are Coinbase’s fees? Is it a legit place to buy cryptocurrency, or are there better options?
Read on to learn!
Is Coinbase Safe?
Yes, Coinbase is a crypto company based in San Francisco, and backed by trusted investors. As of August 2020, it has raised over $547 million.
Coinbase is the world’s largest Bitcoin exchange and broker. With their exchange, called Coinbase Pro you make buy and sell offers to other users on the platform and Coinbase takes a cut of the deals.
With the brokerage, you simply buy crypto directly from Coinbase at the price they offer (there is no bidding on the brokerage side).
We will discuss Coinbase’s safety in greater depth in Chapter 1, but throughout this review, you will learn all the answers to your questions about Coinbase and its products.
This table compares Coinbase to other popular exchanges.
Cryptocurrency exchange Coinbase is adding a new way to withdraw funds from your Coinbase account. If you’ve added a compatible debit card to your account, you can transfer USD, EUR or GBP to your bank account nearly instantly.
There are some drawbacks, and the main one is that you’ll pay a lot of fees. In the U.S., Coinbase deducts 1.5% from the transaction, or a minimum $0.55 if it’s a small transaction. In the U.K. and Europe, you pay 2% in fees or a minimum fee of £0.45/€0.52, respectively.
You also need to have a compatible card. Not all debit cards support incoming transfers. You need to have a Visa card that supports Visa Fast Funds. In the U.S., you can also use a Mastercard card with Mastercard Send.
It’s hard to know whether your bank or card issuer support those features. The best way to figure it out is probably by adding your card to Coinbase and seeing what Coinbase says.
Coinbase isn’t removing other withdrawal methods. For instance, if you’re looking for a cheaper way to withdraw your funds in Europe, a SEPA bank transfer costs €0.15 per transfer. And Coinbase supports instant SEPA transfers if your bank has enabled that.
The company also lets you link your PayPal account with your Coinbase account. Your funds should hit your PayPal account within a few seconds, and there are no fees on Coinbase’s side.
As you can see, there are many ways to move money from your bank account to your Coinbase account. Some of them are slower than others, some of them are more expensive than others. Crypto-to-crypto transactions are a bit simpler by comparison, as you only need your recipient’s wallet address to send tokens.