Yes. redeem is the proper classification. In the United States we are not on a cryptocurrency basis we are on a dollar basis. Everything is converted into dollars for tax reporting purposes. Therefore, as you paid for things, you were redeeming your Coinbase values into dollars.
Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency (crypto). Their business is to convert crypto into and out of local currency. I would expect that you do have Capital transactions going on in the background. Those transactions create a reportable taxable event.
Coinbase should be able to provide you with a transcript of all of your transactions. Any gain or loss from those transactions must be reported to the IRS as Capital Gain or Loss.
If this does not completely answer your question, please contact us again and provide some additional details.
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