This post is about beginners guide for how to Buy Bitcoin Using Coinbase.
Maybe till 2022, BitCoin is adapted as a Global currency all over the world. Probably if you readed my post of “how to trade BitCoin with Amazon?” Then you will get to know, many online stores like Amazon now accepting BitCoins.
If you notice the Increase in the price of BitCoin from 2010 till the day, you will find investing in BitCoins is a really good deal.
But the problem with BitCoin is that the people are thinking is, it’s not safe to invest in BitCoins. If you notice the current price of BitCoin is $2581.63. According to business insider and traders price of BitCoins in 2020 goes to $5000. So it’s good to invest in BitCoins.
There are many sites which offer you to buy BitCoins like Coinmama, virwox, zebpay etc, but from this post, I will share how to Buy Bitcoin Using Coinbase.
How to Buy your first BitCoin Using Coinbase: Beginners Guide
If you are a beginner and interested to invest in BitCoins then you should know purchasing BitCoins is very tough. But Coinbase makes entire process easy.
Coinbase is biggest digital currency exchange company in the world. It was established in 2012. Until the day, the net worth of exchanging digital currency from Coinbase in around 4.5 billion USD and it is still growing.
But like any other company, Coinbase is not available for the indian citizen. Coinbase support 33 countries. If you live in this countries then you can purchase BitCoin easily.
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland. United state, United Kingdom, Canada, Singapore.
One of the best features of Coinbase is you can also buy litCoin and Etherum.
In Next post, I will share more features of Coinbase but For this post, we will only talk about how to Buy Bitcoin Using Coinbase.
Important: Coinbase offers you $10 of free BitCoin on first purchase of $100 BitCoins.
Steps to Buy BitCoins using Coinbase
Click on this link and create a free account on Coinbase.
Now you have to verify your email id. Open your email id and click on the link to complete the verification. Once you click on the link, it will automatically redirect you to Coinbase.
Now login to Coinbase and fill your profile details. It will help you for future prospect.
Before buying any Bitcoin you have to enable your 2 step authentication. This will help you to increase your security. In this step, you have to verify your bank details and phone number. Click on ‘bank details’.
now fill your bank details.
click on ‘verfiy phone number’. Fill your phone details and verify with OTP you will receive.
now click to ‘Buy/Sell’ on the dashboard.
you need to verify your identity by either uploading scan copy or showing front page of id to your webcam. It will automatically verify all the details online. This service is offered by Netverify by Jumio.
Now go to buy page, you will see widget something like this.
Enter the amount you want to buy. Click on ‘Buy Bitcoin Instantly’.
Your BitCoin will be automatically delivered to your wallet. You can transfer this BitCoin in any other wallet like hardware, mobile wallet.
If you live in the United States, Europe, UK, Singapore, you should be able to purchase BitCoin instantly using a Credit card.
Alternative of Coinbase
• Local BitCoin
Coinbase is largest digital exchange currency site in the world. Using Coinbase to buy BitCoins is a very secure method.
If you live in U.S, U.K, Singapore then Coinbase is best for you but if live in any developing countries like Pakistan, India, Bangladesh then you can not buy BitCoins from Coinbase which is a major drawback.
• How to buy BitCoins using debit/credit card instantly?
• 7 ways to get free BitCoins
• Best Android wallet for BitCoins in 2017
Let me know if you find any difficulties in purchasing your first BitCoin.
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