Are you wondering how to open a Coinbase account and start making money?
Great! But before that, let’s cover some information concerning Coinbase.
So what’s Coinbase?
As a matter of fact, Coinbase is a very successful cryptocurrency exchange in the world and provides trading, custodian and wallet services in many major countries.Currently, their main office is in San Francisco, California, in the United States. Moreover, the foundation date is on June 20, 2012, and the co-founders are by Brian Armstrong, and Fred Ehrsam.
Also, Coinbase provides its users cryptocurrency online wallets for storing, buying, selling and exchanging cryptocurrencies with other wallet users, created Coinbase Pro platform for traders. Recently, they also announced that they created a Coinbase pro mobile application designed for mobile users. Now, they launched only for IOS platform. Coinbase Pro for android users to be launched soon.
For more information regarding their mobile app, you can follow this link: https://blog.coinbase.com/introducing-the-coinbase-pro-mobile-app-9b8f2e132ad
To download, please follow the link below: https://apps.apple.com/us/app/coinbase-pro/id1446636681
Also, coinbase users can easily purchase any available cryptocurrency in their platform like they buy almost anything on the Internet using credit cards. They also present an option to buy cryptocurrencies by using their Coinbase Pro trading platform right in the exchange, with lower fees.
More information about this you can find below in our guide. You do not need to know or understand about cryptocurrencies well to create an account in Coinbase. They provide very easy to use, step by step automated procedure which makes their platform unique, user-friendly and attractive for all newbies.
Here is how you can get started to open a Coinbase account. We will provide you a step by step guidance so you can buy your first crypto assets easily.
Registration of a Coinbase account
In order to open a Coinbase account go to Coinbase.com in your favorite web browser and press the “start” button which is in the top-right corner. Hence, the link is https://www.coinbase.com/ Please make sure to NOT use any other link for registration while opening a Coinbase account.
Enter your credentials (Please NEVER use a similar password related to). Accept the terms and conditions by ticking the checkbox. Once you entered your credentials, Click on ‘Create account’.
Click next. This is to inform you about GDPR policy.
Click “I acknowledge” button. This is to inform you on where your data will be shared.
Choose whether you want to receive some updates about the services and products of Coinbase
At this stage, you need to verify your email
Now you will be able to activate your Coinbase account by visiting to your email inbox and clicking on the link sent by Coinbase
Once you clicked on the verification link, you will be prompted to log in to your Coinbase account. At this stage, you need to set up a two-step verification by confirming your mobile number. Do not worry, Coinbase requires this for solely security purposes to notify you via text if you are signing from a new device.
Coinbase now will ask you to present some more information about yourself such as the purpose you want to use Coinbase, Your employer, source of funds, personal information and address information. You may skip this stage, but the purpose of these questions is the security and the demand of financial regulators. Please note you must provide only correct information as you will provide your passport copy or copy of your driving license and photo identification for completion of your account on Coinbase platform
You’re wondering how to open a Coinbase account, weren’t you?
Finally, we’re at the final step. The last step to open a Coinbase account is the verification process, Coinbase will present you 3 ways to proof your identity Click on the one you want to proceed
If you already chose Photo ID, another window will be opened. Please follow on the instructions you would see in the newly opened window.
Consequently, after you submit all the required documents, Coinbase will start to verify your account and you can start buying your first cryptocurrency. Usually, the verification process can take up to 1 week if your provided documents are all correct.
Also, please make sure to have your Coinbase account opened fully too before you purchase any cryptos.
Coinbase payment methods
Coinbase has very flexible payment methods. Hence, if you would like to know more about their payment methods, please follow on the below indicated links:
Payment Methods for European Customers: https://support.coinbase.com/customer/en/portal/articles/1767231-payment-methods-for-european-customers
Payment methods for the USA customers: https://support.coinbase.com/customer/en/portal/articles/1148716-payment-methods-for-us-customers
Payment Methods for Australian Customers: https://support.coinbase.com/customer/en/portal/articles/2501515-payment-methods-for-australian-customers
Payment Methods for UK Customers: https://support.coinbase.com/customer/en/portal/articles/2949612-payment-methods-for-uk-customers
Coinbase Frequently Asked Questions: FAQ
1. What are the Coinbase Pro fees?
For its trading model, Coinbase uses a maker-taker fee model. For more information on how much are the maker and taker fees, please see below. Also, they are divided into categories based on the amount of money you would like to trade.
|Pricing Tier||Taker Fee||Maker Fee|
|$10 — 50K||0.35%||0.35%|
|$50 — 100K||0.25%||0.15%|
|$100K — 1M||0.20%||0.10%|
|$1 — 10M||0.18%||0.08%|
|$10 — 50M||0.15%||0.05%|
|$50 — 100M||0.10%||0.00%|
|$100 — 300M||0.07%||0.00%|
|$300 — 500M||0.06%||0.00%|
|$500M — 1B||0.05%||0.00%|
2. What are the deposit and withdrawal fees on Coinbase Pro
Coinbase has very competitive deposit and withdrawal fees. For instance, European citizens have privilege as SEPA transfer method will be used, and they need to pay only 0.15 EUR for deposit.
|Deposit fee||Withdrawal fee|
|Wire (USD)||$10 USD||$25 USD|
|SEPA (EUR)||€0.15 EUR||€0.15 EUR|
3. Is Coinbase regulated?
Yes. Coinbase complies with all the laws in the Countries they operate. Coinbase is also registered as Money Services Business with FinCEN.
4. Is Coinbase safe?
Yes, coinbase is very safe. Thus, account numbers and routing numbers are stored using bank level AES-256 encryption on Coinbase servers. What is more, the traffic goes over SSL to prevent third parties from eavesdropping on your connection.
Coinbase also offers a great service to secure big amounts of cryptocurrencies. Cryptocurrency which is stored in a Vault account is protected by 2 or more approvers. Therefore, you can use your email addresses to confirm the transactions related to this specific wallet or use address of a 3rd party. As a result, the withdrawal from this type of address will take 48 hours, which means you can cancel the withdrawal if you did not initiate the withdrawal.
5. Are my funds insured?
Obviously yes. 98% of all cryptocurrencies are stored in offline wallets which means they are hack-proof to online attacks. Coinbase regularly upgrade their security measurements in order to keep all cryptocurrencies safe and secure. Hence, cash balances that are stored in Coinbase, are located in custodial banks Coinbase cooperate with according to the USA money transmitter laws.
Additionally, Coinbase secures cryptocurrencies in secure, online servers and offline storage. Coinbase maintains 98% or more digital currencies of its customers in cold storage.
6. What is the difference between Coinbase pro and Coinbase.
Apparently, Coinbase pro is an exchange and belongs to Coinbase company. Therefore, Coinbase customers can trade Cryptocurrencies in Coinbase pro.
7. Can I transfer funds from Coinbase pro to Coinbase?
Obviously Yes, if you purchase a cryptocurrency on Coinbase pro platform, you can transfer your fund to your Coinbase wallet.
8. Does Coinbase have a good customer service
Yes, usually they are providing support very fast, however depending on the complexity of a question may take a few days.
9. Does Coinbase pro have a mobile app.
Yes, they recently announced they created a Coinbase pro mobile application designed for mobile users. Currently, they launched the application for only IOS platform. Also, Coinbase Pro mobile app for android users to be launched soon.
10. How to use Coinbase pro?
You just simply need to go to pro.coinbase.com, login and start using the Crypto exchange.
11. Does Coinbase pro have margin trading?
No, Coinbase pro does not provide margin trading.
12. Is Coinbase Pro free?
Coinbase pro is free to use by itself, however, to buy and sell Cryptocurrencies, you need to pay maker and taker fee.
Trading fees information you can find below