Whether you are an investor or not – we are sure that you have heard about cryptocurrency or digital currency and Coinbase. In this blog, we aim to give you a brief idea of how to get started with investing with Coinbase.
Coinbase, which went live last year, is a safe platform for buying, selling, transferring, and storing digital currency.
What is digital currency?
Cryptocurrency is basically decentralized digital money which can be stored on online platforms. One of the most famous cryptocurrencies is Bitcoin, which was launched in 2008. Over the past decade, other cryptocurrencies have also made a name in the market, such as Ethereum, etc. In digital currency, you can transfer value online without the involvement of a middleman. Although many investors are keen on investing in cryptocurrency, several others are sceptical. This is mostly because it is not controlled by any government body or a central authority like other forms of currency. The market is highly volatile as well.
What is Coinbase?
As mentioned before, it is a cryptocurrency trading and investing platform. It has over 89 million verified users and a strong asset base. On Coinbase, you can exchange and transfer cryptocurrencies like
- Bitcoin
- Cardano
- Solana
- Dogecoin
- Chainlink
- Litecoin
- Tether and many more.
Trading on this platform is quite easy which we will be talking about. The best part about it is that you do not require any special skills to be able to trade on it. It is available on the web and also on iOS and Android phones. Coinbase is accessible 24*7 so you can log in and enter at any time. It has its headquarters in Wilmington, Delaware.
Know how to start investing in Coinbase.
Step 1: Doing your own research
Research is extremely important before you start trading cryptocurrency on any platform. Since you have chosen Coinbase, find out its share price and go through its quarterly reports. You should also check its performances over the past few quarters. You should also assess its financial report so that you can gain insight into how it is performing. Is it safer than other platforms?
Step 2: Know the basics
You have to be at least 18 years old and must possess a government-issued photo ID for creating an account. A stable Internet connection, a phone number for message verification, and the latest version of your Internet browser are also needed. You also need to set a password so that your account is safe and secure. You must add a payment method so that you can transfer money to your Coinbase account. There are various options available for the same, such as PayPal, debit card, Apple Pay and more. Once that is done, you can start trading cryptocurrency on Coinbase.
Step 3: Buy and sell
To buy and sell cryptocurrencies on Coinbase, you have to click on the buy/sale button, specify whether you want to make the purchase this one time or whether it should be your daily or weekly transaction, enter the amount, select the cryptocurrency, and lastly, select your payment mode.
Conclusion
Various investors like Josh Baazov are investing in cryptocurrency because of the meaty returns. Since Coinbase is a trusted platform; we totally encourage you to start investing through Coinbase. It is an easy way to get started because Coinbase is really easy to use and allows you to trade throughout the day. You can start by buying a small amount of crypto. One pro tip that we need to share with you is that when you are purchasing cryptocurrency, make sure that your investment strategy is diversified. Do not put all your money on a particular cryptocurrency. Play a safe game. All the best!
Originally published at kangblogger.com
