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How to Buy Bitcoin and other cryptocurrencies with Coinbase

This is a quick little guide on how to create an account at Coinbase and how to buy Bitcoin and other cryptocurrencies in Coinbase

Coinbase is one of the world’s largest, most well-known and used stock exchange exchanges. Here you can easily buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash and other popular cryptocurrencies. Below you will find a quick guide to getting started with Coinbase’s cryptocurrency trading.

For more elaborate information about how you can invest in Bitcoin, advantages and disadvantages with the different crypto exchanges, check out Investostrends article on how to invest in Bitcoin

Part 1 – How to create an account with Coinbase

Click on Coinbase.com and start creating an account, if you use this link you get (and I) Bitcoin for $ 10 free if you buy Bitcoin for more than $ 100.

1.1 How to create an account

When you click on the link to Coinbase you will see a screen like this. Fill in the information about you and click on “Sign up”

You must then verify your email, log in to your email and click on the link

When you have done this, you can log in to Coinbase to complete your account. Here it remains only to add ID and payment options.

1.2 How to add identification

Before you can add payment options, you must verify your ID, click and select which ID type you want to use to identify yourself. Here you can choose between Pass and Driver’s license.

When you have selected the type of identification paper you get the choice of how you want to submit this, here you just take a picture of the front page and the back of the driver card:

Verify ID at coinbase

Once you have submitted this it will take some time before you can confirm that the ID is valid. With me it took no more than 3 minutes. Once ID is verified, you can proceed to adding payment options

1.3 How to add payment options in Coinbase

Remember to fill in your address under “My profile” before proceeding to add payment options. Enter your profile and select “Payment Methods” and then click “Add Payment Method”

Payment options on Coinbase

Here you can choose between 2 different payment methods, either bank transfer or debit / credit card.

If you choose cards you can buy / sell immediately, bank transfer takes a little longer, but can be most beneficial for higher investments. Anyway, I would recommend you add a bank account so that it is ready for the day you want to withdraw money from Coinbase (see 1.4).

For card payment, fill in the card information in the form (note the fee for the purchase / sale of the cross currency currency)

When you have finished clicking on “Next” then you are suddenly ready to buy Bitcoin!

1.4 How to withdraw money from Coinbase

When you sell Bitcoins or other cryptocurrencies at Coinbase, the money will be transferred to your account. It is therefore okay to set this up right away, as it takes some time to get it verified. Click on “Add payment method” again and select bank transfer.

You will then receive an information on verifying your bank account. You do this by sending a tiny foreign payment to Coinbase (Like 0.15 Euro) with the information provided (Remember your reference in the payment message). Once the bank account is registered, you can sell and withdraw the money from Coinbase to your bank account. The money will be in account 1-2 days after.

1.5 How to send bitcoin to another wallet in Coinbase

You can also send Bitcoin to another wallet than in Coinbase (this is often recommended if you are to keep the cryptocurrency for a long time). You can do this easily by going to “Accounts” and clicking “Send” under the cryptocurrency you want to send.

Part 2 – How to Buy Bitcoin at Coinbase

This may be the world’s shortest guide on how to buy bitcoin, because once the account is created and ready, it is the world’s smallest case to buy Bitcoin in Coinbase. Just click on “Buy / sell”, select cryptocurrency, payment method, amount and “Buy”.

Remember, if you use the link above and want the free 10 dollars in Bitcoin, then you have to buy for more than $ 100.

 

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  • I’m a fellow Canadian as well and found we can buy ether from Coinbase. Did you consider buying from Coinbase instead of buying bitcoin then convert into ether?