Setting up a Coinbase account
Here is each step that we will walk through to set up everything to start buying crypto currency. I want you to be fully aware of what it entails. This is the simplest way to get started: Setting up a Coinbase account.
Step 1: You need an exchange account to convert your money into cryptocurrency. We use the most trusted cryptocurrency broker called coin base. It is very easy to create an account with very little waiting time to verify you. It is 3 steps to sign up:
Register Process For Every Account Needed
Register for account, take picture of your Photo ID to upload to coin base on your computer and wait for verification to be sent. This could take two to three days to verify.
You link bank account or use credit card. Lastly, you convert cash to cryptocurrency. How the exchange works in step 2.
Step 2: Coin base allows Dollars to exchange into Bitcoin, Etherium or Litecoin. In order to exchange to Altcoins, you need to convert from one of the three above to the altcoin that you want. We will show you a desktop wallet to make exchange to these altcoins.
Next you want to take your Bitcoin, Etherium or Litecoin to send to your wallet from the exchange.
Step by step tutorial for beginners
Let’s get started with the best exchange for beginners for simplicity, security and ease of use. Coinbase is regulated and follows the laws of over 30 countries that it operates with accounts. They comply with the IRS and are the safest option right now to buy cryptocurrency.
Follow the tutorial walkthrough step by step to set up. Read the instructions and follow the screenshot pictures in setting up your Coinbase account.
1.) Click Coinbase registration link
Here is the home page click “Get Started” to get this screen:
2.) Register for Coinbase Account
- Enter your first and last name
- Enter your email address
- Enter password
- Click sign up
Why do you need a cryptocurrency email account?
Register for an email account just for cryptocurrency to be secure. Keep it private. People would need the email address to log into your account. I recommend Proton mail.
It is encrypted from sender until opened in your email account. Proton does not keep a record of your email. It is private.
3.) Verify your Email Address
- Check your email
- Click the confirmation link in your email
- Click the “verify email address” button
4.) Enter your Phone Number
Why does Coinbase need my phone number?
The phone number is to secure your account with 2 factor authentication. When you sign into Coinbase to enter your email a code will be sent to your phone. You need to enter it to go to your account. A hacker would need your phone to get your account.
- Type your phone number
- Click “send code” button
5.) Retrieve SMS code For coinbase
- Grab your phone and look at the SMS code: Your code is______. Thank You!
- Enter the code to Coinbase form below and click “submit”.
- When Coinbase verifies the code, then you wiil be taken to account.
6.) Complete your account
- Scroll to the steps to complete your account. You will see that the first two are completed. The email and phone number steps will be blue, because they are complete.
- Click the “verify your identity” option.
7.) Select verification identity Option
- You can choose from selecting a passport, License or photo ID. I would not use a passport. A driver’s license will work quicker.
- Click driver’s license.
8.) Upload driver’s license picture to coinbase
- Take the picture of your license. You need to take a picture front and the back of your driver’s license. Make sure that the picture is clear and readable before you send it.
Options to upload can be to:
- Send it through your phone if you are signing up on your phone
- Email it to your email address to retrieve it to upload to your computer
- Plug your phone into computer to upload it to computer desktop
- Upload picture to Coinbase and click “upload” button
The verification can take minutes or two days. Get it finished quickly by sending your license. Complete your profile.
9.) Choose bank or card For Coinbase
The payment options are limited from country to country. Canada can only use a credit card. America can use debit card, credit card or bank account. You will see what is available to you based on your country.
- Choose your option and place the account information.
Once you are finished and you confirmed your email, phone number, verified your identity and the payment method is complete, then you can purchase Bitcoin. You may be requested to spend a penny from an account to confirm your account. Now that you finished setting up a Coinbase account. How To use the Coinbase account.
10.) How to use Coinbase to buy Bitcoin, Etherium or Litecoin?
Let’s say that you want to buy Bitcoin.
Step #1: Go to Buy/Sell Menu
Click on the menu tab buy/sell
Step # 2: Select Coin: Bitcoin, Etherium or Litecoin
Click on the bitcoin
Step # 3: Choose your payment method
Type in your payment method like Visa
Step # 4: How much Money to Exchange
Type your amount in currency that you want to buy in bitcoin, it will populate the amount of bitcoin.
Step # 5: Review the amounts
What you will see populate on the page before you click buy:
- Currency amount
- Bitcoin amount
Step # 6: Click buy
If you agree, then click “buy”.
Step # 7: Review again and confirm buy
You will see another confirm. Review it again and then click buy.
Step # 8: You will See Successful
You will see a green check mark indicating that it was successful.
Step # 9: Wait until it shows in your summary
If you buy bitcoin it can take a long time to see it show up in your wallet. It has taken up to 24 hours in cases. Bitcoin has to receive six conformations in the block chain to authenticate the purchase.
This can take time. The other coins should show in your wallet quickly. Your dashboard will show you the summary of your purchase.