Buy Bitcoin on Coinbase: Step by step guide
Coinbase is a well known exchange to buy/sell cryptocurrencies. At the moment there are 3 coins available: Bitcoin, Ethereum and Litecoin. Follow the steps below to do your first purchase:
- Go to Coinbase and fill in the form to create a new account (name, email and password). Note by following the provided link you (and me) will receive 10$ worth of Bitcoin for free (thanks!).
- Verification of your email will be needed afterwards. Open you email and click the link.
- Enter your phone number in the next screen. A sms will be sent to it to verify it.
- Before being able to do any purchase you will need to verify both identity and payment method. Click on your username and open the Settings menu.
- Click on Limits to verify your identity (upload a photo of your ID card or driving license).
- Click on Payment Methods to verify a credit/debit card. An identity must be verified first.
- Both processes can take up to a few hours.
- In the top menu Buy/Sell will get you to your first coin purchase. Choose your coin, amount you want to buy and your payment method. That is all!
- Note there is a fee whenever you buy or sell any coin.
- The Accounts menu will show the current value of each wallets.
Two-Factor-Authentication (2FA) is very recommended as that will add an extra layer of security to your account. Again, under Settings find Security and then click on Enable Authenticator (note your phone number must have been verified first).