Guide to Coinbase for Beginner’s and a Complete Review

So far you have heard the word Bitcoin hundreds of times. Some of you are well aware of what Bitcoin is and what it is used to do. Those who know about Bitcoin, they will surely know about the wallet used for it. However, many times they make mistakes in determining the right wallet. Today we will talk about the best bitcoin wallet ‘Coinbase.’So let’s get started,

What is Coinbase?

Just like PayPal, Payza, Payoneer, Skrill, you get your earning money from various sites, just as there are some sites where you can keep bitcoin in various ways, give others or take it from someone else. There are many Bitcoin Wallet sites, but we will discuss today, its name is Coinbase.

Coinbase is a quite popular Bitcoin Wallet. Coinbase is a secondary online platform. That allows you to buy, sell, and save bitcoin and any digital currency. Different online income sites offer payment of bitcoin and digital currency to these Coinbase accounts. Most Bitcoin service providers make payment in this Coinbase account. It is more popular than other Bitcoin wallets.

Why Coinbase better than others wallets? What’s the benefit of it?

Coinbase is better than other wallets because it offers more secure and better service than others. There is no doubt that Coinbase is the best user throughout the world, so undoubtedly Coinbase is a good medium for bitcoin. That’s why it has so much user throughout the world. Also, for money transfer, it charges fewer fees than others. One of the advantages of this is that it allows you to buy or sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin. All of them are supported in Coinbase.

You might be surprised to hear that it has more than 11.7 million users, and increasing day by day. It also offers services in 32 countries. The Coinbase account is very easy to open and use. Let’s know, how to create a Coinbase account.

How to create a Coinbase account?

  • To, create a Coinbase account, first, go to Coinbase home page. To go, click on this link. Then you will find a page like below given picture. Click on Sign Up.

  • Enter your email then click on ‘Get Started.’

  • Then, You will directly get a signup page.
  • Fill in your name, email, password.
  • Keep in mind, always use a strong password.
  • Solve google reCAPTCHA.
  • Mark the user agreement.
  • And, click on ‘Create account.’

  • Now you will receive a verification link by email.
  • Go to your email account.
  • Verify your Email.

  • Then, You have to verify your Phone number.
  • To, verify your phone number-
  • First, select your country
  • Then add your phone number.
  • Click on, ‘Send code.’

  • You will get a 7-digit code in your phone.
  • Directly use this code and click on Submit.
  • Your phone number will verify successfully.

The payment methods those you can use in Coinbase, and its fees:

Payment Method    Countries    Currency    Fees
Bank Transfer USA USD 1.49%
Credit / Debit Card USA EUR 3.99%
Credit / Debit Card UK GBP 3.99%
Credit / Debit Card Europe EUR 3.99%
SEPA Transfer Europe EUR 1.49%
Credit / Debit Card Australia AUD 3.99%
Credit / Debit Card Canada CAD 3.99%
Xfers Transfer Singapore SGD 1.49%

How fast is Coinbase to Send Bitcoin payments?

It’s hard to tell how much time Coinbase does to get Bitcoin to send. Because, depending on which country you live in and use any method to withdraw, it depends on time much or less. In particular, if you use credit or debit card in countries like USA, Canada, Europe, you will get instant payment. Moreover, it may take 5-7 days for the bank transfer.

Are there any transfer limits?

Coinbase usually has limited access for transfers as a weekly for buy and sell. And this limit is calculated, depending on the amount of information given on your account. Therefore, comparatively more can buy and sell in Verified accounts. So, to increase your weekly limitations, it is very important that your account information should be large and be Verified. So,

  • Verify your phone number
  • Provide your all personal details
  • Provide your photo ID
  • Established a purchase history by buying and selling through the exchange.

Coinbase Pro

Coinbase Pro is a part of Coinbase. Coinbase Pro is designed specifically for individual traders. Coinbase Pro always communicates with key traders about key issues related to the market’s upward spiral that related to cryptocurrency. Coinbase Pro has real-time order books, trade histories, and charting tools. Coinbase Pro is not for everyone. It is for pro traders. If you are in Coinbase Supported Areas, you can easily open a Coinbase Pro account. You can also login to Coinbase Pro by using your previous Coinbase account. Also, you can upgrade your Coinbase account to Coinbase Pro very quickly.

Especially Canada, Singapore, Australia, UK, Europe, and the U.S. can support Coinbase Pro to access cryptocurrencies without any access to fiat. To use Coinbase Pro, you need to verify your account. To start trading or deposit funds, this process must be done.

What do you need to verify Coinbase Pro?

  • To verify Coinbase Pro, you must first provide an official document.
  • If you are a US customer, then you must submit a copy of a driver’s license or state ID.
  • You must specify the last four numbers of your social security number, including your residential address.
  • UK users must provide copies of their national ID copy, driving license, or passport. Also, answer Verification may be needed.
  • Users of other countries must complete the same verification process.

What’s benefit on Coinbase Pro?

  • It has more advanced tools for buying and selling. By using its advanced tools for any type of order; you can order, set order limit of orders, and cancel an order.
  • It has advanced trading options.
  • For trading, it sets cheap fees. Coinbase Pro offers 0% of the cost for making an order, or between 0.1% and 0.3% for taking an order.
  • It is API Supported.
  • There is a lot more information available in Coinbase Pro.

Coinbase Pro Currencies

Coinbase Pro currently available for trading are five:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)

Is Coinbase Safe?

Since it is the one of the world’s largest Bitcoin exchanger, its security is definitely better. Its security platform uses high-quality technology. And it’s a US-based company site, so it has enough security for users. Besides, it supported by trusted traders. During or after opening an account, Coinbase collects a lot of information about you, so that you can not do scamming. For example, phone number, photo ID, NID, credit card, etc. Besides, technically it also provides security to users always.

It offers two factor 2-factor authentication (2FA) services, either an extra SMS login code or a TOTP app like Google Authenticator. Also, each time you log in, it sends an access link to your email account. So that, it can understand whether the same device is being logged-on. Therefore, scammers or hackers cannot easily access or log in to your account from unauthorized devices.

Customer support

Coinbase has an active support team, always provide services to users. To resolve any issues you may have, contact their support team. It has a great customer support assistance. It offers 24-hour phone support to customers. You can learn more from here about how to contact customer support.

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