In this step by step guide, I'll demonstrate to precisely proper methodologies to purchase digital money through Coinbase.
1) Signup and Verify Your Email Address
The first step is to create an account. Initially you will only be asked for your name, email, password, and state.
Create a digital currency wallet where you can securely store digital currency.
2) Choose Your Coinbase Account Type and verify your email
3) Verify Your Phone Number
You will then need to verify your phone number. This is used as a form of 2-Factor Authentication, helping to secure your account.
4) Set Up Payment Method
Coinbase accepts payment through credit card and bank transfer
When setting up a credit card, you’ll need to upload pictures of your credit card.
When setting up your bank account with Coinbase, they may first initiate two small transactions, then require you to verify the amounts.
Both methods may require you to verify your identity. This is required by almost all cryptocurrency exchanges who handle fiat currencies (USD, EUR, Etc.), to comply with various government regulations.
5) Buy Bitcoin, Ethereum, and/or Litecoin
Lastly, it’s time to make your cryptocurrency purchase.
The price and all Coinbase fees are clearly stated at the time of placing your order.
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