About Coinbase

Coinbase was founded in 2012 and is one of the earliest cryptocurrency trading platforms in the world, and one of the largest in the U.S. Coinbase provides a platform for both individuals and institutions to trade digital assets. When Coinbase first launched, Bitcoin was not as famous as it is today; as Bitcoin prices continued to climb, cryptocurrency exchanges became major beneficiaries. Coinbase is expected to go public in the coming weeks, becoming the first publicly listed crypto exchange.

Since last year’s pandemic period, the rise led by Bitcoin and other cryptocurrencies has been extremely strong. The outlook for crypto exchanges has been very positive, and Bitcoin passed the $60,000 mark earlier this month, with gains of over 100% in the first three months of the year. At present, Coinbase supports mainstream digital assets, mainly Bitcoin (BTC) and Ethereum (ETH), and also supports trading for many other altcoins including ADA, BAT, XLM, ZEC, ZRX, EOS and more. You can check the full list at the link below:

Coinbase Signup and Usage Guide

If you have not registered for Coinbase yet, you’re welcome to use our referral link:

New users can receive $10 in Bitcoin after completing crypto trades totaling more than $100. During registration, users need to link an SSN. Usually you will be put on a waitlist for a period of time, and approval is granted once verification passes. After registration, if you want to trade crypto you need to link your bank account. Coinbase supports ACH transfers, debit card transfer and withdrawal, wire transfer, and PayPal transfer. ACH and Wire Transfer usually take 1-5 business days, while debit card and PayPal can be credited instantly. Trading on Coinbase carries fees: ACH deposits are free, while all other methods have a base rate of 4% plus other fees. For smaller transactions, you can use a debit card or ACH; for larger transactions, use Wire Transfer. See the fee schedule here:

In addition, Coinbase occasionally gives away free crypto. The current promotion gives $6 worth of UMA for watching a video and answering 3 questions, with each question worth $2. Promotion link below:

Here are the questions and answers:

Question 1: UMA lets developers create what type of financial product? Answer: Derivatives
Question 2: Which network participants help UMA solve the oracle problem? Answer: Liquidators and disputers
Question 3: Which of these can be used to create a derivative on UMA? Answer: All of these answers are correct!

In reality, you don’t actually need to watch the video course—just answering the questions is enough to receive the reward, and the questions can be attempted unlimited times. If you get an answer wrong, that’s fine—you can retry. Promotions that offer free crypto like this appear periodically and are basically free money. After receiving the crypto, don’t rush to withdraw. Coinbase allows conversions between different cryptocurrencies, with a conversion fee of 0.50%. If you receive a large amount of crypto in multiple types, you can convert other assets into your preferred currency, such as Bitcoin or Ethereum, and withdraw all at once when needed to avoid multiple withdrawals and extra fees. Similar free-coin promotions will continue to be updated periodically, so stay tuned.

Coinbase Security and Potential Risks

When registering, Coinbase requires users to link an SSN and upload an ID for verification, so each user is allowed only one account. After registration, both deposits and withdrawals require a linked bank account. Coinbase connects to personal bank accounts via Plaid and does not store sensitive data like your bank username and password, which is very secure. When logging in from a new device, Coinbase uses the linked phone number and email for two-factor verification to keep login secure.

From a policy standpoint, U.S. Treasury Secretary Janet Yellen has said that Bitcoin is a highly speculative asset. She has noted that Bitcoin’s volatility has been very high in recent years. Fed Chair Jerome Powell has also said that crypto assets are highly volatile and therefore cannot serve as a store of value. They have no backing; they are speculative assets. At their core, it is more a substitute for gold than a replacement for the U.S. dollar. Because crypto regulation is not as mature as stock market regulation, these factors can cause Bitcoin to be highly volatile in the short term. The same is true for other crypto products. If you plan to invest in crypto, keep an eye on the market and manage your position size reasonably. Again, remember that cryptocurrencies like Bitcoin are fundamentally speculative assets with large short-term swings. Investing is risky—trade carefully and do not invest money you need; respect the market.