What is Coinbase?
Coinbase is an online platform that acts on the one hand as a digital wallet, which means that you can use it to store all your cryptomonies in a unified site. In this aspect, you can think of it as the application of your bank, where you can see the amount of cryptomoney you have and the evolution of its value.
In addition to this, as a digital wallet you will also have a unique address with which other people can send you crypto-currencies to it, allowing you to receive or make payments with them without having to go through other services.
On the other hand, it is also a service of buying and selling crypto-currencies, which is known as a crypto-currency exchange. This means that you can link your credit card to the service and use your real money to buy different types of cryptomonies, and then at any time you want you can sell them again.
With this, you have a service whose operation can be very similar to others such as PayPal or your bank's app when it comes to paying and obtaining cryptomoney. You can also manage them as if it were a stock market application, only instead of speculating on the stock market you can do it with crypto-currency. However, you have to take into account that the value of crypto-currencies is quite volatile, so be careful with taking too many risks.
The platform is based in San Francisco, California, and was founded in 2012 by Brian Armstrong and Fred Ehrsam. One of its main investors has been BBVA with its BBVA Ventures program, and in July 2019 they claimed to have 30 million users on their platform.
As we have said, Coinbase will charge you commissions when you buy or sell crypto currencies. When you are going to buy crypto-currencies the commission will be 1.49%, while when you are going to sell them to exchange crypto-currencies for real money, the commission will be 1%. What has no commission is the transfer of assets to other virtual portfolios.
Registering for this service is very simple. You only need to be over 18 years old, and give the service your name, surname, an email and the password you want to use in your account. Then, to buy crypto currencies you will have to link a payment method that can be a PayPal account, your bank account or a credit or debit card.