Coinbase is a cryptocurrency exchange that allows you to buy manage and sell cryptocurrency. You also use Coinbase to make money.
This article will show you:
- Set up your account.
- Navigate the app.
- Invest.
- Withdraw the money.
This article is about how to use the Coinbase platform not how to invest. What you decide to do with your money is up to you.
How To Use Coinbase
How To Set Up Your Coinbase Account
- Download and Open the Coinbase app on your phone.
- Click “Get started”.
- Fill in your details (First name, Last name, Email, and Password) and follow the prompts to set up your account.
- Verify your email address and phone number.
- Continue to complete your details (Your details are a legal requirement so be sure to use the correct information).
- You’ll receive an email once verified, it should take just a few minutes to continue. Follow the prompts until you reach the Coinbase homepage.
- Click “Add Payment Method”. You can link a PayPal account, a bank account, or a credit or debit card.
- Fill in your details and click Add now.
You’re ready to start using Coinbase.
How To Navigate Coinbase
You’ll find a watchlist of cryptocurrency prices and some of the biggest moving cryptos on the home page at the homepage. At the bottom, you can scroll through relevant news articles.
- Tap the “Horizontal Lines” to find your profile settings and actions below.
- Tap the “Bell Icon” to pull up your notifications
- Tap the “Portfolio icon” to check your balances.
- The “Arrows icon” pulls up a quick menu with actions to buy, sell, convert, send and receive crypto.
- Tap “Trade” to find all tradable cryptocurrencies on Coinbase. Tap on “All Asset” to track all your assets and see how they’re performing.
- Tap on “For You” to get more from Coinbase and find relevant news articles and advice pages.
How To Invest in Crypto
How To invest in crypto using the Coinbase app:
Click on “Trade” under the tradable tab, you’ll find all the cryptocurrencies you can invest in through Coinbase.
Scroll and press on them to see how they’re performing at their price or search for one.
Here is an example of buying bitcoin:
- To buy bitcoin, find or search for it.
- Click on Trade.
- Click Buy BTC (to pay with cash)
- Tap on the amount you want to spend or the three dots to specify how much.
- An order preview will appear, and you can see the Coinbase fees shown.
- Tap Buy Now to process.
- Tap on the Portfolio to view the value of your cryptocurrency.
How To Sell crypto using the Coinbase app:
- Tap on the Arrows icon.
- Tap Sell. Your cryptocurrencies will be listed here.
- Tap on the one you want to sell and then max to sell it all.
- Next, you’ll see how much will be sent to your account after the Coinbase fees.
- Tap Sell now to complete.
How To convert cryptocurrency using the Coinbase app:
- Tap on the Arrows icon.
- Tap convert.
- Tap from to select the crypto you’re converting, tap to select the crypto you want it converted to.
- Type the amount you want to convert.
- Tap Preview convert, you can see the Coinbase fees shown.
- Tap Convert to complete.
How To withdraw on Coinbase
To withdraw the money, you need to have your bank account linked.
- To the top, tap on the three lines icon.
- Tap on profile settings.
- Tap Add a payment method.
- Select US bank account, add your bank details and then verify your account.
- You’ll see bank details appear; you’ll need to send a small amount of money to this account using the reference given to verify your account.
- The verification process will take one to two business days once your account is verified, you’ll receive an email to say that Coinbase has received your deposit.
- Tap on View Deposit and you’ll see the amount you sent added to your portfolio.
- To withdraw, tap on your us dollar account.
- Tap cash out.
- Tap the amount you want to withdraw.
- Select your bank account and then continue.
The fee you’ll be charged will be shown here.