Coinbase is easy to set up but requires some information, including your legal name, home address, date of birth, last four digits of your Social Security number and how you plan to use Coinbase. That’s to comply with federal regulations. Here’s how to begin.
That’s it. You’ll be dropped off on the main page of Coinbase now, where you can get started buying cryptocurrencies.
How to buy bitcoin with Coinbase
Now I’ll show you how to buy some cryptocurrency. Let’s purchase a fraction of a bitcoin since that’s the one you’ve probably heard of most. But this process is the same for all the currencies offered on the Coinbase platform.
That’s it! You can trade your bitcoin instantly after you buy it, but you’ll need to wait eight days before you send it to someone.
How to sell bitcoin with Coinbase
Now let’s say you’re ready to sell your crypto assets. Here’s what you do.
How to withdraw funds from Coinbase
Maybe you’re ready to take some profits off the table. You’ve sold your crypto but now you want to move it back to your bank account.
Note that if you’ve just purchased or sold funds you may still have a withdrawal-based limit. Something I just purchased and sold this morning for the sake of this guide can’t be sold for eight days, for example. Once that time has passed, here’s what you do:
That’s it. Now you’ve learned how to set up Coinbase and use it to buy and sell cryptocurrencies, and even withdraw to your bank when you want to.