Coinbase

More people search for this text message than for Coinbase's fees. The wording varies but the pattern doesn't: "Your C0INBASE withdrawal code is: 1243218. If this was NOT requested by you, call us at +1…". Often the O is a zero so the message gets past carrier spam filters. It arrives whether or not you have a Coinbase account, because the senders work from bulk phone lists and leaked customer data.

The code does nothing. The phone number is the whole trick. It goes to someone playing a Coinbase support agent, who "confirms" that a hacker is draining your account and then walks you through "protecting" it. Malwaretips documented the script in August 2025, and it matches what US county sheriffs and prosecutors have put out in their own alerts.

• Move your crypto to a "safe" or "vault" wallet. The wallet belongs to the caller.
• Install AnyDesk, TeamViewer or a similar tool so the "agent" can "secure" your device.
• Read out a 2FA code, recovery phrase or password. Real Coinbase staff never ask for these.
• Buy gift cards to "verify" your identity.

It works better against Coinbase customers than most phishing because some of the callers really do know your name, address and balance. In May 2025 Coinbase told the SEC that criminals had bribed overseas support contractors to pull customer records, including names, addresses, phone numbers, partial Social Security numbers, ID images and balances. A caller who reads your own details back to you is using that kind of data. It is not proof they work at Coinbase.

1. 01Don't call the number or reply to the text.
2. 02Open the Coinbase app or type coinbase.com yourself, and check Activity for any withdrawal you didn't make.
3. 03If a sign-in or withdrawal attempt shows up that wasn't you, change your password and move 2-step verification from SMS to a passkey or security key.
4. 04Forward the text to 7726 (SPAM) so your carrier can block the sender, then report it to Coinbase through the in-app help centre.

A real withdrawal code only appears while you are making a withdrawal yourself. If you weren't sending anything, the text is fake.

It is a real, regulated business. Its balance sheet is more visible than any other exchange's: Coinbase Global files 10-Qs and an audited 10-K with the SEC, and it has been in the S&P 500 since 19 May 2025. Its 2025 10-K reports $7.18 billion in revenue and $1.26 billion in net income. No offshore venue gives an outsider that kind of view of its liabilities.

Coinbase has never lost customer funds through a breach of its own wallets. Its record on account security and compliance is weaker, and you should know it before deciding how much to leave there:

Keep in mind what a Coinbase balance is in law. In a May 2022 10-Q the company warned that customers' custodial crypto could be treated as part of a bankruptcy estate, which would make them unsecured creditors. No US exchange insolvency has yet tested how a court would treat Coinbase customers. Crypto on Coinbase has no FDIC cover. Only USD cash held at partner banks can qualify.

Is it legit? Yes, it is the exchange US regulators know best. Is it safe? The practical risks are phishing and SIM-swap attacks on your own login, not the company going under. A passkey or hardware security key closes most of that gap.

How much Coinbase charges depends on which screen you trade from. The one-tap Buy/Sell screen in the main app adds a transaction fee plus a spread built into the quoted price. The spread is not listed as a fee, so the receipt understates the cost. Coinbase Advanced (the old Coinbase Pro / GDAX order book) uses a published maker/taker schedule with no spread on top.

On 16 September 2026 Coinbase rewrote the Advanced schedule. Volume tiers now combine spot and derivatives, the first discount starts at $10,000 of 30-day volume instead of $25,000, and holding USDC can qualify an account for a VIP tier on its own. Entry pricing now depends on region:

Under the new schedule, VIP status by USDC balance starts at $500,000 for Advanced 1 and rises to $15 million for VIP 2. Few retail users will get there, but it shows what Coinbase wants most from customers: USDC balances.

• Coinbase One ($4.99–$299.99 a month) waives trading fees up to a monthly cap. The spread still applies.
• Staking keeps 35% of the rewards on most assets (25.25–31.75% for Coinbase One members). This is the fee people check least. See the Coinbase staking card.
• US bank transfers: ACH is free; a wire costs $10 to deposit and $25 to withdraw.
• Crypto withdrawals pay the network fee. Coinbase quotes it on the confirmation screen.

Does Coinbase charge fees? On every trade, yes. The only question is whether you can see them. A US buyer who moves from the simple screen to Advanced and places limit orders pays a published percentage instead of a hidden spread. For regular purchases, that one change makes the biggest difference to what you pay.

Coinbase Global, Inc. runs a US crypto exchange and custodian. Brian Armstrong, a former Airbnb engineer, founded it in June 2012 after Y Combinator; Fred Ehrsam, a former Goldman Sachs trader, joined as co-founder. Armstrong is still chair and CEO. The company went remote-first in 2020 and has had no formal headquarters since. It listed on Nasdaq by direct listing on 14 April 2021, with a $250 reference price.

The retail app is now a small part of what Coinbase sells. In Q2 2026, subscription and services revenue ($555 million) was almost as large as transaction revenue ($599 million). It comes from interest on USDC reserves, custody for spot bitcoin and ether ETFs, and staking. Coinbase co-founded USDC with Circle and held an average of $20 billion of it on platform that quarter. It also runs Base, an Ethereum layer-2 network.

2026 has been a year of cuts and new bets. On 5 May Coinbase said it would lay off about 700 people (14% of staff) and cut management layers, giving AI tooling as the reason. It reported a $359.5 million net loss for Q2 as crypto prices fell, while prediction-market revenue passed a $100 million annualised run rate. In September it agreed to buy The Clearing Company, a prediction-markets firm, and opened stock and ETF trading to all US customers.

On regulation, the SEC's June 2023 lawsuit over unregistered trading and staking was dismissed by joint stipulation on 27 February 2025, with no penalty. Coinbase gave $49 million to the Fairshake super PAC in 2024 and lobbies openly on US market-structure law.