Coinbase

A Casino Player’s Guide to Coinbase

Coinbase is a trusted US-based cryptocurrency exchange, offering an easy-to-use way to buy and sell a range of cryptos. In terms of volume traded, it is the biggest US-based exchange. In this guide, we’ll show you how to open an account, buy crypto, transfer it to an online casino, and make withdrawals.

About Coinbase Crypto Exchange

Coinbase was founded back in 2012 by Brian Armstrong – a former engineer with Airbnb. It attracted significant funding in later 2013, enabling it to expand rapidly. Within a year, Coinbase had signed up a million users and in 2015 expanded beyond the US to Canada and Singapore. 

Today, Coinbase serves over 98 million users in over 100 countries and employs nearly 5,000 people – most of whom operate remotely. Interestingly, it has no corporate headquarters but is still officially based in the US, and in April 2021 became a public company on the Nasdaq exchange. 

CryptoSpinners has taken Coinbase for a thorough test drive, and in this review, we’ll explain how to open an account, buy crypto, transfer it to your online casino, and make withdrawals.

Brian Armstrong, CEO and founder of Coinbase
Brian Armstrong, CEO and founder of Coinbase (image credit: Coinbase)

Countries and Regions Served

As of July 2022, coinbase.com offered crypto buying and / or exchange services to residents in the following countries and territories:

AFRICAASIAEUROPE
AngolaBahrainAndorra
BeninBruneiArmenia
BotswanaHong KongBelgium
CameroonIndiaBulgaria
GhanaIndonesiaCroatia
KenyaJapanCyprus
MauritiusJordanCzech Republic
NamibiaKazakhstanDenmark
RwandaKuwaitEstonia
South AfricaKyrgyzstanFinland
TunisiaMacaoFrance
UgandaMaldivesGermany
ZambiaMongoliaGibraltar
NORTH AMERICANepalGreece
ArubaOmanGuernsey
BahamasPhilippinesHungary
BarbadosSingaporeIceland
BermudaTaiwanIreland
CandaUzbekistanIsle of Man
Costa RicaOCEANIAItaly
CuracaoNew ZealandJersey
Dominican RepublicSOUTH AMERICALatvia
El SalvadorArgentinaLiechtenstein
GuatemalaBrazilLithuania
HondurasChileLuxembourg
JamaicaColombiaMalta
MexicoEcuadorMonaco
NicaraguaParaguayMontenegro
PanamaPeruNorway
Trinidad and TobagoUruguayPoland
United StatesPortugal
Virgin Islands, BritishRomania
San Marino
Serbia
Slovakia
Slovenia
Spain
Sweden
Switzerland
Turkey
United Kingdom

Is Coinbase Secure?

Coinbase has a very good reputation regarding security. As with any online exchange, it is impossible to guarantee a site is totally secure, but Coinbase have demonstrated their commitment to customers’ security. 

For example, in October 2001, a sophisticated phishing attack enabled hackers to steal crypto from at least 6,000 Coinbase users. However, the exchange rapidly secured the accounts, refunded all customers, and further enhanced security measures. The Coinbase security team has also notably thwarted several other extremely sophisticated hacking attempts. 

Because Coinbase is based in the United States, it is overseen by federal regulatory bodies, and has to comply with the strictest security standards.

Locked padlock on top of laptop keyboard.

Creating an Account with Coinbase

Opening an account with coinbase.com is easy, though you do need patience for the verification processes – just follow the steps below:

  1. Go to coinbase.com and select Sign Up.
  2. Enter your email, select a strong password, and set your country of residence.
  3. Complete the personal information form and submit it.
  4. You will need to verify your email address. 
  5. As directed, upload a recent bank statement, credit card statement, or utility bill to verify your address. Verification can take a while – you’ll be emailed when it’s completed. 
  6. Follow the instructions to take / upload a picture of your driving licence, passport, or official ID card. Verification can be slow – you’ll get an email when it’s done. 
  7. Sign-in and answer the short questions about employment etc. 
  8. To complete account set-up, you will need to add bank card details. 

Each stage of the process takes just a few minutes, but you may have to wait for several hours for each verification process.

Coinbase account home screen.

How to Deposit at Coinbase

At Coinbase you can either add funds to your account using a bank account that supports SEPA, or make one-time purchases using your Visa or Mastercard.  

To deposit fiat funds to your account, select Deposit Funds. All the details you need to make a SEPA bank transfer will be provided (Reference Number, IBAN, Bank Name, Address, SWIFT/BIC etc). Use the copy function next to each field to ensure you don’t make a mistake when setting up your payment. 

Bank transfers can take up to 3 business days to clear and arrive in your Coinbase account.

Supported Fiat Currencies

  • Euro (EUR)
  • Pound Sterling (GBP)
  • US Dollars (USD)

How to Buy Crypto at Coinbase

To buy crypto at Coinbase, just select ‘Buy Crypto.’ 

Next, select which cryptocurrency you would like to buy, for example bitcoin (BTC) or ether (ETH), and how much. You can choose a one-time purchase, or set a regular daily, weekly, bi-monthly, or monthly transaction. 

Finally, choose which payment method you would like to use (Visa / Mastercard, or account balance). Review your order, confirm it, and complete any security verifications. Your crypto will be added to your account balance.

Cryptos Available at Coinbase

Coinbase supports thousands of crypto assets, including:

Bitcoin (BTC)Ethereum (ETH)Ethereum 2(ETH2)Tether (USDT)USD Coin (USDC)
BNB (BNB)Binance USD (BUSD)XRP (XRP)Cardano (ADA)Solana (SOL)
Dogecoin (DOGE)Dai (DAI)Polkadot (DOT)TRON (TRX)SHIBA INU (SHIB)
Avalanche (AVAX)Polygon (MATIC)UNUS SED LEO (LEO)Wrapped Bitcoin (WBTC)Uniswap (UNI)
Litecoin (LTC)FTX Token (FTT)Crypto.com Coin (CRO)Chainlink (LINK)Stellar Lumens (XLM)
NEAR Protocol (NEAR)Cosmos (ATOM)Monero (XMR)Algorand (ALGO)Ethereum Classic (ETH)
Bitcoin Cash (BCH)Internet Computer (ICP)VeChain (VET)Decentraland (MANA)The Sandbox (SAND)
Tezos (XTZ)ApeCoin (APE)Hedera (HBAR)TrueUSD (TUSD)Filecoin (FIL)
Elrond (EGLD)Theta Network (THETA)Axie Infinity (AXS)Aave (AAVE)Helium (HNT)
Quant (QNT)Bitcoin SV (BSV)Paxos Standard (PAX)EOS (EOS)KuCoin Token (KCS)
Maker (MKR)Zcash (ZEC)BitTorrent (BTT)Neutrino USD (USDN)OKB (OKB)
IOTA (MIOTA)eCash (XEC)USDD (USDD)THORChain (RUNE)Huobi Token (HT)
Klaytn (KLAY)The Graph (GRT)Fantom (FTM)Chiliz (CHZ)Neo (NEO)
PAX Gold (PAXG)Basic Attention Token (BAT)Curve DAO Token (CRV)STEPN (GMT)Waves (WAVES)
Stacks (STX)Loopring (LRC)Zillliqa (ZIL)Dash (DASH)PancakeSwap (CAKE)
Enjin Coin (ENJ)Fei USD (FEI)Arweave (AR)Kusama (KSM)Convex Finance (CVX)
Mina (MINA)Celo (CGLD)Amp (AMP)TerraClassicUSD (UST)Kava (KAVA)
Compound (COMP)NEM (XEM)Holo (HOT)Nexo (NEXO)XDC Network (XDC)
Gala (GALA)1inch (1INCH)Decred (DCR)GateToken (GT)Synthetic Network Token (SNX)
CEEK VR (CEEK)Gnosis (GNO)Symbol (XYM)Kadena (KDA)Qtum (QTUM)
Coinbase cryptocurrency price list

How to Transfer Crypto from Coinbase to an Online Casino

So, you’ve got some crypto in your Coinbase wallet, say bitcoin (BTC), and you want to transfer it to a crypto casino? Follow these steps:

  1. Log-in to your online casino account and select deposit bitcoin (BTC). Find the unique crypto wallet address. Copy it to your clipboard. 
  2. Log-in to your Coinbase account and click Send
  3. Enter the amount and type of crypto you would like to send, and then paste the casino wallet address into the To field. Click Continue. 
  4. Carefully review the transaction, double checking the address, and confirm. 
  5. Complete any security verification steps. 

Bitcoin transactions can take 30 minutes or so, and can be delayed if the network is busy or the exchange needs to conduct further security checks. When complete, your BTC will be in your casino wallet.


How to Transfer Crypto to Coinbase and Withdraw it as Cash

To transfer crypto from your casino wallet to your Coinbase wallet, just go to the withdrawals section and enter the address of your Coinbase wallet (you can find this on your account). Specify the amount you would like to transfer, and double check the details before confirming.

If you’d like to withdraw funds from your Coinbase account to your bank or card, you’ll first need to convert crypto into fiat. 

  1. Log-in to your Coinbase account and select Sell.
  2. Now, select the transaction’s cryptocurrency, amount, and fiat currency. Follow the prompts, and complete any verification steps.
  3. Your fiat currency from the crypto sale will appear in your account balance. You can now withdraw fiat funds from your account to your bank or card. Select the appropriate options and follow the prompts. 

Note that withdrawals to bank accounts can take several business days to complete.

Bitcoin, Euros and US Dollars.

Coinbase Transaction Fees

  • Coinbase charges a flat 1% fee on all crypto transactions.
  • Fees to transfer cryptos from Coinbase vary depending on network and congestion – the specific fee quote is clearly provided for each transaction.
  • Cash deposit fees:
    • ACH – Free
    • Wire (USD) – $10 USD
    • SEPA (EUR) – €0.15 EUR
    • Swift (GBP) – Free
  • Cash withdrawal fees:
    • ACH – Free
    • Wire (USD) – $25 USD
    • SEPA (EUR) – €0.15 EUR
    • Swift (GBP) – £1 GBP

Coinbase Customer Support

Support is accessible by clicking Help on your profile menu (under your avatar/photo). A range of guides and useful articles are available, covering everything from buying, selling and using crypto to the coinbase wallet and NFTs. 

If you can’t find what you’re looking for, scroll down and you can select Contact Us. You can either message via live chat, or phone (US, UK, Irish, and Indian phone numbers are provided). Support is responsive and professional and seems able to solve most issues quickly. 

Coinbase.com is available in several languages, including:

  • English
  • German
  • Japanese

Conclusion

Coinbase is a good choice for those new to crypto casinos, looking to easily and securely acquire crypto – especially if you’re based in the US or UK. It has a good selection of cryptocurrencies (though not as many as Binance) and even offers a stand-alone wallet. 

The only real downsides to Coinbase are its clunky, slow onboarding process (each verification step can take a while), and relatively high fees. If we’re being picky, we’d also say the design of the Coinbase site is less intuitive than Binance or Kraken. 

All things considered, Coinbase is one of the safest choices for crypto casino players, and it’s probably worth opening an account, even if you already have accounts with other exchanges.

Happy man holding thumbs up in approval.

Frequently asked questions

Coinbase has no physical headquarters, but is based and listed in the USA. 
Coinbase fees can be relatively high, but this very much depends on what kind of transactions you make - for example, how you deposit and withdraw cash.
In order to make withdrawals, you’ll need to have completed all required identity verification procedures, and provided valid bank or card details.