Here we go. This is the the guide to purchasing your very first crypto currency. Trust me, it is super simple. I will update this as time goes along.
Primer Video:
Let’s begin:
First thing you need to do is log onto www.coinbase.com . This is what you should see:
From the homepage you want to click “Get Started” in the white box , top right corner. This will lead you to a screen which will ask for Name, Email, and to create a password. You will need to remember this password.
Next, whichever email address you listed will receive a verification email. It will look like this .
Click verify email address. The next screen will ask for a phone number. It will look like this.
The phone number you used in step 4 will receiver a numerical code. It will ask you for this code. Input the code to head to the next step
This next step is more of the same. It will ask for more detailed information. SSN, address, name, DOB, etc. All things to verify your identity. You should know that Coinbase is FDIC insured. The same insurance that your local bank or credit union has. Coinbase is as legitimate as your local bank. It is located in San Francisco. The CEO’s name is Brian Armstrong. It is 100% legal and has been operating since 2012. I am telling you these things so you can feel secure about handing over your information. I suggest you do your own research on Coinbase if you feel apprehensive.
After step 6 you will have to input a payment method. The cheapest way to do this is to link your bank account directly. This involves the least amount of fees. However, if you choose, you can also use a debit card or wire money into the account directly.
After adding a payment method you are 90% of the way there to purchasing your very own cryptocurrency. Simply, hit “Trade” in the top corner and you will get a pop up which looks like this:
You can click on “bitcoin” to see a list of other assets available for purchase. You can also click the box below it to see the payment methods available to you. This list will vary depending on the method you chose.
One last thing you should be aware of. If you want lower fees and a more “professional” experience you can use your same log in credentials and log into https://pro.coinbase.com/ . This is ran by the same company as coinbase except it offers a more technical approach. They have limit orders and charts for technical analysis as well as order books for the people looking for a more nuanced experience. For now, if your a beginner I would recommend just sticking with the standard coinbase.
Ending Video:
Congratulations. Just like that you have some cryptocurrency . It may not seem like much but you just took a step into the next paradigm. The future. The 4th industrial revolution. But! We are just getting started. If you want the real benefits from cryptocurrency you’ll need to move on to part number 2 of this guide. We will leave coinbase and be our own cryptocurrency custodian. You will step into a world where there are no middlemen or intermediaries. A world where a bank has no power of who or where you send your money. This is where crypto gets exciting and I hope to be able to show you the benefits of blockchain. Come with me to part 2 of our beginners guide by clicking the button below.