Coinbase has become an icon of digital currency trading, allowing anyone to buy, sell, and store cryptocurrency in an instant. Its success, however, has resulted in some issues. Coinbase is notorious for its poor customer service and has many complaints from customers, including lost funds, locked accounts, and hacked accounts. In this Traders union article, we’ll look at how customer service works at Coinbase, and whether or not it meets your needs.
Provide One Of The Best Level Of Security
The company implements several security measures that protect your funds and prevent online fraud. Even though it may be more expensive than other exchanges, this security is one of the main reasons why it’s preferred by so many institutions. For example, it uses biometric logins, passwords, and two-factor authentication, in addition to the usual security measures. In addition, users can connect their hardware storages to protect their cryptocurrency.
Unlike other exchanges, Coinbase has several features that make it a good choice for newcomers to the cryptocurrency market. A beginner-friendly interface, a mobile app, and an online education center make Coinbase easy to use. It’s also easy to set up a virtual portfolio and buy and sell currency quickly. And if you’re a professional, you’ll appreciate Coinbase Pro’s lower trading fees.
The user interface at Coinbase is clean and uncluttered. Moreover, the interface allows you to transfer cryptocurrencies without learning addresses. You can also send funds using your user ID. You won’t need to learn how to send cryptocurrencies using addresses, because all operations are facilitated by ACH.
Offers A Much Lower Price Structure And More Transparency
The biggest issues include privacy, transaction fees, and the ability to sell and buy cryptocurrencies using a mobile app. Coinbase is the world’s largest crypto exchange, and has no history of hacks. 98 percent of customer funds are stored in cold storage, which is separate from the internet and is protected against online thieves. Backups of customer funds are also stored in secure deposit boxes around the world.
Provide Two-Factor Authentication
Both Coinbase and Gemini are secure when it comes to the security of customer funds. Both companies use two-factor authentication to help prevent account hacking. Once the code is entered, they can proceed with the login process. Additionally, the servers host sensitive data on hardware that is separated from the internet. This means that there’s less chance of data theft.
Another notable difference between gemini vs coinbase is that the latter offers interest on your crypto holdings. Unlike Coinbase, Gemini offers interest on portfolios, which can reach 7.4%. It also offers an active trading platform, a third-party clearing service, an external software wallet, and a credit card. Gemini even has its own stablecoin, tied to the U.S. dollar. Although both exchanges offer similar features, Gemini is more user-friendly.
Gemini offers advanced features, such as buy and sell orders, and is better for beginners than Coinbase. Both exchanges have their advantages and disadvantages. Make sure to compare both before you decide which one is right for you. If you’re new to crypto, Gemini is the better option.
User-Friendly And Supports A Number Of Different Currencies
Both exchanges offer comprehensive market data and tools. They also have apps for smartphones, tablets, and desktop computers. Gemini is user-friendly and supports a number of different currencies, including non-fungible tokens. Both platforms feature educational content for newcomers, including short videos on how to buy and sell crypto. Gemini offers newsfeeds and price alerts. Coinbase also lets you create watchlists of cryptocurrencies and receive real-time alerts of price changes.
Bottom Lines
Gemini offers custody services for users. Gemini allows you to trade off of its order book. Coinbase’s wallet is based on a software platform. Kraken uses a hardware wallet. Both exchanges allow you to manage your keys with a hardware wallet. Gemini and Coinbase offer different pricing models and interest rates. You may choose one over the other if you’re an active investor who wants a convenient and safe platform for trading and investing.
