With the increasing popularity of cryptocurrencies, there's no denying that having access to a reliable digital wallet has become a necessity. Coinbase: Buy Bitcoin & Ether is an app that lets you securely buy, sell, and manage your cryptocurrency from your Android device. Developed by Coinbase, the app has garnered a loyal following and currently boasts over 5 million downloads. But is it worth it? Read on for our comprehensive review.
Features
Buy and Sell
The main feature of Coinbase is its ability to buy and sell Bitcoin, Ethereum, and other cryptocurrencies directly within the app. This means you can quickly purchase with your credit card or bank account using the instant buy/sell feature or set up a recurring payment with automated buys for dollar-cost averaging.
Wallet
The Wallet feature allows you to securely store your crypto assets in one place. You can also send and receive coins with your unique wallet address or exchange them with others using QR codes. Plus, it has a vault for storing large amounts of money in total security, which requires multiple approval steps to withdraw.
Price Alerts
One of the best features of this app is its real-time price alerts. You can set a specific price at which you want to buy or sell certain coins, and the app will send you a notification when the price hits your target. This is especially helpful for those who want to capitalize on price changes without constantly checking the market.
Coinbase Learn
With this feature, users can read articles and watch videos to learn more about cryptocurrency, the technology behind it, and how to invest safely in it.
Pros
User-friendly interface
The app has a very sleek and easy-to-use interface. Its design is simple and minimalistic, which makes it easy for anyone who is new to cryptocurrencies to navigate.
High security standards
Coinbase offers top-notch security features such as 2-factor authentication and biometric verification to ensure your data and funds are safe.
Built-in learning resources
Perhaps one of the most significant advantages of this app is the Coinbase Learn resource section, which helps users understand the concept of cryptocurrency and increase their financial literacy.
Cons
High Fees
Coinbase charges high fees for buying and selling cryptocurrencies compared to other exchanges or platforms. For some people, these fees can add up quickly and become expensive over time.
Customer Support delays
Some users have reported long wait times for customer support inquiries. While Coinbase does offer email support, they are not always quick to respond, leading to frustration and inconvenience.
Comparison to Similar Apps
Compared to similar apps like Binance, Kraken, or Bitstamp, Coinbase is a more straightforward crypto investing platform. It has a user-friendly interface, built-in learning resources, and many useful features for buying and selling crypto. However, Coinbase has higher fees than some of its competitors.
Tips for Using the App
Invest only what you can afford to lose
Cryptocurrency prices are highly volatile and can fluctuate dramatically in short periods. Be careful with your investment strategies and invest wisely without compromising your financial stability.
Activate 2-factor authentication
This feature upgrades your account security by requiring two different types of verification methods - for instance, a password and an SMS-based code - to log in to your account. This will greatly enhance your account security and protect you from potential hacks.
Conclusion
The Coinbase app is undoubtedly a valuable tool for those looking to invest in cryptocurrencies. Its easy-to-use interface, built-in learning resources, and high-security standards make it one of the most popular options available. The only downside is their higher fees. However, we highly recommend this app to anyone interested in entering the world of cryptocurrency investing.
Updated 05-15-2023
Overview
With the increasing popularity of cryptocurrencies, there's no denying that having access to a reliable digital wallet has become a necessity. Coinbase: Buy Bitcoin & Ether is an app that lets you securely buy, sell, and manage your cryptocurrency from your Android device. Developed by Coinbase, the app has garnered a loyal following and currently boasts over 5 million downloads. But is it worth it? Read on for our comprehensive review.
Features
Buy and Sell
The main feature of Coinbase is its ability to buy and sell Bitcoin, Ethereum, and other cryptocurrencies directly within the app. This means you can quickly purchase with your credit card or bank account using the instant buy/sell feature or set up a recurring payment with automated buys for dollar-cost averaging.
Wallet
The Wallet feature allows you to securely store your crypto assets in one place. You can also send and receive coins with your unique wallet address or exchange them with others using QR codes. Plus, it has a vault for storing large amounts of money in total security, which requires multiple approval steps to withdraw.
Price Alerts
One of the best features of this app is its real-time price alerts. You can set a specific price at which you want to buy or sell certain coins, and the app will send you a notification when the price hits your target. This is especially helpful for those who want to capitalize on price changes without constantly checking the market.
Coinbase Learn
With this feature, users can read articles and watch videos to learn more about cryptocurrency, the technology behind it, and how to invest safely in it.
Pros
User-friendly interface
The app has a very sleek and easy-to-use interface. Its design is simple and minimalistic, which makes it easy for anyone who is new to cryptocurrencies to navigate.
High security standards
Coinbase offers top-notch security features such as 2-factor authentication and biometric verification to ensure your data and funds are safe.
Built-in learning resources
Perhaps one of the most significant advantages of this app is the Coinbase Learn resource section, which helps users understand the concept of cryptocurrency and increase their financial literacy.
Cons
High Fees
Coinbase charges high fees for buying and selling cryptocurrencies compared to other exchanges or platforms. For some people, these fees can add up quickly and become expensive over time.
Customer Support delays
Some users have reported long wait times for customer support inquiries. While Coinbase does offer email support, they are not always quick to respond, leading to frustration and inconvenience.
Comparison to Similar Apps
Compared to similar apps like Binance, Kraken, or Bitstamp, Coinbase is a more straightforward crypto investing platform. It has a user-friendly interface, built-in learning resources, and many useful features for buying and selling crypto. However, Coinbase has higher fees than some of its competitors.
Tips for Using the App
Invest only what you can afford to lose
Cryptocurrency prices are highly volatile and can fluctuate dramatically in short periods. Be careful with your investment strategies and invest wisely without compromising your financial stability.
Activate 2-factor authentication
This feature upgrades your account security by requiring two different types of verification methods - for instance, a password and an SMS-based code - to log in to your account. This will greatly enhance your account security and protect you from potential hacks.
Conclusion
The Coinbase app is undoubtedly a valuable tool for those looking to invest in cryptocurrencies. Its easy-to-use interface, built-in learning resources, and high-security standards make it one of the most popular options available. The only downside is their higher fees. However, we highly recommend this app to anyone interested in entering the world of cryptocurrency investing.