As the world’s largest Bitcoin exchange, Coinbase is often thought of as a peer-to-peer platform. However, this is not strictly accurate.

Coinbase does not offer a true peer-to-peer experience in the same way that other platforms do. Instead, it functions more like a traditional broker.

This means that when you buy or sell Bitcoins on Coinbase, you are not actually dealing directly with another person. Instead, your trade is matched with another user who is also looking to buy or sell.

This can lead to some advantages and disadvantages.

One advantage is that it can be faster and easier to trade on Coinbase than on a true peer-to-peer platform. This is because there is no need to find and connect with a counterparty.

All you need to do is place your order and Coinbase will take care of the rest.

However, this also means that you will have to pay Coinbase’s fees, which are generally higher than those of other exchanges. Additionally, you may not have as much control over the price of your trade.

This is because Coinbase uses its own internal order book to match trades, rather than connecting buyers and sellers directly.

Overall, whether or not Coinbase offers a true peer-to-peer experience is a matter of debate. While it does have some advantages over traditional exchanges, it also comes with some drawbacks.

Ultimately, it is up to each individual user to decide whether Coinbase is right for them.