Investing in cryptocurrencies is one of the earning paths most crypto enthusiasts take to make a bit off the profitable markets. For instance, a lot of customers hold onto their Bitcoin and other cryptos in the hope that its value goes up.
While a lot of persons have made money via this method, the thing with it is, you may have to be a little bit patient with the process as it might take up to weeks or months for a sellout.
Well, if one does not see investing in crypto as a Ponzi or a fast rich scheme then this can be one of the safest earnings ways because you are not pressured of losing your money.
For you, all you need to do is readily monitor and follow up on the market and sell out your cryptocurrencies when they appreciate in value.
Even more, some holders – crypto enthusiasts rebuy and hold again for another round of profits after a sellout when the coin deepens (goes down in price).
If you are doing this, then I recommend you store your cryptos on a reputable Crypto website like on Coinbase (I’ve been using it since 2016) or transfer it to a private wallet like on Ledger Nano or even Trezor
And of course, if you’re using an online or hot wallet like Coinbase, it is recommended you activate second layer security like 2-Factor authentication.
Be it as it may, today if you are looking for the right steps to investing or buying Cryptocurrencies on Coinbase then this guide will do justice to that.
The Best Way To Buy Cryptocurrencies On Coinbase
The best way to buy cryptocurrencies on Coinbase is firstly buying Bitcoin (BTC) using either your credit card or bank account.
With this method, you can easily use the purchased Bitcoin (BTC) in investing or buying up other cryptocurrencies available on the Coinbase website.
And not forgetting the fact that you will get an extra $10 if you buy up to $100+.
Top 13+ Available and Supported Cryptocurrencies To Buy On Coinbase Website
Coinbase crypto exchange provides varying levels of support for different cryptocurrencies.
The availability for buying, selling, depositing, and withdrawing supported cryptocurrencies varies by cryptocurrency. Fees and availability also depend if your country is eligible to make a purchase, and payment method.
Be it as it may, below are a few of the supported cryptocurrencies on Coinbase.com.
With all the introductions out of the way, let’s now see the process of investing or buying cryptocurrencies on Coinbase.
Coinbase Sign Up
Step 1. Sign up and create an account
To start the process of buying cryptocurrencies on Coinbase, you need to sign up for an account. And that is as simple as accessing Coinbase and entering your information (name, e-mail, and password).
Step 2. Verify your email
Go to the used email account and click the link sent from Coinbase to verify your account ready for purchasing cryptos.
Step 3. Set Up Your Account for Transactions
Just after verifying your account via the email link, you will be prompted to verify your phone number and ID.
The later verifications take roughly 2 minutes – with the sole purpose of preventing identity theft or fraud, so, go ahead and provide a photo ID to make sure it’s really you.
How To Effortlessly Buy Bitcoin And Cryptocurrencies On Coinbase Exchange
Just as we said, the best way to buying digital assets on Coinbase is firstly buying Bitcoin before using the purchased BTC to place orders for other cryptocurrencies, so, very quickly, let’s see how to buy Bitcoin.
Step 1. Set up your Payment Method
Of course, you will first have to log in if you had logged off. Go ahead and log in to your account.
When done, you need to select your payment option. No need to worry as you will see this option immediately after confirming your phone number.
Going on, select your preferred payment option. At Coinbase, you can either use your Credit/Debit or linked bank account to make a purchase. Whichever method you want, go ahead and click the path as shown in the prompt (Credit/Debit or Bank) to link the payment route.
If you want to make an instant purchase then I recommend you use the popular method which without a doubt is using your credit/debit card.
Step 2. Buy Bitcoin *(get extra $10)
Having selected your payment route (Credit/Debit or Bank), go ahead and select the amount of Bitcoin (BTC) you want to buy and proceed.
If you want an extra $10, then you’ll have to purchase a minimum of $100 Bitcoin only. So, with your $100+ in Bitcoin (BTC) ordered, you will get an extra $10 totaling $110 as a new customer or on your first purchase.
Upon entering your account, click to make the purchase and proceed to the last step.
Step 3. Buy Cryptocurrencies
Having successfully purchased Bitcoin, all you need to do now is select your preferred cryptocurrencies as available on Coinbase, enter the amount you want to buy, and “click on Buy instantly” as the first time.
Let’s say we wanted to order/buy Ethereum on Coinbase. What to do is “select Ethereum” and enter your amount and click on buy Ethereum instantly.
That is all you have to do to invest or purchase any type of available cryptocurrencies on Coinbase crypto exchange.
Other Questions & Answers about Buying Cryptocurrencies on Coinbase Website
Why is Coinbase the best place to buy Bitcoin/Cryptocurrencies in terms of Complexity?
As per usage since 2016, Coinbase is the simplest crypto platform to use based on the simple & intuitive interface offered to users.
Why is Coinbase the best place to buy Bitcoin/Cryptocurrencies in terms of Security?
Apart from the fact that Coinbase is backed by top investors, the crypto site has one of the best Industry-leading security infrastructures plus insurance which means your crypto and personal info are safe.
Why is Coinbase the best place to buy Bitcoin/Cryptocurrencies in terms of Payment Option?
Apart from using PayPal to purchase Cryptos which a few crypto exchanges do, with Coinbase, you can easily use your debit card or connect your bank account and invest in any cryptocurrencies of your choice.
How can I Withdraw my Cryptocurrencies on Coinbase Exchange?
Selling crypto on Coinbase is easy, and you can withdraw your proceeds to your bank, debit card, wire, or PayPal account. Yes, if you want to use PayPal, then you can easily do that on withdrawal.
Is it safe to add a bank account to Coinbase?
Coinbase goes to great lengths to keep all of your sensitive information safe. That is, your account numbers and routing numbers are stored using bank-level AES-256 encryption on its servers.
To be proactive, you may want to use a temporary password without still losing access to Coinbase buy and sell services using the verified bank account.
More so, with bank account transactions, you might by-pass some verifications as with your credit/debit cards, and additionally, you can buy higher limits of digital assets.
Want to own or purchase cryptocurrencies on Coinbase? The process is very simple. First, you have to buy Bitcoin (BTC) using either your Credit/Debit or bank account.
From there, you select the next crypto asset you want to buy and convert any portion of your Bitcoin balance to another crypto.
And lastly, if you want to get an extra $10 for your crypto investments, then go ahead and order up to $100 and you will surely get it deposited in your account.