The Popularity and volume of Cryptocurrency have risen over the last few years. In 2010 crypto cryptocurrency market cap has around $2.9 billion. But, in 2021 market cap has been breached $2.09 trillion!. Growth is mind-blowing. And this is just the beginning!.
Also, cryptocurrency might be the Future of currency and if you want to be a part of this amazing journey, first understand cryptocurrency and create a Coinbase crypto wallet invest in it.
This blog gives you an overview of what is Coinbase, how to create an account, and how to invest in Cryptocurrency.
What is Coinbase?
Coinbase is a platform that’s you can buy-sell cryptocurrencies. In this platform, you can buy and sell cryptocurrencies like bitcoin, Ethereum, bitcoin cash, Dogecoin, and fifty other currencies.
Also, you can use Coinbase to send or receive cryptocurrencies from other peoples, or you can convert them into cryptocurrencies to another currency.
Coinbase, a simple beginner-friendly platform. A simple and strong interface helps you to buy, sell cryptocurrencies with ease. More than 68 million verified-identity customers, one of the top crypto exchanges in the world.
The most excited about Coinbase, this is the first cryptocurrency company to go public. Coinbase listed in Nasdaq April 2021.
How Coinbase Works?
Coinbase signup process is simple and easy to do. Provide your identity details, and fund your account and start trading.
Basics Before starting an account
- At least 18 years old
- A government issued ID card
- A phone number
- Up-to-date browser and operating system
Creating Coinbase Account
Once all the above points are considered, go to www.coinbase.com or download Coinbase mobile app from the android play store or the iOS App Store.
- Click Get started button
- Enter personal details same us your government ID
- First name, Last name, Date of birth, Email address, password
- Read and Agree User Agreement and Privacy policy
- Click sign up account or create account
Once all the above process is complete, Coinbase will email you with a confirmation link. Click the received email and verify your account.
Coinbase Verification
To block fraud and illegal activities, coin base will ask you to verify your identity. This verification can be done on both mobile app website.
Coinbase accepted identity documents
In us citizens, State issued ID — Driving license or identification card. In outside us citizens, this will be a government-issued photo ID, national identity card, or Passport.
Verify identity Documentation
After Sign in to your account,
- Go to settings
- Then select Account limits
- Click verify personal information and complete
- Click Verify Photo ID
- Select your id type
- Click Verify Photo ID
- Select file upload method
- Choose or select front-side and back side of ID
Once the upload is complete, the verification process may take up to 48 hours. Coinbase will email you once it’s complete.
Verify Phone number
Coinbase phone verification is a simple process. It will ask you for a phone number when you’re singing in, or later you can add a phone number from Coinbase settings.
- Select phone number country
- Fill up mobile number
- Click send code or Continue button
- Click submit button
What is Coinbase Pro?
Coinbase pro also owned by Coinbase global Inc founded in 2012. it’s mainly for individual traders and crypto enthusiasts. It offers a secure and easy way to sell, buy and trade digital assets in various trading pairs.
In trader’s perspective using Coinbase pro, see as short term 1-minute candle or use other trading tools like moving average, EMA(12), and EMA(26). For great trading experience.
Also, you can do additional trades like stop orders, time in force orders, and limit orders.
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Coinbase Charges
Coinbase will charge a fee when you buy, sell or convert cryptocurrencies. Fees are calculated in different metrics. Your order quantity, payment method, location, and market condition.
Coinbase charging fees will be shown on the trading preview screen before completing the transaction. So this allows you to decide on a time.
This is the United States payment method fees(maybe it will be changed later)
| CoinBase Payment methode | CoinBase fees |
| Debit/credit card | 3.99% |
| Bank Account | 1.49% |
| USD Wallet | 1.49% |
| ACH Transfer | Free |
| Crypto conversion | 2.00% |
| Wire Transfer | $10 |
Coinbase pro fee
Coinbase’s fees are less than normal accounts. Also, with Coinbase pro ACH transfers are free to deposit and withdraw.
Coinbase not charge any fees, holding funds in your Coinbase pro account.
| Pricing Tire | Taker Fee | Maker Fee |
| <$10K | 0.50% | 0.50% |
| $10-50K | 0.35% | 0.35% |
| $50-100K | 0.25% | 0.15% |
| $100K-1M | 0.20% | 0.10% |
| $20-100M | 0.15% | 0.08% |
| $100M-500M | 0.10% | 0.02% |
| $500M-$1B | 0.06% | 0.00% |
| $1B-$2B | 0.06% | 0.00% |
| $2B+ | 0.04% | 0.00% |
Coinbase Supported Crypto Currencies
- Bitcoin
- Ethereum
- Binance coin
- Cardano
- Solana
- USD coin
- Polkadot
- Dogecoin
- Uniswap
- Avalanche
- Algorand
- Chainlink
- Litecoin
- Bitcoin cash
- Wrapped Bitcoin
- Axie infinity
- Polygon
- Cosmos
- Internet computer
- Tezos
- Filecoin
- Stellar lumens
- Ethereum Classic
- Dai
- Eos
- Quant
- Shiba Inu
- The graph
- Terra usd
- OMG network
- Maker
- Amp
- Celo
- Dash
- Compound
- Chiliz
- Zcash
Coinbase Security
Coinbase provides a variety of security measures for its account holders. It’s important to understand and know any crypto exchange provides what are safety measures for account holders.
In Coinbase only you can use passwords that are random, long, unique. Also, Coinbase has biometric fingerprint logins, 2-step verification, insurance in that Coinbase itself is hacked or breached(this insurance is not applicable for yourself lack of knowledge or security measures).
Digital currency is not legal tender, and it’s not backed by any legal entity. So Coinbase insurance for Coinbase balances and holding them in USD denominated money market funds or liquid U.S. Treasuries.
If you have to need any help regarding Coinbase, please ask on the help section https://help.coinbase.com/en/contact-us
Coinbase Pros & Cons
Pros
- High security
- Low minimum funding starts from $0
- Many listed Coins
- Public listed company
- Insurance coverage
Cons
- High fees
- Not lots of altcoins
Coinbase Referral program
The Coinbase referral program lets you earn money for those who sign up and trade using your link. Copy and share your link to all social media platforms.
Once your friend account setup is complete, buy or sell one of Coinbase supported cryptocurrencies. Once, friend completes a buy or sell $100 or more cryptocurrencies, you both will receive a $10 referral bonus.
Please keep in mind, your friend's buy or sell must happen within 180 days, if they started the account.
Conclusion
Nowadays possible to make money by trading cryptocurrencies. So to do that, you must have an account in the crypto exchange that’s trustable and high security.
If any crypto exchange is shady, most likely you will lose your money. The most important thing is to pick the most reputable one. I know Coinbase fees are higher than other crypto exchanges. But those fees cover on best security and insurance coverage on your buying cryptocurrencies.
In these unregulated assets, hacking and featuring nine-figure losses are still possible. Keep in that mind, Coinbase is one of the best way to start your crypto journey.