Don’t be afraid of the tech because you are not entirely sure how all this Bitcoin business works. I was just like you. Interested, yet mildly intimidated by the whole crypto market scene. It is not as complicated as it seems. It is a bit overwhelming at first, yes. However, taking bite-size chunks of what is going on in the cryptocurrency/blockchain world and taking your time to digest them is something that anyone can do.
Coinbase 101, will walk you through signing up with Coinbase, the features, uses and completing your first Cryptocurrency purchase.
Coinbase was started in 2012 and functions out of San Francisco California. Offering 32 different countries around the world the ability to trade their home currency for crypto, Coinbase offers 4 choices of Crypto coins to choose from. The top four of Crypto, if you will. Bitcoin (BTC,) Ethereum (ETH,) Bitcoin Cash (BCC,) or Litecoin (LTC,)
are available. Coinbase’s unique platform also serves as a digital crypto wallet for consumers from over 190 countries.
Coinbase is available through the Google Play store, the iOS app store, or web browser. Depending on your tech, finding the app is as simple as typing Coinbase into your search engine of choice, or if you use my referral link to sign up, we BOTH get a FREE $10 in BITCOIN after a purchase!
Coinbase will need a verifiable phone number for your account. This is so duplicate accounts cannot be created, as well as an added layer of security so no one else can access your account. Enter your mobile phone number and Coinbase will want to confirm it by sending you a text.
Coinbase will want a form of identity verification before a purchase can be made. This is as simple as taking a picture of your driver's license, passport, or other government issued picture ID. Simply snap a shot of your ID and upload it to Coinbase. This is required for the same reasons that a bank must verify your identity before issuing you an account.
Lastly, in the setup process, you must select a payment method.
In the mobile app hit settings, in the web browser select the Settings tab toward the top of the page. Choose the “Linked Accounts” tab and enter either a bank account or debit card. Debit card purchases are much quicker, however, not all banks allow them. If your card cannot be verified, use the ACH withdrawal option. It works just the same, however, it can take up to a week for the transfer to go through. I had to use this option originally and never have had a problem.
The bank transfer also has no fees attached and is allotted a larger amount of purchases than the debit/credit card option. Usually, it may take a couple of days for your bank to verify the Coinbase account. Some banks are quicker than others.
With Coinbase all setup, you are now ready to buy your first Crypto coins! There are only 4 to choose from on Coinbase at the time of this post, however, these are the largest and most well known Cryptos. I am not a financial advisor, however, I LOVE me some Litecoin!
Congratulations! You are now the proud owner of the future, right now! Cryptocurrencies have a HUGE potential to be the replacement of the native dollar! Now that you are an official Crypto enthusiast/investor, join some like-minded folks in our Facebook group Lemons to Lambos!
Any questions? I am happy to answer! Email me! [email protected]
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Sources
https://cointelegraph.com/tags/coinbase
https://hackernoon.com/how-to-use-coinbase-f8ef08feb300
