What is Coinbase and how it works: when we talk about the easiest way to buy, sell or trade Bitcoin, Ethereum and Litecoin, we need to talk about Coinbase.
What is Coinbase
it is one of the most famous exchanges ever, it has taken hold because its ease of use is disarming, any person, with little or no knowledge of bitcoin can buy them in just a few steps.
The strength is simplicity, the fact that it is only exchange and not trading, and that it can be bought in many ways.
How to register in Coinbase
First things first, click on the image and go to the official website where you will make a short registration
It is very important to decide, as soon as possible afterwards that you will not be able to change, whether to register as an individual or a company.
Once you have finished, you will receive an activation link by email and then your bulletin board.
As you can see from the image, you have the three values of bitcoin, ethereum and Litecoin with the respective graph, just click on the name of the currencies and you will have current value and graph, on the right instead you can choose the reference period.
How to buy bitcoins, Ethereum or Litecoin on Coinbase
First we must say that if you want to buy or sell, you must verify your identity.
unfortunately almost all exchanges use this verification, without it you will not be able to do operations.
The verification is done on Coinbase in 2 different ways:
1) Through the Photos from the Webcam of your PC of the identity document Front, Back and a Selfie
2) Download coinbase app (remember that the first time you will be sent an email on which you will need to click from the phone same to confirm otherwise the app will not be verified). In this case it will be possible to verify your identity through the photo from the phone of the documents and selfies.
Identity verification problems: obviously the images must be sharp, I advise you to put the documents on a white sheet, I put them on a dark table and did not accept the documents for me several times.
Methods to buy bitcoins and other currencies
Click on Buy-Sell
you have to choose which currency to buy, and then choose how to buy
puts 1-2 days if you make the online transfer and follow the instructions:
click on the current account, copy the reference number that must be inserted in the reason, immediately choose the amount we will be transferring to and pay attention to the name of the owner of the account which must absolutely be in our name.
Without this you can make the transfer, Be careful to do exactly these simple steps.
Commissions and Coinbase spreads
Commission that co-takes by bank transfer: free for incoming bank transfer, 0,15 cents if you make a transfer to your account.
Be careful because the accounts do not return when they are purchased or sold
Look at this picture
As you can see, apart from the commissions that will be added in the next step, in prices at the top they indicate the current price, the button instead of the purchase, indicates another value, which is the current value plus the spread.
On Facebook a long discussion was born about this problem between purchase price and spread.
Many other exchanges do not apply this spread but some fees, such as 0,25% or similar.
For large volumes, you should consider other exchanges.
Postepay or credit card
the procedure is the same as the bank transfer, so choose the currency, choose a credit card (also postepay), put the amount of currency to buy and proceed.
Commissions for use of paper: attention that I am 3.99% of what you buy !!!!!!
325 euro limit
For new subscribers, you must wait for 40 days to remove the 325 weekly limit for purchases.
Online Wallet Receive Coin
Coinbase is also a Wallet, so you can ONLY receive BITCOIN LITECOIN AND ETHEREUM by sending our address like this:
1) Go into accounts
2) Click the receive button
3) Give our address to those who are going to pay us.
Send coin from our Coinbase
Same procedure as before
1) Go into accounts
2) choose the virtual currency to send
3) Click on send
4) Set recipient address
5) Put the amount
6) Proceed with sending
Commissions are 1,49%
Questions and doubts
If you have questions write in the comments, I will expand the guide