Coinbase is a cryptocurrency trading and investment website that lets users buy, sell, and exchange over 100 different cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is a major firm with over 73 million users and a market capitalization of $255 billion.
For simple buy and sell orders, beginners may likely prefer the original Coinbase site. Coinbase Pro, which is available to all Coinbase users, gives sophisticated users access to extra tools and order types.
Cryptocurrencies are a new asset class that can be dangerous and unpredictable, making them inaccessible to some investors. If you’re interested in cryptocurrencies, though, Coinbase is a great place to start.
Features of Coinbase
- Easy to use for cryptocurrency newbies: The main Coinbase website and mobile app are both incredibly user-friendly, allow you to instantly purchase, sell, and swap cryptocurrencies.
- Support for a vast variety of cryptocurrencies: Coinbase now supports over 100 cryptocurrencies for trade, with more being added on a regular basis.
- Cryptocurrency earning opportunities: Earn interest on qualified holdings, or use Coinbase Earn to receive a tiny amount of a new currency.
- Coinbase Pro offers lower pricing: Any user can upgrade to Coinbase Pro, an active trading platform with more features and lower fees.
Coinbase Trading is user-friendly and simple to use for anyone with a basic understanding of computers. Coinbase can be accessed over the web or through mobile devices running Android and iOS. You’ll have a similar experience if you’ve ever traded stocks through an online brokerage.
You can see your Coinbase portfolio on the main dashboard, and you’re never more than a few clicks away from a screen where you can purchase and sell currencies.
Popular Currencies on Coinbase:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Uniswap (UNI)
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- DAI (DAI)
- SushiSwap (SUSHI)
WHAT EXCHANGE SHOULD YOU USE TO BUY AND SELL CRYPTOCURRENCY?
If you are a beginner, you will get a few perks of signing up on coinbase.com. After you sign up on coinbase.com, you an investor 10 pounds for free
Note: With stocks, you can have a trial account and trade with fake money, which is similar to playing monopoly, but with cryptos, that is not possible. So, to prevent making mistakes, start with a little sum transfer, such as £100, $100, or even $50, and work your way up from there.
- GATHER INFORMATION FOR A FAIR OVERVIEW OF WHERE YOU ARE INVESTING
When you type in your Google search box about the best crypto exchange, Coinbase is the number one best overall platform. It is one of the safest platforms and is been listed on the stock market.
- START BY CREATING AN ACCOUNT AND OFFER CONSENT TO RECEIVE REGULAR UPDATES
Sign up on www.coinbase.com to create a new account. Then type in your username and password so you could indicate that you’re supporting GDPR. Sign in to your registered email address to respond to an email that verifies the association. Next, click on data collection to get acknowledgment on emails.
- ENTER ADDITIONAL DETAILS
Choose a language or languages, and the country you belong to. Fill in your details like passport, ID, or driver’s license, and you may also need to submit your proof of address, which is typically a utility bill with your name and address on for them to ensure the authenticity with supporting documents.
- VERIFY YOUR IDENTITY
Verify your identity by writing your date of birth or street address, as well as what you’ll use Coinbase for, the source of funds, employment status, proof of address, etc.
PRO TIP: The reason they do this is known as KYC (know your customer), and the reason they do this is to ensure that you are an all so that no one can come in and log in as you and then take your money for example, so this is a pretty frequent security measure.
- COMPLETE THE ACCOUNT CREATION PROCESS
Check in to your account and fill in those details. Finish your registration and sign in with the same credentials again.
- ENTER INFORMATION FOR TWO-FACTOR AUTHENTICATION
Fulfill the requirement as a step to secure your account and transactions, by means of AUTHY the app. The process involves entering the security code sent by the server within seconds. It is a passcode of six numbers that change every 40 seconds.
PRO TIP: The reason why this passcode alters so often is to minimize the risk of hacking. You are one of the early adopters; in ten years, the market will be saturated, but now is so early that you have a great chance to truly get in.
- LINK A PAYMENT METHOD
The first will be through your card, with fees of 3 to 5%. If you’re in Europe, do a sepa transfer, which is a fee-free way to transfer money. This will be a bank transfer which is a very economical and practical option. Also, keep in mind that you can acquire a handful of various Bitcoin, Ethereum, XR, Litecoin, Stellar, Bitcoin Cash, Eagles
PRO TIP: We teach how to use the pro version in the club we have right now, so if you are interested, just click on the link https://www.youtube.com/c/Investment-mastery. Get equipped with information to make the best investment decisions by availing all the comprehensive set of features provided.
- ADDITIONAL INFORMATION
There are two types – Coinbase and Coinbase Pro, and they are two different versions. We’ll explain the difference through an example. Imagine it as a bank account with a savings account and a spending account, so Coinbase would be your kind of spending account and Coinbase pro would be your saving or spending account. You can transfer money between those but they are two different accounts. The pro version appears to be a little more frightening and difficult to use, thus the costs are reduced as well.
- DEPOSIT FUNDS IN YOUR COINBASE ACCOUNT
Click on portfolio on the extreme left side after signing up. Go to your pound account and click deposit. Enter the name of the bank you want to connect your bank account to and fill in the details. Use your reference number to deposit the money in your account.
Cryptocurrencies have lately made headlines when a handful of them achieved all-time highs in price. Now is the moment to choose your cryptocurrencies by following the above easy steps. Coinbase is a leading platform for buying, selling, storing, and exchanging cryptocurrencies. It’s especially useful for cryptocurrency newcomers who seek a straightforward buying and selling experience without having to deal with the complexity of external wallets and decentralised exchanges. Since they are among the most popular and expensive
cryptocurrencies, more processing power is dedicated to maintaining their blockchain (technology that underpins cryptocurrencies, making them more difficult to hack).
If you want to learn more about how to trade or invest in the crypto market, join our live webinar.
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