01/03/2018

Simple Guide To Purchasing Digital Currency With Coinbase

Introduction
To learn more about digital exchanges, please check out The Ultimate Guide To Digital Exchanges. The Coinbase exchange can be found at https://www.coinbase.com/. Coinbase offers purchases and sales of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash using a U.S. bank account, credit/debit card, or wire transfer.

The first rule when dealing with digital currencies is that you are solely responsible for the security of your funds. Use your own digital wallets to store tokens you intend to store for the long term. Unless otherwise specified, transactions made with digital currencies are irreversible and not anonymous. Practice sending small amounts of currency between digital wallets before making large transactions and always double-check to be sure you’re sending tokens to the intended address. 

Getting Started
Click the “Sign Up” button in the top right corner of the screen to create an account. Enter your information, click the Captcha and “Create Account” to get started.

Sign Up

After creating an account you can log in to the Coinbase dashboard displaying the current spot prices and charts for the digital currencies offered by Coinbase.

Dashboard

Click the “Buy/Sell” tab to purchase and sell digital currencies. You can choose between connecting a bank account, using a credit/debit card, or initiating a wire transfer to fund your digital USD wallet on Coinbase or purchase currencies.

Purchasing Info

Click the “Accounts” tab to view your wallet balances and transaction history. You can also send and receive tokens using the buttons by each wallet in your account.

Accounts

Advanced Features and Security Considerations
Some exchanges offer margin trading, futures, and other features designed to enhance the trading experience for more advanced users. It is recommended that users develop a solid understanding of trading and investment before purchasing digital assets or making use of advanced trading features. Be aware of the tax implications incurred by trading in your jurisdiction and the inherent risks of investing in general. Using an exchange can be intimidating for new users so practice making trades with small amounts of currency until you are comfortable using the platform of your choice. Most importantly, have fun!

Authored by

Seth Goldfarb

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