When it comes to digital currencies, there is no doubt that Coinbase is one of the most popular and well-known platforms. Based in San Francisco, Coinbase allows users to buy and sell cryptocurrencies, as well as store them in a wallet on the site. But is Coinbase considered a bank?

The answer to this question is somewhat complicated. In some ways, Coinbase functions like a traditional bank.

For example, when you open an account on Coinbase, you are required to provide your personal information, including your name, address, and date of birth. You also have the option to link your bank account to your Coinbase account, which allows you to easily buy and sell cryptocurrencies.

However, there are also some key ways in which Coinbase differs from a traditional bank. First and foremost, Coinbase is not regulated by the US government like banks are.

This means that if Coinbase were to ever go out of business or be hacked, you would not be protected by the FDIC like you would be with a traditional bank.

Another key difference is that Coinbase does not offer any interest-bearing accounts. This means that if you store your money in a Coinbase account, you will not earn any interest on it.

So, is Coinbase considered a bank? In some ways yes and in other ways no. It really depends on how you look at it.