Coinbase is a digital wallet and platform based in San Francisco, California. Founded in 2012 by Brian Armstrong and Fred Ehrsam. It currently has more than 10 million users and more than 217 million dollars collected from the most important investors in the world.
In particular, one of the most well-known investors is BBVA Ventures. Project promoted by the well-known bank BBVA to invest in startups made at the beginning of 2015 an investment ofapproximately 75 million in this platform.
Like other purses, Coinbase will allow you to operate with cryptocurrencies in a simple and safe way. If you are new to this world of virtual purses and coins but have previously used electronic payment processors such as PayPal or Payza, the operation of Coinbase will not be too complex for you.
Registration and first steps in Coinbase
To be able to create an account and operate with total freedom in Coinbase you must meet two simple requirements:
Having more than 18 years .
Reside in Europe, Australia, Asia (Singapore), North America (Canada and the United States).
The initial registration form to create an account is quite simple . They will only ask you for your name, an email and a password. With these simple data you can create a Coinbase account in a matter of seconds.
It is very important that you check the email inbox with which you registered. A few seconds / minutes you will receive a verification email with a link that you must press to activate your account.
* If you register with Coinbase through someone’s invitation when you buy or sell at least $ 100 or more in bitcoins, you will receive $ 10 in bitcoins for free !
Verification of the Coinbase account
I always recommend checking the account in electronic payment processors. In this way in addition to providing greater security to your account, you can enjoy all available services without any type of limitation.
To complete the verification in Coinbase correctly you must complete four simple steps …
Confirm the email as I mentioned in the previous section. When you complete the registration process you will receive an Email containing a link that you must press to confirm and activate your account.
Add phone . This will activate the verification system in two steps to have greater security in the account.
Verify identity . You must upload a copy of your ID or identity document or you will also have the option to take a photo directly.
Add a form of payment. It can be a bank account or a credit or debit card. This account or card you link will serve you both to buy and to receive and withdraw money.
The check is only necessary if you plan to buy / sell cryptocurrencies and / or withdraw money to your bank account. If at the moment you are only going to receive and send cryptocurrencies you can skip this step without problem.
Basic operation of Coinbase
Just enter into your account you will see a menu like this that I show below:
Dasboard (Main panel): you will find a small summary where your portfolios are displayed , your balance as well as the real-time price quote for Bitcoin, Ethereum and Litecoin.
Buy / Sell (Buy / Sell): as its name suggests, from this section you can buy and sell cryptocurrencieseasily and quickly. Remember that to be able to buy and sell you must have your account verified as I explained in previous sections.
Send / Request: From here you can send and request payments to other people.
Account (Accounts): in this section you will see all the wallets / purses available with their respective balances.
Tools: you can review your addresses in your wallets and create new ones. You can also see a complete history of all transactions made.
Settings: personal data, linked payment methods, etc … In this section you can add or modify all this data .
How to obtain the purse address ?
For page or other users who pay / send through Coinbase , simply with your username or email (from Coinbase, obviously) you can receive and send money without much difficulty.
On the other hand, to receive money from users or page that pay through another type of platformyou must use the address of your wallet .
Accessing the «Account / Accounts» menu , you will see on the right side of each of the “Get the address of …” portfolios .
All this operation that I have explained is applicable to any purse , so much for Ethereum, as for Litecoin or any other currency, it works in the same way.
To help promote and publicize the platform, Coinbase will award free bitcoins to both the referral and the sponsor.
In particular you will both win a total of $ 10 in bitcoins for free when your guests buy or sell a minimum of $ 100 in bitcoins . No matter what a purchase or sale, anyone serves.
If you want an invitation you can use mine by clicking here . Remember that if you do not register through the invitation of another person you will not receive those extra $ 10 .
Coinbase: Commissions and fees per transaction
Sending and receiving bitcoin among friends, businesses or other wallets and purses is completely free . Only the user must pay a small commission for amounts lower than 0.0001 BTC .
For bitcoin bank transfers to your local currency or vice versa, 1% of the total amount will be applied (for European users, + 0.15 € will be applied when withdrawing).
For the purchase and sale of cryptocurrencies using the Coinbase balance, a commission of 1.49%will be applied .
For purchases of cryptocurrencies by credit or debit cards a commission of 3.99% will be applied . The purchase is made immediately.
All these commissions may vary depending on your country and / or currency. For more complete and updated information click here »