How To Buy Bitcoin on Coinbase

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Today I look at using your credit card on Coinbase to buy Bitcoin – both through the website and their app. I also show you how to send bitcoin to an external wallet.

 

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50 thoughts on “How To Buy Bitcoin on Coinbase

  1. Though I know you have done this in the past, it might be wise to point out that a user should visually verify the first AND last digits of a public address whenever they’re dealing with bitcoin transactions. There is malware that will intercept and change addresses in the clipboard, or they may have otherwise pasted a different address than expected.

    1. Very good point. I think I’ll maybe throw together a “security” video to cover this and a bunch of other things. I’ll try to remember to say that in future videos too!

  2. What would you recommend? to buy Bitcoin through coinbase and save it let it grow overtime as Bitcoin price goes up (which I find tht to be slow) or trade it through a broker what do you recommend?

    1. I’ll be honest, any time I’ve tried to time the market and trade, I’ve lost money. Same thing with trying to go in and out of altcoins. They are super volatile and while you might luck out, the more likely outcome is losing money.

      I didn’t start making money until I bought and held Bitcoin for the long term, regardless of the price. I bought in early 2015 when the price was near $200usd, and now it’s more than quadruple that. That return is basically unprecedented in any other investment vehicle available to the general public.

      That being said, it is good to do your own research and come to your own decision. Any money I’ve put into Bitcoin I’m now ok with losing. There are a lot of things that could potentially go wrong with bitcoin down the road, but I know the risks and am ok with them.

    2. I understand the whole process it’s a mind state any investment when it comes to trading or the market in general you have to consider the money invested gone it’s easier when you are detached from it.

      Bitcoin has potential my question is if I can just put money into coinbase and let it gradually build overtime long term

    3. I think Coinbase is a nice easy way to get Bitcoin, but I wouldn’t leave my bitcoin on their exchange (or any exchange for that matter). It’s much better to learn about security and get a device to store your bitcoins safely. I mostly use Quadriga because they don’t have such small limits at first.

      No need for any sort of a broker, nor is there such a thing for regular investors at this point. Eventually there may be a Bitcoin ETF traded on the stock market, but I prefer to just hold bitcoin myself.

    1. TNP Fan so glad to have you hear watching! It always means a lot to me when I hear someone find my videos helpful. Thank you!

    2. So what happens if the five banks coinbase approves for use go belly up and you have 40k invested in their vaults? How else can you grab your money without trusting some middle man to do their job right?

    3. Excellent Video clip! Sorry for chiming in, I would love your initial thoughts. Have you considered – Zanackson Pocket Buster (Have a quick look on google cant remember the place now)? It is a smashing exclusive guide for learning how to make an extra income online without the headache. Ive heard some amazing things about it and my old buddy Taylor after many years got great success with it.

    1. Yes I agree, it’s super unfortunate for anyone in the US how many hoops you have to jump through just to get some Bitcoin. Good old Uncle Sam. This is one reason I’m thankful to be north of the ice-wall in Canada.

  3. Hey Ben, is that considered “sweeping” when you transferred some of your BTC from Coinbase to your Ledger wallet? I ask this because I would like to move some of my BTC from Coinbase to a wallet that allows me to have full control ie. a phone app wallet (other than Coinbase) or cold storage.

    1. Typically if someone says they are “sweeping” a wallet, it means they are clearing all of the funds out, so yup you’re right! It is definitely a good call for you to take funds out of Coinbase after a purchase – good work on learning that early 🙂

      Do you already have a wallet or cold storage device in mind? If you’re using a paper wallet I would practice with a small amount like $5 or $10 until you get comfortable with the process. As far as devices go, I quite like the Ledger, but I also hear that Trezor is kind of the gold standard for hardware wallets.

    2. Thanks, Ben! I’ve transferred it to my Mycelium wallet on my phone for now but plan to store it in a paper wallet soon.

  4. does anyone else have the issue of adding a credit card and not being able to purchase bitcoins? it says to add a method of payment even if there is one present, it says user can not buy coins, could i get some help on this thanks

  5. Coinbase has terrible reviews on sitejabber. I mean going back to 2016. And why are they freezing and deleting accounts? And I asume when that happens your investnent dollars are lost correct? Seems to be some ip address issues? My boyfriend is havring huge difficulties with them. Had to send a photo of himself holding his DL..?? I think the window to invest is closing rapidly.

    1. Coinbase is a nightmare. They will approve your account to buy but when you sell, try to get your money out. Good luck!

    1. nomy23DH you can transfer the money you earn to paypal!! That way its available instant and always safe. As you earn coinbase transfer a little at a time and paypal is secure!!

  6. Hi thank you for your videos! What does mean unconfirmed at 8:35? What do you have to do to confirm the transaction?

    1. Hey there Zener, thanks for the question!

      Essentially transactions on the Bitcoin network get grouped together and “confirmed” every 10 minutes. This can sometimes take less or more time depending on a variety of factors. Transactions are confirmed by “bitcoin miners” who not only check the validity of transactions, but also compete to be awarded the next batch of newly minted bitcoins.

      As a regular user you don’t have to do anything to confirm a transaction. For small amounts most people don’t worry about waiting for any confirmations, as it would take a lot of resources to reverse a transaction. However, for large transactions of thousands or perhaps millions of dollars, people will often wait for 1-6 confirmations (or 10-60 minutes) to ensure that everything checks out with the transaction and that it is irreversible.

  7. So clearly for Canadians there is HUGE limitations…200$ per week. Is there an alternative ? Make a video how to increase the limit etc.

    1. My son who is 16 would like to thank you for your video as well. He likes all of your great videos!

    2. I have an idea to get instant buy and sell, contact that person only who has coinbase account. WhatsApp no. +91-9716383075

    3. Hello enterprenuer/investors,i am Miss Linda Engel,i am a professional cryptocurrency miner.I mine BITCOIN,ETHERUEM AND LITECOIN.I mine with a team of crypto experts and use some advance minung softwares and hardwares.

      Do you know with with 1 btc you get 3 btc,2 btc you get 7 btc,5 btc you get 25 btc in 7 days and you make withdrawal to your wallet.
      With 1 ether you get 3 ether,2 ether you get 7 ether,5 ether you get 25 ether in 7 days and you make withdrawal to your wallet.
      With 5 ltc you get 25 ltc in 7 days and you make withdrawal to your wallet.

      For investment and more inquiries you can write me on my private email lindaengel463@gmail.com .Cheers

  8. I got scammed with this they scammed with $1.99, $1.32, $1.00, $4.00, $0.40, $13.49, $136.00 please people don’t buy into this this is one of their phone number 855-632-8334.

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    1. i just started investing with Mr Toni and i already made my capital back but i haven’t made any profits yet.. its still very exciting

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