Coinbase is one of the biggest and most popular platforms where you can buy and sell your cryptocurrency. It is important to notice that it’s not exactly cryptocurrency market, because the number of cryptocurrencies here is very limited. However, it does include the major ones. The biggest advantage of Coinbase is definitely the fact, they enable you to buy cryptocurrencies quickly and conveniently (for example, Bitcoin, Ethereum, Litecoin, XRP and others) using Credit Card or bank transfer. It is also fast and easy to sell them and to send profits to your bank account.
Exchange rates and service charges are not very high on Coinbase, so this platform is being chosen by users all around the world (it is available in 55 countries) as a place where they buy and sell cryptocurrencies, withdrawing them to their bank accounts after.
In addition, it is worth to know the following:
Coinbase requires full KYC (Know Your Customer) verification to prevent money laundering. Because of that, if you decide to buy or sell your cryptocurrency through this platform, you’ll need to complete this verification. You are going to need your passport, photograph and proof of address.
Not everyone is happy with it, but these days this is the normal practice if you want to operate legally and comply with the law. And that’s what we want 🙂
You can also earn here by recommending Coinbase to your friends.
Occasionally, Coinbase runs free cryptocurrency collecting events. This is very interesting opportunity. For completing few quizzes about particular cryptocurrencies, what takes maximum few minutes, you can receive some of them for free and celebrate first profits. It is occasional event that repeats every now and then and its aim is to educate the users in regards to what cryptocurrencies are, what is involved and what particular projects represent.
You may check how to get free cryptocurrencies from Coinbase out here: click link.
I’ve been personally using Coinbase for a long time: their support centre answers queries fairly quickly and cryptocurrency withdrawals to my bank account come usually within 2 days, so I can’t complain.
Safety: Although Coinbase is fully legal, regulated company which puts a lot of attention to safety of its users, remember to always set safe, complicated passwords and two-factor authenticators. Never share these details with anyone! I am sure that there are many people online who are ready to steal from your account so stay on the safe side. 🙂
How to create an account on Coinbase?
Step by step
Visit the Coinbase website and click “Get Started”.
After continuing, access your email and follow the verification link
Select account type (Individual or Business), and next your country and add your phone number.
A 7-digit code will be sent to your phone, and you will be directed to enter this code.
After entering the code, you may or may not be directed to verify your ID. If you are not, then your account set up is finished for now. If you are directed to verify your ID, that is the next step covered.
Even if you’re not prompted to verify your ID now, you will want to do so anyway, because sooner or later you must verify your ID to purchase or continue purchasing cryptocurrency.
Select payment method.
Connect your bank account, debit card, or credit card to purchase and sell digital currency with local currency.
Coinbase Limits & Liquidity
Coinbase offers very high limits. Limits depend on your account level, which is determined by how much information you have verified. European customers may have a maximum of €30,000 euro in their account at any time. Fully verified U.S. customers may buy up to $50,000 worth of bitcoin daily.
Is it Safe to Link your Bank Account to Coinbase?
Coinbase is a regulated company and holds licenses in all districts in which it operates. It is backed by major US investors, so it is not a scam.
It’s safe to link your bank account but that does not mean you should ever store bitcoins with Coinbase!
If you have any additional questions, visit orignal support website: https://support.coinbase.com/customer/en/portal/articles/1767231-payment-methods-for-european-customers
There you can find all answers.