Background
Coinbase is one of the leading and trustworthy crypto exchanges in the US, serving the crypto community in over 100 nations. The crypto broker went functional in 2012 and quickly became a hit for its limited coin offerings plus next-level security. Besides traditional crypto trading, Coinbase allows users to earn money through referrals, staking, and the Coinbase Earn program.
The centralized exchange is licensed to operate in many US states and complies with other jurisdictions’ regulatory requirements. By covering such a vast regional network, Coinbase caters to more than thirty million users worldwide. The crypto trading platform recently started offering partial services to Indian users. Read on to learn how to access the network in India and take advantage of its various services.
Can Coinbase Be Found In India?
Coinbase is now available in India thanks to its increasing crypto user base, a lack of government oversight, and the central bank’s plans to embrace digital currency. Now, Indians have the privilege of buying, selling, and storing cryptos easily and securely.
However, not all Coinbase services are available to Indian users at the moment. But since it promotes itself as a beginner-friendly exchange and aims to encourage more participation in the cryptoverse, Coinbase is becoming popular among Indian crypto traders. It is worth mentioning that the platform promises users security of their funds through offline storage and insured assets.
What Can You Do With Coinbase In India?
People from India can use Coinbase for various purposes, including trading, staking, storing, and converting cryptocurrencies.
- Crypto Trading – The most common usage of Coinbase is to buy or sell digital assets when the market is favorable and benefit from the significant price gap. The easy-to-use interface makes the entire trading process more convenient.
- Crypto Staking – Coinbase lets Indian users lock or hold certain crypto-assets in the exchange’s digital wallet and earn passive income in the form of an annual interest rate in return.
- Crypto Storing – Users can store all their crypto holdings, such as Bitcoin, Ethereum, and Litecoin, in their Coinbase account with the in-built wallet the mobile wallet app.
- Crypto Conversion – Holders of single or multiple crypto coins can convert their digital assets into a desired virtual currency.
Services Offered By Coinbase In India
In India, Coinbase is not running at total capacity, so users cannot use certain exchange features such as INR deposits and withdrawals. With that said, it still offers a range of services, giving users a rewarding experience.
- Conversion From Crypto To Crypto – Unlike in other jurisdictions, Indians can only convert crypto into another crypto. It does not support fiat to crypto or crypto to fiat conversions.
- Coinbase Wallet – The fully-functional, secure Coinbase Wallet is available for Android and iOS smartphones, allowing users to store and trade coins. It integrates a decentralized app browser to navigate different crypto exchanges and trade with Coinbase.
- Coinbase Pro – Designed keeping in mind the regular traders, trading with Coinbase Pro incurs variable yet lower taker and maker fees.
How Does Coinbase Work In India?
Using Coinbase in India is a step-by-step process that goes something like this:
- Create An Account – First, sign up with the platform with a username, email address, and a unique password.
- Email And Phone Verification – Confirm the verification email to proceed with account type and trading. Verification of phone numbers is essential for two-factor authentication.
- Identity Verification – Submit identity documents, such as driving license, passport, and permanent address.
- Make A Deposit – After account confirmation, deposit in Coinbase supported cryptos (20+) and other ERC20 coins by scanning the QR code or copying the wallet address.
FAQ
Can I Withdraw Money From Coinbase In India?
Yes, but only in crypto coins as fiat (INR) support is not available yet.
What Are The Coinbase India Fees And Charges?
Transactions with Coinbase are free, while trading (taker fee – 0.04%-0.05% and maker fees – 0.00%-0.05%) and conversion (0.05%-2%) carry a cost.
How Can I Add Money To My Coinbase Account In India?
The Coinbase and Coinbase Pro website and Coinbase Wallet allow depositing crypto funds by opening an account with the exchange.
Conclusion
The expansion of Coinbase in India is a well-thought move from the exchange and inspired by the positive outlook for cryptocurrencies. Furthermore, the lack of a specific regulatory framework allows the users to trade on the platform. There is no question about the reputation of Coinbase, and we can see it functioning full-fledged over time. For an emerging crypto market like India, Coinbase is a perfect place for users to start trading. Want to know more about Coinbase and its features and services then visit https://www.cryptonewsz.com/cryptocurrency-exchange/coinbase-review/ to get entire information regarding Coinbase.
