How To Use The Coinbase Exchange

April 2, 2019

FrederikNielsen
42

What Is Coinbase?

Among the many renowned cryptocurrency exchanges across the globe, Coinbase is one of them.  It was the highest funded bitcoin startup, launched in San Francisco In the year two thousand and twelve.  A year after the launch, it became the greatest crypocurency exchange throughout the world.  As per now, in thirty-two various countries across the globe, Coinbase attends to more than ten million traders.  This is the most secure online platform where you can buy, sell, transfer and even store your digital currency.

How to trade on Coinbase

 First, you have to create a Coinbase account. It is not as hard as you may think; as you only have to visit their website, fill in your personal information such as your name, email and the password you will be using for the same.  After that, you have to check your email, to find out the confirmation email, which then you shall confirm.

 The next step will be to tell Coinbase the type of account you want to create. Most likely, you will select between individual and business account.  Then set up the payment method f that I will be favorable for you, for instance, you can enable the two-factor authentication. 

 You will enable the 2-factor authentication by ensuring that you supply your phone contact, which will be followed by setting up a payment method.  Your payment method is up, and now it is time to get started with purchasing the cryptocurrency tokens. It is recommended to start by buying some Coinbase bundle.

What is a Coinbase Bundle?

Coinbase exchange is now offering five available cryptocurrencies namely litecoin, ethereum classic, bitcoin cash, and bitcoin.   This bundle of coins will give you an opportunity to split your investments into percentages as follows:  2.33% of litecoin, 15.58 of ethereum, 0.78% of etherum classic, 75.2% of bitcoin and 6.11% bitcoin cash.

Coinbase Fees and Transactions

The Coinbase fees will range from 1.49 to 3.99% based on the method of payment you will be using. It is worth noting that credit cards are quite faster, but they can incur higher charges as compared to bank transfers.

Depending on your location, you will have different transaction limits applying to your account, and you can check them on your screen.    Verified residents from Europe, can contract up to $30,000 weekly, while the U.S ones transact up to $50,000 weekly.

Coinbase Custody

Coinbase has a pioneering custody program, which is enjoyed by organizations which trade with them.  It only takes holding at least $ 10,000,000, and then set up which needs $ 100,000 and you can enjoy it too.

Coinbase Shift Card and UK Bank Purchases

The UK bank and shift card are two essential parts of Coinbase. They are necessary as you can use them, especially the visa debit, in doing some transactions in various stores that allow the use of visas.  If you are U.S resident, you can link your bank account to Cubase, and use it to purchase cryptocurrency tokens promptly.

Coinbase Pro

The pro-section used to be GDAX, and it is meant for the expert traders.  It automatically comes together with your Coinbase account and will help you at an advanced level.

Paradex Acquisition

Coinbase bought a cryptocurrency exchange known as Paradox and it is focused on the ERC20 tokens, which are the utility tokens in various ICOs.  Once they are fully merged with Paradex, Coinbase will integrate the option of purchasing ERC20 souvenirs recently acquired another cryptocurrency exchange called Paradex, which focuses on ERC20 tokens. You will perhaps recognise the ERC20 tokens as the utility tokens found in many ICOs. Coinbase plans to integrate the option of buying ERC20 tokens once they are fully merged with Paradex.

If you have investing needs, Coinbase is one of the best platforms to invest. If you are doing a lot of trading, this is also the way to go. Open your account today, and see the significant impact of Coinbase.

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Frederik Nielsen
Frederik Nielsen

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

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