Thursday, March 20th
2025 Crypto Exchange Reviews
Coinbase
- Flat 1% transaction fee on all cryptocurrency transactions with free program
- No transaction fees with $30 per month subscription program
- Maker fees from 0% to 0.4%
- Taker fees from 0.05% to 0.6%
- Integrated hot-wallet
- About 250 supported coins
- Great customer service with subscriber program; poor customer service without
Operating since 2012, and recently advertised in the Superbowl, Coinbase is one of the largest U.S. licensed cryptocurrency exchanges. They offer an excellent variety of investment and earning options for U.S. investors in a simplified, easy-to-use interface. And their subscriber-based program delivers a wealth of benefits. However Coinbase has also been involved with a number of lawsuits including the trading of unregulated securities and harvesting of customer biometric data. Still, Coinbase stacks up as a strong option regardless of whether you're a new or experienced crypto investor.
Easy to use interface
Coinbase has earned recognition as having one of the most easy-to-use customer interfaces available. Novices and experienced investors alike find it simple to find and invest in the wide range of crypto assets that Coinbase provides. With the (sometimes) confusing nature of crypto trading, this feature makes Coinbase stand out among their competition.
1% transaction fees with free program, zero fees with subscription
Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions - but with their $30/month subscription program "Conebase One”, however, this transaction fee goes away. Their maker/taker fees are tiered and can range from 0%-0.4% (maker) and 0.05%-0.6% (taker). Their withdrawal and deposit fees for fiat currency are standard, with $0 withdrawal/deposit fees for ACH transfers, $10 fee for a wire deposit, and $25 for a wire withdrawal.
Extensive staking options
Coinbase's staking options are extensive. Coinbase offers staking in 121 assets, which can be a good way to put your crypto to work. Keep in mind, however, that staking involves risk, and prices could plunge while your coins are staked and unable to be traded. In short, always be sure to do your due diligence in a project before staking your coins with them.
Integrated hot-wallet
One convenient benefit of Coinbase is that they offer their own integrated hot-wallet. This is perfect for beginners just getting started, who may not want to research and set up a third-party wallet. Because the keys are stored on your downloaded device, it safely and securely integrates your wallet with Coinbase. Keep in mind that the safest option would be a cold wallet on a flashdrive; however, an integrated hot-wallet is a great way to have some crypto on hand for trades and payments.
Free program = just plain bad customer service
Unfortunately, the free program offered by Coinbase is infamous for its poor customer service. Client reviews frequently cite being locked out of their accounts, with reps being extremely unresponsive in helping gain them access. As an example of this. Coinbase's link to "contact us” leads to a FAQ page with no contact information, and a small window to query a chatbot. However, this is all fixed with a subscription to their Coinbase One program.
"Coinbase One” delivers great benefits and service
Many of Coinbase's troubles are solved by their $30 per month subscription service, Coinbase One. With Coinbase One, not only will you have no transaction fees, but you'll also get priority customer service and have access to a 24/7 support line, as opposed to a semi-automated chatbot. You also enjoy other benefits as well, such as boosted staking rewards If it's important to you that your assets are supported, and you are sick of transaction fees, you really should consider a Coinbase One subscription.
Frustrating account-closing practice
If you have any "dust” in your account (fractional amounts of cryptocurrency, say, in the .0000000001 range) Coinbase doesn't make it easy to close your account with them. You're in a catch-22; you don't have enough crypto in your account to process withdrawal fees for the marginal amount left, and if you have a marginal amount left, you can't close your account. Their competitors allow you to convert dust into BNB (a widely used crypto coin). In any case, keep in mind that if you want to close your account with Coinbase, these fractional shares can make life frustrating.
Alleged data collection
Coinbase has also been sued for allegedly collecting the biometric data of its customers without their consent: specifically facial scans and fingerprint data. Additionally, at the time of this evaluation, Coinbase had just received a Wells notice regarding the sale of unregistered securities. This means that Coinbase was about to be sued by the SEC for the sale of unregistered securities, which may mean the cessation of its staking programs for U.S. citizens.
Overall an impressive range of services
Coinbase is the largest U.S. based centralized cryptocurrency exchange. They offer an easy way to find and invest in crypto assets that appeals to both novices and pros alike. And their Coinbase One subscriber program eliminates transaction fees, among other benefits. Even so, Coinbase is not without their faults. Poor customer service with their free program and ongoing lawsuits are things to keep an eye on. However, it's undeniable that if you have the money to spare for a Coinbase One subscription, Coinbase should be a strong choice for your cryptocurrency exchange.
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What's the Best Cryptocurrency Exchange?
Are you interested in buying cryptocurrency? Want to know what all the fuss is about? Do you want to make sure you're a part of the next financial craze that sweeps the nation? When it comes to cryptocurrency, there's a lot to know - both good and bad. But it's not rocket science.
Obviously, one of the primary reasons that people to get involved in crypto is the potential for financial gain. Cryptocurrencies have experienced substantial price increases in the past, leading to significant profits for early adopters and investors. Conversely, cryptocurrencies have also experience significant decreases in value. With such a volatile asset, the old adage "buy low, sell high” has never been more true.
Crypto Exchange FAQ
Continued from above...
Another reason people have turned to crypto is for financial freedom: Cryptocurrencies offer the possibility of financial freedom by providing an alternative to traditional financial systems. They operate on decentralized networks, which let you have more control over your money and bypasses the need for intermediaries such as banks.
If you want o to buy cryptocurrencies, then you need to open an account with a crypto exchange. Cryptocurrency exchanges are a sort of marketplace where buyers and sellers can connect and transact with various digital assets. Exchanges typically offer a wide range of cryptocurrencies, which can let you diversify your investment portfolio. There are literally hundreds of crypto exchanges available to you - it's enough to make your head swim.
Good crypto exchanges provide a user-friendly and accessible platform for you to trade digital currencies. They can also display real-time price information, which let you monitor market trends and make informed decisions more quickly. The best exchanges implement robust security measures in order to protect your funds and personal information. They will employ encryption, two-factor authentication, and possibly cold storage solutions to safeguard assets from theft or hacking attempts.
So which crypto exchange is the best? That's a tough question to answer, as exchanges - just like cryptocurrency itself - are currently in flux. Whether you're looking at security breaches, lawsuits and regulatory side-stepping, exploitative data harvesting practices, consistently poor customer service, high-profile collapses such as FTX, irresponsible crypto lending like Gemini, or payment-for-order flow profiteering, the crypto-scene is not for the risk averse, and not for those unwilling to do their homework. However, if you are going to be trading crypto, it is well worth your time to do the research to ensure the security of your investments, and the quality of the exchange you choose to utilize.
If that wasn't enough to make you pause, consider that a whole slew of exchanges are being sued by the SEC and the CFTC. Whatever your position, the future of crypto is being actively negotiated in the U.S, as the SEC and CFTC (Commodities and Futures Trade Commision) wage regulatory battles over the status of cryptocurrency as an unregistered security.
In short, there is a lot to consider when choosing a cryptocurrency exchange. By doing some digging on your behalf, we at TopConsumerReviews.com hope to help you find the right exchange in an increasingly volatile landscape.
Before you start with our list, here are some critical points to keep in mind:
- Maker/Taker fees: In order to run an exchange, someone needs to pay for the transactions. Usually it's you, paying a percentage of the total transaction. An exchange's Maker (selling), and Taker (buying) fees are important to consider, because they can add up if you make frequent trades.
- Transaction Fees: In addition to maker/taker fees, crypto exchanges will often charge a separate transaction fee to execute your trade. Some exchanges offer a subscription-based program for a nominal fee, and eliminate the transaction fee altogether.
- Lawsuits: While it seems like most exchanges are getting sued by the SEC, some are also being sued for abusing their customers. Understanding what an exchange has been sued for, and why, can help you gauge whether or not it is safe to use.
- Payment for order flow: Some exchanges/brokerages on our list accept payment for order flow. This means that market makers pay the brokerage for access to your orders: often leading to questionable, lightly-fined business practices. Many people object to the practice along ideological grounds, as it often strategically takes advantage of retail investors.
- Not your keys, not your crypto: While not our mnemonic, it's an excellent one to remember. Never leave your crypto sitting in an exchange, unless you have a very good reason to be doing so. Crypto exchanges have just proven to be too volatile. Until your crypto is safely in a wallet on your device (or even better, on a flashdrive), do not consider it yours, and do not be surprised if it is lost.
That might seem like a lot to keep in mind. It's natural to feel some anxiety when choosing an appropriate exchange, but don't let it discourage you! Taking the time to find the right exchange can pay (and protect) your dividends down the line. Here at Top Consumer Reviews, we've waded through the best (and worst) of what's out there, and have found the best exchanges for your consideration.
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