coinbase world fact check section blog

As such, it is now possible to buy and sell 17 different cryptocurrencies

Check out the list of supported coins below.

  • BAT
  • BTC
  • BCH
  • BSV
  • DAI
  • EOS
  • ETH
  • ETC
  • LINK
  • LTC
  • REP
  • USDC
  • XLM
  • XRP
  • XTZ
  • ZEC
  • ZRX

Coinbase Pro supports a number of additional coins that are not tradeable on the main Coinbase platform, which we’ve listed below. These will be tradable against a number of other digital assets, such as Bitcoin or Ethereum.

  • ALGO
  • CVC
  • DNT
  • GNT
  • LOOM
  • MANA
  • MKR
  • ZIL

How Much Does it Cost to Trade at Coinbase?

One of the most important factors to consider when using a cryptocurrency broker is the fees you will pay to buy and sell coins.

This is especially true of the platform’s custodianship services, which seeks to offer institutional-grade security on cryptocurrency holdings.

In fact, it was recently reported that Coinbase is now experiencing institutional demand of between $200 million and $400 million per week. With cryptocurrencies arguably still in their infancy, this number is only expected to grow.

In terms of the platform’s regulatory standing, Coinbase is registered as a Money Service Business with FinCEN, and it complies with all respective anti-money laundering and terrorist financing regulations. This is why all customers must be identified when using Coinbase.

While the articles posted by the company so far are reactive in nature, Armstrong stated that the company will be transitioning to a more proactive approach as time goes on in an attempt to educate users on the different elements of the cryptoeconomy.

The company is also planning to move beyond fact-checking by creating original content that highlights the latest events in the world of crypto through the use of podcasts, YouTube, blogs, Twitter, and other channels that make use of blockchain technology such as Bitclout.

While cryptocurrency has been getting a major place in traditional news outlets as it gains popularity, the information provided by these outlets can be biassed due to financial interests and lack of knowledge when it comes to the industry and underlying technologies.

Make no mistake – despite lower prices, cryptos are hitting it at all levels.

Coinbase world fact check section blogbugs

NEW YORK, June 1 — The cryptocurrency exchange platform Coinbase plans to become — in its words — a “source of truth,” arguing that journalists are essentially bullies riddled with conflicts of interest.

In fact, the firm considers that every tech company should speak directly to its audience, effectively becoming media companies in their own right.

Interest in cryptocurrencies seems to grow with each passing day. But as interest grows, it can become difficult to unravel fact from fiction in an economy that is still largely misunderstood. In fact, even crypto-economy investment “experts” sometimes seem overwhelmed.

For Coinbase, the rise of false information published in the press or on social media is a growing and dangerous issue.

Coinbase world fact check section blogging

As such, they are virtually immutable to an external malicious attack, not least because the funds are never connected to a server.

With 98% of customer funds held in cold storage, this acts as a major safeguard. The remaining 2% is subsequently used to facilitate Coinbase’s core services, such as the buying and selling of coins, and executing withdrawals.

Account Security

From the perspective of the user, Coinbase offers a number of notable security features to ensure that you mitigate the risks of unauthorized account access. First and foremost, you will be required to install two-factor authentication (2FA) via your mobile device.
This means that every time you login, you will need to enter a unique code that can only be obtained from your phone.

Coinbase world fact check section blogger

As you would be notified by email when the withdrawal request was made, this would give you sufficient time to act.

FDIC Insurance

In a relatively surprising move for a cryptocurrency exchange, Coinbase also offers FDIC protections on its USD wallets. This means that if the company ever ceased to exist, your balance would be protected upto the first $250,000.

Take note, this is only offered to US customers that store their real-world funds in their Coinbase USD wallet. Anything outside of this won’t be covered by the FDIC.

For customers outside of the US, real-world funds are held in segregated custodial bank accounts.

Customer Support at Coinbase

When the Coinbase platform grew to unprecedented heights at the turn of 2018, the company made the decision to increase its customer support team by the hundreds.

In fact, although the numbers are estimates at best, it is believed that more than $1.3 billion has been hacked from cryptocurrency exchanges in total. Taking into account that the phenomenon is just over 10 years old, this is a considerable amount of money.

As such, the safety of your funds should be your primary concern when choosing a cryptocurrency exchange for the first time. The good news for you is that arguably – Coinbase is one of the most secure cryptocurrency exchanges in the industry.

Below we’ve broken down the main security features that will help keep your funds safe.

Cold Storage

A good starting point is the platform’s decision to keep the vast majority of its user funds in cold storage.

For those unaware, this means that digital coins such as Bitcoin are kept offline via a hardware device.

On the basis of these somewhat noble intentions, Coinbase is planning to create its own media arm. In a blog post, the firm outlines three potential courses of action: let it happen, fight it or “publish the truth.”

For CEO Brian Armstrong, the latter option offers a middle ground, which involves establishing a direct relationship with the public. As a result, the American company plans to use a “fact-checking” approach to show its transparency, even if that means sharing negative facts about the company.

Creating stories

Taking his point further, Brian Armstrong encourages all companies to become media companies in response to the proliferation of fake news.

For its part, Coinbase will launch a section of its blog called “Fact Check” to fight misinformation about the company, but also about cryptocurrencies in general.

If the intentions are not always negative, the fact remains that everyone seems to have his opinion and does not hesitate to share it disregarding the impact that a false information can have.

It is behind these rather noble intentions that Coinbase wishes to create its own media branch. In its blog, it presents three choices: let it happen, fight it or « publish the truth ». For its CEO Brian Armstrong, there is a middle ground, that of establishing a direct relationship with the public by publishing the « truth ».
The American company will not hesitate to offer a « fact check » to show its transparency, even if it means sharing the negative facts about its own company.

To take his point further, Brian Armstrong wants every company to become a media company in response to the proliferation of fake news.

Coinbase is, in the next section we are going to explore how the buying and selling process works.

How do you buy and sell Cryptocurrencies at Coinbase?

As the primary feature of the ever-growing Coinbase product range, buying and selling cryptocurrencies is super easy. In fact, this is one of the key reasons that it has attracted so many users over the past seven years. Irrespective of experience, making a purchase can be done with ease.

Moreover, although the number of cryptocurrencies supported by Coinbase is still relatively small, the platform acts as a simple gateway to purchase small and micro-cap digital tokens on other exchanges.

In order to show you how it works, we’ve broken down the main set-up process below.

Step 1: Open an Account

You will first need to head over to the official Coinbase homepage.

Similar Posts:

Leave a comment