Coinbase Bitcoin wallet is cryptocurrency. Every month he is gaining more and more popularity in the world. In this article, we will learn more about the Coinbase wallet, find out how to use it to withdraw money. We will get acquainted with the reviews of users of the system.
Coinbase Wallet
It was opened relatively recently - in 2012. Today, Coinbase is one of the main competitors of another famous wallet. It is called Blockchain. Coinbase is headquartered in San Francisco (California, USA). To date, both of these wallets can boast about the same number of users.
The official Coinbase website is assigned a domain name, and in addition, several language interfaces. But, unfortunately, there is no Russian among them. This fact immediately catches the eye of compatriots. Many conclude that Coinbase does not work in Russia. This is not entirely true. It’s quite possible to use the services of a wallet through intermediaries. Therefore, Russians are actively registering on the site, and as the main one they choose the most easy-to-understand language - English.
At the moment, the Coinbase cryptocurrency exchange is very convenient. But, according to most users, not perfect. First of all, because it is sorely lacking in the diversity of cryptocurrencies.
In the early fall of this year, the total number of users of the Coinbase exchange reached its record high and exceeded ten million people. Recently, the client base of the wallet began to increase significantly. On average, it grows with one million users every month. And this, according to experts, is not the limit. Over thirty million cryptocurrency wallets are registered on this platform.
More recently, Coinbase introduced a new service for users, in which customer support began to be carried out over the phone. Thanks to her, the company’s employees help users by phone through verification, blocking access to their personal accounts if they suspect that they have been hacked, and they also provide advice on increasing limits. To solve the remaining problems there is a system of tickets.
The great interest and popularity of the service is confirmed by the attention of attackers who regularly attack Coinbase, stealing the funds of its customers through Trojan programs.
Register at Coinbase
To become part of the system, you need to go to the official website of the American company. On the first page of the portal you should find the Sign UP button, which is located in the upper right corner. After it is pressed, it automatically redirects to the data entry page. In the window that appears, you must enter your first and last name. An e-mail address is also indicated and an invented password is entered. Next to I agree, check the box and then click on the big blue button called Create Account.
Immediately after completing this procedure, a new user is sent an email with a link to the new user. You need to go through it to complete the registration of the Coinbase wallet. This email verifies your email address. It should be noted that the message should be searched not only in the Inbox folder, but also in the Spam tab, since the system can regard the newsletter from the company as intrusive advertising.
Dashboard at Coinbase: own territory
Registration completed. What then? The client gets into their personal account of Coinbase wallet. It should be noted that the resource determines the location of the person. The main page provides a report on prices and changes in the exchange rate of the main Coinbase cryptocurrency - bitcoin. There you can see information about your national currency. If desired, it is possible to study the change in the exchange rate and other currencies that the wallet of this system supports.
How to use Coinbase? In the Settings section, you can configure, modify, add or make any necessary settings. There is also the opportunity to put an avatar directly for your account, and in addition, enable two-step authentication.
In the Accounts tab, the site user can see the balance of their accounts. Inside the wallet of each registered person, three types of cryptocurrencies are stored: BTC, LTC and ETH. To see your address, click on the Receive tab.
affiliate program
The functional set of cryptocurrency wallets is practically the same and does not have any differences. But the one that Coinbase offers has its own distinctive feature. It lies in the fact that this system has an affiliate program. A person can get access to it if he follows the following path on the site: in the upper right corner, click on his name, after which a menu will appear in which you need to click on the green button with the inscription Get $ 10. Further, it remains only to go to the page on which the referral link will be placed. In the event that a user shares it on his pages on social networks or on some other resources, he will be able to get ten dollars.
Coinbase: how to withdraw money?
The wallet of this system provides its users with the opportunity to carry out transactions exclusively in cryptocurrency. There are no other ways to work with it. Therefore, in the event that a person wants to replenish Coinbase's wallet from a card with bitcoins, then he will have to use the exchanger. The best of its kind today is considered Bestchange. To withdraw funds from Coinbase wallets, in case it is necessary to transfer money to a card, it is also possible only through exchangers.
Bitcoin withdrawal
So, you have accumulated a certain amount. How do I withdraw bitcoins to my bank card? This is not as difficult as it seems. The choice of the method of withdrawal or conversion largely depends on the goals of a person. If we are talking about online stores or some service that offers goods and services and accepts payment with bitcoins, then the Coinbase wallet will do just fine. In addition, it is important to take this option of withdrawing funds that will allow you to exchange bitcoins immediately to rubles, and will also make it possible to conduct an operation at the most favorable Coinbase exchange rate. At the same time, the speed of the procedure is a less important factor compared to financial advantages.
In this situation, the best option is the sale of bitcoins through a special exchange on which they are sold and bought for rubles. The algorithm of actions will be approximately as follows:
- The wallet owner transfers a certain amount of bitcoins to his account, which was opened as part of the exchange platform.
- He sells cryptocurrency for rubles. As part of this procedure, funds are credited to the client’s corresponding account on the exchange.
- The client withdraws rubles to his card.
The procedure is completed! It is noteworthy that the process of withdrawal through the exchange provides the opportunity to sell bitcoins at the most favorable rate. In this case, the Coinbase commission will be minimal, however, the exchange operation will take some time.
In the event that you want to transfer relatively few cryptocurrencies to the card in a short time, for example, to perform urgent calculations, then the withdrawal of bitcoins can be made through the exchange service. Such a procedure will take very little time. At the same time, the waiting period will directly depend on how quickly the bank institution servicing the card will credit the money. The operation takes place automatically. As a rule, the procedure is as follows:
- The owner of bitcoins transfers them to the wallet, which is indicated on the resource of the exchanger.
- The rubles are transferred by the servicing service from the card account to the counterparty’s plastic, which is indicated in the exchange request.
Typically, exchangers have accounts with various banks, so a money transfer, as a rule, does not take much time. Application for the withdrawal of exchange services involves the payment of a commission. But we can say that this is fully offset by speed and convenience.
Bitcoin withdrawal and electronic payment systems
In the event that the Internet user, through his project, has earned a certain amount of bitcoins, but does not need cash, he can exchange them for title units of payment systems. So, how to withdraw bitcoins from a wallet to electronic accounts?
Judging by the reviews of Coinbase, the answer to this question is quite simple. The withdrawal of bitcoins can be performed through the exchange service. This procedure has been described above. In addition, bitcoins can be directly transferred to an electronic system - provided that it supports them. For example, such an assistant is the well-known WebMoney wallet. Among other things, a direct exchange is also acceptable, which excludes intermediary services. For these purposes, the owner of bitcoins can sell them to absolutely any user who offers to pay with a certain currency or title units. True, it should be noted that this method is considered quite risky, since the seller may simply not wait for a return payment.
Thus, summarizing all the advantages and disadvantages of the above methods for withdrawing bitcoins, we can conclude the following:
- The exchange offers the most favorable exchange rate. But in this case, it should be borne in mind that this process can require quite a lot of time.
- Exchangers pretty quickly convert a coinbase Bitcoin into rubles and transfer them to a card, but the exchange rate itself is less profitable and attractive.
- Direct exchange makes it possible to avoid paying commission, to determine the ratio of currencies, however, is fraught with risks.
What is provided?
It was possible to provide national currencies with silver or gold, now GDP. Theoretically, you could come to any bank in the country and exchange your paper money for the equivalent in gold and vice versa. Bitcoin is not provided by anything - this is pure mathematics.
Anyone anywhere in the world can run a script to extract bitcoins on his computer, and he will be able to feel like a central bank in miniature. The source code of the script is published in open form, everyone will see how it works.
Bitcoin withdrawal: security measures
Working with electronic money requires some caution. As with the withdrawal of bitcoins from your wallet with a view to their subsequent conversion to money or title units, when purchasing a cryptocurrency you need to follow security measures. Before using the services of exchange services or an exchange for the first time, it is recommended that you make inquiries and make sure that the service actually carries out exchange transactions, and is not designed solely for the purpose of fraud. Making a final decision can help study feedback on the work of these resources. And in the event that the vast majority of comments are negative, then this can be regarded as a sufficient reason in order not to carry out the withdrawal of bitcoins through this service.
Now we’ll find out what people who use it talk about Coinbase’s work.
Reviews: negative experience
It is immediately worth noting that there is no single point of view about him. The opinions in the reviews about Coinbase are quite contradictory, and there are a lot of discontent with this wallet on the Internet. People say that this company stores personal keys from user wallets on its insecure servers. Therefore, customers believe that it, in principle, is no different from standard banks. Among the most common criticisms are the following:
- Coinbase monitors how people spend purchased bitcoins through its official website.
- This system quite often freezes payments.
- Often Coinbase blocks user accounts.
- The system steals funds from the accounts of its customers, making a refund after an indefinite period.
- Coinbase may ignore customer support for months.
- The system provides personal data and transactions to foreign authorities, acting, in particular, in the interests of the FBI.
Users, in particular, say that Coinbase support does not respond to requests for a long time, so many have learned how to ignore their requests to upload the problem to the Reddit social site, where they are at least noticed and helped to resolve a particular issue. with a wallet.
In addition, judging by some reviews of Coinbase, the company reserves the right to confiscate from users amounts of several thousand dollars and close accounts due to the fact that people did not access this service from their IP address. But perhaps the most important drawback is people consider the lack of anonymity in the framework of using this system. For this reason, users write that they simply do not trust the Coinbase wallet.
In addition, it often happens that this system reduces people’s limits on certain purchases. There are also complaints that when selling bitcoins for a certain amount, 50 percent of the profit may not be sent. In such situations, it remains only to write in support. Some also talk about receiving threats from Coinbase about freezing an account due to sending cryptocurrency to the site.
Among other things, users complain that the purchase function, as well as the withdrawal of currencies, is impossible in the territory of the CIS countries. Indeed, Coinbase does not work directly in Russia. There are also complaints about the high commission.
Reviews: positive experience
As for the positive aspects of this system, people say that they like the mobile application for monitoring their accounts. Another plus is the free ability to transfer funds from one balance to another directly inside the profile itself.
Positive feedback on Coinbase is also triggered by a low commission for outgoing transactions along with speed and availability. Despite dissatisfaction, the wallet of this system is very popular today, as it interacts with many payment structures that work with mobile phones.
There are many positive aspects. However, in general, people are outraged that Coinbase can delay payments for a period of four to ten days, freeze user accounts and extend the response time of support services by tracking the behavior of its customers on the network.