Coinbase is a trusted and reliable exchange, more than 14 million users (including myself in it), and is the best place for you if you can buy crypto with USD, Euro, Pound sterling etc. Although Coinbase is a trusted crypto exchange, not everyone doesn't buy and sell, because the buying and selling feature is only for countries from America and Europe (only for 32 countries), but you can use the Coinbase.com/global feature there are 100 countries to exchange and buy crypto.
Coinbase only provides popular crypto, i.e. crypto that has been used as a medium of exchange or as a commodity.
Account Restrictions, Because Coinbase must have a different license for each country, so to prevent unwanted actions, distinguish accounts based on account age, number of transactions, this limit will be recorded automatically,
High Fees, Coinbase is famous for high fees, the fee has been set a minimum fee for transactions up to $200 while for transactions over $200 the fee is determined on a percentage basis.
No Anonymity. Coinbase will always report every transaction that occurs to each government, both user information and the amount they trade. So that any type of crypto that we store will be recorded by the government so that it will be taxed. Coinbase can also freeze your account in the event of unusual transactions, such as transactions from the dark web, adult sites, gambling, illegal goods etc.
In my opinion, Coinbase disadvantages, not a big problem, because Coinbase is very easy to use for beginners and pros, also very safe because the Crypto that we store on Coinbase is insured so theoretically you will not lose your crypto.
LOL. You just listed a lot of features that would scare me away. I had plans to open an account for the year 2022. I was about to become discouraged, especially when you said “high fees” but then you concluded by saying it's a great platform for beginners. Whew! I do intend to carry out my plans. The game is still on! LOL.
Coinbase is American company and in the United States the government is charging tax on each trade. Since the trade is taxable, it is natural for Coinbase to report to the US Government. I thin Coinbase is better than Binance in many ways, at least Coinbase is a registered company, not like Binance that is not registered in the region where is operates.
I think most of those would scare a lot of people away. How much would these disadvantages affect people & their coinbase?
The major disadvantage with coinbse is the limitation of some countries from using it's full features. Such has kept me away from using coinbase for buying and selling cryptocurrency directly, or swapping to another coin just as I do with Binance exchange.