Coinbase is a digital currency exchange that allows users to buy and sell cryptocurrencies, such as Bitcoin (BTC), Ethereum, and Litecoin. It was founded in 2012 and is headquartered in San Francisco, California. Coinbase offers a wide range of services, including a wallet for storing digital currencies, a platform for trading cryptocurrencies, and a suite of tools for merchants and businesses to accept digital currencies as payment. The company is known for its user-friendly interface and has been a popular choice among cryptocurrency beginners.
In this article, we will explain the steps you need to follow to buy and sell cryptocurrency on Coinbase.
Buy and sell cryptocurrency on Coinbase
First, you need to create an account on Coinbase. Visit the Coinbase website and click on the “Sign Up” button in the top right corner. Fill in the form with your name, email address, and password, and then click on “Create Account“.
Once your account is created, you will need to verify your identity. Coinbase requires users to verify their identity for security reasons. This process usually involves uploading a government-issued ID, such as a passport or driver’s license.
After your identity is verified, you can add a payment method to your account. Coinbase supports various payment methods, including bank transfers, credit and debit cards. Select the payment method you want to use and follow the instructions to add it to your account.
Now that your account is set up and your payment method is added, you are ready to buy cryptocurrency. On the Coinbase homepage, select the cryptocurrency you want to buy from the list of available options. Enter the amount you want to buy, and then click on the “Buy” button to complete the transaction.
Once you have bought cryptocurrency, it will be stored in your Coinbase wallet. You can see your wallet balance and transactions by going to the “Accounts” tab in your Coinbase account.
To sell cryptocurrency, go to the “Accounts” tab and select the cryptocurrency you want to sell. Enter the amount you want to sell, and then click on the “Sell” button to complete the transaction. The funds from the sale will be credited to your payment method.
Conclusion
That’s it! These are the steps you need to follow to buy and sell cryptocurrency on Coinbase. With a user-friendly interface and support for multiple payment methods, Coinbase makes it easy for beginners to get started with cryptocurrency trading.