Coinbase – Who are They?

 

Who & What is Coinbase, What is the Difference to Other Crypto Exchanges?

Coinbase Fiat Exchange Logo

Who and what is Coinbase?Coinbase is one of the largest and most trusted platforms for gaining entry into the cryptocurrency market with fiat (fiat is the name for regular traditional cash such as Dollars, Pounds, Euros etc).

 

We are often asked questions about Coinbase, this is because at first glance appears to operate in a fairly unique space doing one thing in a simple way.

 

Traditional Coinbase

Coinbase in actuality have two public facing services

Coinbase is setup, geared and tailored towards simple exchange of fiat with crypto. Historically, the cryptocurrencies they would provide were;

These Cryptos were held within an Online Wallet managed by Coinbase.

Generally speaking, the majority of crypto investors or traders would buy crypto with either USD, GBP or EUR, subsequently, transferring the crypto to a trading platform or exchange for trading and investing. Ultimately, sending back to either store or cash-out into their fiat currency of choice.

Due to the volume of users, value held and high numerical amount of coins being traded liquidity is high – meaning, the ability to either buy or sell is ever-present  and prices were balanced against the forces of large market.

 

Modern Coinbase

There has been change within Coinbase over the last few years, notably starting with the decision to list Bitcoin Cash (BCH) alongside its mainstay of Bitcoin, Ethereum and Litecoin.

This was a big decision for Coinbase who up until that point had resisted diluting its simple message to market and somewhat ‘exclusive’ listing status Bitcoin, Ethereum and Litecoin enjoyed.

Those who followed the market at that time would largely have seen it as inevitable that the doors would open to more cryptocurrencies. Since then many more have been added, with yet more to arrive to the platform.

One of the other (welcomed) key additions to the platform was the ‘Vault’ option, whereby value in crypto could be stored into a wallet where the individual owned the private keys – a real step change from the previous online wallet system but yet a most agreeable move.

Here are the most asked questions about the difference between Coinbase and other Cryptocurrency dealing organisations

 

What is the difference between Coinbase and Binance?

BinanceBinance operates as a traditional trading platform, whereby Cryptocurrency and Alt-coins are transferred to Wallets maintained by Binance

Once coins are within the platforms Wallets, trades can be executed within their Crypto exchange environment.

A number of trades types can be performed.

  • Buy Limit
  • Buy Stop
  • Sell Limit
  • Sell Stop

Funds at any time can be transferred from the Binance wallets to any matching coin wallet address of your choice.

Typically, transfer times can be delayed at their discretion and often the transfer fees are higher then offline wallet to offline wallets cost.

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

 

What is the difference between Coinbase and Bitcoin?

BitcoinBitcoin is a Cryptocurrency which exists within it’s own Blockchain infrastructure. It is used to store. and transfer value between addresses (wallets) inside of the Blockchain.

Coinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

The difference between Bitcoin and Coinbase is similar to the difference between the the US Dollar and a Forex trading platform. Bitcoin is exchanged and traded within Coinbase

 

What is the difference between Coinbase and Bitfinex?

BitfinexBinfinex operates as a traditional trading platform, whereby Cryptocurrency and Alt-coins are transferred to Wallets maintained by Binfinex

Once coins are within the platforms Wallets, trades can be executed within their Crypto exchange environment.

A number of trades types can be performed.

  • Buy Limit
  • Buy Stop
  • Sell Limit
  • Sell Stop

Funds at any time can be transferred from the Binfinex wallets to any matching coin wallet address of your choice.

Typically, transfer times can be delayed at their discretion and often the transfer fees are higher then offline wallet to offline wallets cost.

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

 

What is the difference between Coinbase and Bitpay?

BitpayBitpay operates as a traditional trading platform, whereby Cryptocurrency and Alt-coins are transferred to Wallets maintained by Bitpay

Once coins are within the platforms Wallets, trades can be executed within their Crypto exchange environment.

A number of trades types can be performed.

  • Buy Limit
  • Buy Stop
  • Sell Limit
  • Sell Stop

Funds at any time can be transferred from the Bitpay wallets to any matching coin wallet address of your choice.

Typically, transfer times can be delayed at their discretion and often the transfer fees are higher then offline wallet to offline wallets cost.

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

 

What is the difference between Coinbase and Blockchain?

BlockchainBlockchain is a distributed data system similar in function to a traditional database. Numerous and multiple copies of a particular Blockchain exist online.

Master nodes perform and record the transactions inside of the infrastructure and this information is replicated.

Each Cryptocurrency has its own Blockchain, that provides a view to every single transaction that has ever been executed. This ranges from the very first, to the the very last before you read this sentence.

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

 

 

What is the difference between Coinbase and Coinbase Wallet?

Coinbase WalletCoinbase Wallet is an app for Android and iPhone, the app allows you to store numerous tokens and Crypto coins offline on your mobile device.

The app uses bio-metrics and Secure Enclave for heightened security access and usage within the app.. Extra security is used for storing the private keys the wallet in processes and locations outside of the mobile devices main processing (CPU).

 

Coinbase Fiat Exchange LogoCoinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

The difference between Coinbase Wallet and Coinbase is that Coinbase Wallet is a product of Coinbase dedicated to storing, transferring and interacting with Dapps (Decentralised Applications).

 

What is the difference between Coinbase and Coinbase Pro?

Coinbase ProCoinbase Pro operates as a traditional trading platform, whereby Cryptocurrency and Alt-coins are transferred to Wallets maintained by Coinbase Pro.

Once coins are within the platforms Wallets, trades can be executed within their Crypto exchange environment.

A number of trades types can be performed.

  • Buy Limit
  • Buy Stop
  • Sell Limit
  • Sell Stop

Funds at any time can be transferred from the Coinbase Pro wallets to any matching coin wallet address of your choice.

Typically, transfer times can be delayed at their discretion and often the transfer fees are higher then offline wallet to offline wallets cost. However, transfer between Coinbase Pro and Coinbase are fee-less and instant. This is a big benefit to using the Coinbase platforms together.

 

Coinbase Fiat Exchange Logo

Coinbase is the the organisation that owns and operates the Coinbase Pro Cryptocurrency trading platform.

Coinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.

 

What is the difference between Coinbase and GDAX?

BinanceGDAX (Global Digital Asset Exchange) was the previous incarnation of Coinbase Pro. All accounts and activities from GDAX now run under Coinbase Pro.

Coinbase Pro operates as a traditional trading platform, whereby Cryptocurrency and Alt-coins are transferred to Wallets maintained by Coinbase Pro.

Once coins are within the platforms Wallets, trades can be executed within their Crypto exchange environment.

A number of trades types can be performed.

  • Buy Limit
  • Buy Stop
  • Sell Limit
  • Sell Stop

Funds at any time can be transferred from the Coinbase Pro wallets to any matching coin wallet address of your choice.

Typically, transfer times can be delayed at their discretion and often the transfer fees are higher then offline wallet to offline wallets cost. However, transfer between Coinbase Pro and Coinbase are fee-less and instant. This is a big benefit to using the Coinbase platforms together.

 

Coinbase Fiat Exchange LogoCoinbase is the the organisation that owns and operates the Coinbase Pro Cryptocurrency trading platform.

Coinbase, is an organisation which provide public online Crypto platforms that facilitate the purchase, sale, storing and associated services for several of the main Cryptocurrencies and Alt-coins.