Wondering about Cryptocurrency For Beginners and digital assets? Then you are in the right place. You need to register with a crypto exchange like Coinbase to be able to buy or sell any cryptocurrency of your choice.
Coinbase is a marketplace where you can buy, sell, swap, convert, and invest in different cryptocurrencies with a view to making a profit. Ahead, you will learn about Coinbase, how to create an account, and how to buy/sell cryptocurrencies on Coinbase. Let’s get started.
What is Coinbase?
Coinbase was launched in 2012 to help beginners like you to easily access the cryptocurrency market. It’s the world’s leading cryptocurrency exchange that lets you trade or invest in over 100 tokens, including popular ones like Bitcoin, Binance Coin, and Ethereum.
Is Coinbase free?
Coinbase is not free. The exchange charges a fee for every transaction that is conducted on their marketplace. However, the fees are generally competitive if you are a beginner.
How to open a Coinbase account
The process of opening an account on the Coinbase platform is simple and straightforward. To open an account, all you need to do is to visit the official website of Coinbase and click on the account opening tab.
Once you access the account opening form, you will provide your personal contact information, email address, and social security number as applicable. You will also need to submit a government-issued identity card and a photo of yourself.
Review the application process and submit the application form for approval. Once your account has been approved by the Coinbase team, you will be alerted through your email.
You can then access your dashboard to start trading or investing in different cryptocurrencies. Coinbase supports a long list of payment methods, including bank transfer, wire transfer, PayPal, Skrill, Netller, among others.
Is It a good time to invest in cryptocurrency?
Generally, there’s no perfect time to invest in cryptocurrencies, but experts advise that we wait for the prices to drop before we place a buy order.
If you take a look at the current cryptocurrency market, you will discover that the prices of most tokens on the market have plummeted to their all-time lows, suggesting that this is the right time to invest in cryptocurrencies.
How to buy and sell cryptocurrency with Coinbase
Compared to other cryptocurrency exchanges, buying tokens on Coinbase is simple and self-explanatory. Follow the steps below to buy your first token:
How to buy cryptocurrencies on Coinbase
Login to your Coinbase account and navigate to your dashboard. Click the “Market” tab and select the cryptocurrency you would like to buy and then the best part is going to come!
Enter the amount of cryptocurrency that you are interested in buying and then select preview to review your transaction. Tap the “buy now” button to complete your purchase if all the details that you reviewed are correct
How to sell cryptocurrencies on Coinbase
Selling cryptocurrencies on Coinbase is also as simple as the buying process. Here is how to go about it: Log into your Coinbase account and select the “Sell” button. Select the cryptocurrency you would like to sell and enter the amount. The next process is to choose the bank account you want the asset to be sent to. Review the transaction and complete the process.
There you have it! The cryptocurrency industry is a money-spinning space that you can dive into to start earning passive income if you have the right knowledge and technical know-how on how to invest in coins that have the potential to grow.
Having an account on Coinbase is a plus, as the exchange has all the tools to make you a professional crypto trader. The registration process on coinbase is simple and straightforward.
The exchange has a dedicated and responsive customer support team that will hold you by the hands and walk you through any challenge or difficulties that you may likely be facing.
So, if you are ready to tap into the potential that the cryptocurrency space comes with, then you can register on the Coinbase platform to start trading or investing in cryptocurrencies.
Frequently Asked questions
Is Coinbase legit?
Cryptocurrency for beginners certainly, Coinbase is 100% legit. It is the world’s leading cryptocurrency exchange on the market. It boasts of over 100 tokens that are listed by different blockchain developers from across the world. You can confirm the legitimacy of coinbase by reviewing their testimonial page to see what other users have said about them.
How do I add money to my Coinbase Wallet?
The process of adding money to your Coinbase wallet is simple and straightforward. If you already have an account with Coinbase, you will need to log into your account to access your dashboard. Navigate to your wallet balance and then select or click on the deposit tab.
Depending on the currency you wish to deposit in your Coinbase account, select your preferred currency in the currency type field. Select the bank account you want to use to make the deposit and enter the amount you wish to deposit. Review the transaction and click on “Deposit Funds”. The funds will appear in your PayPal balance.
Why can’t I sell my crypto on Coinbase?
There are a number of reasons that can be responsible for not being able to sell your cryptocurrencies on Coinbase. Engaging in prohibited activities is one of the leading causes why Coinbase may prevent you from selling the cryptocurrencies in your wallet. Secondly, withdrawing more than your Coinbase balance can also make the system reject your request.
How long does Coinbase hold your money?
Generally, Coinbase takes at least 3 working days to complete a withdrawal transaction to your bank account. If you are based in the United States, then you can expect to see the balance of your withdrawal in your bank account within 3-5 business days.
This exchange will deduct the amount you want to transfer to your bank account from your source account as soon as you place a withdrawal request.
Can you withdraw money from Coinbase to your bank account?
Of course, you can withdraw your earnings from your cryptocurrency wallet on Coinbase to your bank account. However, to withdraw your money to your bank account, you will, first of all, need to convert the cryptocurrencies in your wallet to fiat money.
You can also sell the cryptocurrency in your wallet to interested buyers. On Coinbase, there is no limit to the amount of money you can withdraw to your bank account.