Is Coinbase Legitimate and How Does It Work?

Joining or using any online platform, especially one related to finance or cryptocurrency, often prompts questions about its legitimacy. As a trusted and widely-used platform, Coinbase is no exception. This article aims to address common concerns about how Coinbase operates and whether it is a legitimate platform to use.

How Does Coinbase Work?

When you decide to become a member of Coinbase, the process is straightforward. Similar to any membership-type website, you simply need to register, verify your email, and then login. Once inside, you will have access to a plethora of information and resources that can help you better understand how to use the platform effectively.

Why is this process important for security? By requiring you to verify your email, Coinbase ensures that the account is associated with a real person, reducing the risk of unauthorized access. This step is crucial for maintaining the integrity and security of your account and all the transactions you make.

Is Coinbase Legitimate?

The legitimacy of a platform is often gauged by its security measures, partnerships, and overall reputation. For the past decade, Coinbase has demonstrated its commitment to these aspects.

Coinbase is indeed legitimate. To support this, it's important to note that the platform has been in operation since at least 2013, which is a testament to its longevity and stability. The platform's reliability and security are further underpinned by its partnerships with reputable websites such as TradingView, Cryptohopper, and Roundlyx. These partnerships are formalized through contracts, which means they trust Coinbase to provide the necessary services and integrations that enhance their own offerings.

Furthermore, these partnerships serve as a validation of Coinbase's legitimacy in the industry. If these established platforms trust Coinbase and rely on its services, it is reasonable for individuals to also trust Coinbase.

What Happens if You Join Coinbase?

Once you've completed the registration and verification process, you'll be able to explore the Coinbase platform. The platform is one of many exchanges, which means it relies on APIs to gather data from other exchanges for a comprehensive view of the market. For instance, Coinmarketcap uses API software to get the necessary data from exchanges to display accurate and up-to-date information on their website.

Discovering the vast ecosystem of exchanges can be eye-opening. Here is a list of exchanges that Coinbase interfaces with, providing users with a wealth of information:

Binance Kraken Coinbase Pro Poloniex Gemini Bittrex Nexo

By accessing such a broad range of exchanges, Coinbase offers users a comprehensive and diverse marketplace for buying, selling, and managing cryptocurrencies. This interconnected network ensures that users can stay informed about market trends and make informed decisions.

Are you curious about the numerous exchanges available or looking for more information about how Coinbase operates? Utilize the resources and features provided by Coinbase to dive deeper into the world of cryptocurrency.