What Is Coinbase?
Coinbase is a major platform for buying, selling, transferring, and storing cryptocurrencies. It serves millions of users worldwide and provides a variety of services tailored to individual users and institutions.
Company Background
Coinbase was founded in 2012 in San Francisco by Brian Armstrong and Fred Ehrsam. It quickly grew to become the largest US-based cryptocurrency exchange and one of the world’s biggest platforms for bitcoin custody. By 2024, Coinbase had over 100 million users and operated in more than 100 countries. The company started as a simple bitcoin trading platform but expanded its services significantly over time. Today, Coinbase operates as a remote-first company without a physical headquarters.
Its financials reflect strong growth, reporting revenues above $6 billion in 2024. Leadership includes Brian Armstrong as CEO and Emilie Choi as President and COO. The company is publicly traded on Nasdaq under the ticker COIN.
Core Services
Coinbase offers multiple services for different user needs. The main app allows easy buying and selling of cryptocurrencies. For experienced traders, Coinbase Pro provides advanced trading tools. Coinbase Wallet lets users store and manage their own crypto assets securely.
Coinbase also has services designed for institutions, such as Coinbase Prime and Coinbase Custody. These provide higher security and market features for professional investors. Additional offerings include the Coinbase Card for spending crypto and Coinbase Earn, which helps users learn about cryptocurrencies while earning small rewards.
Security measures include insurance on stored assets and a vault system designed to protect users’ funds.
Supported Cryptocurrencies
Coinbase supports over 240 different cryptocurrencies as of 2024. Popular coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Solana (SOL) are available. However, not every cryptocurrency is listed due to regulatory and security considerations.
The platform regularly adds new tokens, including Ethereum ERC-20 tokens, and focuses on maintaining compliance with US and international regulations. This conservative approach makes Coinbase a preferred exchange for users looking for legal and secure trading options.
Coinbase holds nearly 12% of all existing bitcoins and about 11% of staked Ether, showing its significant influence in the crypto market.
Coinbase Platform Features
Coinbase offers a variety of tools for buying, selling, and trading digital assets. It supports a wide range of cryptocurrencies and provides users with a secure and regulated environment. Its platform is designed to serve both casual investors and more experienced traders.
Buy and Sell Digital Assets
Users can easily buy and sell popular cryptocurrencies like Bitcoin, Ethereum, and many others on Coinbase. The platform supports fiat currency deposits, allowing users to purchase crypto with pounds, dollars, or euros. Transactions are straightforward, with clear pricing and fees shown before confirmation.
Coinbase Wallet lets users keep their crypto in a personal wallet, offering full control over funds. It also allows exploring decentralised finance (DeFi) options and trading non-fungible tokens (NFTs). The interface is simple enough for beginners to navigate, with optional advanced features for experienced users.
Coinbase Exchange
Coinbase Exchange is aimed at traders looking for more tools and lower fees. It supports more complex order types and offers tighter spreads than the basic platform. The exchange does not require downloadable software, as it operates fully online.
It provides real-time market data, charting tools, and faster execution speeds. Accounts on Coinbase Exchange and the standard Coinbase platform can be linked, allowing users to shift easily between simple buying and active trading. This exchange is suitable for users who want to take greater control over their trades.
Token Sales Platform
The new token sales platform allows individual investors to buy digital tokens before they are listed publicly. Investors submit purchase requests during a one-week window, and tokens are allocated using an algorithm for fairness.
Coinbase plans to hold about one token sale each month, starting with offerings from blockchain startups like Monad. Purchases are made using USD Coin, a stablecoin. Future updates will add features such as limit orders and higher allocations for priority user groups.
This platform marks a return to public token sales in the US, regulated and structured to protect investors better than the early initial coin offerings (ICOs) of 2017.
Security and User Protection
Coinbase uses several layers of security to protect user accounts and funds. It combines advanced technology with strict policies and ongoing improvements. The company focuses on blocking unauthorised access and protecting personal data.
Account Security Measures
Coinbase requires two-factor authentication (2FA) for all accounts. It supports security keys and time-based one-time passwords (TOTP) to strengthen login protection. Users are encouraged to use strong, unique passwords and enable biometric logins where possible.
The platform separates customer support systems from financial custody systems. This means personal information access does not give control over crypto funds. Additional safeguards include transaction previews and wallet auto-lock features to prevent unauthorised transactions.
Regular security audits and continuous threat monitoring help Coinbase address new vulnerabilities. It also offers educational resources to help users identify phishing and social engineering attacks.
Recent Cyber Attacks and Responses
In 2025, Coinbase faced a data breach involving bribed customer service agents. Nearly 70,000 accounts had personal details exposed, though cryptocurrency assets stayed secure. The attackers demanded a $20 million ransom, which Coinbase refused to pay. Instead, the company offered a $20 million reward to catch the perpetrators.
After the breach, Coinbase strengthened monitoring systems, introduced biometric access options, and opened a US-based support centre to reduce reliance on offshore contractors. They enhanced user alerts for suspicious transactions and increased education about social engineering scams.
Customer Data Protection
Coinbase encrypts personal data and limits access within its systems. Despite the 2025 breach, the company’s separation of data and custody systems ensured private keys remained secure. Only masked and partial information, like the last four digits of Social Security Numbers, was exposed.
Coinbase improved insider threat management by restricting employee remote access and increasing surveillance of internal activities. The company also created reimbursement programmes to assist users who lost funds from phishing attacks connected to the stolen data.
Strict regulatory compliance and transparency guide Coinbase’s approach to safeguarding customer information, especially in the US market.
Getting Help on Coinbase
Coinbase offers several ways for users to find answers or contact support depending on their needs. Help is organised around specific topics and products, with multiple support channels available for quick assistance.
Help by Topic
Users can find detailed information grouped by common issues. These topics include getting started, account management, payment methods, and fraud or security concerns. Each category breaks down into specific guides and troubleshooting steps.
This structured approach helps users quickly locate solutions for problems like password recovery, identity verification, and transaction questions. It reduces the need to contact support directly for common issues.
Help by Product
Support is also tailored to Coinbase’s products such as the exchange platform, wallet, and staking services. Users can select the relevant product to get targeted help.
This ensures the advice or instructions match the exact service involved. For example, instructions for using Coinbase Wallet differ from buying cryptocurrency on the exchange. This product-specific help streamlines problem-solving.
Account Support Channels
Coinbase provides multiple ways to contact customer support: live chat, email, or phone. Live chat and requesting a call are often the fastest options but may not be available in all regions.
If users cannot sign in or have lost account access, they can email Coinbase for help with account recovery. Complaints can be filed through a formal process on the support site.
Contact steps:
- Sign in to help.coinbase.com
- Choose the problem category
- Select live chat or call option under Contact us if available
Support is available 24/7 through chat, phone, and email, with mail support during business hours.
