Coinbase is a digital asset exchange company headquartered in San Francisco, California. They broker exchanges of Bitcoin, Ethereum, Litecoin and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide.
Coinbase has been described as the most popular bitcoin wallet provider. As of November 2018, Coinbase had 13 million accounts with $20 billion in annual transaction volume.
Coinbase charges a flat fee of $2.99 for U.S. customers to transfer money from their bank account to Coinbase.
For transfers of $200 or more, the fee is waived. European customers may transfer up to €30,000 per day for a fee of 0.2%.
In May 2016, Coinbase announced the launch of their Vault service which provides “paranoid” security features like a 48-hour time-lock and the option of multiple approvers. The service stores the user’s private keys offline on a secure element which is locked by a PIN code; therefore, if the PIN code is guessed incorrectly three times, the secure element will erase its private key and render the wallet unusable.
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As of early 2018, Coinbase had 13.3 million users. Of those, approximately 8 million use Coinbase to buy and sell cryptocurrencies on a monthly basis. Based on these numbers, it’s safe to say that a good portion of the crypto community uses Coinbase as their primary exchange.
It’s no secret that Coinbase is one of the most popular cryptocurrency exchanges out there. But what about Coinbase’s fees? Does Coinbase charge to send Bitcoin?
When it comes to sending Bitcoin, Coinbase does charge a fee. This is because when you send Bitcoin, the network will actually charge a small fee for the transaction. Coinbase will then pass this fee onto the customer.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
