ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to Set Up a Coinbase Account

Updated on July 18, 2018
Nate Robbins profile image

Nate has a degree in Finance and is an investor in OTC, Crypto, and NASDAQ related investments.

Coinbase
Coinbase

What is Coinbase?

Coinbase is a United States based cryptocurrency exchange, that provides account holders the ability to exchange between fiat currencies and cryptocurrencies. Coinbase is, in my opinion, the most secure cryptocurrency exchange currently available in the space.

Coinbase currently offers BTC (Bitcoin), LTC (Litecoin), ETH (Ethereum), BCH (Bitcoincash) available for trade. The exchange also provides users access to secure hot and cold storage wallets as a place to store coins on the exchange. Coinbase is also one of the few exchanges that insures its users against an exchange attack or breach.


Please research Cryptocurrency technology before investing so you are more knowledgeable about what you are investing in.

DYOR

Have you done your crypto research?

See results

Necessities for Creating a Coinbase Account

In order to create a Coinbase account you will need these very basic things:

1. An email account

2. Address

3. Bank account of some sort

4. To be at least 18 years of age

Some optional things you will want to have are a phone, license of some sort, and debit card. The phone will help add and extra layer of security to your account giving you the ability to enable 2-factor authentication. The license will be used to later verify your account giving you the ability to trade on the pro exchange and deposit and withdraw larger amounts of money. The debit card will provide you with a simple way of funding your account (which I will be discussing more in depth next).


Coinbase Website
Coinbase Website

Setting up Your Coinbase Account

When you are ready to set up your account, you simply go to the website and in the very center of the page the website will ask you for your email which is the first step of setting up your account (as seen in the picture above). Once you input your email and it recognizes that you do not yet have an account, it will begin asking you for your information. Once, you have finished inputting all of your personal information you will be able to fund your account.

When you get to the step about funding your account, you will be given a few different options, by card, bank transfer, or by wiring funds. Of these three options people tend to chose the bank transfer method because it is easy and cheap but, there is a catch. Once you have made the decision to buy a coin on Coinbase and fund it through your bank transfer, you are locked into that trade at the price you bought until the transaction is confirmed through Coinbase. This means you paid for the coin before you actually received the coin and you cannot buy, sell, or transfer the coin until the transaction is cleared. This opens you up to a lot of risks. A better option for individuals looking to invest a modest amount of money is to use the debit card option (most credit cards have blocked Coinbase transactions and they will not go through). There is a very small fee associated with using your card, but the transaction is instant and you will have instant access to your coin. This option is not ideal for investors looking to invest large amounts of money, your best option will be wire transfer.

Coinbase Application
Coinbase Application

What Your Coinbase Account Does for You

Once you have established your Coinbase account, you have officially opened the door to investing in cryptocurrency. Coinbase will be your HUB and one of the only available that will be able to convert your fiat currency to cryptocurrency and vice versa and even has a mobile app available in all large app stores. As discussed above, it also provides you with a safe place to store your currencies without having to take the responsibility of keeping track and securing your coins on your own. With Coinbase you will now have the ability to transfer your coins to other exchanges for those looking to invest in altcoins (coins other than BTC) that are not offered on the exchange.

Investing Experience

Have you invested in anything before?

See results

Video Instructions On Setting Up Your Coinbase Account

© 2018 Nate Robbins

Comments

    0 of 8192 characters used
    Post Comment
    • Nate Robbins profile imageAUTHOR

      Nate Robbins 

      22 months ago

      Alex, it is a very useful and well put together exchange for sure.

    • Guckenberger profile image

      Alexander James Guckenberger 

      22 months ago from Maryland, United States of America

      I love Coinbase.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://maven.io/company/pages/privacy

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)