Fred Ehrsam and Brian Armstrong started the company in the year 2012 when digital currency came much into the limelight.
Since then the company has immense media coverage on various newspapers and journals such as The Wall Street Journal, Bloomberg, The New York Times, TIME etc. Coinbase has expanded its platform and offer their service to 32 other countries. Currently, more than 8.9 million customers have registered themselves on this platform due to great service and extensive customer support.
Features of Coinbase
Coinbase has some of the exceptional features that make this platform reliable. Coinbase is available not only on web platform but also as a mobile application that is compatible with both Android and iOS. This provides convenience to the users and even makes the technology handier.
Coinbase also provides insurance on the digital coins as they are saved on the servers. An insurance policy can be a boon for clients and also makes the platform trust worthier due to increased cyber criminal activities. The company also provides the facility of instant exchange by converting digital currency to local currency. Another feature of Coinbase is recurring buys where a user can buy digital currency over a period of time may be weekly or monthly.
Security at Coinbase
Coinbase is a responsible exchange when it comes to security. The website servers have SSL encryption. Most of the currency is stored in offline mode to add an extra layer of security to these wallets. The platform also has a multi signature vault that controls all the private keys during the transactions.
Together wallets and keys are covered under AES-256 encryption. The currency is distributed geographically in wallets and vaults to make it more protective and less accessible. Two-step verification can also be enabled by the user to add additional security.
How to setup a new account on Coinbase?
In order to setup a new account on Coinbase, a user can log on to www.coinbase.com. Click on the tab “Sign up” which then redirects to the registration window. Enter the details such as first name, last name, email ID and create a new password. Click on the checkbox “I’m not a robot” then “create account”. A verification email goes to the registered email ID that validates an authentic user. Once the verification is complete, the user can begin with trading.
A user can access all the important details of his personal wallet in one go by clicking on the dashboard. It also shows the current market value of Bitcoin, Ethereum, and Litecoin along with timelines in terms of minutes, days and months. Also, there is a list of all the recent transactions that a user carried out using his Coinbase account.
Buy/Sell at Coinbase
A user can click on the “Buy/Sell” tab to order Bitcoins or sell them as per market pricing. Every time a transaction is made, the user can generate a new address. This address is essential to validate a transaction. To generate a new address, click on the “tools” option then click on “Create new address”.
A user can also view all the recurring transactions that have occurred. There is also an option of history where a user can view the all-previous transactions.
An interesting feature of Coinbase is that a user can also send Bitcoins with the help of address. Thus it can act as another payment option.