Currently in 2017, Coinbase remains world’s largest Bitcoin broker, their service is accessible to users in more than 30 countries. As a customer, you can buy bitcoin by connecting your bank accounts such as Interac Online, SEPA transfer, including other payment methods.
Instant buy available with credit card as backup
There is buying limits and high liquidity
It’s an easier bitcoin purchasing platform for new users
May track how its users spend bitcoin
There are limited payment methods
Is Coinbase safe?
Absolutely yes, Coinbase is backed by trusted investors; their Bitcoin Company is based in San Francisco and remains the world’s largest Bitcoin exchange site.
How does it work?
With a simple and easy to use interface, Coinbase seek to make bitcoin purchasing easy for new buyers.
Bank transfer, credit card or debit card are the accepted and popular payment methods for Coinbase customers.
Is your Country Supported by Coinbase?
Coinbase brokerage services is available in Canada, United States, Singapore, and United Kingdom.
The following European countries are also supported by Coinbase:
Belgium, Poland, Malta, Austria, Netherlands, Slovenia, Ireland, Romania, Bulgaria, Croatia, Spain, Cyprus, Monaco, Czech Republic, Denmark, Finland, France, Greece, Portugal, Switzerland, Hungary, Italy, Latvia, Norway, San Marino, Slovakia, Sweden, Liechtenstein,
Users are required to supply many personal details including full identity verification.
If you are buying with a credit card, you will be required to take a picture of your passport or driver’s license.
Limits & Liquidity
Depending on the level of your account, Coinbase offers a very high limit. However, this depends on how much information you have verified. For example, if you are from USA and are fully verified, you may buy up to $50,000 worth of bitcoin on a daily basis.
At any time, users from the European countries can have a maximum of €30,000 euro in their account.
How Fast is Coinbase transaction?
For United States, once ID verification has been completed, and you make use of Debit or Credit Card, your bitcoin will be delivered instantaneously.
Bank Transfer: if you make use of bank transfer as a U.S. customer, you will receive your bitcoins in five business days of placing an order. On the other hand, if you add a credit card to your account as a backup payment method, you’ll have access to “Instant Buy”.
For Canadians, it takes four days for EFT purchases to complete.
As a European user, if you make payment with SEPA transfer, you will receive bitcoin within 1-3 days.