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HomeBUSINESSWhat is Coinbase and how does it work to trade cryptocurrencies?

What is Coinbase and how does it work to trade cryptocurrencies?

In this article we will tell you what Coinbase is, how you can open an account and how it works within the world of cryptocurrencies.

The idea is that you become familiar with the site and can take great advantage of it when buying or exchanging cryptocurrencies.

You will also learn the best tools to make regular investments on this website, without complications or unnecessary risks.

What does it consist of Coinbase?

The exchange between fiat currencies and cryptocurrencies has reached an impressive volume in recent years, thanks to certain trading platforms such as Coinbase.

This site operates in more than 30 countries and allows you to invest in cryptocurrencies in a reliable, simple and safe way, which makes it very attractive.

Additionally, it is designed to store and manage a large number of digital assets from anywhere in the world.

Some of the types of cryptocurrencies that this platform supports are Bitcoin, ethereum, Litecoin Y Dogecoin; that is to say, that your purchase possibilities are really wide.

The first thing you need to do is create your Coinbase account (click here to get started)

Get to know the essence of this cryptocurrency platform

coinbase began operating in 2012 with the purpose that all people could send and receive Bitcoin from anywhere on the planet, without feeling exposed or unprotected.

Through it you can openly access the modern cryptoeconomy and carry out operations with digital assets that bring you closer and closer to your financial independence.

Currently, some 56 million people, as well as thousands of institutions and collaborators, trust its services to spend, invest, store, use and earn crypto assets.

In coinbase You will get multiple tools to operate successfully as a private client, or under the figure of a business or institution.

In addition, its system is friendly, intuitive, efficient, transparent and accessible to all, thanks to the intrinsic characteristics of the ecosystem of digital assets.

In essence, this platform operates as a exchange of cryptocurrencies that allows you to exchange them for cash, or for digital assets.

Today, it is very popular within this highly competitive environment, and has positioned itself as one of the strongest and most reliable platforms in the United States.

This is because its security standards are extremely high and it has made sure to respect all the regulations in force in the country.

How to open a Coinbase account?

If you are interested in using the services of this platform to exchange fiat currencies quickly, easily and safely, you must open an account on the site:

ūüĎČ Create your free Coinbase account (click here to start)

Registration is completely free, and involves providing basic data such as your full name, email, and location.

It is a procedure that you will carry out in a matter of minutes, regardless of whether you are a natural user or a company.

Once your registration is complete, you will be able to log in to the site and you will even receive $5 free dollars in Bitcoins as a welcome concept.

And being a new member you will start working on your portfolio to cryptocurrencies, even without knowledge or experience.

Operation of the cryptocurrency platform

The operation of this platform is simpler than you imagine. Here we will explain it to you step by step:

1. The starting point is to register on the site (opening a free account).

2. When your registration has been approved, you will begin to explore all the possibilities available to you to carry out operations in this ecosystem.

3. If you want to buy cryptocurrencies, through your credit card, you must register it as a payment method.

4. Add your PayPalor your bank account, to make your transfers, or move your money to the bank.

5. Start managing your portfolio by buying or selling the digital currencies of your interest.

6. If you want to make a purchase, you only have to select the amount (in fiat currencies or cryptocurrencies), and wait for the funds to be credited in a matter of seconds.

7. On the other hand, if you want to receive Bitcoins in your wallet You must create an address. You will only have to click on the tab ‚ÄúSend/Receive‚ÄĚ and the platform will take care of the rest.

Other data of interest

In case you don’t know, you wallet it is literally your cryptocurrency address, and in a nutshell it operates like a bank account.

In this sense, you must share that number with the person who will send you funds, taking into account that each cryptocurrency has a unique address.

In other words, the Bitcoin wallet is not the same as the Ethereum wallet, and if you confuse them when receiving resources, you could lose them forever.

At the same time, it is important that you know that all transactions linked to the Coinbase wallet are processed in the blockchain.

How to buy cryptocurrencies through this platform?

how to buy cryptocurrency with coinbaseInvest in cryptocurrencies through this platform will not take you much time. You can do it from the web or through its own app (which is available for iOS and Android).

In the latter case, you must enter its lower part, specifically where it says “Operate”. (This same option is available on your page, but in the upper right area.)

It is right there where you can buy, sell and even convert your cryptocurrencies like an expert.

However, before completing any operation, we recommend you consult your portfolio thoroughly, so that you know the status of your assets.

In simple words: It is very important that you know how much money you have invested in cryptocurrencies and how your operations have evolved, before continuing to issue purchases.

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Additional recommendations before buying

Below we will share other recommendations that could make a big difference when buying, selling or exchanging coins and crypto assets on the site:

1. Consult the section on “Prices”, so that you know the status of all the assets that you can manage on the site.

2. Know the current market status, as well as the value of each asset in real time, so that you can later compare it with the value of the last 24 hours.

3. Evaluate the rises and falls of the assets (those that you have bought and the rest of those that are available in the general market), before carrying out any operation.

4. Make sure you know how the cryptocurrencies you can trade on the site work, and don’t hesitate to get some of them on a trial basis.

5. Try to schedule your purchase operations so that you have greater control of your activities.

6. Get familiar with the web and app applications; that way you can operate them without problems and from wherever you are.

These tips may seem simple, but you shouldn’t underestimate them if you want to make more conscious and favorable purchases, sales, or trades on Coinbase.

Main advantages of Coinbase

coinbase advantages

Coinbase has multiple advantages, such as the ones we present below:

1. This site supports a large number of digital currencies (including the most popular ones on the market, such as Ethereum, Bitcoin, Bitcoin Cash, Compound, etc.)

two.You can create an account for free and in a few minutes.

3. Linking your account on the site, with your own bank account, is easy and fast. And it is the starting point to start buying or selling.

4. You have the option to earn up to $25 in cryptocurrency, and then you can use those funds to understand how they work.

5. Your funds are kept protected at all times, and as if that were not enough, your cryptocurrencies are well covered by an insurance policy.

6. Its mobile application allows you to carry out your transactions with security and confidence, regardless of where you are.

7. You can manage your cryptocurrency portfolio without complications through Coinbase, along with continuous and real-time monitoring.

8. This site allows you to schedule your purchases and investments, either daily, weekly or monthly.

9. You have the option of keeping your funds in a safe to raise security standards.

10. This platform is very easy to use. Forget about the charts and indicator charts that often overwhelm you and focus on trading on the push of a button.

11. You can receive cryptocurrencies, thanks to the fact that this platform also acts as a digital wallet.

12. If you have a company you can take advantage of all the benefits it offers you “Prime‚ÄĚ, your main brokerage platform.

13. You can join their affiliate program, actively promote the site and earn commission for each new user who signs up thanks to your promotions.

Furthermore, according to a report from Business Insider, This platform could be very valuable to you if you give importance to its main functions, such as:

  • mobile access.
  • Excellent customer service.
  • Great educational resources.
  • digital storage.

Disadvantages to be aware of

It would be reckless to talk about Coinbase and ignore its biggest drawbacks. For this reason we will share them with you immediately:

Lower preferences for Latin America

Coinbase’s preferences, as well as its range of possibilities to buy, sell or exchange currencies and crypto assets, are lower in Latin America.

In fact, in the Latin American region, only Mexico and Chile have full support for buying cryptocurrencies with fiat money.

Comission’s payment

You are obliged to pay a bank commission for each operation you carry out on the site. This will vary depending on the currency used and the country where you live. So you will have to pay:

  • 0.50% for the purchase and sale of cryptocurrencies.
  • 2.00% for the transactions you make with credit cards.

Additionally, you will have to pay between $0.99 and $2.99 ‚Äč‚Äčin commissions, depending on the amount of each operation.

In turn, if you make a payment with SWIFT they will charge you a mandatory surcharge of $6 dollars, although purchases with transfers in the so-called “SEPA network” have no cost.

However, you must be clear that this site will not charge you commissions for making a transfer between accounts on the same platform.

Do you wonder why? This is because the funds are in the same exchange house, and therefore, you will not have to pay anything to the network.

Coinbase, a reliable and secure cryptocurrency platform

Today, Coinbase is one of the world’s most trusted, simple, and secure platforms for buying, selling, or trading fiat and cryptocurrencies.

Its quarterly traded volume exceeds $335 billion dollars and more than 56 million users have been verified by the site, which exalts its benefits and benefits.

In the same way, it is important that you know that Coinbase has never experienced security problems and that they have never stolen funds from their reserves, as has happened with other cryptoactive exchange houses.

In short, it is a cryptocurrency platform that allows you to trade quickly and safely, and even trade like an expert.

Continue reading: 7 Ways to invest in cryptocurrencies easily and simply

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