Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in around 32 countries, and bitcoin transactions and storage in 190 countries worldwide. There are are multiple exchanges where you can buy bitcoin however Coinbase is the fastest and easiest way. I will be posting those exchanges in future posts. This is the best place to start whether you plan on holding, trading, or out there looking to buy other cryptocurrencies. Also! Use this link to receive $10 to your Coinbase account after your first purchase of anything over $100.00.
Creating Your Account
When you go to Coinbase.com to create your wallet a screen will be presented where you can enter your first/last name, email address, and password. Select the checkbox and then click the Sign Up button.
Once your wallet is created there are a few steps necessary for security purposes and to link your bank account, PayPal, and credit/debit card so you can start exchanging your currency for Ethereum.
Phone Verification
Add Payment Accounts
Validate Identity
Phone Verification Phone verification is necessary to serve as a secondary authentication source to further protect your wallet. The one caveat to this is you will need to enter your cell phone number. Once you enter your phone number you will receive a text message with a verification code to enter on the site. Enter the code and verification is now complete. Add PaymentAccounts Now that our phone number is validated we need to link a bank account, credit/debit card, or PayPal to transfer money into and out of the Coinbase wallet. I chose to link both my credit card and bank account. This allows me to have funds available immediately when transferring to my Coinbase wallet.. During this part of the setup process I would recommend linking your bank account as no ID verification is required for that step. Linking Your Credit Card Account For this next step you are required to validate your ID. If you have a camera on your computer you can upload the image that way. I found it easier to install the Coinbase app on my smartphone and upload my ID that way. If you do it through your computer you will go to Settings > Payment Methods > Add Payment Method
Select PayPal or Credit/Debit Card and then click on the upload ID link. This will enable your camera and allow you to upload your ID. Once your ID has been verified you will be able to complete your account linking and start transferring funds.
Accessing Account Settings
Add Payment Method
Available Payment Methods
Identity Validation
The last thing we need to do is validate your identity by filling out your account profile form. When you go to your account settings you will see a link like the one below. Click that and it will take you to the Identity Verification form. Enter your information and this step is complete and your wallet is now active.
Identity Verification Form
Congratulations! You are all set up. If you have any questions go ahead and shoot us an email. Please remember to use this link to receive 10 dollars after your purchase of $100.00 or more of any cryptocurrencies sold on Coinbase. Please review our other guides on how to start trading cryptocurrencies.