What is CoinBase and should you trust it?
Find out the REAL TRUTH in this CoinBase review!
Service : CoinBase
Created by : Brian Armstrong
Official Site :http://Coinbase.com/
Bonus : YES! Check this out below..
What Is CoinBase All About?
Coin Base is a popular platform for exchanging, transferring, and storing various digital currencies including Bitcoin, Ethereum, and Litecoin.
The company has been around since 2012 and in that time they have processed over 6 billion dollars of digital currencies, across 33 countries, for a total of 6.7 million customers.
CoinBase claims they’re the “‘one stop shop’ when it comes to wallets, exchanges, and merchant tools in one simple interface.”
Let’s find out if that’s true…
How Does The CoinBase Marketplace Work?
It’s simple really..
You can sign up just like any other site on the internet, create an account with a password, plug in your credit card, and start buying digital currencies within the next 5 minutes.
Of course, there are some restrictions and limitations in place in regards to how much you can trade right out of the gate.
How To Start Buying Bitcoin, Ethereum, and Litecoin on Coinbase.
When I signed up, CoinBase only allowed me to buy up to $100 worth of coins in a 7 day period and have since raised that limit to $200 per week.
If I wanted to increase it above the maximum $200 buying power I would need to offer more information like a government issued ID.
There’s an option to link up to multiple payment methods and each option has it’s own fees and limitations :
- Paypal – Need drivers license or photo ID for approval
- Credit Card – No approval but convenience fee of 3.75%
- Bank Account – Link your bank account and increase spending limits to $2,500 (documentation required)
How Do You Make Money With CoinBase?
The easiest way to start making money with Bitcoin or any other crypto currency is to start investing yourself.
I started by grabbing 5 Bitcoin from a buddy and I’ve been holding them ever since, and as you may well know, Bitcoin is at around $4350as I type this up.
So, one simple strategy is to buy and hold on to your coins and the way BTC is moving, in the next few years one coin could be worth upwards of $500,000 or more!
Head over to CoinBase right now, sign up and grab $100 worth of BTC. It’s not too late to get involved.
PLUS, You’ll even get a $10 bonus in FREE Bitcoin after you spend $100 on Coinbase.
Should You Trust Coin Base?
Yes, and No! Here’s why…
Yes, you should trust CoinBase to make simple purchases of coins but I personally would not store say, 100 bitcoins on my CoinBase wallet.
The truth is no matter how secure an online system is I just don’t like to leave my investment in the hands of some potentially “secure system.”
Sony network got hacked, costing them billions of dollars and tons of lawsuits, so if one of the largest electronics companies on the planet can get hacked I’m sure there is potential for ANY online system to be hacked all the same
Is this scenario any online wallet is not secured, so better store your Bitcoins on Hardware Wallets which has no battery to power the hackers to steal your Bitcoins when it is connected to PCs and Mobile. Do check the popular hardware wallets like Ledger, Keepkey and Trezor
Trezor Hardware Wallet[/caption