Overview
Coinbase is widely considered the easiest entry point into cryptocurrency. Its clean interface, extensive educational resources ("Learn to Earn"), and publicly traded status (NASDAQ: COIN) provide a level of trust that few competitors can match. Users can also access the Coinbase Wallet for self-custody.
The Wild West of Finance
What is Cryptocurrency?
Digital money that isn't controlled by a bank or government. Bitcoin is the digital gold standard, while things like Ethereum act more like a global computer.
Self-Custody vs Exchanges: Storing crypto on an exchange (like Coinbase) is easy but if they go bust, you might lose it. "Self-custody" (like Zengo) means YOU hold the keys, but if you lose your phone/backup, it's gone forever.
High Risk Warning
Crypto is unregulated in the UK. If you invest in crypto assets, you should be prepared to lose all the money you invest. There is no FSCS protection, and refunds are rare if you get scammed. Prices can swing wildly in a single day.
Pros
- ✓ Usability: Extremely intuitive interface for beginners.
- ✓ Education: Earn crypto rewards while learning about blockchain.
- ✓ Ecosystem: Seamless integration with Web3 wallet and NFT marketplace.
- ✓ Security: Publicly traded company with robust security measures.
Cons
- ✕ Fees: Standard fees are notoriously high unless using "Advanced Trade".
- ✕ Support: Customer support can be slow to resolve complex issues.