Is Coinbase Trustworthy?

Is Coinbase Trustworthy?

Coinbase, which is among the largest cryptocurrency exchanges in the world, is a cryptocurrency exchange that is curious by crypto money investors who have just entered the market or who have not heard of it before. Although it has a controversial structure, we can say that it is the leading among the prestigious crypto money exchanges by many.

So what is Coinbase?

  • Coinbase, crypto investors, large enterprises; that is, it is a cryptocurrency exchange that allows institutional investors to trade and invest in cryptocurrencies.
  • Although there is not a wide variety of cryptocurrencies on Coinbase compared to other exchanges, more than 85 cryptocurrencies can be bought and sold through Coinbase.
  • In Coinbase, as in other cryptocurrency exchanges, you can buy and sell at least 10 dollars. However, among the points you should pay attention to, we can say that apart from this 10 dollars, you should also have some dollars for commission.
  • One of the methods of depositing money to Coinbase is a credit card. This feature was not active for Citizens of the Republic of Turkey until the past few months. However, you can now make crypto money transactions with your credit card after you become a member of Coinbase.

History of Coinbase

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As you know, the emergence of Bitcoin was in the first months of 2009. Coinbase was established three years after this date to offer cryptocurrency investors and traders the opportunity to buy and sell cryptocurrencies.

On the other hand, to say Coinbase is just a cryptocurrency trading platform would be an understatement. Because Coinbase also has services such as storing cryptocurrencies of institutions that manage billions of dollars worth of assets.

Another issue we should mention is that Coinbase started trading on NASDAQ in the second quarter of 2021, on April 14. In other words, it became a publicly traded company with a valuation of approximately 100 billion dollars. This is one of the points that show that Coinbase is reliable.

Whose Coinbase and Which Country?

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We talked about the history of Coinbase, but did not mention in which country it was founded and who founded it.

We mentioned above that Coinbase was founded in 2012. Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. So the original owners of Coinbase are Brian Armstrong and Fred Ehrsam. We can talk about this for now, but since the company has become public, it would not be accurate to say that Coinbase directly belongs to these two names.

So which country is Coinbase from? Coinbase is an exchange founded in the United States and maintains most of its operations in that country. We can say that it is trying to carry out its services in accordance with the guidelines and red lines of the SEC, in particular with the CMB of America, in the regulation of the crypto money market.

Is Coinbase Trustworthy?
As we said above, Coinbase is one of the largest formations in the crypto money world. It was even allowed to be listed publicly on the NASDAQ. In other words, we can say that Coinbase gives confidence to America’s financial institutions.

On the other hand, Coinbase members can use their accounts securely. So they can trade cryptocurrencies without any problem. Of course, the security of your account is up to you. Downloading unknown, non-genuine applications to your phone, tablet or computer, and logging into untrusted sites may endanger the security of your account.

In fact, this situation is not only valid for Coinbae. You are responsible for the security of your account on all other cryptocurrency exchanges. Already, trusted cryptocurrency exchanges such as Binance and Coinbase allow their members to upgrade the security of their accounts. If you’re asking if Binance is reliable, click the link!

In addition, the exchange says that investors store 99 percent of their crypto assets offline in cold crypto wallets. So it’s a secure stock market against a possible hacker attack. However, you should still continue to manage your investments and research the stock markets yourself.

As a result:

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As a result, it is possible to say that Coinbase is a reliable cryptocurrency exchange, regardless of small or large investors. Some of the reasons to trust Coinbase are that it has partially gained the trust of legal institutions in the USA, provides crypto currency trading services to millions of investors, and enables asset companies that manage billions of dollars to buy crypto money.

On the other hand, we can say that Coinbase is a suitable platform for people who are new to the crypto money world. You can buy crypto money with a credit card and you can make transactions without difficulty thanks to the simple interface of the application.


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