How to Trade on Coinbase?

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How to Trade on Coinbase-techcryption

is a digital currency wallet and platform for buying, selling, transferring and storing currencies like Bitcoin, Ethereumand Litecoin. Coinbase may have achieved the strongest brand recognition among cryptocurrency exchanges since its founding in 2012, in San Francisco, California.

Signing Up

To sign up, head over to Coinbase website and click on “Get Started” in the top-right corner of its landing page. Fill in your basic information such as name, email and password, then “Create Account”.

Note: Coinbase specifically requests that you go through the identity verification process before making your first purchase. Its user agreement specifies age limitation (18+), KYC requirements and fees, so be certain to check it out to ensure that you meet their legal and policy standards.

ID Verification

After you have set up your account, you will need to verify your identity before making your first purchase.

You can choose between your passport or driver’s license to be submitted. Once you have been verified, you will receive an email notifying you that you are ready to start purchasing your first digital currency on the exchange.

 

 

 

Security

Under the “Settings” tab, click “Security” and select your 2-step verification method. For better security, switch to an authenticator app.

Install an authenticator app on your mobile device if you don’t already have one. Next, scan the QR code with the authenticator.

Once completed, you will be sent a final SMS informing you that your 2FA has changed, henceforth, it will be impossible for individuals to crack into your funds.

Depositing Funds

Coinbase is unique as it supports any specific amount you wish to deposit in your local currency.

Note: Be mindful of the fees involved.

In our example, we used $100 to purchase Bitcoin, which in turn gave us 0.010002 BTC to trade or send to another address. The process for selling your crypto is the same as is buying, however, you will need to enter the specific cryptocurrency amount before you can convert all of your funds back to fiat.

 

Limitation

It is important to note that Coinbase does not currently offer the service to sell their crypto in particular countries so be sure to check it out because once you have purchased crypto on their platform you will unable to convert back your local currency if unsupported.

Tip: If you would like to be notified when buys and sells are available in your country, or in which countries are currently available, you may visit https://www.coinbase.com/global.