If you keep up with the financial news, you probably already know how cryptocurrency and bitcoins broke the internet a year ago. This virtual money bypasses the standard yet tedious stock exchange market and can easily be converted into physical money, bought and transferred as well. Although a fair amount of gamble is involved when dealing with this virtual currency, there is no doubt that bitcoin is a step to financial revolution. The value of the bitcoin constantly varies and hence is not a reliable source of investment always but it might be a good investment for the future.
As with any other currency, bitcoins can also require a wallet to store in. Although not necessary, a virtual wallet application such as Coinbase might help make transactions, buying and storing bitcoins a painless and smoother process.
Coinbase, as many other cryptocurrency applications, has its fair share of criticism. With over 4 million users of the app, it’s only natural to expect some bad experiences. After all, this is actual money we’re dealing with.
Based in San Francisco, this US based company has to abide by all the laws and regulations of the country when it comes to banking and finance. In fact, Coinbase’s partnership with all the big banks of that States makes it a reliable and secure cryptocurrenncy broker. The app hosts a total of 32 countries through which transactions and buying bitcoins is possible.
Along with the direct sales, Coinbase is also known for facilitating a low fee trading policy on both bitcoin and its counterpart, Ethereum on the Global Digital Asser Exchange (GDAX). So what is it really that bitcoin dealers and buyers can do on this curiously popular wallet? Well, with Coinbase users can be assured of high liquidity and buying limits. Purchases of up to $1000 worth of cryptocurrency per week can be made for credit card holders.
Users of the app can also rapidly transfer and withdraw bitcoins whenever they please. One of the good things about Coinbase is that it keeps the customer credit separate from the company’s own funds ensuring that even at times of crisis, users will have their original bitcoins back no matter what its current value is.
Coinbase is a great place to start earning bitcoins. It has a friendly user interface and an intuitive design.
The app offers transactions from all the major banks as well as debit/credit cards and even PayPal. Unlike many other third-party applications, Coinbase prides itself in having multi-signature security option to prevent theft. You’re also required to form a strong password to make a secure account on the app.
But that’s where things go downhill. Despite the high security, Coinbase has been a let-down to many of its users in the past. For starters, many have complained of their accounts being frozen or shut sometimes without an explanation. In these situations, you will be forced to make no further transactions which could make you suffer financially.
Coinbase replies to this criticism by explaining that frozen accounts always have a reason. It is public knowledge that Coinbase stores personal information of its customers and tracks where and how the bitcoins purchased through them have been spent. Any foul purchases such as in the darkweb, adult content or bitcoin gambling might lead to immediate freezing of the account.
Cryptocurrency is a gamble to play with in finance but with the recent rise in its value, it may be a good strategy to invest some, if not substantial, portion of your earnings into bitcoins. Coinbase is a great place to start your journey into the world of virtual currency. With its huge customer base, security and adequate payment methods, Coinbase might be one of the best bitcoin wallets in the app store today.
Coinbase - Bitcoin Wallet is one of the top apps in the Finance app category, which belongs to Coinbase, Inc. . It's last update was on November 22, 2017 and it has been already downloaded 5,000,000 - 10,000,000 times. On the app store it has now 122,486 reviews. After you get to Coinbase - Bitcoin Wallet page on the app store, click install & enjoy it.