facebookCoinbase Crypto Exchange Reviews and Comparison - Seedly

Coinbase Crypto Exchange

  • Key Features
  • Reviews (27)
  • Discussions (0)
  • More Details
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Summary

Understanding the risk of Cryptocurrency Platforms in Singapore:

This product does not currently hold the licence to “provide digital payment token services” under the Payment Services Act (PS Act) by MAS. Find out more below in the "More Details" section.

Coinbase Review 2023

In October 2023, Coinbase received a full license in Singapore to expand the range of digital asset payment services available in the region.
The company was granted a complete major payment institution license in accordance with the Payment Services Act approximately one year following the preliminary approval from the Monetary Authority of Singapore (MAS). This approval places the company among over twelve other firms that have been licensed to provide digital payment token (DPT) services in Singapore.

Crypto Exchange Features and Details

Key Features

  • High limits and Free deposit/withdrawal (0% fee)
  • USDC Rewards (up to 4%)
  • Simple and Advanced trading tools
  • Send/Received crypto to multi-chain without need of bridging  (Ex: USDC can be sent to Ethereum, Solana, Polygon, Optimism)
  • Web3 wallet integrated to Coinbase (easy access to Web3 dApps)
  • Learning rewards - Coinbase.com/learn for education resources
  • Recurring buys for dollar-cost averaging strategy
  • In-app live chat support
  • Trusted by US Regulators as a result of going under scrutiny due to its IPO

Account Opening

  • Minimum Age Requirements: 18 Years Old
  • Documents Required: Singpass
  • Account Opening Fees: N/A
  • Funding Options: FAST, Paynow, and  Credit Cards/ Debit Card (Paynow is not yet live but will be live in a couple of weeks so if it takes you a few weeks to put this up you can keep it up. I can let you know once it is live.)
  • Account Minimum: S$1

Number of Listed Cryptocurrencies

  • 200+ including BTC, ETH, USD Coin, Solana

Purchasable with SGD

  • Supported

Number of Fiat Currencies accepted

  • 30+ Fiat Currencies Supported (globally)

Trading Fees

  • Maker fee: 0.00 - 0.4% and Taker fee: 0.05 - 0.6%

Deposit Fees

  • FAST Bank Transfer: Free
  • Credit/Debit card: 3.99%

Withdrawal Fees

  • FAST Bank Transfer: Free
...see more

Popular Products

Summary

Understanding the risk of Cryptocurrency Platforms in Singapore:

This product does not currently hold the licence to “provide digital payment token services” under the Payment Services Act (PS Act) by MAS. Find out more below in the "More Details" section.

Coinbase Review 2023

In October 2023, Coinbase received a full license in Singapore to expand the range of digital asset payment services available in the region.
The company was granted a complete major payment institution license in accordance with the Payment Services Act approximately one year following the preliminary approval from the Monetary Authority of Singapore (MAS). This approval places the company among over twelve other firms that have been licensed to provide digital payment token (DPT) services in Singapore.

Crypto Exchange Features and Details

Key Features

  • High limits and Free deposit/withdrawal (0% fee)
  • USDC Rewards (up to 4%)
  • Simple and Advanced trading tools
  • Send/Received crypto to multi-chain without need of bridging  (Ex: USDC can be sent to Ethereum, Solana, Polygon, Optimism)
  • Web3 wallet integrated to Coinbase (easy access to Web3 dApps)
  • Learning rewards - Coinbase.com/learn for education resources
  • Recurring buys for dollar-cost averaging strategy
  • In-app live chat support
  • Trusted by US Regulators as a result of going under scrutiny due to its IPO

Account Opening

  • Minimum Age Requirements: 18 Years Old
  • Documents Required: Singpass
  • Account Opening Fees: N/A
  • Funding Options: FAST, Paynow, and  Credit Cards/ Debit Card (Paynow is not yet live but will be live in a couple of weeks so if it takes you a few weeks to put this up you can keep it up. I can let you know once it is live.)
  • Account Minimum: S$1

Number of Listed Cryptocurrencies

  • 200+ including BTC, ETH, USD Coin, Solana

Purchasable with SGD

  • Supported

Number of Fiat Currencies accepted

  • 30+ Fiat Currencies Supported (globally)

Trading Fees

  • Maker fee: 0.00 - 0.4% and Taker fee: 0.05 - 0.6%

Deposit Fees

  • FAST Bank Transfer: Free
  • Credit/Debit card: 3.99%

Withdrawal Fees

  • FAST Bank Transfer: Free
...see more

Coinbase Crypto Exchange

200+
CRYPTOCURRENCIES
$0.99 to $2.99
TAKER FEES (FIAT)
Free
WITHDRAWAL FEES (FIAT)
3.99%
CREDIT OR DEBIT CARD FEES (FIAT)
Yes
MAS LICENSED OR EXEMPTED

Coinbase Crypto Exchange

200+

CRYPTOCURRENCIES

$0.99 to $2.99

TAKER FEES (FIAT)

Free

WITHDRAWAL FEES (FIAT)

3.99%

CREDIT OR DEBIT CARD FEES (FIAT)

Yes

MAS LICENSED OR EXEMPTED

Reviews (27)

4.4

27 Reviews

5
20
4
1
3
3
2
2
1
1

Service Rating

User Experience

4.5

Customer Support

4.2

      Posted 13 Aug 2023

      Purchased

      Coinbase Crypto Exchange

      [User Interface] Very easy to sign up. Very easy to use the app! [Trading Fees] It has one of the more competitive rates. [Crptocurrencies offered] Offers more than 200 listed coins. [Customer Service] Has yet to face issue such that I need to ask them for help. Which I think is a good thing? [Withdrawal Process] Smooth!! Are funds in coinbase safe? TLDR: Yes to a certain extent. Customer funds are NOT comingled with corporate funds as they are segregated into trust accounts with banks. (So it is nowhere like ftx). Which means if coinbase becomes insolvent, you can make a claim on your funds. BUT, the customer funds in the trust accounts are comingled. So, if something happens to the customer fund or to the bank with the trust account, you might not be able claim full value. The same probably applies to other exchanges. (please dyor to be sure) If worried, you can store majority of your digital assets in a hardware wallet, and use coinbase to buy/sell. =) Long Answer: Safeguarding. Fiat funds that are successfully loaded by users will be held by Coinbase SG in designated trust accounts opened with banks or other duly licensed financial institutions (each, a “Safeguarding Institution”). The funds will be held by Coinbase SG on behalf of its users and are segregated and maintained separately from Coinbase SG’s own corporate funds. You can make a claim for your funds held in the trust accounts even if Coinbase SG becomes insolvent. Any interest earned from the funds maintained in the trust accounts are payable to Coinbase SG and will not accrue to you. Your funds in the trust accounts are commingled and pooled with funds received from other users and are exposed to losses or shortfalls in the pooled funds. You acknowledge that you may not be able to recover the full value of your funds in the event of a shortfall in the pooled funds or the insolvency of the Safeguarding Institution. You confirm and agree, including for the benefit of the Safeguarding Institutions that: the trust account arrangements do not result in you being a party to any agreement with the Safeguarding Institutions, and you will have no right to enjoy or enforce any benefit under such agreement; the Safeguarding Institutions owe no obligation to you and you have no right to claim against the Safeguarding Institutions in relation to any services provided by the Safeguarding Institutions to Coinbase SG; and Your rights and obligations (if any) in relation to any services provided by Coinbase SG to you are exclusively against or to Coinbase SG only, and not against or to the Safeguarding Institutions. 4.14 Disclaimer. The Fiat Wallet is not a deposit or investment account which means that your funds will not be protected by the Deposit Insurance Scheme operated by the Singapore Deposit Insurance Corporation.

      0

      What are your thoughts?

      Posted 11 Aug 2023

      Purchased

      Coinbase Crypto Exchange

      Good stuff with the Singpass sign up flow, got my account in a few clicks. FAST and PayNow is intuitive to use as well just as I expected. Best of all I don't need to worry since they are a legit public company unlike other shady exchanges :D [User Interface] Simple and easy to understand, sign up with Singpass is a breeze!

      0

      What are your thoughts?

      Posted 26 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      Solid interface. Sign up process is also quick and fuss free, connecting with your Singpass. In the past, I have always been using Coinbase to monitor markets (real time price alerts and news update) and their learn to earn feature. Recently they started allowing deposits with FAST and withdrawals, top ups into the account are seamlessly instant, it is now my go to exchange for trades! No more brain wrecking how to get the funds out back to your bank. The mobile app is easy to navigate and user friendly which makes it easy for beginners to understand. Security is a top priority for me and Coinbase has been doing a great job in this aspect.

      0

      What are your thoughts?

      Posted 22 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      [Trading Fees] 0.4% on advanced trade, else its expensive. 0 fee buys/sells for USDC which is a good deal, and you get 4% interest on that. [Withdrawal Process] Free deposits and withdrawals, instant transfers! [Hidden Fees] The fees were clear, no hidden fees baked into the price. If you switch to advanced trade its actually decent.

      0

      What are your thoughts?

      Posted 21 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      [User Interface] Super delighted by the simple signup & purchase process!! I even taught my not-so-tech-savy parents to use it. They had been interested in diversifying their investment portfolio with some crypto for a long while but thought only the young folks who are "tech-natives" can do it. Thanks for making crypto so accessible! [Crptocurrencies offered] 4% APY on USDC is sooooo good! Prefer this much more over the 12 month FDs which locks up my money for too long.

      0

      What are your thoughts?

      Posted 20 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      It is my go-to exchange in Singapore. Coinbase is user-friendly and provides clear information about costs and fees. The recent introduction of free and instant SGD transfers (deposits and withdrawals) changed everything. Now, there's no longer a need to purchase with a card, (card buy is expensive and weekly amount limited). Finally, that has changed. The launch of a 4% APY on USDC is fantastic! There are no locking periods or minimum amounts required. This is even better than all the SG banks offering.

      0

      What are your thoughts?

      Posted 19 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      [User Interface] This is by far the most user-friendly exchange I have used. It works well on mobile (which is all I need since I am rarely on my computer). Buying and selling is easy, and even their advanced trading tools work very well too. I particularly like placing limit orders. [Cryptocurrencies offered] Everything you need is available. There's not much else to say. [Withdrawal Process] This is a big plus for me! The withdrawal process is completely free and instant. It's amazing. The same goes for SGD deposits. They are fast and free. I was able to start trading just 30 seconds after sending my money from DBS. So far, this has been the best experience I've had with a crypto exchange.

      0

      What are your thoughts?

      Posted 17 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      Well done Coinbase on the recent upgrade! Finally with Singpass integration and local bank / PayNow support with high limits as well. Probably the smoothest experience. I have been using crypto-com and Coinhako - both are not too bad either. But Coinbase is the only publicly listed company - at least everything is audited, so I decided to move all my assets there. At least I feel safer having my crypto in a listed company. [User Interface] Super simple and easy to use. [Withdrawal Process] Well done on the instant transfer and high limit, probably the best feature! [Customer Service] - reasonable response time. [Crptocurrencies offered] maybe the most comprehensive in the market.

      0

      What are your thoughts?

      Posted 16 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      [User Interface] Was easy to get started with singpass. Able to buy my first crypto in less than 5-6 mins [Trading Fees] Found that coinbase is waiving fees on USDC which made it quite economical [Crptocurrencies offered] Have most of the ones I was looking for. they are also giving 4% apy on USDC

      0

      What are your thoughts?

      Posted 16 Jun 2023

      Purchased

      Coinbase Crypto Exchange

      Been a Coinbase users since 2017. The app is not known to have the best customer support, but it does what is probably the most important thing in the volatile space: keeping assets safe. The interface is also easy enough to use, and has reliable fiat on/off ramp which is obviously important

      0

      What are your thoughts?

    Discussions (0)

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      Popular Products

      Understanding the risk of Cryptocurrency Platforms in Singapore:

      This product does not currently hold the licence to “provide digital payment token services” under the Payment Services Act (PS Act) by MAS. This product was previously granted an exemption since 28 January 2020 and is pending the licence to “provide digital payment token services” from MAS.

      The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before investing in any investment product.