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

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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.

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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.

Laugh along with my first ever video.

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!

42 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!
    Suzanne

    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.

    Regards
    JG

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

    Ron

  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.

  13. Hi, my respectful opinion is that if you want to get into the crypto currency scene, that you should do your due diligence and put in the time to study and understand it. 

    There is not such thing as a get rich quick, and cyrpto currency should not be seen as that. 

    If you are willing to invest the time to learn it, then of course you can make money. Your advice he is probably pretty good in that you can start with Coinbase.

    However, just be willing to put in the many hours of learning that will be required, and go very slow when you start.

    1. Thank you for the additional insight, Jake. No one should expect the market to explode in value as soon as they invest. I start small. Never invest more than you can afford to lose. Thank you for the comment.

  14. I’m a novice on this subject. What is this opportunity?…what is being traded or bought/sold and why?; Like I said, I’m a novice and not sure why I would get involved, help me understand

  15. Thank you for the opportunity to review your site.

    I was encouraged to read the words Cryptocurrency for Beginners; I’m a novice in the finance/trading area and want to learn. I was hoping to get some real beginner information at your site but, after I was done reading, I was not any closer to understanding what digital currency is, why it exists, and why I should consider getting involved. 

    So,…what is cryptocurrency and why is it relevant?…Can I use it at a store or is it just a trading/investing item?

    If there is a money making opportunity here for me, what is it?…and how does it work?

    Your site would be an asset to people like me with respect to educating me to the point I know enough about the subjet to want to get started in the space and begin to spend my money to make money.

    1. Hello there! I am unable to place all the exciting information that most beginners want into a single article. There are some online stores that accept digital currency. I do know one person who garnered over a million, but before he withdrew it, the value of that coin went down. He still made several hundred thousand. If you’re truly excited, try one of the books for beginners I suggested. Thank you for the comment. Best wishes!

  16. A central crypto site/app like this is perfect for newbies.  I’ve never traded crypto before, now I actually think I can.  The ability to earn some free coins from learning about the cryptocurrency is a huge bonus for someone like me who has no experience.

    Have you found the valuation of the currencies to be pretty in time with other crypto markets, which I imagine exist lol

  17. I think the ones who are thinking it’s a scam are those who are either against cryptocurrency or don’t have enough knowledge of how this alternative currency work and how the online wallets work. It’s super legitimate and not a scam. 

    We’re using an equivalent service here in the Philippines and I wonder if we can use Coinbase too from here. The last time I checked their site, they’re not yet servicing customers from my country but that’s quite a long time ago. I wonder if they will accept us now. 

    1. Thank you for stopping by, Gomer. I agree with you 100%!! There are people who will go into a full-blown rage at the thought of someone trusting cryptocurrency. It’s just one of those things that require research and wisdom. I don’t know if Coinbase is available in the Philippines yet, or not. Off-topic, I’m watching a movie based in the Philippines. It’s a really beautiful place. 🙂

  18. I am very skeptical about the entire idea of cryptocurrency, however I did begin a coinbase “wallet” and have used it to transfer bitcoins to a company for online gambling. It seemed to work fine, but I really do not understand the need for such a currency, and am worried that eventually it will go up in smoke! Thank you for the in depth review, it is very helpful.

    1. I appreciate your comment, Travis. Whether we like it or not, cryptocurrency is here to stay. We know this because some governments, China included, have decided to make their very own cryptocurrencies. In my opinion, this defeats part of the fun, because not only is it now under government scrutiny but under their full control. *sigh* Like anything, have fun while it’s yours to play with. Once the government completely takes over, …

  19. I haven’t opened an account in Coinbase yet. And I know I’ve been messing a great deal. I’ll follow your advice and do so now. This platform definitely is a must for any one of us that wants to get started in the crypto space. It makes things so convenient that it may even become a handicap not having an account with them. Thanks for the encouragement through your review.

    1. Awesome for you, Henry! With Coinbase, itself, being free, plus giving users the opportunity to earn a few free coins, there’s nothing to lose. Best wishes!

  20. I’m interested in earning some few different cryptos through their Earn Crypto link. I saw in their site that right now they’re offering $126 USD in value for watching videos of different cryptos. It’s a great way to get acquainted with all these coins and at the same time get some of these coins.

    1. Thank you for stopping by and commenting, Abel. I know that some of the earning free opportunities have expired, but several are still extant. It’s definitely worth downloading even if only for a few dollars of fiat value, since Coinbase, itself, is free. Best wishes!

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