The safest and most secure way to buy Bitcoin and other cryptocurrencies is by using the Coinbase platform. Coinbase is available in most countries and provides the best user experience when compared to other platforms.
The platform has a downloadable mobile app that allows you to trade at your convenience. Though Coinbase isn’t the only platform you can use to buy cryptocurrencies, it’s no doubt unrivalled due to its advanced features.
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Steps to Buy Bitcoin and Crypto on Coinbase
- Visit the Coinbase official website via https://www.coinbase.com/ and sign-up by entering your email.
- Provide your names in the next page, choose a strong password and finally tick the box that indicates you’re over 18 years old to create your account.
- Go to your email and verify the account. You will then be redirected to the Coinbase platform.
- Enter your phone number and get a code on your phone.
- Enter the code sent to your phone and click submit.
- You will be taken to a page where you can choose to install the Coinbase app, learn how to invest in cryptos, and view your portfolio.
- Click on your desired cryptocurrency- in this case, we’ll be using Bitcoin.
- To start trading Bitcoin or any other cryptocurrency, click the receive button.
- On the next page, click on “Turn on instant transfer” to deposit funds in your wallet.
- Once the receipt is acknowledged, you can start trading.
- Click buy/sell and enter the amount you want to trade.
Voila! You’re now ready to earn a return from your investment.
Now that you’re familiar with the platform, it’s worth noting that Coinbase can be used in other ways. You can buy other popular cryptocurrencies like Ethereum. Coinbase also acts as a wallet for your Bitcoin.
If you were invited on Coinbase by a friend, request to sign-up via their affiliate link to get free $10 worth of Bitcoin once you spend $100. With that said, let’s learn a few tricks you can use to avoid fees!
How to Avoid Fees On Coinbase
Use the following steps to avoid being charged when trading on Coinbase.
- To get Coinbase on the go, download the Coinbase app. The desktop version looks different from the app and it’s highly recommended to sign-up on the desktop.
- After verification, add payment options and start trading to increase your limit. Disclaimer: Risk what you can afford to lose.
- Being a broker, Coinbase charges fees for each trade you make. After loading your wallet and funds have cleared, go to Coinbase Pro and trade using limit orders- this allows you to avoid fees!
Advantages of Coinbase Pro
For professional cryptocurrency trading, Coinbase Pro should be your platform of choice. Coinbase Pro has the following amazing features designed to make your trading safe and secure.
Saving on fees
Though trading on Coinbase is fast and easy, the fee charged is likewise higher- specifically when purchasing using debit and credit cards. However, you can avoid payment of fees by trading on Coinbase Pro.
Payment Methods
Investors from the USA can fund their wallets directly from their banks using ACH transfers. Funds can be transferred to Coinbase Pro from your Coinbase wallet free of charge. Most importantly, deposits to your Coinbase Pro are unlimited.
Countries Supported
Currently, Coinbase Pro supports over 40 countries. If your country is not included in the list, keep checking their website to get an up-to-date list.
Insurance
Investor’s funds are FDIC insured. In the event of a loss, customers are compensated up to a tune of $250,000.
API Support Enabled
Coinbase Pro secures its customer’s investments by use of programmatic robots. With APIs, investors have access to real-time trading data.
Security and Confidentiality
Regular IT audits are done and a substantial percentage of the investor’s fund is kept offline for confidentiality purposes.
Cryptocurrencies and Fiat Pairs
Coinbase Pro provides their customers with a wide variety of trading pairs, USDC Stablecoin being a popular cryptocurrency pair among traders.
Leverage and Margin Trading
Coinbase Pro offers a higher margin trading leverage,3× more, in some pairs.
More Ways of Buying Bitcoin and Other Cryptocurrencies
Though Coinbase and Coinbase Pro rank high on the list of the best platforms, investors can purchase cryptocurrencies using the following platforms.
Anycoindirect
This online exchange platform does not provide a reliable online wallet. Customers transfer funds to the provider directly from the bank account. After receipt, Bitcoin, worth the amount remitted is transferred to the address provided during sign up.
Kraken
It is available in the USA and Europe. Bank transfer is the primary mode of purchasing Bitcoin from Kraken.
Bitrush
It is only available in Europe. Investors can buy Bitcoin instantly via Mybank, Bancontact, Credit cards and IDEAL.
Gemini
This exchange and trading platform is currently available in the USA. It allows investors to store, buy and sell digital assets. Investors are FDIC insured and entitled to a compensation of $250,000 in the event of a loss. Bank deposit is the primary mode of purchasing Bitcoin.
Bitstamp
This is the only licensed and regulated virtual currency exchange platform in the European Union. Investors use bank transfers to deposit funds and purchase Bitcoin.
LocalBitcoins
LocalBitcoins is a peer-to-peer exchange platform. It connects local traders who dictate the terms of trade. It’s flexibility in terms of confidentiality and payment methods make it a popular platform for local traders. Investors can choose to pay via bank transfer, cash or even PayPal.
Shapeshift
This exchange platform is perfect for investors with a big portfolio of cryptocurrencies. It allows traders to exchange coins back and forth without going through the process of registering a new account.
Conclusion
Without a doubt, investing via Coinbase is the surest way to have a secure, easy and convenient trading experience. The presence of popular financial institutions and hedge funds on Coinbase is a good indicator that this is the exchange platform of choice for investors.
Using this guide, you can rest assured that you have reliable and accurate information on how to buy Bitcoin and other cryptocurrencies.
The post How to Buy Bitcoin and Other Cryptocurrencies (Guide) appeared first on TradingGator.
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