One of the biggest trends and names in the modern investment world today are cryptocurrencies. These are digital currencies that can be bought, traded, and sold without requiring a physical central bank.
These days, securing your digital currencies is a must, especially in a cutthroat industry where hackers and malicious attackers are interested in gaining access to your personal financial accounts. This is where Coinbase comes in.
With more than 10 million users across the globe, Coinbase continues to be one of the most widely used platforms for trading and storing digital currencies. To know more about this and its Coinbase Coins, keep on reading.
What is Coinbase?
Coinbase is a secure online platform designed to help users purchase, sell, transfer, and store digital currencies. It is considered to be a digital asset exchange company that facilitates currency exchanges, wallet storage, and more.
Types of Coinbase Coins and Cryptocurrencies Available
As of writing, Coinbase supports a number of Coinbase Coins currencies. These include the Bitcoin, Bitcoin Cash, Chainlink (LINK), Doge Coin, ERC-20 tokens (including USDC and DAI), Ethereum, Ethereum Classic, Litecoin, Stellar Lumens, and XRP.
It also supports other digital assets with fiat currencies in approximately 32 countries.
How to Purchase Coinbase Coins Using the Coinbase Website
With cryptocurrency being the hottest trend today, you may be interested in learning how to purchase Coinbase Coins.
To do this, however, you are required to have a Coinbase account linked to a bank account or credit or debit card in order to buy the cryptocurrencies of your choosing.
Linking a bank account allows you to get higher limits per week or per transaction. However, this can also take a much longer time to verify. Meanwhile, linking a debit or credit card facilitates faster fund transfers, albeit a much smaller limit.
Creating an account is simple. All you need to do is download the app or head to the Coinbase website. Register details such as your name, email address, and password to successfully sign up. Then, add a payment account of your choice.
On the top-right corner of the Coinbase website or application, select ‘trade’ to start purchasing the Coinbase Coins you wish to buy. After keying in the amount you want to spend, choose how you intend to pay, and then tap on ‘preview purchase.’
Review the details and select ‘Buy now’ to proceed.
Bear in mind that purchasing Coinbase Coins or other cryptocurrencies comes with a certain fee. The fee levied on your purchase depends on how much cryptocurrency you buy and the type of payment you use.
Move fast to ensure you purchase it at the intended exchange rate, otherwise, the purchase may fail and it might give you another rate.
Selling or Trading Coinbase Coins
In the event you decide to trade or sell your cryptocurrency, doing so is just as easy as purchasing and setting up your account. As a matter of fact, all you need to do is select the ‘trade’ button again found on the upper right-hand corner to sell this.
Selling or trading would give you the option to funnel in your sales towards a deposit on your bank account or to your debit or credit card. However, you also have the option to convert it to another Coinbase Coins cryptocurrency via the Coinbase exchange feature.
As you might know, Coinbase also serves as a wallet of sorts to help individuals store their funds and cryptocurrency assets offline. Apart from purchasing, selling, or trading on the platform, you can also conduct wallet transfers with ease.
To do this, go to the cryptocurrency wallet you wish to send from and then tap on ‘Send.’ If you’re sending it to a wallet outside of Coinbase, choose ‘wallet address’ found under the send dialog. If you’re sending the cryptocurrency through email, select ‘Email Address.’
Key in the amount you wish to send and tap on ‘Continue’ to proceed. Confirm the details, and voila!
The Bottom Line
With Bitcoin and cryptocurrency’s value surging ever so often, learning the ropes of the industry is no doubt one of the niftiest tricks you can do for yourself and your finances.
With the help of Coinbase, you can take advantage of what crypto tech has to offer.