Coinbase experience & test – cryptowallet suitable for casino players?

Information about Coinbase


Company Name: Coinbase Inc.
Year Established: 2012
Registered Office: 100 Pine Street, Suite 1250 San Francisco, CA 94111
Management: Brian Armstrong, Fred Ehrsam
Website: Coinbase
Available: In 100+ countries and more than 40 cryptocurrencies.

Coinbase is one of the most successful crypto wallets worldwide. Since its inception in 2012, the provider has traded more than USD 455 billion.

In total, the crypto wallet is used by over 100 countries covered. The number of active users has long since exceeded the 43 million mark.

All these facts speak for themselves and allow us to assume that it is one of the most reputable ways to acquire coins.

What makes Coinbase special are the two separate platforms. On the one hand, users are offered the opportunity to trade over 40 different cryptocurrencies cryptocurrencies. On the other hand, Coinbase Pro offers advanced users the option, trade coins.

The crypto wallet provider is based in San Francisco and is supervised by the SEC (United States Securities and Exchange Commission). The fact that deposits in the crypto wallet of customers are insured up to $250,000 speaks in favor of the provider in particular.

Info on the Coinbase share
Coinbase Share Price: IPO on April 14, 2021
Security identification numbers
ISIN: US19260Q1076
Symbol: COIN
More on Coinbase stock: " here

The company set a major milestone in April 2021. Because on 4/14. Coinbase became the first crypto company ever to be listed on the New York NASDAQ listed. The first day on the stock exchange ended with a closing price of 328.28 US dollars. This puts the company's total valuation at just under 100 billion dollars (over 84 billion euros).

A second milestone is being planned: CEOs Brian Armstrong as well as Fred Ehrmann are looking into creating their own stable coin (USDC) to develop.

Table of Contents

  • Advantages and disadvantages of Coinbase
  • Interesting Coinbase features
  • How Coinbase registration works
  • Coinbase limits and fees
  • Which cryptocurrencies are offered?
  • Coinbase Pro vs. Coinbase – the differences
  • Is Coinbase a publicly traded company?
  • Other important Coinbase facts
  • Conclusion about Coinbase in Australia

Advantages and disadvantages of Coinbase


  • Easy handling
  • Own insurance for assets
  • Registration in a few steps
  • Data matching without long waiting times
  • Real time deposit possible
  • Suitable for beginners
  • Sufficient selection of cryptocurrencies
  • High fees for credit card payments
  • Many information areas only in English
  • Customer service only in English
  • Few deposit methods available

Interesting Coinbase features

Relatively new is the Coinbase Debit Visa Card. However, it is only one of many features that the wallet has to offer its customers in the meantime. Since the official launch in 2012, a lot has actually happened here. Not only Australia benefits from this, but customers in more than 100 countries worldwide.

The most important features:

  • More than 40 digital assets available
  • User interface in Australian
  • Free mobile app with many functions
  • Attractive rewards program
  • Easy verification with Australian documents
  • Direct deposit by credit card possible
  • New: The Coinbase Visa Card from Paysafe Financial
  • Coins are insured up to 250,000 euros per customer
  • Extensive trading platform
  • Various lessons for beginners and advanced traders

In particular, the assistance has proven its worth. Thanks to Coinbase, anyone who has no idea what blockchain, crypto assets & co. are all about can learn it in simple video lessons and blog posts. step by step. In addition, there are more advanced lessons as well as pro tips.
Kevin Lanson – Casino Expert and Author

Not without reason, the provider is right after Binance the world's strongest trading exchange for cryptocurrencies. Strictly speaking, a differentiation is made between this product and the Coinbase Wallet. The latter is interesting for all those who buy coins, hold them and, for example, use them in online casinos with Bitcoin, Ethereum or the like.

How the Coinbase registration works

Once you open the website, the "first steps" section is about the registration necessary for deposits and crypto purchases necessary registration with the wallet. This is done in several steps. Here's how it works:

  1. Enter email address
  2. Enter full name
  3. The password must be secure is set yourself
  4. Coinbase sends a confirmation email. Simply click on the link.
  5. Now a mobile phone number is needed
  6. An SMS with a 7-digit code will follow
  7. Enter the code, log in – done!

After the first login is completed further verification steps must be completed. A deposit is only possible once the required document – be it ID or driver's license – has been received. The review usually takes a few minutes, although the company indicates waiting times of sometimes several hours.

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Before a registration can even take place, you are asked about your profession, income and the purpose of the wallet for security reasons. Coinbase obviously shows a sense of responsibility here.

Once this part of the authorization is completed, one can already deal with the offered payment methods. One of the options has to be stored in the account so that transactions also work smoothly in the long run. As we will explain in a moment, the selection of payment methods is very manageable.

Coinbase Limits and Fees

Both deposit and exchange (the exchange of real money into coins) come with a cost. On this point, Coinbase actually performs a little worse than its competitors Binance and Bitpanda. Although funds can be transferred via bank free of charge to the customer account but a transaction via MasterCard or Visa incurs a fee of 3.99%.

One advantage is that the minimum deposit amount has been set at just $1 – at least for two of the four available payment methods. The upper limit is 25,000 euros daily. The following methods can be chosen for deposits:

Payment method Fees Min / Max limit (per day)


0,22$ 1$ / 25.000$

sepa-direct debit

free of charge 1$ / 25.000$


3,99% 10$ / 25.000$


3,99% 10$ / 25.000$

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Good to know:
Withdrawals cannot be made on MasterCard. This leaves only three alternatives as well as the in-house Debit Visa Card, which we will discuss in more detail in the course of our test. The prepaid credit card allows access to coins and direct local payments without having to transfer funds.

Which cryptocurrencies are offered?

When cryptos are mentioned, most people automatically think of bitcoin. However, this is not the only one offered on Coinbase; there are a total of more than 40 digital assetswhich are especially interesting for those who want to invest money for the long term and wait for the price.

For casino players, Bitcoin Cash (BCH), Litecoin (LTC) or Etherum (ETH) are recommended in addition to Bitcoin. These coins are the most common in the industry. Here are some of the currencies provided by Coinbase:

Digital Assets Available at Coinbase (Selection).
Bitcoin Ethereum Zcash Tezos
Bitcoin Cash Ethereum Classic Dash Coin
Litecoin EOS Filecoin

Once the account is set up and verified, the first thing that needs to be done is, as mentioned, a Real money payment method can be selected. Afterwards, users on Coinbase will see a clear list of all available cryptocurrencies. The daily limit is 25,000 euros, so that larger investments are definitely possible.

The coin "underdogs", which are available alongside more well-known currencies, are preferably bought by experts in the field. On the other hand, those who only want to deposit in the online casino with cryptos can usually limit themselves to a few coins. It is best to make the exchange dependent on which casino has been chosen and how the acceptance of digital assets is there.

Coinbase Pro vs. Coinbase – the differences

For those who only want to deposit with cryptocurrencies into the online casino, Coinbase is perfectly adequate. Differences to Coinbase Pro, which is also available, can be seen clearly at first glance.

While the wallet as such has a very simple structure and is therefore especially suitable for beginners who only want to buy coins, Coinbase Pro is preferably aimed at experienced crypto traders as well as to all those who plan to trade with their coins on the stock exchange.

Basically, the basic version of Coinbase is recommended for all beginners. If you like, you can of course also try Coinbase Pro at a later stage. For both platforms, one and the same, fully verified customer account is sufficient.

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A great commonality:
Independent apps are available for both Coinbase and Coinbase Pro – aimed at Android and iOS users. These can be obtained free of charge via the respective store.

Is Coinbase a listed company?

Yes, since 4/14/2021 Coinbase is listed on the New York NASDAQ. This was not a classic initial public offering, but rather a direct placement. Already in mid-2021, the company announced the planned step. This goal officially became louder in January 2021. Now the crypto exchange made the historic leap: Coinbase is actually the first and so far only crypto wallet to be listed on the stock exchange.

After the starting price of 381 dollars (with a reference price of $250), the closing price on the first day was $328.28 US.

The Coinbase share has the following Security identification numbers:

  • ISIN: US19260Q1076
  • WKN: A2QP7J

Video with CEO Brian Armstrong on Coinbase's mission, vision and strategy.

Other important Coinbase facts

  1. Lucrative bonus program
  2. The Coinbase app – advantageous thanks to simple setting
  3. All cryptos best protected by insurance
  4. These Coinbase alternatives are suitable for buying digital assets
  5. Paysafe Financial Group launches Coinbase credit card on the market
  6. Coinbase Pro – trading for advanced users
  7. My Coinbase account is restricted – what should I do?

1.) Lucrative bonus program

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Referring friends pays off at Coinbase. At least that's what the website promises, which provides the following information for customers:

"Do you know someone who is interested in cryptocurrencies? You'll both get bitcoins worth $8.22 if you both buy or sell up to $82.16 or more on Coinbase."

In the long run, it may well be worth recommending the wallet to friends, relatives and acquaintances. The minimum purchase of $82.16 is reached quite quickly. Directly afterwards, the promised credit in the form of BTC is made to the corresponding area.

Consequently, the more recommendations are made, the faster the account fills up with rewards. After all, we are talking here about about 10% profitwhich can be achieved. To do this, you do not need to do anything more than send an invitation by e-mail. The form on the page directly contains the necessary link, through which everyone who receives the message can directly register themselves. There is no limit.

2.) The Coinbase app – advantageous thanks to simple setting.

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It takes a few seconds to start the Coinbase-provided app for Android or iOS to download. If a customer account has already been created on the desktop, one can conveniently log in with the selected credentials. As on all devices, verification takes place in 2 steps. This means that a 7-digit code for access is generated again and sent to the device via SMS.

In the second step, Coinbase sends an e-mail. This also has to be confirmed before the app can be used completely. Overall, the dashboard offers a pleasant overview – first and foremost with current coin prices and news about cryptocur about cryptocurrencies and blockchain.

Prices, settings and the portfolio can be found at the bottom. Transactions are thus possible in just a few stepsand also the exchange of real money currency into coins works without any effort.

3.) All cryptos are protected in the best possible way by insurance

Coins are managed here as hot storage online as well as offline cold storage (around 98%). This allows the company to insure a large part of the deposits. The hot servers are also protected according to the latest standards. The liquidity needs of all customers are also fully covered.

If there were actually an attack on the hot storage, the balance would be covered by the said insurance. covered by the aforementioned insurance. This fact alone gives a feeling of security and is ultimately another aspect that speaks in favor of registering as well as purchasing cryptocurrencies on Coinbase.

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To explain: Hot wallets such as Binance or even the small share at Coinbase refer to cryptocurrencies that are managed online. However, where there is a connection with the outside world, there is always a risk of hacker attacks.

Cold wallets or cold storages refer to the holding of coins outside the network, i.e. decentrally. This can be done via a USB stick, for example. The best-known cold wallets besides Coinbase are Exodus and Ledger. The latter offers its own stick for decentralized storage of all coins. Alternatively, many companies offer the possibility to hold paper wallets, i.e. to "print out" the coins.

4.) These Coinbase alternatives are suitable for buying digital assets

In the meantime, the cryptowallet has has made a name for itself worldwide. However, Coinbase is not alone in this, because other companies have also dedicated themselves to the exchange and trade of digital assets. If you are looking for alternatives in Australia, you will find them, for example, in



In our expert tests, we specifically address the special features of these two alternatives and show how they differ from Coinbase. The big commonality, by the way, is the Providing digital lessons, which makes it easy to learn more about the blockchain space, different coins, and trading.

5.) Paysafe Financial Group launches Coinbase credit card

Our initial suspicions that Coinbase might be part of the Paysafe Financial Group have not been confirmed. Rather, the crypto exchange has entered into a cooperation with the company whose best-known payment product is the Paysafecard.

Together, the groups have since launched a Debit Visa Card for Coinbase developed. This allows customers to pay locally with their coins. The conversion into real money takes place automatically during the payment. It is also possible to withdraw cash from ATMs.

Initially, the Coinbase credit card was available in the UK. This was quickly followed by other countries such as Austria, Belgium, Croatia and Denmark.

For customers from Australia, there is now also the option to apply for a card. On the wallet's website, users will find a detailed list of fees – including the flat fee in the amount of 4.95USD for the creation of a plastic card.

6.) Coinbase Pro – trading for advanced users.

If it's just about buying coins to deposit them in a casino, for example, the basics are sufficient. In addition to the wallet, however, Coinbase offers additionally a trading platformwhich is especially suitable for experienced users.

Offered are daily updated charts as well as all coins mentioned above. As expected, the trading itself is risky and therefore especially recommended for advanced users. Those who want to get to grips with the matter will find appropriate help on the Coinbase website.

7.) My Coinbase account is restricted – what should I do?

As long as a full verification of the account has not been completed, the Coinbase account is generally restricted. Accordingly, it is important to provide your driver's license or an identification document as a photo – easiest via Coinbase App – to upload. The verification can only be done in the country where the document is issued. So if you move abroad, you will have to go through the entire steps again.

It is to be expected that the data reconciliation will take may take several days. take several days. If the points are completed and there are still problems with transactions, it helps to contact Coinbase customer service directly. Sometimes financial supervisory authorities in Australia may be responsible for this. Which steps are then necessary depends on the individual case.

Conclusion about Coinbase in Australia

As far as the security of purchased cryptos is concerned, Coinbase is in no way inferior to its competitors. The insurance of deposits is certainly one of the biggest advantages. There is also little reason for criticism in terms of handling. Less optimal, however, are the information pages, which are often only available in English.

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In terms of support, Coinbase definitely has some catching up to do. Although very detailed FAQs and the e-mail contact via the form is basically well thought-out thanks to a comprehensive topic pre-selection. Unfortunately, however, there is a lack of English-speaking employees. The stated hotline is from the USA, so a phone call would certainly be very expensive.

In general, questions should arise rather rarely, since the individual areas are well structured and easy to understand. are easy to understand. Accordingly, Coinbase offers a thoroughly successful alternative to Binance or even Bitpanda.



Author: Kevin LansonRated: CoinbaseAuthor Rating: ⭐⭐⭐⭐⭐98%