Boasts of an intuitive design and an interactive layout. Great platform for beginners with low fee structures and multiple payment modes.
Stringent spending rules persist in addition to certain privacy concerns.
Despite having its share of cons, this platform is still a great way to deal in Bitcoins— courtesy the expansive client base and a user-friendly interface. Selling restrictions make splurging impossible, thereby enhancing the credibility of this feature-packed web-wallet.
Conibase comes forth as one dependable online wallet, best known for its functionality as a Bitcoin broker. Established in 2012, this company has currently limited trading activities to 32 nations, citing security concerns. Other countries can still purchase Bitcoins although exchanges are disallowed; at least for now. The company has taken giant steps, in terms of growth and development with a 9.8 million customer base to rely on. Moreover, Coinbase boats of massive exchange figures i.e. $20.0 billion to be exact.
Easy to Connect
This web-wallet allows customers to connect their debit cards, credit cards and bank accounts with the system, facilitating seamless digital currency exchange in either direction. Once connected, customers can start dealing in Bitcoin, Litecoin and Ethereum as the existing currency modes. With multiple currency modes in play, this web-wallet is probably the most reliable option to work with.
Availability of Mobile Wallet
Probably the best aspect of this Bitcoin broker is its multi-platform compatibility, in the form of mobile wallet experience. This functionality is available on Android and iOS— clubbed with selective features like requesting and sending Bitcoins, secured account access, availability of discrete transaction details and simplified trading activities. Therefore, customers can readily install the app-version of this web-wallet without having to worry about safety and functionality.
Complete User Control
This web-wallet brings back the concept of multisig vault, allowing users to take complete control in a matter of minutes. Coinbase lets customers store their private keys, helping them with seamless encryption, direct Bitcoin purchases and even group vaults. While the company has often been criticized for its lack of security enhancements, the recent developments featuring Bitcoins are rather exemplary.
Instant Exchanges are allowed
Customers are usually worried about the exchange rates and the risks associated with the same. However, this company comes forth with a pretty utilitarian network that mitigates price volatility and offers the best possible rates for a trade. Instant Bitcoin exchange is also available where customers can either send the digital currency or make a request towards receiving the same. There are instances when funds need be transferred immediately and this is where Coinbase shows up as a pretty reliable web-wallet.
Customers are allowed to make recurring exchanges over the platform and this feature has now been integrated right at the front. The concept of recurring purchases was long ignored by most service providers and we finally have something inspirational to look at. Moreover, this approach helps users avoid the timing risks and they can easily sell Bitcoins without having to track the timeline. Recurring exchanges are also good for the digital economy.
Verifications Methods for Security
The company accounts need to be created with utmost care as users have to furnish their names and email addresses— right at the start. There is also a user agreement to look at which has to be accepted in order to take the proceedings further. This wallet typically relies on advanced measures by keeping the policies crisp and clear. That said, having these measures in place further vindicates the organizational goals; making exchanges safe and secured.
Secured Storage Benefits
Bitcoins are elusive and this web-wallet has functional safety measures in place for securing the customer funds. It needs to be understood that almost 98 percent of customer funds are usually stored offline— keeping them away from cyber thefts. This kind of secured storage distributes Bitcoins in geographical safe boxes and country-specific vaults. Moreover, any form of sensitive data stored within the company framework is literally disconnected from the internet.
Apart from that, paper backups and drive-specific information are also stored in safe boxes— spread far and wide across the globe. Unlike most wallets, Coinbase comes forth with two-step authentication with customers being asked for a mobile code in addition to the password and username.
Digital currency stored within the database is insured and in case of security breaches and thefts— the customers will get back the lost funds. The insurance policy is attached to the agreement and covers losses for employee thefts, cyber security breaches and even physical shortfalls. As mentioned, only two percent of funds are usually stored online and therefore security leaks are supposedly minimized. In addition to that, customer’s fiat currency is segregated and stored in certain custodial accounts, completely restorable in case the firm turns insolvent.
In a nutshell, Coinbase is a great web-wallet for the beginners with minimum transactional fees and decent security standards. Moreover, this is one reliable Bitcoin broker— supporting features like recurring exchanges, secured storage and instant trading.