Once You have clicked the link above, you will go through the process of creating your account. Very simple email/password.
Part of the account setup will be personal verification. As mentioned before this is due to government regulations and helps secure your account and more importantly your cryptocurrency.
Once you have created your account and verified yourself, remember to check your email address as there will be an email to verify your email address.
After all of this, you are ready to start buying your first cryptocurrency!
Buying Your First CryptoCurrency:
The home page may seem a bit confused at the start and that is fine, there will be terms which make no sense, coins which you will never have heard of and things which may, in general, confuse you. But let’s start by doing the simplest of things, buying your first slice of Bitcoin.
On the home screen, you will see an asset panel and in fact, Coinbase allows you to buy multiple cryptocurrencies.
I recommend starting with bitcoin as this is your main cryptocurrency and all coins rely on Bitcoin and its price. So click on the bitcoin asset panel.
This will take you through to a new screen where you will have the chart for Bitcoin, buy and sell options of Bitcoin and information around what Bitcoin is.
I advise you to take a few minutes to get used to this screen, have a read through and scan Bitcoins charts. You want to buy Bitcoin when the price is as low as you think it will go over a period of time.
Do not buy Bitcoin at a price spike, it is guaranteed to correct in its price, wait until the price looks flatter. That is a great time to buy as that is known as a ‘Support Region’
(Side note, I will be releasing more articles around trading, reading charts, so please keep checking up on us)
Now for the part you have been waiting for, buying your Bitcoin. It is very simple, place in the amount you want to buy, again if you used our link above to sign up, you will get a free $10 worth of Bitcoin if you spend $100 or more.
But you can start small like $20. But Coinbase does take a transaction fee, so keep that in mind.
Remember, you do not have to buy a whole Bitcoin, cryptocurrency allows you to buy parts of a whole coin. Think of it as Dollars and Cents.
Congratulations, you have bought your first Cryptocurrency and you are a proud owner of Bitcoin. You can now keep an eye on the charts for the coming weeks and prepare for a great time to sell your Bitcoin for profit.
Selling Your Bitcoin:
To sell your Bitcoin, all you will need to do is navigate back to the Bitcoin asset page, and instead of selecting the buy panel for Bitcoin, you will want to select Sell. From here you can select the amount of Bitcoin you want to sell.
We advise always checking up on the Bitcoin price, as the price can jump by $1000’s of dollars in a few hours, it is worth making sure you are ready to buy and sell at the perfect moments.
But remember one simple rule. “Buy Low, Sell High – Buy at the lowest point you think it will go and sell at the highest point you think it will be” That is the bare basic to trading.