There are hundreds of ways to buy and sell cryptocurrency online, but if you’re just getting started, it’s really important to choose a site that you can trust, and one that’s not too complicated. For most people, that’s Coinbase.
Coinbase offers a complete online platform for buying, selling, transferring, and storing digital currency wrapped in an easy-to-use package that works seamlessly across your devices and desktop.
Plus, if you’ve ever bought or sold stocks online, the whole thing will feel quite familiar.
Let’s get right into it with our easy-as-pie guide to joining CoinBase. And if you’re not quite ready to join, scroll down a bit to learn more about Coinbase so you can decide if it’s right for you.
How to Join Coinbase
Joining Coinbase is a little more involved than signing up for a mailing list, but a lot less involved than applying for college.
The Coinbase “Individual” signup screen as of Dec 26, 2017. // Image via Coinbase.com
Let’s walk through the steps:
- Click this link to open the Coinbase signup form
- Select whether you’ll be opening an Individual or Business account
- Fill in the required fields including first and last name, email address, password, state, and CAPTCHA
- Click the “Create Account” button to complete the form
- Check your inbox for a verification email and click the link when it arrives
Top Three Reasons to Join Coinbase
If you’re looking for a few good reasons to consider joining Coinbase, look no further… here are three of them:
1. Easy to Read Charts
Analzing cryptocurrency prices can be very overwhelming, but Coinbase helps keep it pretty simple with their easy-to-read charts.
Example of the Coinbase 1 month Bitcoin Price Chart as of Dec 26, 2017. // Image via Coinbase.com
This screenshot from the Coinbase site shows real-time cryptocurrency prices and doesn’t look too different from your ordinary online stock chart. You can choose a time period or a different currency, and not much more.
2. Easy to Fund, Buy & Sell, and Transfer
Although it may seem daunting, it’s really easy to buy and sell on Coinbase. In fact, it’s pretty similar to online banking.
- Funding Your Coinbase Account: With Coinbase you can fund your account with an EFT and bank wire (1.99% fee) or a Credit Card (3.99% fee). You can also fund your account with crypto, but if you were looking to do that you probably wouldn’t be reading this.
- Buying & Selling on Coinbase: Once you’ve funded your account, you’re ready to buy. It’s simple enough to do, but important enough to take your time with. To help you get started, we’ve created a complete article that details how to buy crypto on Coinbase.
- Transferring To/From Coinbase: Transferring crypto to and from Coinbase is a LOT like using PayPal. Only, instead of sending money to an email address, you’re sending cryptocurrency to and from a digital wallet. As with buying and selling, we’ve also got articles that detail how to transfer to Coinbase and how to transfer from Coinbase.
3. Industry-leading Security
From data encryption to currency storage policies and beyond, Coinbase offers some of the most well-regarded security mechanisms of any existing cryptocurrency platform. Here are some highlights:
- Comprehensive Data Encryption: On their website, Coinbase assures customers that “sensitive data…is disconnected entirely from the internet.” Data is then encrypted, and transferred to USB drives and paper backups, and distributed in safe deposit boxes vaults all over the world.
- Offline Currency Storage: To ensure the security of your cryptocurrency assets purchased and stored within Coinbase, the platform stores 98% of customers funds offline. The other 2% of customer funds, held online, are covered in the event of a breach of Coinbase’s online storage. Also, Coinbase holds all customer fiat currency in custodial bank accounts, on behalf of customers.
- FDIC Coverage Available: If you have fiat currency in Coinbase, in a USD wallet, it is covered by FDIC insurance up to $250,000 (just like a “regular” bank). This protects customer assets (so long as they have been converted to fiat currency) even in the event of Coinbase becoming insolvent.
- Learn about the term “Fiat Currency” and more in our cryptocurrency glossary.
If you’re just getting started buying cryptocurrency, Coinbase is a really great option. It’s incredibly easy to join, plus there are ample reasons you should join, from easy to read charts to industry-leading security.
Ready to get started? Join Coinbase now and you’ll be buying crypto before you know it.
P.S. Once you’re signed up, you’re ready to buy your first coin on Coinbase.