Coinbase Exchange: Pros & Cons and Steps to Withdraw Crypto

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Coinbase Exchange is a digital currency exchange platform that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Founded in 2012, it has become one of the most popular and trusted exchanges in the world, with over 56 million registered users acr

As cryptocurrencies are gaining popularity in the world, various traders or investors are looking to invest in them. There are so many Crypto exchanges available in the world, and because of these wide ranges, it becomes difficult to figure out that, which crypto exchange is better. Today we will talk about Coinbase, the most popular and trusted crypto exchange in the world of crypto. The founders of this popular crypto exchange are Brian Armstrong (a former-Airbnb employee) and Fred Ehrsam. It supports more than 250 cryptocurrencies. It is the best platform for those traders who are looking for convenience and want to easily convert one cryptocurrency to another.

In our further content, we will cover some topics such as Coinbase Exchange pros and cons, the types of accounts offered by it, and steps to withdraw cryptocurrency from Coinbase.

Coinbase Exchange Pros and Cons:  

Pros:

  • Coinbase offers a wide range of cryptocurrency selections. It offers more than 250 crypto assets.
  • Offers mobile applications for trading that are highly rated by both Android and iPhone users. 
  • Offers its own Coinbase Visa debit card to its users, which can be used everywhere even internationally.
  • Quick and easy crypto withdrawals.
  • Provides educational content for learners.
  • Comes with a beginner-friendly interface and makes it easy to use for new users.

Cons:

  • Charges high fees on certain transactions as compared to other cryptocurrency exchanges.
  • Limited staking and interest opportunities.
  • Complex fee structure.
  • Customer support issues, even when its users witness serious security issues.

Account versions offered by Coinbase:

Coinbase Exchange offers three different versions of accounts which are as follows,

 

  • Coinbase: It is for beginners or new users.
  • Coinbase Pro: It is available for advanced traders.
  • Coinbase Prime: It is for institutions, Asset Managers, and High net worth individuals.

 

Steps to withdraw Cryptocurrency from Coinbase Exchange:

We have mentioned below an easy-step-by-step guide that will help you to withdraw Cryptocurrency from Coinbase Exchange.

  1. First of all, open your preferred browser and sign in to Coinbase Exchange.
  2. Then, click on the “Trading” tab option on your screen.
  3. Now select the “Withdraw” option under “Wallet Balance”.
  4. Select the cryptocurrency that you would like to withdraw. You can use the search bar or also can select cryptos manually from the list.
  5. After selecting the asset, you have to enter the external wallet address in the “To” field. 
  6. Make sure that you are using the right network, if you are using multiple blockchain networks and then click on “I Understand I am withdrawing funds on network”.
  7. In the last step, enter the amount that you would like to withdraw and then click on the “Withdraw” button to finish the process.

Conclusion:

In our above content, we have covered some topics such as an introduction to Coinbase Exchange, and its pros and cons. Along with that, we have covered steps to withdraw Cryptocurrency from Coinbase. It is a secure, safe, and easy-to-use crypto exchange for managing cryptocurrencies. Its advanced security features and beginner-friendly interface makes it the best option to choose for receiving, sending, and storing cryptocurrencies.

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