How To Buy BTC On Coinbase
How to sign up for Coinbase
1. Go to https://www.coinbase.com/. Don’t forget to check the correctness of the website’s name and whether the connection is secure. In a browser, look for the ‘lock’ icon to the left of the address field.
2. Find the ‘Get started’ button and click on it.
3. Fill in your name and create a strong password. You may want to use a password manager like 1Password. Avoid putting your personal data in the password and using a browser-suggested one.
4. You will get a confirmation email. Verify the sender’s address — the email domain name should be the same as the website’s address. Confirm your email.
5. As soon as you confirm your email address, you will be asked to enter your phone number and verify it with an SMS password. After this step, you will get to the verification section. Fill in your personal data.
6. The next step is to upload your ID.
7. Once you get verified, set up your debit card or bank account. Note that a bank account can be used to make large purchases of up to $25,000, while a debit card is recommended for smaller investments.
How to secure your Coinbase account
1. Once you are registered and verified, it is a good idea to secure your account. You will need this to keep your funds safe in case of a hack. On the top right of the dashboard, you will find an account icon. Click on it and select the ‘Settings’ option.
2. Navigate to the security section.
3. Here you will have various options for 2-step verification. The most optimal choice is Authenticator. Scroll the page down and you will see ‘Authenticator’ in the ‘Other options’ field.
4. You will be asked for an SMS verification password again. Then you will be presented with a QR-code, which you need to scan with a Google Authenticator app. The app is available for both iOS and Android. You can also go with an app from Duo or Microsoft. Once you have the app on your device, tap on the ‘+’ icon and scan the QR-code on Coinbase with your device’s camera.
5. The code will be created automatically and it will be regularly changed. Fill in the most recent one into the respective field on Coinbase. Once it’s done, your 2-step verification will be switched from SMS to the ‘Authenticator’.
How to buy BTC on Coinbase
1. Head back to the dashboard and choose BTC out of the list of tradable assets by pressing ‘Trade’.
2. Specify the amount in USD and press ‘Preview purchase’, which will take you to a summary page where you can press ‘Buy now’.
How to store your BTC
1. To store BTC, you can either use Coinbase’s wallet or vault. However, it is more secure to withdraw it to a Trezor or Ledger hardware wallet. To move your BTC to an external wallet, scroll the dashboard until you see ‘Your Portfolio’ section, click on ‘Bitcoin’ option there.
2. Press ‘Send’ and fill in a destination wallet address and an amount. Double-check these details as BTC transfers cannot be rolled back. Press ‘Continue’ and confirm the transaction details to complete the transfer.