How To Create An Account And Trade On Coinbase?

How To Create An Account And Trade On Coinbase?

This blog post is a step-by-step guide that will teach you how to create your first account and start trading on Coinbase. You will learn what the different types of accounts are, how to sign up, verify your identity and fund your account with money. The goal of this blog post is for you to feel confident in creating an account.

If you're new to cryptocurrencies, Coinbase is one of the best ways to start. This article will teach you how to create an account and trade on Coinbase with ease. First things first: You'll need a bank account or debit card that's linked to your name and address in order to use this app-based platform. Once verified, you can buy bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), or Litecoin (LTC). To get started, sign up for a Coinbase account here!

1. What is Coinbase?

Coinbase is a website that allows you to buy, sell, and store cryptocurrency. It is one of the most popular cryptocurrency exchanges in the world. It offers the ability to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), in addition to other coins with fiat money like US dollars. (Psst: You can use BTC, Dogecoin, Litecoin, Ethereum to purchase cool crypto clothing at 10% off + Free Shipping) Coinbase has been around for several years now and continues to offer its users an easy way of trading cryptocurrency on a global scale. The site is simple enough for someone who doesn't know much about crypto but also provides advanced features for those who have experience investing in cryptocurrencies and want more control over their portfolio.

The company also has its own digital currency wallet called "Trezor". You can use this to store your coins. When you sign up for Coinbase you will be given an address which is like a virtual bank account number that lets you deposit money from a bank or credit card. If you want to withdraw money from Coinbase it's important to understand how it works so that nothing goes wrong!

2. Create an account on Coinbase

What you'll need:

  • Be at least 18 years old (Coinbase will ask for proof)
  • A government-issued photo ID
  • A computer or smartphone connected to the internet - A phone number connected to your smartphone
  • The latest version of your browser (Chrome recommended), or the latest Coinbase App version. If you’re using the Coinbase app, make sure your phone’s operating system is up-to-date.

Process:

  • Create your account
  • Verify your email
  • Verify your phone number
  • Add your personal information
  • Verify your identity
  • Link a Payment Method

3. How to buy/sell Bitcoin, Ethereum, or any other crypto coin from the web & app

Web:

  • Sign in to Coinbase
  • Select Buy / Sell on the upper right-hand side
  • Click the Buy field to select the asset you'd like to purchase
  • Enter the amount you'd like to buy denominated in crypto or your local currency
  • Select your payment method
  • Click Preview Buy to confirm your purchase (you can always click the back arrow to make a change
  • If the details are correct, click Buy to complete your purchase
  • If you’d like to make this a recurring purchase, click One time purchase and select how often you’d like the purchase to repeat

App:

  • Tap at the bottom
  • Select Buy, then select the asset you’d like to purchase
  • Enter the amount you'd like to buy denominated in crypto or your local currency
  • Click Preview Buy to review your purchase (you can always tap the back button to make a change
  • If all the details are correct, tap Buy now to complete your purchase

If you’d like to make this a recurring purchase on Coinbase, tap One-time purchase and select how often you’d like the purchase to repeat.

4. How to convert one cryptocurrency for the other?

How does converting cryptocurrency work?

Users can trade between two cryptocurrencies directly on Coinbase. For example: exchanging Ethereum (ETH) with Bitcoin (BTC), or vice versa. All trades are executed immediately and therefore cannot be canceled. Fiat currency (ex: USD) is not needed to trade.
How to convert cryptocurrency On a web browser?
  • Sign in to your Coinbase account
  • At the top, click Buy/Sell > Convert
  • There will be a panel with the option to convert one cryptocurrency to another
  • Enter the fiat amount of cryptocurrency you would like to convert in your local currency. For example, $10 worth of BTC to convert into XRP. If you do not have enough crypto to complete the transaction, you will not be able to complete this transaction.
  • Click Preview Convert
  • Confirm the conversion transaction

How to convert cryptocurrency On the Coinbase mobile app?

  • Tap 
  • Select Convert
  • From the panel, select the cryptocurrency you'd like to convert to another crypto
  • Enter the fiat amount of cryptocurrency you would like to convert in your local currency. For example, $10 worth of BTC to convert into XRP.
  • Select Preview convert. If you do not have enough crypto to complete the transaction, you will not be able to complete this transaction.
  • Confirm the conversion transaction

5. What is a hardware wallet and why you should use one?

A hardware wallet is a physical device that can store your private keys and supports two-factor authentication. This means that if the computer you are logging in from gets compromised, the hacker will not be able to steal your coins because they would need access to this physical device too. Hardware wallets also provide what's called "cold storage" for your cryptocurrency, meaning it's stored offline which makes it much more difficult for hackers to break into. To top things off, some hardware wallets have additional features like OLED screens or fingerprint scanners so you know exactly who is accessing your funds. You can use a hardware wallet to hold Bitcoin, Ethereum, and other cryptocurrencies.

The cryptocurrency market has been fraught with dangers such as hacks on exchanges, malware that targets personal computers, and phishing schemes disguised as legitimate communication. One way to protect yourself while trading cryptocurrencies is by using a hardware wallet. To date, there have not been any successful attacks on hardware wallets so they provide peace of mind when storing your funds offline where hackers cannot steal them without your private key or physical access to the device itself. Hardware wallets typically generate one address per transaction so you only need to remember one set of keys. Get one when you start using Coinbase (recommended!)

 

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