Despite a limited number of coins and higher fees than some other exchanges, Coinbase is the top choice for many cryptocurrency enthusiasts who want security on a user-friendly platform. Moreover, the exchange is available in most countries in Europe and can be linked to bank accounts. For advanced trading features, users can switch to the Coinbase Pro solution.
Moreover, the company is a member of several trade associations and adheres to the strictest standards when it comes to data protection. The company uses physical, electronic and procedural safeguards to protect user funds. Its security systems include a multi-stage verification process for each new account, a dedicated security team and an extensive auditing programme. Learn more
Additionally, the exchange has insurance that covers digital assets in case they get stolen. This is a major plus in a market where there have been reports of crypto exchanges going bust, and the value of cryptocurrencies can drop dramatically.
Is Coinbase Safe in the UK? Security & Regulation Review
In the UK, Coinbase is regulated by the Financial Conduct Authority (FCA). Users can fund their account with a variety of fiat currencies including USD, GBP, EUR and CAD. The company also supports a wide range of digital assets and has a mobile app that makes it easy to buy and sell cryptocurrency on the go.
Upon opening an account with Coinbase, you’ll be asked to provide identity documents. Providing clear, concise copies of these will speed up the process as well as reducing the chances that you’ll be asked to repeat the process. If possible, it’s best to verify your identity through the mobile app as it gives you access to your camera for a clearer photograph of your ID documentation. Using this method can also help you avoid fraudulent activity by making it more difficult for attackers to impersonate you.