How to Create a Coinbase Account?

An important component of the crypto-world, Coinbase is the premier fiat-on-ramp and digital currency exchange. It allows people to buy …

An important component of the crypto-world, Coinbase is the premier fiat-on-ramp and digital currency exchange. It allows people to buy cryptocurrencies using FIAT or traditional money and also to cash crypto-assets back to it. Also, it features a secure exchange where users can trade crypto-assets. The service further features a wallet, where users can store cryptocurrencies and analyze data related to price/portfolio worth.

This article will guide you on how to create an account on Coinbase, since its one of the chief gateways, to the crypto-world.

Creating an Account

Coinbase user interface is designed for simplicity and ease of use. An account can be created in a few simple steps. Once you have gotten to the website, you need to open the sign up page. The next step would be to enter the complete name, email address and desired password. You will now receive a verification link on the entered email address, which you must click to proceed to the next level of account set up. Next, the system will ask you to input your mobile number to enable two factor authentication, this adds a robust layer of security, so even if your email address and password is compromised, the attacker can’t login to your account, unless the code sent to your mobile is entered. Your account on Coinbase is now created.

FIAT-On-Ramp

The most salient feature of your Coinbase account is that you can buy crypto assets using your debit/credit card and bank account. You can also convert your crypto-assets back to FIAT and withdraw to your bank or PayPal account. This service however isn’t currently available in all countries, you must check the Coinbase documentation to check the countries, where you can do that.

Cryptocurrency Exchange

Coinbase also has a digital currency exchange where you can trade crypto-assets. The exchange interface also is user friendly and similar to other prominent exchanges.

Coinbase Wallet

Coinbase features an inbuilt multi coin wallet where you can store your crypto-assets securely. It can also be used even if you don’t have a consumer account on the service. It can accessed on Web or iOS/Android version clients. However, you don’t control the private keys on the wallet and hence its advisable to withdraw it to an external wallet. But Coinbase also provides vault and multi signature wallet options, both of these options are more secure than regular wallets, because they require multiple providers to authenticate transfers. The platform also launched its own debit card which allows users to use their crypto-assets easily, like traditional debit cards, but the service rollout is currently limited.

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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.

Posted By

Taha Zafar

A cryptocurrency and blockchain enthusiast by heart. Taha Zafar has been active in this space since 2017, he has experience with both investing and fundamental analysis of crypto assets. He has also worked extensively with deflationary tokens.

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    (Graphic courtesy of Trustnodes)

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    “The Ethereum network has become congested with users complaining transactions are taking hours or in some rare instances, even days,” Trustnodes writes:

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    According to the outlet, tethers (USDTs), “…(are) used for arbitrage between global and local exchanges as well as to bypass national or international restrictions…on crypto trading, capital controls, and so on.”

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    “Using algorithms to analyze the blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. Less than 1% of hours with such heavy Tether transactions are associated with 50% of the meteoric rise in Bitcoin and 64% of other top cryptocurrencies. The flow clusters below round prices, induces asymmetric auto-correlations in Bitcoin, and suggests incomplete Tether backing before month-ends. These patterns cannot be explained by investor demand proxies but are most consistent with the supply-based hypothesis where Tether is used to provide price support and manipulate cryptocurrency prices.”

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    Trustnodes describes that process of trading crypto in jurisdictions under a ban as follows:

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