Coinbase has secured its position as one of the most popular trading platforms for cryptocurrencies in recent times. Every newbie or professional seems to be talking about it. It is also trending on social media platforms. You can even find facebook influencers and Youtubers talking about it extensively. Many of them are active on Insta and well. You can check out their reels to learn from some great Instagram story ideas.
Nevertheless, it’s always good to know a little more about crypto and check out the best way to buy defi coins.
Coinbase is said to be the most secure, fast, and efficient platform for buying and selling cryptocurrencies. It was among the first crypto trading platforms to go public in the USA. Since then, it has made efforts to maintain its firm grip on the crypto world.
Let’s learn more about how it works and how we can use it to our benefit:
Uses of Coinbase
Coinbase provides innumerable features that one can take advantage of. Here is a quick look:
- Coinbase can be used to sell and buy cryptocurrencies across the globe.
- You can buy Bitcoin, Litecoin, Ethereum, and 50 other cryptocurrencies via Coinbase.
- It can also be used to convert one form of cryptocurrency to another according to your needs.
- Coinbase also facilitates the transfer of cryptocurrency from one person to another, no matter where they reside.
- It also keeps you updated with the latest trends in crypto.
All in all, it serves a variety of uses for people who are beginning to venture into the realms of cryptocurrency.
You can also enlighten yourself by watching videos on YouTube about this platform. The best videos about Coinbase often have custom graphics, with a random shape generator used to create visuals that help you learn better. Keep your eyes open for these!
Creating your account on Coinbase
You need to follow a few simple steps to open your account on Coinbase to be able to trade crypto easily.
Firstly, you need to enter your details such as name, email, password, and country you reside in. Furthermore, the platform may prompt you with more information depending on the country or state you belong to.
Next, you need to enter your financial information for trading. You can either do it via bank transfer, credit or debit cards, or even PayPal. The transaction fees for all the methods are different and should be kept in mind before taking the next step.
Once you set up one of these methods, you can easily choose a coin, set up your wallet, and begin buying and selling on Coinbase.
Fees charged by Coinbase
As mentioned above, Coinbase charges a payment fee for the mode of payment that you’ve chosen to buy or sell cryptocurrencies. It may be slightly expensive. The fees may vary for different regions and countries. For now, we’ll have a look at the standard fees for citizens in the USA.
They are as follows:
- Debit or Credit Card: 3.99%
- Crypto Conversion: 2%
- Bank Transfer: 1.49%
- Coinbase Wallet: 1.49%
- ACH Transfer: Free
- Wire Transfer: $10
Please note that the fees will vary from country to country. Do check the current rates before you proceed any further in crypto trading.
Coinbase is the perfect trading platform for investors who are starting on their journey of cryptocurrency trading. There’s a lot of room for learning for newbies and if they can pay attention closely, they can learn quickly and most effectively. From sending or receiving digital currencies to converting other cryptocurrencies, Coinbase covers it all.