Are you looking to start trading cryptocurrency but don’t know where to start? Look no further than Coinbase Wallet. This self-custodial wallet provides complete control of your crypto, with private keys stored directly on your mobile phone for added security. In this tutorial, we will discuss with you how to create an account, verify your identity, and buy, sell, and convert cryptocurrency on Coinbase Wallet.
Disclaimer: Please note that we are not financial advisors and provide this information for educational purposes only.
Getting Started
To create an account using the Coinbase app, download it and click the “Create Free Account” button. From there, fill in your details, such as your name and last name. Once you have provided this information, check the box that certifies that you are 18 years of age or older. Next, verify your email by clicking the link in the email that you receive.
Verify Your Identity
To trade cryptocurrency on Coinbase Wallet, you will need to verify your identity. This involves adding a payment method and confirming your identity with KYC (Know Your Client). Once you have completed this process, you will have access to the complete benefits of the app.
Buying, Selling, and Converting Cryptocurrency
To buy, sell, or convert cryptocurrency, sign in to your desktop or mobile app, verify your identity, and select the “Buy and Sell” option at the top of the page. If you have not completed the necessary steps to verify your identity, a prompt will appear to help you do so.
Once you have completed the verification process, type in the amount of cryptocurrency you wish to buy or sell. You can choose from a range of coins, including Bitcoin, and select your preferred payment method. You can choose a one-time or recurring purchase, and preview the transaction before confirming. Once you have confirmed the transaction, you will receive the cryptocurrency in your wallet.
Sending and Receiving Cryptocurrency
If you want to send cryptocurrency to another wallet, go to your dashboard and click on “Send, Receive and Pay”. Select the “Send” tab, enter the amount of cryptocurrency you wish to send, and click “Continue”. You will be promoted to confirm the transaction before it is completed.
Conclusion
Coinbase Wallet is an excellent choice for anyone looking to trade and store cryptocurrency safely. With its user-friendly interface and secure storage options, it is a reliable option for both beginners and experienced traders. Remember to always conduct your own research and seek professional advice before investing in cryptocurrency.