Is Coinbase A Scam? – NO! It Is The Ideal Starting Point For Crypto Investments

This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases.

Image result for coinbase

I was first introduced to Coinbase by SonOfABitcoin in early 2019. He was so excited he could hardly contain himself. Based on his enthusiasm, I started my own account and haven’t regretted it one bit! So, is Coinbase a scam? Certainly not!

What Is Coinbase?

Coinbase is available both as a website account and an app. There is also a separate wallet you can use.

Although there are many things you can do through and with Coinbase, I am just going to enter the newbie facts, so you know it isn’t a scam.

Make an online account for FREE, that is ZERO RISK, by clicking HERE!! Awesome! Now you can follow along.

Coinbase is a program/app that enables you to buy and sell/trade cryptocurrency and your country’s national exchange currency, e.g., USD, Euro, etc.

Image result for coinbase

How To Use Coinbase

After you give it your banking information, you can begin trading. You’ll be able to use your national currency to buy any of the numerous digital currencies Coinbase is currently supporting.

I have spent just over $100, (I’m not as brave as some), in USD on a combination of BTC (Bitcoin), LTC (Litecoin), LINK (Chainlink), etc.

As the market has ebbed and flowed, I have traded my BTC for LTC, my BAT for LINK, etc. Coinbase doesn’t charge fees for trading one currency into another.

But, it does charge a fee for buying digital currency with cash (money in your bank account). I find it to be reasonable, but when many people go bigtime, they switch apps.

You can set up recurring purchases. You tell Coinbase to withdraw a certain amount of money from your bank every week or month and buy a selected digital currency. You can have Coinbase withdraw $25 each Friday and buy Litecoin or Bitcoin or whatever.

Other Exciting Things

Using either the smartphone application or your computer, there are other things you can do besides make transfers and looking at your portfolio.

Set up your account to follow certain currencies; watch as they gain and lose standing against your national currency.

In the app:

Click on the Prices graph icon at the bottom of the screen. Scroll through the long list of currencies. The top ones will all be the ones Coinbase supports. Then the list of currencies that are making waves but aren’t supported by Coinbase.

Click the follow tab next to all the currencies you want to keep an eye on when you log in. Obviously, you’ll want to follow the currencies you’ve invested in. I strongly suggest following Bitcoin – because it’s the biggest, Litecoin – the 2nd most popular, and Dai – which strives to maintain its value at exactly one USD per Dai.

Click on Bitcoin and see a graph of how it’s been doing lately. View other current facts on it and find articles.

At the website:

Click on the Prices link at the top of the page. Click the star beside the currency you want to follow. Go ahead and click on Dai to see what’s happening.

(I understand these images aren’t good on fullscreen – sorry)

As you can see, its value is 1 Dai = 1 USD.

Scrolling down will also show you more facts and articles to enhance your knowledge.

Get FREE Cryptocurrency!

On the home screen, you will see a blue link that says Earn Crypto. Click on that! You’ll see a list of currencies that are offering you rewards for watching their videos and taking little quizzes.

There is a set amount that each currency is giving away. Ox and ZCash are already filled up, so I’m not sure why they’re still listed.

Just think, if Dai is worth exactly $1, the rewards for watching its videos, then – if you’re advanced – making a CDP account, will pay for your time even if you decide to quit!

Introducing Coinbase Earn

Make your free Coinbase Account HERE!

What Is The Coinbase Wallet

While your Coinbase account by itself is generally safe enough, some people feel more secure with a separate digital wallet. Understandably, Coinbase jumped on the bandwagon and offered its own.

Each currency will have its own wallet. So if you don’t have a special wallet through ——————-, then fear not. Your amount of each currency is saved in that particular currency’s wallet. For example, your Bitcoin is stored in your BTC wallet.

All you need to do with a wallet is download the wallet, link it to your Coinbase account, then transfer using the wallet.

The Coinbase Wallet is a separate application from regular Coinbase, so I’ll make a separate article about it later.

Bottom Line

Is Coinbase A Scam??? NO!!! I highly recommend it for anyone ready to set out in the world of cryptocurrencies!!  Make an account for HERE for FREE!

Leave Me Some Comments! (please)

Let me know what you think. Is this article lacking in grammatical fluidity? It is too simple? Too complicated? What do you think about Coinbase? Let us know in the comments below!

26 thoughts on “Is Coinbase A Scam? – NO! It Is The Ideal Starting Point For Crypto Investments”

  1. Hi, thanks for the post. I am using Coinbase myself and confirm that it is not a scam for sure. In the meantime I didn’t know that there is a possibility to earn free coins by watching video, but thanks to your post now I know that.

  2. Hi Cat,
    Thanks so much for your review. I know there are the believers, and the non- believers out there. Usually, they’re non-believers because they’ve lost money.
    I did, in the beginning, back when it was taking off and worth about $200 per bitcoin. There were many scams online, and I didn’t know any better.
    I’m still a believer, and I have a coinbase account but haven’t used it in a long time.
    You’ve given me the push to look at it again!
    Thanks so much, and good luck in your investing!

    1. Thanks for stopping by, Suzanne! I hope you do better with Coinbase this time around. Don’t forget to make sure you’ve gotten all the free coins you can get. One never knows how long those things last.
      $200 for a Bitcoin? I would’ve been the poor sap who bought a pizza. At least he didn’t do that in vain. All of us learned something!

  3. Hi

    Thanks for this review article for coinbase.
    I traded forex before and i think the principles and strategy for trading crypto is similar if not the same. This will be an easy switch for me.

    Thanks again for this and thank you for answering whether coinbase is a scam or not.


  4. Thanks for your review of Coinbase. Although I’m not an investor of cryptocurrency, anything free is worth a look. Thanks Cattington.


  5. I really appreciate you for this review on coin base. I dont know much about cryptocurrencies but i do know that people are really investing in it and this is the tail of a friend who is looking to start some trades. I guess coinbase is the go to. I would like to know however, is it good for beginners? Does it have a good interface?

    1. Thank you for stopping by! Coinbase is the best and most popular app for starting the crypto investment journey. It’s how my son and I both got started. He’s now in the big leagues, but I’m still a dabbler. The Coinbase interface is really easy. It connects to your bank account and only does what you tell it to. I started by investing about $20. It’s an easy and trustworthy app. Best wishes!

  6. There have been so many form of investments around today and investing in cryptocurrency is one I have great interest in. I have some friends who are into this line of investments and have been giving me some hints on how to go about it, although it seem a bit complex but still, I will willing to give it a try. It pleases me to know coin base comes as an app as well. I would download it and see how it goes .

    1. Thank you for the comment, Benson! Baby steps. If you’re nervous it helps to start out with pocket change. See how it goes, and then go big! Best wishes!

  7. Good to know straight away that Coinbase is not a scam. I’ve heard some things about Coinbase but a comprehensive review like the one you’ve presented here is really appreciated. With some uncertainty in the crypto market it’s important to instill confidence like you’ve done so well here. With Coinbase I like that they have an app to make crypto trading seamless so that as an investor you can be ahead of the game. It looks like the app has some amazing features and I appreciate you displaying them. I’ve been considering signing up with Coinbase and I will definitely save your link for when it’s soon time to do so. Thank you for a great review and keep up the good work!

    1. Thank you so much for the kind words! I have a lot of faith in Coinbase. I wish you the best as you make your way into the wonderful and exciting world of crypto!

  8. wow! i have always wanted to get started with the crypto currency world but then, it has not been easy and sometimes back, I had lost my money in a ridiculous way to scammers just to get to start. I live the fact that coinbase is legit and can be invested on. I will totally try my best to invest both my time and effort towards making the best use of this as I will be checking it out right now.

    1. Awesome, Rodarrick! Thank you for stopping by and reading my humble offering. I wish you the best as you begin your crypto journey!

  9. Coinbase is definitely not a scam and anyone who tagged it such should really be reexaamined. I make use of coinbase and I have been trading my bitcoins successfully while growing my wallet. experience here for me has been nothing short of awesome. Thank you so much for writing this review on coinbase.

    1. Thank you so much for stopping by, Ramos! I agree with you 100%! There are certain influential people who just can’t see the light. With so many entities going into crypto, programs like Coinbase are the way to go! Best wishes!

  10. WOW, thanks for sharing about Coinbase with proof of your earning.

    I love to invest in cryptocurrency. but I didn’t have an idea about how to start.most of all I thought Coinbase is a scam.

    after I read this post I got a clear idea about Coinbase and how to start investing in bitcoin,Definitely I will create a Coinbase account now.

    As you explain I will earn free Crypto by watching videos. Look like that is the simple way to make some Crypto.

    Again thank you for sharing valuable content.

    1. Thank you for your comment, Gihan. Coinbase is an excellent app and website program for beginners. Many bigtime investors got their start there. Best wishes!

  11. Hey Cattington,

    Interesting article, I’m pretty familiar with Forex trading and how that works and I’ve been considering moving in to cryptocurrency for a little while.

    If I understand correctly Coinbase is a trading platform from your standard currency to a number of crypto currencies. Am I right in thinking that unlike forex trading, with this, there aren’t trading market closure, you have to finalise your position within?

    I hope my question makes sense!

    1. Hi Nate! I’ve only heard of forex, so I’m not exactly sure what it is. Your thoughts about Coinbase are correct. I wish you the best! Thanks for stopping by. 🙂

  12. Hello. I have to admit I had not heard the term Coinbase, per se. I have heard the other terms and have been skeptical in the past. Perhaps it is time to take another look and give it some serious thought. Thanks for the information. Coinbase is definitely worth a look.

Leave a Comment

Your email address will not be published. Required fields are marked *