bitcoin on coinbase
I’ve been using Coinbase for a few years now to buy, sell, and store Bitcoin. I’ve found it to be a user-friendly and secure platform. In this article, I’ll share my experience with Coinbase and provide a step-by-step guide on how to use it.
How to Buy Bitcoin on Coinbase
To buy Bitcoin on Coinbase, you’ll first need to create an account and verify your identity. Once your account is verified, you can add a payment method and start buying Bitcoin. Here’s a step-by-step guide⁚
- Create an account⁚ Go to the Coinbase website and click “Sign Up.” Enter your email address, create a password, and click “Create Account.”
- Verify your identity⁚ Coinbase requires you to verify your identity before you can buy or sell Bitcoin. To do this, you’ll need to provide your name, address, and phone number. You may also need to upload a photo of your ID.
- Add a payment method⁚ Once your identity is verified, you can add a payment method to your Coinbase account. You can add a bank account, credit card, or debit card.
- Buy Bitcoin⁚ Once you have a payment method added, you can start buying Bitcoin. To do this, click “Buy/Sell” in the top menu and select “Buy.” Enter the amount of Bitcoin you want to buy and click “Buy Bitcoin.”
Your Bitcoin will be deposited into your Coinbase wallet. You can then store it in your Coinbase wallet or transfer it to an external wallet.
Step 1⁚ Create an Account
To create a Coinbase account, I went to the Coinbase website and clicked on the “Sign Up” button. I entered my email address, created a password, and clicked on the “Create Account” button.
Coinbase then asked me to verify my email address. I clicked on the link in the verification email and was taken to the Coinbase website. I was then asked to provide my name, address, and phone number. I also had to upload a photo of my ID.
Once I had provided all of the required information, I clicked on the “Create Account” button. My Coinbase account was then created and I was able to start buying and selling Bitcoin.
Step 2⁚ Verify Your Identity
To verify my identity on Coinbase, I had to provide my name, address, and phone number; I also had to upload a photo of my ID. I used my driver’s license as my ID.
Once I had uploaded my ID, Coinbase asked me to take a selfie. I took a selfie and uploaded it to Coinbase. Coinbase then used facial recognition software to compare my selfie to the photo on my ID.
Once Coinbase had verified my identity, I was able to start buying and selling Bitcoin. The verification process took about 10 minutes.
Step 3⁚ Add a Payment Method
To add a payment method to Coinbase, I clicked on the “Payment Methods” tab. I then clicked on the “Add Payment Method” button.
I was given the option to add a bank account or a debit card. I chose to add a bank account.
I entered my bank account number and routing number. I then clicked on the “Add Bank Account” button.
Coinbase then sent two small deposits to my bank account. I had to verify the amounts of these deposits before I could start using my bank account to buy and sell Bitcoin.
How to Sell Bitcoin on Coinbase
To sell Bitcoin on Coinbase, I first clicked on the “Sell” button. I then entered the amount of Bitcoin I wanted to sell. I could choose to sell all of my Bitcoin or just a portion of it.
Next, I selected the payment method I wanted to use to receive the proceeds from the sale. I could choose to receive the money in my bank account or in my Coinbase wallet.
Finally, I clicked on the “Sell Bitcoin” button to complete the transaction. Coinbase then sent the proceeds from the sale to the payment method I had selected.
Step 1⁚ Select “Sell”
To sell Bitcoin on Coinbase, I first clicked on the “Sell” button. This button is located in the top right corner of the Coinbase homepage. When I clicked on the button, a drop-down menu appeared. I then selected the “Sell Bitcoin” option from the drop-down menu.
After I clicked on the “Sell Bitcoin” option, I was taken to a new page. On this page, I entered the amount of Bitcoin I wanted to sell. I could choose to sell all of my Bitcoin or just a portion of it.
Once I had entered the amount of Bitcoin I wanted to sell, I clicked on the “Continue” button. I was then taken to a new page where I could select the payment method I wanted to use to receive the proceeds from the sale;
Step 2⁚ Choose a Payment Method
When I sold Bitcoin on Coinbase, I was given the option to choose from several different payment methods. I could receive the proceeds from the sale in my Coinbase USD wallet, my PayPal account, or my bank account.
I chose to receive the proceeds in my Coinbase USD wallet. This is because I wanted to be able to use the proceeds to buy more Bitcoin in the future. However, if I had wanted to withdraw the proceeds to my bank account, I could have done so by clicking on the “Bank Account” option.
Once I had selected my payment method, I clicked on the “Continue” button. I was then taken to a new page where I could review the details of the sale. I made sure that the amount of Bitcoin I was selling, the payment method I had selected, and the amount of money I would receive were all correct.
Step 3⁚ Confirm the Sale
Once I had reviewed the details of the sale, I clicked on the “Confirm Sale” button. I was then asked to enter my Coinbase password to confirm the transaction. After I entered my password, the sale was complete.
The proceeds from the sale were immediately deposited into my Coinbase USD wallet. I was then able to use the proceeds to buy more Bitcoin or withdraw them to my bank account.
How to Store Bitcoin on Coinbase
I’ve been using Coinbase to store my Bitcoin for a few years now and I’ve been very happy with the security and convenience it offers. Here are the steps I took to store my Bitcoin on Coinbase⁚
- I created a Coinbase account and verified my identity.
- I purchased Bitcoin using my Coinbase account.
- I stored my Bitcoin in my Coinbase wallet.
Coinbase offers a variety of security features to protect your Bitcoin, including two-factor authentication, SSL encryption, and cold storage. I’ve always felt confident that my Bitcoin is safe and secure on Coinbase.
In addition to being secure, Coinbase is also very convenient. I can access my Bitcoin from anywhere in the world using the Coinbase website or mobile app. I can also buy, sell, and send Bitcoin with just a few clicks.
Overall, I’ve been very happy with my experience storing Bitcoin on Coinbase. I would definitely recommend Coinbase to anyone looking for a safe and convenient way to store their Bitcoin.