Coinbase is, without a doubt, the best platform for beginners to invest in cryptocurrencies easily and safely. In this article we are going to explain how to invest in cryptocurrencies step by step using Coinbase. You can buy bitcoin in Dubai with cash, especially Coinbase using the online buying and selling bitcoin platforms.
Why use Coinbase
Without a doubt, the platform I recommend to invest in cryptocurrencies for beginners is Coinbase .
Today a large number of cryptocurrencies can be bought and sold through Coinbase, including Bitcoin, Ethereum, Cardano, Tether, Solana, Polkadot, Dogecoin, and many others . They are expected to add more coins in the coming weeks and months.
The main reasons justifying this choice are:
Reliability : In addition to being a listed company (NASDAQ: COIN), which is always a good sign, behind this platform are well-known institutional investors. This is very important because in the past there have been scams with the purchase of Bitcoins (one of the most notorious was that of Mt.Gox but there have been others recently also very notorious) and, therefore, we only want to invest through platforms proven and reputable. In addition, it has about 70 million users and the quarterly volume traded is 462,000 million dollars.
Simplicity : People call this the simplest platform to invest in. This is as true beginners in cryptocurrency investments will quickly find themselves lost but if the user have visited the complex platforms earlier
Speed : you can invest both with a credit card and through a SEPA transfer (normal). In both cases you can start trading 1-2 days after opening the account (in some cases even after less time), which is much faster than many other platforms that take almost a week (if not more ).
It has a built-in digital wallet : this makes the investment cheaper as you do not need to buy a separate wallet. However, we still recommend that you do buy it to make sure 100% that if Coinbase suffers a cyber attack, your coins do not disappear. Our recommendation is the
Ledger Nano S .
The only drawback that Coinbase has compared to other platforms is that its commissions are higher than those of other platforms . At the moment they charge 1.5% of all operations, while other platforms charge around 0.5-1%. However, I personally consider that the reliability of the platform and the fact that it has a built-in wallet justify the difference in commission. Also, keep in mind that cryptocurrencies are highly volatile, so a commission of 1.5% is potentially irrelevant to the expected profit.
In short, the advantages of investing in Coinbase far outweigh its disadvantages, which is why I consider it an excellent platform to buy and sell the main cryptocurrencies of the moment .
Investing in cryptocurrencies through Coinbase step by step
Below I explain, step by step, how to invest in cryptocurrencies through Coinbase.
Step 1. Create an account
The first thing to do is create an account, which takes just a few minutes. To do this, click on this link to make sure you receive the welcome gift.
To register you will have to give your name and your email and your identity card. All of this shouldn’t take more than 3-5 minutes.
You may be asked to verify your phone number; It is very important to have two-stage authentication, which makes your Coinbase account even more secure. That said, it is even more secure and, therefore, it is advisable to activate 2FA through an application, such as Google Authenticator.
Step 2. Choice of payment method
Next we must choose the payment method to add funds to our Coinbase account.
The advantage of credit cards over bank transfers is that the funds appear in our Coinbase account directly instead of having to wait a couple of days.
Step 3. Purchase of cryptocurrencies
Once our Coinbase account has funds, we can start investing in cryptocurrencies (you can invest in dozens of cryptocurrencies, including Bitcoin, Ethereum, Cardano, Tether, Solana, Polkadot, Dogecoin and many others ).
To do this, we go to the purchase tab and indicate the amount in our currency that we want to invest in the selected cryptocurrency. Coinbase’s price and commissions are clearly indicated at the time of the purchase order.
And that’s it, buying das cryptocurrency is as simple as that .
Once you want to close your position, you simply have to reverse the process by selling your cryptocurrencies in the same way that you bought them. Again, it is really simple.
Step 4. Transfer the cryptocurrencies to an offline key (optional but highly recommended)
As I said before, Coinbase is a serious and reputable company that respects all current US legislation (it is a San Francisco-based company) and that has the backing of many very important financial players and investors. This makes it a very secure platform a priori.
But as if that were not enough, they also keep 98% of their clients’ cryptocurrency funds on physical devices that are not connected to the internet and which they keep in safes around the world.
Therefore, it is possible to leave our cryptocurrencies in the Coinbase online wallet quite calmly. However, to be 100% sure that no one steals or hacks our Coinbase account, I recommend adding an extra layer of security by using a wallet that only you will have access to. But the thing is you can buy cryptocurrency in Dubai online with ease that is the point.
In this article we have seen how to invest in criptomonedas easily but securely using Coinbase and storing our coins in a Ledger Nano S . That said, it is important to emphasize that this is a very volatile investment, for which you can make or lose a lot of money very quickly. Therefore, I recommend that if you decide to invest in cryptocurrencies, do not invest more than money that you can afford to lose and that you also learn to control your emotions.