Coinbase is a leading cryptocurrency exchange where buying, selling, and exchanging of digital assets are made possible. In this article, I will be explaining how to buy bitcoin and cryptocurrencies on coinbase.
Founded in June 2012, Coinbase is based in San Francisco, California.
Coinbase is the biggest and most trusted crypto exchange in the world today.
In fact, Coinbase is my top pick for beginner friendly crypto exchange and offers an easy to use clear interface. I’ve personally been using coinbase since 2016 and have never experienced any major issues with them. There customer service and professionalism has won me over as a customer and I have no problem recommending them to friends and family.
In 2017, Coinbase recorded a staggering revenue of over a billion dollars. Bitcoins explosive rally to 20,000 USD made this possible.
An astonishing 7 Million new users required Coinbase to innovative it’s infrastructure by employing more than a thousand engineers.
In 2018, Coinbase acquired a multi million dollar online company called Earn.Com. The company ran a successful website that payed out crypto to it’s users for performing microtasks such as completing surveys and signups, similar to Swagbucks.
Today,Coinbases cryptocurrency exchange is worth a whopping $8 Billion. Just to highlight more,Fortune Magazine awarded Coinbase the “40 under 40” Title, securing coinbases first place title as top crypto exchange.
Why you should be using Coinbase to buy Bitcoin
1. Coinbase uses the latest technology to secure your funds — the world’s largest cryptocurrency exchange.
2. Your funds are fully insured, meaning, if they ever get hacked, your funds are absolutely safe.
3. They have been approved and cleared with SEC (Securities and Exchange Commission) in the USA
4. They are backed by several large venture capital investors who collaborate with the company.
5. They formed a “Political Action Committee” insure that all transactions and Government issues are legal and secured.
6 Steps for opening a Coinbase account
You will require an Email Address and Password.
Now lets dive right in…
1. Go to Coinbase.com and click on Sign up.
2. Enter your email address and click “Get Started”.
3. Enter your real name, email and create a strong password.
5. Click on “Create Account”.
Wait for a message to be sent to your email address.
6. Go to your email account and click to verify your email. SUCCESS!, You’ve just created a coinbase account.
That’s it. You’ve just taken your first step in to the crypto revolution.
Now that your account is set up, you will need to verify your identity before you can transact on the exchange.
How to set up your Coinbase Account to enable Transactions.
The following steps are required to verify and certify your account for crypto transactions.
Since you’ve already created your Coinbase account, you will need to verify your phone number.
• Verifying Your Phone Number
A phone number is needed to create a 2-factor identification. This 2fa identification (steps below) provides a layer of security to your account. With all the fraud in society today it’s become a must for transacting in digital currencies.
• Setting Up A Payment Method
After verifying your phone number, it’s time to set up your payment method.
Coinbase offers several payment options, each type requires you to verify a transaction to make sure everything is working. Once you’ve verified a small transaction, you can now go ahead and fund your account.
Coinbase is offering offering a limited time bonus of $10 for upon sign up and funding your account $100. They’re also offering an additional $158 in cryptocurrencies for watching a few short videos and answering questions. The program is called Coinbase Earn, I’ll be explaining more about it in this article. So read on!
How to buy bitcoin and other cryptocurrencies
After successfully funding your coinbase account, you can now go ahead and buy any of the 27 listed cryptocurrencies listed on their exchange.
• Choose one of the cryptocurrencies you want to buy, enter the amount and desired price. You can choose to set a price higher or lower than the market price, when the price moves to your set price it will enable the transaction. Or you can simply choose a market order which will buy at the current market price.
You have taken your first steps towards joining what I believe to be a revolution of the worlds financial system. Digital currencies could become the future of finance.
How to send Bitcoin from your coinbase wallet
Before sending bitcoin or any other cryptocurrency from your wallet, you will need to the recipients address. Make sure to double check the address you’re are sending to.
1. Sign in to your coinbase account.
2. Confirm your 2f confirmation email, (Set up a 2 factor identification using an authenticator for more protection)
3. Click on account. Once logged in, all your crypto wallets will be shown. Ive chosen to use Bitcoin for this tutorial but you can choose any other crypto the same way.
4. Click on the send Button, Enter the recipients email or bitcoin wallet address.
5. Enter the amount (you can also add a description if you desire)
6. Click on Continue.
On the next screen, make sure that you verify that all the information is correct. If everything looks good click on confirm.
That’s it! You’ve sent your first Bitcoin or Crypo using coinbase. Your transaction will be sent and recorded in in the blockchain that you can later verify. Borderless, permissionless, peer to peer and decentralized are is what makes blockchain so revolutionary. It’s so much more than just a digital currency.
You will get a notification that your transaction is on its way. Now, you can view the transaction if you want.
You will also get an email that you’ve sent a particular amount of bitcoin to another user.
Note: You can use the Hash code/QR Code to send your crypto coin as well — a better option to guide against the mistake of copying the wrong wallet address.
How to use?
You will need to install the coinbase app on a phone. Login using the same login in credentials.
• Login to the Coinbase wallet app,
• Focus your mobile camera on the QR code of the recipient address, it automatically focuses, the address will be captures.
You can click to view the transaction, it will give you detailed information on bitcoins blockchain.
How to Receive Bitcoin and other Cryptocurrencies on your Coinbase Wallet
1. Login to your Coinbase Wallet Account.
2. Once logged in, Click on Accounts at the top left margin of your wallet. Choose which coin you would like to receive.
3. Copy your wallet address and and give it to the sender (You can also send the QR code as another option) Check to verify that the wallet address is correct before sending.
Tip: Bitcoin addresses always start between 1–3, so, check very carefully.
How to Secure Your Coinbase Crypto Wallet
Securing your coinbase wallet is as important as opening it in the first place. So make sure to follow the DIY-S, let’s get it done!
• Do NOT share your Bitcoin wallet ID with anyone.
First, you should know that Coinbase will never ask you of your password, 2 factor authentication codes, or any other login information. So, do not give it to anyone.
• Use a Complex Password, with upper and lower case, number and letters
Take advantage of the secure 2-fa authentication process. Although, sometimes is annoying, it is super inportant.
How to earn crypto, Coinbase Earn, Up to $159
As a new user on Coinbase, if you buy or sell just $100 worth of crypto, then your wallet will be given a balance of $110 USD
After you’ve created your coinbase account you can click on the links below, sign in to your account and follow the steps for each coin link provided.
After logging in to Coinbase Earn, you will have a list of coins that you can earn from.
Just select on view for each coin, watch a short video and answer the simple questions.
It’s that simple, enjoy your free crypto.
Coinbase will be adding new coins to earn from in the future, so check back once in a while to see if new coins have been added.