How to buy Bitcoin on Coinbase: Bitcoin prices in 2018 are a far cry from the highs of late 2017. While December saw the Bitcoin price hit new heights of close to $20,000, it has now dropped by as much as 50 percent. Therefore, investors and everyday internet users who are looking to invest in cryptocurrency might see these new lows as an opportunity to get on the bandwagon. There’s every possibility we will see those exponential highs again, so why not?
When it comes time to look for a cryptocurrency platform in which to buy, sell, and trade, there are options aplenty. However, new investors must tread carefully as not all are as safe or as straightforward as they make out to be. Coinbase is one of the most popular Bitcoin exchange platforms in the world and is indeed a favorite in Europe and the US. While it’s not available in all countries, it’s a valid option for countries in those main centers.
Coinbase has millions of users, has undertaken billions of dollars worth of transactions, and has a seamless platform with helpful tools for all manner of users. Not only can you use it for the buying and selling of Bitcoin, but for Ethereum and Litecoin as well.
As one of the largest Bitcoin communities online, there’s no time like the present to learn how to buy Bitcoin on Coinbase.
1. Visit Coinbase.com to create an account.
2. Verify your email address
Verifying your email address, as you know, is a standard part of most account creations. Using an exchange is no different. Once you fill in your name and email address and select a password, you will receive an email much like this one below.
3. Add a phone number
You may also be required to provide a phone number. Once you do, a code will be sent via text message for you to enter. The purpose of the phone number is to provide a means of verification for if you intend on making large purchases.
Once your account is verified, you will then be directed to the dashboard.
4. Making your profile
Before you begin making transactions, it’s a good idea to complete your Coinbase profile. The entire process is straightforward and should only take a few minutes. Your profile is located in the top right-hand corner of the dashboard.
The first thing on your profile you may like to change, aside from your public nickname and photo, is the account security. By clicking the hyperlink under ‘change password,’ you’re able to enable the 2-step verification process. This adds another layer of protection to your account.
5. Change your Coinbase URL
While you’re making your profile so that you can know how to buy Bitcoin on Coinbase, you may wish to personalize your URL address. By doing so, you can give this URL address to clients and customers who can pay in USD. It will then be converted into Bitcoin – increasing your portfolio.
6. Verify your identity
Because of strict regulations, even though Bitcoin is decentralized, it still requires verification of your identity. To do so, head to your Bitcoin dashboard and click on the ‘Buy/Sell’ tab.
To verify your account, you need to scan a copy of your passport, Government-approved identification, or driver’s license, or take a photo holding these up. You then select the option which best suits your identification type.
Once you are verified, you can now buy Bitcoin on Coinbase! The process from here is exceptionally straightforward. If you are from Europe – including the UK, as well as the United States, you can purchase Litecoin, Bitcoin, and Ethereum with a credit card.
If you’ve always wondered how to buy Bitcoin on Coinbase, now you know. Once you’ve verified your account and set up your profile, you’re well on your way to being able to buy and sell Bitcoin and build your investment portfolio.