Online Wallet: Coinbase

Coinbase is one of the largest online wallets in the crypto market today, and now supports Bitcoin, Bitcoin Cash, Ethereum and Litecoin. They also have a robust smartphone app which can be used for much of everything the online site does.

Our personal issues with this site are:

1. Support: Coinbase has a rich FAQ site but it doesn’t have everything. When you send an form/email for support, you are notified that you will be responded to in a few days. There needs to be better support.
2. “Convenience” fee: At 3.75% it’s a bit high for it to be convenient.
3. Identification with multiple nationalities: Let’s say you’re a US citizen living in Canada and only have a passport to show for ID, Coinbase will not recognize it as “it doesn’t identify what state your reside in.” Honestly, it shouldn’t make a difference what state you reside in as long as you are able to pay taxes and declare what is in your Coinbase account as a taxable asset.

That said, as a wallet , Coinbase works as a standalone. It’s also a great place for beginners to get into crypto.