Coinbase (2012) can be defined as a digital currency exchange based in San Francisco, California. They facilitate the trading of different cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tezos, and more. With its worldwide availability, it is not only the world’s largest Bitcoin exchange, but it is also a premium platform for you to trade cryptocurrencies and manage your profile.
Using Coinbase:
1) Visit the official website of Coinbase and sign up by entering your name, email address, password, and location.
2) Verify your email.
3) Add a contact number & verify that.
4) Fill up the form with your details.
5) Verify your identity by uploading an ID proof.
6) Add payment methods.
Now you are ready to trade using Coinbase.
Coinbase Refund Policy:
Coinbase doesn’t facilitate a digital currency refund at the wallet wherefrom it was sent. Coinbase user sends digital assets using this wallet to the address related to Coinbase and not your wallet address. This is because the source in this kind of transaction stays a secret. So any currency refunded will be sent directly to the Coinbase authority, not into your wallet.
Below we have mentioned some ways following which you can get your refund from Coinbase. But primarily, to accept the refund request, you need to know the address.
1) Send the refund back to the sender’s registered Coinbase username/email address and the authorities will match the details with their database to process the request.
2) You can apply for a login that will navigate you to a digital currency wallet and there you can create an address as per your choice. Add that address at the My address tab and now you can send the money to that account.
3) The sender could be requested to provide an address. Then log in to your Coinbase Account where you can get the refund sent to another wallet or get the information matched up.
Now you have the digital asset/currency or email address regarding the refund processing. Send that to the send page option. Enter address (which you have received), amount to be refunded and then finally click on send funds option.
Now the question is if your account gets hacked what would be the response/stand of the Coinbase authority! If any Coinbase customer account gets hacked, the Coinbase authority doesn’t take any responsibility. Although they have insurance cover for this kind of incident, still the assurance of getting your money refunded is for very limited cases.
So, it is always advisable to use the Coinbase account to buy and sell cryptocurrencies but not recommended to store the currencies. Keep them safe in any other wallet of your preference where you get guaranteed security, even if the account gets hacked.