Is Coinbase available in New Zealand? Is Coinbase safe? - Kalkine Media

July 27, 2021 01:16 PM AEST | By Jasmine Anand
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Summary

  • Coinbase is regarded as one of the most popular cryptocurrency exchanges across the globe, offering services in the Kiwi land too.
  • With an easy to operate website and app, Coinbase supports numerous payment options.
  • Coinbase ensures the safety and security of the user's crypto assets and is regarded as one of the safest crypto trading platforms in the world.

Founded in 2012 in the US, Coinbase is one of the most advanced and leading cryptocurrency exchange platforms across the globe, enabling consumers, merchants as well as traders to deal in digital currencies.

Interesting Read: COIN Stock: All You Need To Know About Coinbase’s Nasdaq Debut

Initially, Coinbase only allowed Bitcoin trading, but with the growing popularity of numerous other cryptocurrencies, it soon added other digital currencies like Enthereum, XRP, Litecoin, Bitcoin Cash, etc. to its kitty.

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Currently, this platform boasts of about 56 million verified digital assets users spread across in more than 100 nations that use Coinbase for trading in various crypto assets.

Read: A look at top 5 cryptocurrencies in New Zealand

Coinbase in the Kiwi nation

The Kiwi crypto users can now trade through Coinbase, as the latter’s services are now available in New Zealand. Regarded as one of the safest crypto exchanges, Coinbase has not reported frauds or hacking of the security systems.

Some of the exciting features alluring the NZ crypto users include as following:

  • Coinbase is a well-known global cryptocurrency exchange, allowing NZD deposits
  • It has an easy to use, customer-friendly website or application
  • It offers a secure wallet to store the digital currency
  • Payment options include debit cards as well as bank transfers
  • Coinbase Pro includes advanced trading tools for the crypto enthusiasts
  • The app allows conversion of already owned cryptocurrency into any other supported cryptocurrency

Must Read: Look at the top 8 cryptocurrency exchanges operating in New Zealand

What is Coinbase Wallet?

Coinbase provides a hosted cryptocurrency wallet service, which stores cryptocurrencies. Regarded as one of the safest crypto wallets, Coinbase's wallet is very easy to use, especially for beginners who look forward to exploring the digital asset world in a safe and regulated environment. 

Recommended Read: Good News For Crypto Lovers: Coinbase Allows Crypto Purchase Via PayPal

In New Zealand, the Coinbase wallet supports many popular cryptocurrencies like Bitcoin, Enthereum, DASH, ADA, Litecoin, XRP, SUSHI, Bitcoin Cash, etc.

Moreover, users can pay a voluntary fee while sending blockchain transactions in order to compensate the miners who in turn, are processing the transactions. Generally, during congestion hours, miners prioritise those transactions which offer higher network fees.

It is noted that for calculating an optimal network fee, Coinbase makes use of an algorithm. Users can pay the optimal amount based on current transaction conditions.

Are there any fees charged by Coinbase?

A fee of 2% is charged by Coinbase on all its crypto exchange transactions.

How safe is trading through Coinbase?

Coinbase makes use of stringent security measures like multiple 2-factor authentication methods to protect the user's privacy as well as digital assets. It is pointed out that over 98% of the customer funds are stored in offline cold storage.

Running its operation in the US, Coinbase complies with the US laws and regulations, some of which are listed below:

  • Complying with the USA Patriot Act
  • Complying with the Bank Secrecy Act
  • Registered with FinCEN

It also has the backing of numerous big and reliable investors like Bank of Tokyo, Digital Currency Group, Blockchain Capital, etc.

Also Read: Why to get acquainted with 10 blockchain platforms in 2021?


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