Coinbase, the largest US-based cryptocurrency exchange, has become a popular platform amongst newcomers to crypto and those looking for a streamlined platform. Many use it as a way to sell Bitcoin. However, the platform is also known for high fees, and it can take days before your money arrives in your bank account.
We will examine the pros and cons of selling your Bitcoin with Coinbase. We’ll also look at what other coinbase alternatives you can use to sell your Bitcoin in an instant quickly
Founded in 2012, Coinbase is a leading US cryptocurrency exchange with over 103 million verified users. It operates in 100 countries worldwide and handled $830 billion in transactions in 2022. It supports over 250 cryptocurrencies and has various trading and investing options to suit amateur traders and institutional clients
Coinbase is one of the easiest-to-use platforms with a Simple trading view for any users new to Bitcoin and retail traders. This has made it a popular choice among many Bitcoin holders looking to buy or sell. It also offers an Advanced trading view for institutional investors with a wide range of features.
However, the fee schedule on Coinbase can be complex. At a baseline, Coinbase charges a minimum of 1% on all transactions. However, different transactions will incur higher fees based on “a combination of factors, including but not limited to your location, the selected payment method, the size of the order, and market conditions such as volatility and liquidity.” Furthermore, although you’ll be presented with the total fees at the time of selling, they don’t offer a detailed breakdown. As a result, the total cost may vary between 1% to 3.99%. These hidden fees can make selling crypto on Coinbase quite expensive.
Coinbase has also come under criticism for halting withdrawals and poor customer service. They have halted withdrawals and deposits several times over the past few years. Many users have been unable to contact a human customer support service during those periods.
A popular choice for many newcomers to Bitcoin, Coinbase has many features that suit retail and institutional traders. However, the cost of transactions can be challenging to track, and hidden fees can make selling your Bitcoin quite costly. In addition, selling Bitcoin on Coinbase, like any exchange, involves multiple steps, including transferring to Coinbase, trading, selling, and transferring to a bank account. Even then, many banks block transactions from exchanges for security reasons.
Let’s look at the pros and cons of Coinbase as a platform for selling Bitcoin:
Selling Bitcoin shouldn’t be so difficult. That’s why we’ve created Bringin which can be a perfect Coinbase alternative, a solution that lets you sell your Bitcoin instantly at low fees directly to your bank account.
Our app is easy to navigate and lets you buy or sell Bitcoin in just a few clicks—no complex multi-step process or days of waiting for your transaction to clear. Furthermore, we charge a fixed fee of 1%—no hidden fees or complicated fee schedule.
We offer two ways to sell your crypto:
Selling Bitcoin should be easy and fast. So let’s look at how you can spend Bitcoin through Bringin.
When you open an account with Bringin, you must complete a simple verification process. Once you’ve completed this check, you can start selling your crypto immediately. Here’s how:
1) Choose the Bitcoin payment method – on-chain or lightning
2) Choose the withdrawal method – Virtual debit card or Bank withdraw
3) Pay the invoice, and that’s it.
You will receive Euro in your bank account in a minute if the beneficiary bank account supports SEPA instant.
And that’s it!
A simple, no-fuss, reliable Coinbase alternative to selling crypto on that saves you money and time.
Contact us at [email protected]
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