{"id":14754,"date":"2020-12-30T18:43:36","date_gmt":"2020-12-31T03:43:36","guid":{"rendered":"https:\/\/www.reead.com\/en\/?p=14754"},"modified":"2024-04-19T04:03:11","modified_gmt":"2024-04-19T11:03:11","slug":"buy-cryptocurrency-coinbase-guide","status":"publish","type":"post","link":"https:\/\/www.reead.com\/en\/buy-cryptocurrency-coinbase-guide-147542020\/","title":{"rendered":"Coinbase: How to Buy Cryptocurrency ?"},"content":{"rendered":"
This post also contains affiliate links and I will be compensated if you make a purchase after clicking on my links<\/pre>\n
Despite the initial doubts and volatility, the cryptocurrency market has seen some\u00a0outlandish gains\u00a0over almost two decades. Many coins are currently offering more than a 1000% ROI on your initial investment.<\/p>\n
Many market analysts are suggesting that now is a key time to buy cryptocurrency as we sit at the beginning of a potential bull run. Coinbase one of the leading trading platforms has\u00a0over 35 million users<\/a>\u00a0from all over the world, making it the #3 cryptocurrency exchange based on its trading volume.<\/p>\n
Coinbase is a great place to start if you\u2019re looking to where to buy cryptocurrency<\/strong><\/a>. In this guide, we\u2019ll take a closer look at Coinbase and how to use it to buy cryptocurrency.<\/p>\n
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About Coinbase<\/h2>\n
Coinbase is one of the most trusted cryptocurrency exchanges. Despite holding a huge amount of client funds, Coinbase has never once been hacked.<\/p>\n
However, keeping cryptocurrency on an exchange does subject it to a heightened risk of cyber attacks, so it\u2019s worth moving your coins off the exchange once you\u2019ve finished trading. But more about this later.<\/p>\n
Coinbase is used worldwide and can be used in over\u00a0100 countries<\/a>. It supports around 50 different coins, but some of these coins may or may not be tradeable depending on your location.<\/p>\n
The interface is simple to use and users even have the opportunity to transfer their coins from Coinbase.com to Coinbase Pro. This provides more control over their trading and fewer transaction fees.<\/p>\n
Coinbase.com vs Coinbase Pro<\/h2>\n
Most experienced users will use Coinbase Pro because the transaction fees are much less.<\/p>\n
When you trade on coinbase.com you simply choose the currency you want to buy or sell and the transaction is carried out at the current market price. This might be great for inexperienced traders, but the fees can quickly mount up, eating into your profit if you\u2019re trading regularly.<\/p>\n
Coinbase Pro offers users the full trading experience, allowing them to set limit orders and keep a close eye on fluctuations in the market. This is much better for people who are looking to trade regularly. The transaction fees are a fraction of those on coinbase.com.<\/p>\n
So if there\u2019s one word of advice, it\u2019s this: Once you\u2019ve set up your coinbase.com account, use Coinbase Pro for trading.<\/p>\n
Money and cryptocurrencies can be transferred between one and the other instantly without any fees. Coinbase.com also offers a vault facility that allows users to store coins in a secure vault. This is a great place to put any cryptocurrency when you want to take it off the exchange.<\/p>\n
To withdraw any coins from the vault, you require a two-email verification and the process takes 48 hours to improve security.<\/p>\n
How to Get Started on Coinbase<\/h2>\n
Getting set up on Coinbase couldn\u2019t be any simpler. All you need is a computer or smartphone with an internet connection, a phone number connected to your smartphone, and a government-issued photo ID.<\/p>\n
When you sign up for your account, Coinbase will verify your email address, phone number, and identification. Once this is done you\u2019ll be good to go.<\/p>\n
Finally, all you have to do is link a payment method. Coinbase accepts bank transfers, wire transfers, and debit card payments. Please note that Coinbase does\u00a0not<\/em>\u00a0accept\u00a0credit cards<\/a>.<\/p>\n
Most payment transfers complete within a few minutes, but they can take up to one whole working day.<\/p>\n
How to Buy Cryptocurrency on Coinbase<\/h2>\n
Once you have money in your Coinbase account you have two options: trade with coinbase.com or Coinbase Pro. Trading with Coinbase Pro is a little more complex, but it’s certainly worth learning if you\u2019re looking at trading regularly.<\/p>\n
Buying Cryptocurrency on Coinbase.com<\/h3>\n
To buy cryptocurrency on coinbase.com, you’ll scroll through the list of available cryptocurrencies and select the one you want to purchase.<\/p>\n
Once you\u2019ve selected your coin, you\u2019ll be provided with a chart analysis of the coin and a current buy\/sell ratio of the coin. This is great as it can give you a good read of how the market is feeling towards the coin.<\/p>\n
To buy the cryptocurrency, just type in the amount of money you want to spend on the coin and hit \u2018buy\u2019. It\u2019s that simple.<\/p>\n
Before your transaction is finalized, you\u2019ll be shown a breakdown of the price of the cryptocurrency against your fiat currency and a breakdown of the Coinbase fees. If you agree, then hit confirm and congratulations! You’ve just bought your first crypto.<\/p>\n
Buying Cryptocurrency on Coinbase Pro<\/h3>\n
Coinbase Pro might look a little more intimidating, but it’s still straightforward as far as exchanges go. The first thing you need to do is deposit your fiat currency of cryptocurrency from coinbase.com to Coinbase Pro.<\/p>\n
Simply scroll down the list of currencies and select which one you want to deposit. Select deposit and you\u2019ll be given the choice of depositing from a crypto address or coinbase.com. Select coinbase.com and it will show you how much you have available in your coinbase.com account to deposit.<\/p>\n
Once you\u2019ve decided to purchase a particular type of crypto, you need to decide how you\u2019d like to buy it. There are three options:<\/p>\n