Last updated on January 23rd, 2024 at 08:56 am
Are you starting to trade cryptocurrency? You probably know about learn Coinbase to trade. It’s a big U.S. crypto exchange. You can buy, sell, and hold digital coins there, like bitcoin and ether. Many ways exist to trade crypto now, even on Venmo or Cash App, or using Robinhood. But Coinbase is famous, with over 110 million users. It became public in April 2021, showing trust in digital money. Since then, crypto prices and the industry have been crazy. But folks still use Coinbase learn. It’s easier to trade crypto these days. In this article let’s learn about coinbase.
Table of Contents
What is Coinbase?
Coinbase is a user-friendly trading platform where people can buy, sell, and store cryptocurrency. It offers around 240 tradable assets, making it accessible for beginners. Advanced Trade, tailored for experienced traders, accommodates high-volume transactions and diverse trading choices. Coinbase phased out its premium service, Coinbase Pro, in June 2022, shifting users to Advanced Trade. The popularity of investment apps like Robinhood has surged, benefiting platforms like Coinbase, now accessible in over 100 countries.
The interface is simple; users monitor their balance, create a watchlist, and track various cryptocurrency prices. Traders can identify top-performing cryptocurrencies and even enjoy rewards through the Coinbase Card, a Visa debit card. In September 2021, Coinbase introduced direct deposit, enabling users to receive paychecks in cryptocurrencies like bitcoin. Coinbase remains a versatile platform, pivotal in the booming world of cryptocurrency investments. Coinbase learn crypto to trade on coinbase.
How to open a Coinbase account ?
Creating a Coinbase account is simple. You can learn about coinbase signup process.You need a government ID, phone number, and the last four digits of your Social Security number. Answer questions about your platform use and choose a strong, unique password for security.
Before trading, link a payment method like a bank account, debit card, wire transfer, PayPal, Apple Pay, or Google Pay to your Coinbase account. Not all methods support cashing out, so check your options.
Once your digital wallet is set up, you’re set to trade. Coinbase continually adds new coins, though not all cryptocurrencies are available.
To make an account, be at least 18 years old with a government-issued photo ID, internet access, and the latest web browser. Enter your info, create a strong password, and confirm your age.
Add a payment method like a bank account, debit card, PayPal, Apple Pay, or wire transfer to move money into your Coinbase account. Note that PayPal is only for U.S. customers.
Go to https://www.coinbase.com in your computer’s browser.
Click “Sign up.”
- Provide accurate info: full name, email, and password.
- Read User Agreement and Privacy Policy.
- Check the box and click “Create account.”
- Verify via email from no-reply@coinbase.com.
- Verify your email
- Open the email from Coinbase.
- Click the link to return to Coinbase.com.
- Sign in with email and password.
- Verify your phone number
- Log in to Coinbase.
- Add your phone number.
- Choose your country.
- Enter your mobile number.
- Click “Send Code.”
- Enter the seven-digit code.
- Click Submit.
How to Register a Coinbase Account【APP】
Open “Google Play Store” or “App Store.” Type “Coinbase” in the search box and search.
Click “Install” and wait for the download.
After installation, tap “Open.”
On the Home page, select “Get started.” Find the registration page.
1. Create Your Account
To begin, open the Coinbase app on your Android or iOS device. Tap “Get started.” Provide accurate information:
- Legal full name (proof may be required)
- Email address (ensure access)
- Password (store securely)
Read the User Agreement and Privacy Policy. Check the box, then tap “Create account.” Verify your email by clicking the link sent by Coinbase.com. Sign in again using your email and password.
2. Verify Your Email
Select “Verify Email Address” in the email from no-reply@coinbase.com. Click the link and sign in.
3. Verify Your Phone Number
Sign in to Coinbase, add your phone number, select your country, and enter the mobile number. Confirm the code sent to your phone. Congratulations! Your registration is successful.
How To Verify Your Identity on Coinbase ?
Coinbase ensures account security and prevents fraud by regularly verifying users’ identities. This helps protect your payment information and maintain trust.
- Required Information
Coinbase collects necessary information, as required by the law, to combat money laundering and verify your identity. This data also enables better services and keeps you updated based on your preferences. Your data remains secure; we don’t share it without your consent. - Accepted Identity Documents
To verify your identity, Coinbase accepts documents like Driver Licenses, National Identity Cards, and Passports, but only if they are valid. - Documents Not Accepted
US Passports, Green Cards, School IDs, and others are not accepted. Only state-issued IDs or government-issued documents are valid.
Verifying Identity on the App
- For iOS and Android
Follow these steps on the mobile app:
- Tap on Profile Settings
- Select document type
- Follow prompts to upload your ID
2. Verify Phone Number
- Tap on Profile Settings
- Under Accounts, select Phone Numbers
- Verify a new phone number
How to Trade Crypto and learn Coinbase ?
Using Coinbase wallets, one can send and receive supported cryptocurrencies, available on mobile and web.
Sending:
To another Coinbase user, use off-chain sends for instant transfers with no fees. On-chain sends incur network fees.
On the Web:
- From the Dashboard, select Pay.
- Click Send.
- Enter the crypto amount.
- Add the recipient’s crypto address, phone number, or email.
- Optionally, leave a note.
- Choose the asset and tap Continue, then Send now.
On Coinbase Mobile:
- Tap Pay.
- Select Send.
- Enter the crypto amount.
- Choose the asset and confirm.
- Add the recipient’s info.
- Optionally, leave a note, and follow the prompts.
How to buy and sell cryptocurrencies on Coinbase ?
If you’ve connected a payment method to Coinbase, buying and selling is simple. Here are the steps to learn about coinbase:
Download the Coinbase app on your iPhone or Android. Now, let’s buy some cryptocurrency, starting with a fraction of bitcoin. The process is the same for all Coinbase currencies.
Tap “Get started” at the top. Choose Etherum. Decide how much to buy; you can buy even small amounts. The minimum order is $1.99.
Tap “Preview buy.” Review the order; remember Coinbase takes a percentage.
Select “Buy now.” Now, let’s learn how to sell your crypto assets. Tap the blue circle icon, then “Sell.”
Choose the asset to sell, like bitcoin. Decide how much or tap “Max” to sell it all.
Review, noting the Coinbase fee. Tap “Sell now.” If you’re ready to withdraw to your bank account, tap your portfolio balance, choose the U.S. dollar, tap “Withdraw.” Select your bank account; the transfer takes 1-3 days. You can also add a debit card for an instant transfer. That’s it! You’ve learned how to set up Coinbase, buy and sell cryptocurrencies, and withdraw to your bank.
Order Type On Coinbase
Placing Different Types of Orders
Market Order
On the order panel, choose Market for instant execution at the current market price.
First, select a trading pair, then tap Buy or Sell, and specify the order size. Confirm it.
Market orders quickly use up available market liquidity and can’t be canceled. No price guarantee is given.
Protection Points: Non-stable pairs have a 10% protection point to avoid excessive price shifts.
For stable pairs, it’s 1%.
Limit Order
Opt for Limit to set your own minimum execution price. This can be for buying or selling.
Begin by selecting a trading pair, tapping Buy or Sell, specifying size, and confirming the order.
Enhance with execution and expiration instructions from the dropdown menu.
You can also use shortcuts like MID, BID, or specify a percentage from the competitive price.
Execution Options
- Post Only: Order sits on the book, avoiding taker fees.
- Allow Taker: Executes even if it crosses the spread.
Expiration Options
- Good ‘Til Canceled (GTC): Order stays until you cancel it.
- Good ‘Til Time (GTT): Remains until a set time or until you cancel it.
- Immediate or Cancel: Order is canceled if not filled instantly.
Stop-Limit Order
Select Stop Limit on the panel to place a limit order automatically when the stop price is reached.
For this order, pick a trading pair, tap Buy or Sell, specify stop and limit prices, and confirm.
Stop orders trigger instantly when the stop price is met.
Expiration Options
- Good ‘Til Canceled (GTC): Order remains until canceled.
- Good ‘Til Time (GTT): Order remains valid until a specified time.
In summary, market orders execute instantly at current prices, limit orders let you set your own price, and stop-limit orders trigger limit orders at specific prices. Ensure you understand these order types before making your moves.
Why Coinbase is better than other exchanges?
Coinbase stands out for its unique features. It focuses on top-tier security, with two-factor authentication and robust encryption. Cold storage keeps 98% of assets offline. Crime insurance safeguards against hacks. They offer 24/7 customer support and a user-friendly interface. You can also learn about crypto and earn rewards through courses.Is Coinbase safe for big investments? It’s a newer platform but has security like two-factor authentication. Still, attacks can happen.
Online, stories emerge of drained accounts. Use a non-custodial wallet or a hardware one. These let you control your crypto, not Coinbase. Even if your Coinbase is breached, your money is safe. Remember your private key. Some lost millions due to forgotten keys. I Coinbase is secure but staying safe is on you.Cryptocurrency lacks FDIC or SIPC insurance. Coinbase has crime insurance but not for unauthorized access. They keep 98% digital currency offline. Up to $250,000 FDIC-insured on Coinbase.
Conclusion
Coinbase makes it easy for new cryptocurrency users. You can buy and sell crypto with a simple interface. But, not all coins are available. Watch out for fees, especially for small purchases. For instance, under $10 costs almost 10% in fees. That’s in addition to the price mark-up. Coinbase suits beginners, but not everyone. To avoid high fees and delays, explore other ways to buy Bitcoin. Learn about coinbase If you invest in crypto, diversify with stocks, bonds, or real estate. Keep cash accessible, ideally in a money market or high-yield savings account, to handle crypto’s ups and downs.
