A Coinbase Guide for Crypto Beginners

Coinbase is one of the most popular, secure, user-friendly, and convenient ways to buy, use, and sell a variety of cryptocurrencies in more than 32 countries around the world. Getting started takes only a few minutes, and trading with some of the top coins on the net today, your potential for growth and movement is virtually unlimited. Coinbase is a popular way to trade Bitcoin, Ethereum, and Litecoin. With the recent and continuing explosion of the cryptocurrency market, getting in sooner rather than later is going to pay you some due dividends, and only requires a minimal investment from your part.

A Coinbase Guide for Crypto Beginners

Signing Up and Bank Details

As simple and easy as signing up for a web-based service, Coinbase requires only your name, email verification, and your personalized password to get you started. You will also need to provide your phone number once you have verified your email address. Furthermore, upon registration you will receive a confirmation sms to verify your given phone number. It may seem like a bit of a tiresome process, it is after all in place for the protection of your account and therefore your money.

Once all this has been done, Coinbase is going to ask for your banking details or your credit card information, depending on your purchasing options. Credit card payments are faster, they are however subject to daily limitations, as well as a higher fee. Addition to that, you will be required to upload a photo of yourself or picture of your driver’s license, making sure that it is well lit, in-focus, and is fully visible. Coinbase is a regulated financial services institution operating within the United States, hence the requirement for the identification of its users.

Buying and Selling

Buying cryptocurrency on the Coinbase platform is an absolute breeze, offering users option on the most popular and valuable digital currencies on the web today. Simply select the “buy/sell” tab, select the mode of currency you wish to transact in, choose your payment method, and simply enter the amount you want, either in coins or USD. The rate, including the transfer fee will be shown on the right of the screen. Making use of the bank transfer method can take a few days to complete, and is the standard with all banking institutions, and is no fault of Coinbase. Once the transaction has been completed it will be deposited into your wallet, where you are free to continue transacting.Selling works in a very similar way, depositing the USD value of your coins back into your bank account within a few days.

Take a  comprehensive look at Coinbase here and learn more information that you need to know!

Extra Security

When dealing in the world of cryptocurrencies, security is a rather prominent feature, and extra security measure are always most welcome. Coinbase allows its users to add an additional level of security to their accounts, simply by making some minor adjustments to their account settings. Under the “settings” tab, select the “security” option to add a two-factor authentication (2FA) procedure to your accounts security. You are going to need to the Google Authenticator app on your smartphone to take advantage of this additional security measure. Simply follow the prompts on-screen and enter the code generated at the end of the application. A new code will be issued for every transaction that is made. These verification codes are changed every 30 seconds, and are only made visible to you.

This easy to use and simple to follow Coinbase guide should give you all the necessary information that you need to get your cryptocurrency account with Coinbase up and running. An investment in cryptocurrencies is an investment in the future of the financial world, so get in early and start building toward your future financial freedom today.

 

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