What is Coinbase?
The Coinbase platform, founded in June 2012 by Brian Armstrong and Fred Ehrsam, is a cryptocurrency exchange platform for buying, selling and storing Bitcoin (BTC) , Ethereum (ETH) and Litecoin (LTC) . In 2016, Coinbase reached second position in the Richtopia ranking of the 100 most influential organizations in the blockchain . In May 2017, the platform reached the record number of more than 7,400,000 users in 190 countries. Its refined interface, and its fast payment methods (via bank card in particular) make Coinbase the most accessible platform for beginners.Register on Coinbase
Let's start by creating an account on Coinbase by clicking on the image below:
By registering with the link above, you will get € 10 of free bitcoins for € 100 of purchased bitcoins. Isn't life beautiful? Coin The Coinbase bonus also works if you buy Ethereum, Litecoin or Bitcoin Cash. Registration is quite simple, you will be asked to fill in the fields below:
Once this step is validated, you will receive an e-mail containing a link. Click on this link to verify your email address . You can then continue the registration process.
You will need to enter your phone number and enter the verification code that you will receive by SMS. Then comes the stage of identity verification .
You will need to send a copy of your ID to Coinbase for your account to be validated. You can send your choice: passport, driving license or identity card. There are two ways to send your ID:
- Take a photo of your ID from your computer webcam
- Take a photo of your ID from your smartphone (you will receive a link by SMS, click on it and let yourself be guided)
Secure your Coinbase account with double authentication (2FA)
I know you can't wait to see your first bitcoins in your Coinbase wallet, but I want to emphasize the importance of keeping your account secure . I will show you how to protect yourself effectively against computer threats.To begin, we will activate double authentication (two-factor authentication in English, 2FA) on your account. The principle of double authentication is simple, instead of connecting to your account only with the password, the connection is based on two factors: the password first, then a unique and temporary code generated by an application on your smartphone .
By thus relying on a piece of data that you know (the password) plus an object in your possession (the smartphone), you drastically reduce the possibility of having your account stolen, since if someone recovered your identifiers he would have in addition need your smartphone to connect to your account.
Google Authenticator is the most used application on mobile to manage its codes, it is available on iOS and Android and works in the same way on both platforms. Start by installing the Google Authenticator app on your smartphone.
The application is installed on your smartphone? Perfect, let's take the next step. Retrace Coinbase in the section Settings of your account, then click Security.
Click Activate the authentication application . You will then see a QR code AND a 16-character Google Authenticator secret code appear on the screen . Write down the secret code somewhere and keep it in a safe place .
You will need this secret code to access your account if you lose your smartphone and therefore your access to Google Authenticator.
You can now open your Google Authenticator application and click on the small ➕ to scan the Coinbase QR code . Here you are, your 2FA code (double authentication) now appears on your application. You must now enter the 2FA code displayed on Google Authenticator on Coinbase to complete the activation.
Congratulations.. Your account is now secure with double authentication. The code generated by the application will be asked for each connection attempt.
We can take the next step: buying your first bitcoins! If you forgot to register your 2FA backup code (double authentication), don't panic! Click Settings> Security> Generate secret key again .
However, if you have lost your phone and your 2FA rescue key, you must contact Coinbase support to try to regain access to your account.
How to buy bitcoin using Coinbase.
Before you learn how to buy bitcoin using Coinbase, First of all, I will show you how to create your Bitcoin address. Go to Tools > Addresses then select BTC Wallet and click on ➕ Create a new address . You will understand, you can also create an Ethereum address or a Litecoin address by selecting ETH Wallet or LTC Wallet.
Your new address appears:
Now that your address is created, let's move on to buying bitcoins. Coinbase allows you to choose between two methods:
By credit card
- Terms: only Visa, Mastercard and Maestro cards with support for 3D Secure authentication are accepted
- Fee: 3.99% per transaction
- Deadlines: reception of bitcoins immediately after purchase
- Ceilings: deposits limited to € 500 per week
Select Bank card (3D Secure)
Fill in your credit card information, you should then have a confirmation message. To buy your first bitcoins, click on Buy digital currencies.
You will then be redirected to a page allowing you to buy bitcoins by bank card. Among the 2 cryptocurrencies on offer, select Bitcoin.
Choose your payment method (the bank card you just added) and enter the amount you want to buy (in the example: € 100). The details of your future transaction appear on the right: number of BTC to buy, price of BTC at the time of purchase, costs.
You just have to click on Buy Bitcoin immediately to receive your precious Bitcoins.
By bank transfer (SEPA)
- Prerequisite: contact your bank to activate European bank transfers
- Fees: 1.49% per transaction
- Deadlines: 4-5 days upon first deposit
- Ceilings: deposits limited to € 9,000 per week
How to purchase by bank transfer.
To start click on Settings > Payment methods
Select Bank Account (SEPA)
Fill in your IBAN information then click on add
A message of this type will then appear on the screen
Attention , the information on the image above is given for information only. Be sure to use the information that appears on your screen.
You will need to register Coinbase as a new beneficiary with your bank. This new beneficiary is based in Estonia. In most cases, you will need to contact your bank advisor to authorize you to make European transfers.
Are you ready ? Have you registered Coinbase as a new beneficiary and can you make bank transfers across Europe? It's perfect, we can continue.
You will start by making a transfer to Coinbase for a small amount (€ 1 for example). This will allow you to verify that everything is working.
Very important , during this transfer it will be necessary to remember to fill in the reference number which was indicated in the banking information of Coinbase (see above).
This reference number must be indicated in the reference (or description) of the bank transfer. Once your transfer is complete, you should receive an email within 48 hours telling you that your deposit has been received.
Your bank account is now verified, you will be able to make a SEPA transfer of the amount of your choice. Remember to always indicate your reference number if you do not want your transfer to be lost in nature.
To buy bitcoins with your freshly deposited euros via your bank transfer, simply go to the Buy / Sell or Buy / Sell page. Select Bitcoin and enter the amount in euros (or in bitcoins) and validate the transaction by pressing Buy Bitcoin immediately.
We explain how to do it, both on the website and on the mobile app. At the end of the video, focus on Coinbase Pro (formerly GDAX) which will allow you to buy cryptocurrencies free of charge.
Select Bank Account (SEPA)
Fill in your IBAN information then click on add
A message of this type will then appear on the screen
Attention , the information on the image above is given for information only. Be sure to use the information that appears on your screen.
You will need to register Coinbase as a new beneficiary with your bank. This new beneficiary is based in Estonia. In most cases, you will need to contact your bank advisor to authorize you to make European transfers.
Are you ready ? Have you registered Coinbase as a new beneficiary and can you make bank transfers across Europe? It's perfect, we can continue.
You will start by making a transfer to Coinbase for a small amount (€ 1 for example). This will allow you to verify that everything is working.
Very important , during this transfer it will be necessary to remember to fill in the reference number which was indicated in the banking information of Coinbase (see above).
This reference number must be indicated in the reference (or description) of the bank transfer. Once your transfer is complete, you should receive an email within 48 hours telling you that your deposit has been received.
Your bank account is now verified, you will be able to make a SEPA transfer of the amount of your choice. Remember to always indicate your reference number if you do not want your transfer to be lost in nature.
To buy bitcoins with your freshly deposited euros via your bank transfer, simply go to the Buy / Sell or Buy / Sell page. Select Bitcoin and enter the amount in euros (or in bitcoins) and validate the transaction by pressing Buy Bitcoin immediately.
Download and use the Coinbase mobile app
Coinbase has its own mobile application available on iOS and Android. On the application you can purchase and sale of bitcoins , send the bitcoins to another wallet, access to your portfolio , view your transaction history and set up alerts to be notified of changes in the BTC or ETH.
How to buy bitcoin using Coinbase Video Tutorial.
If you prefer to watch this tutorial on video, it's just below. You will discover In this tutorial, you will discover how to open your Coinbase wallet and How to buy bitcoin using Coinbase with your credit card or your bank account, how to register, secure your account ...We explain how to do it, both on the website and on the mobile app. At the end of the video, focus on Coinbase Pro (formerly GDAX) which will allow you to buy cryptocurrencies free of charge.
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