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Led by CEO Brian Armstrong, Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto.
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The mission is to create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency. Coinbase is available on the web or through Android and iOS mobile devices.
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Coinbase users can trade on two platforms: the original Coinbase platform, which allows users to use U.S. dollars to purchase cryptocurrency, and Coinbase Pro. Formerly known as GDAX, Coinbase Pro has advanced charting functions and allows users to make crypto-to-crypto transactions, as well as place market, limit and stop orders.
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Cash balances stored in Coinbase accounts are covered by FDIC insurance up to a maximum of $250,000 per customer. Two-factor authentication (2FA) is required on all Coinbase accounts for added security. You also have the option of whitelisting withdrawal addresses so your crypto can only be withdrawn to addresses on your whitelist.
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Coinbase stores 98% of their users’ cryptocurrency funds offline in a cold-storage wallet to ensure its security from theft or loss. The cold-storage wallets are kept in safety deposit boxes and vaults around the world. The Coinbase website traffic runs over fully encrypted SSL, and user’s wallets are stored using AES-256 encryption. In other words, Coinbase is very secure.
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Coinbase is one of the most established cryptocurrency exchanges in the United States and, with almost 100 million verified users, one of the largest in the world. Whether you’re an experienced trader or just getting started, Coinbase has all the tools you need to buy, sell, and store cryptocurrencies.
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