Coinbase Opinion 2023 & Tuto | Reliable platform or Scam?

What is Coinbase?

Coinbase is the go-to platform for cryptocurrency neophytes. If you are new to the world of cryptocurrencies, then this article is made for you. The latter allows you to buy, sell and trade cryptocurrencies, and has been doing so since 2012. This exchange stands out from other exchange platforms due to its ease of access and usability. However, it also has the highest fees in the market. If you want to save on trading fees, we refer you to our articles on FTX or Binance. Coinbase is nonetheless the leading exchange platform, with 43 million users in December 2020 and an IPO on NASDAQ in April 2021. The platform offers an entire ecosystem, especially with the help of Coinbase Pro or Coinbase commerce, allowing them to approach professionals or pay easily in cryptocurrency.

How to register on Coinbase?

To register on Coinbase, we invite you to click here. You’ll get 8 € of free bitcoins and this amount can quickly increase. To do so, just fill in the information on the form (first name, last name, e-mail and password).

Once this step has been completed, you will need to perform identity verification in accordance with the platform’s policy and the policy in effect in your country.

Verify your account with your ID (KYC)

After registering, Coinbase will ask you to verify your identity and authenticate yourself with a code received by phone. Then, you will need to choose your country and have your ID ready. Beforehand, fill in all the basic information about yourself. Your identity, your address, as well as a few questions about you and your relation with Coinbase.

Coinbase will then ask you to enter the amount of cryptocurrencies you expect to trade per year as well as your area of activity.

The next step will require you to bring a piece of identification, such as a driving license, passport or ID card. Choose the one you want, knowing that the driver’s license is recommended for its ease of reading. Next, you have to choose how to transmit your document, either through your webcam, if you have one, your phone or directly import the file that you would have already present on your PC.

Once your document is transferred to Coinbase it will take them a couple of minutes to verify your identity, a couple of hours in the worst case. After that, you will have full access to your account.

To register on Coinbase, please click here:

Secure your account on Coinbase (2FA)

To prevent any risk of losing your funds, it is very important to secure your account with a 2FA method. To prevent any risk of losing your funds, it is very important to secure your account with a 2FA method. Also known as “Two Factor Authentication”, this allows you to log-in two different ways to certify that it is really you. To activate your 2FA authentication follow these few steps.

• Step 1: Go to your account settings.

• Step 2: once you’re there, click on the “Security” tab.

• Step 3: in this tab, you’ll find everything necessary to secure your account. We advise you to activate the authentication function. With an authentication app such as Google Authenticator, you’ll be able to connect securely with your phone as well as your PC. All you need to do is download the Google Authenticator app on your mobile phone and follow the configuration instructions on Coinbase.
• Bonus step: it is also possible to secure your user account by SMS using a security key, in addition to your connection via Google Authenticator. However, SMS are not as safe because they may be tapped by a third party. On top of that, needing a security key forces you to always have it with you.

To register on Coinbase, please click here:

How to buy cryptocurrencies on Coinbase

Buy cryptocurrencies by credit card on Coinbase.

If you’re just starting out, Coinbase is the perfect place to buy your first crypto and we’ll guide you through a few steps to owning your first Bitcoin or other crypto of your choice.

• Step 1: Go to the “Trade” tab in the main Coinbase interface.

• Step 2: Select the cryptocurrency you want to buy in the top right corner, in our example we will choose Ethereum. Select your payment method. For your first purchase, Coinbase will probably offer you to pay by credit card. This is an expensive payment method because of the platform’s fees, but it is the fastest way to seize an opportunity on the spot, to reserve for small amounts. Finally, decide how much money you want to spend and click on the “Preview Purchase” button. In our example, we want to buy $5 in Ethereum with the money in our Coinbase account.

• Step 3: Preview your transaction by seeing if it is what you want, note the Coinbase fee share and how much of the crypto you wanty you are about to receive based on the current market price. If everything is fine, just click on “Buy Now”. Here is what it should look like for example :

Congratulations, you are now the proud owner of your cryptocurrency. We will now look at how to purchase your cryptocurrency by bank transfer.

To register on Coinbase, please click here:

Buy cryptocurrencies by bank transfer on Coinbase.

In order to pay your cryptocurrencies slightly cheaper on Coinbase you will need to use a bank transfer. This method slows down your purchase because of bank delays, but we will guide you step by step to get there smoothly.

• Step 1: Go to the “Assets” tab in the main Coinbase interface.

• Step 2: Click on the line that corresponds to the currency you want to transfer. In our example we will send euros to our Coinbase account.

• Step 3: Coinbase then provides to you all the required information that you need to enter when making your transfer. Be careful when entering this information so that you do not send your funds to the wrong bank account.
  Note that the name on the bank account must be the same as the name on your Coinbase account for regulatory purposes. You will only have to wait a few days and your transfer will arrive on your Coinbase account.

• Step 4 : Now that you have received your funds, go to the “Trade” tab again. This time we will replicate the purchase method we used for the credit card, but change the payment method. Click on the “Pay with” line and choose “Euro Wallet” (or any other FIAT currency), the transaction fee will then be lower.

• Step 5: Follow the same purchase process as described for the credit card payment, enter the desired amount and the desired cryptocurrency. Preview your purchase and your fees, if you are satisfied, then you can validate the transaction.

If you’ve followed this guide so far, you know everything there is to know about buying crypto currency with Coinbase. Now we’re going to explain how to trade them, and then sell them.

To register on Coinbase, please click here:

How to trade cryptocurrencies on Coinbase?

Sometimes it can be very interesting to convert your cryptocurrencies from one currency to another, in whole or in part. If you want to learn how to do this you just have to follow these couple of steps.

Step 1: Go to the “Trade” tab in the main interface again.

• Step 2: This time you will have to go to the “Convert” tab on the top right.

• Step 3: Choose your two conversion crypto, the first one chosen, the top one, will become the bottom one. Also indicate the amount you wish to convert, this amount is expressed in the currency you have chosen. This is what the transaction should look like:

• Step 4: Once you have chosen your cryptocurrencies to convert as well as the amount, click on “Convert now”. Check that the amounts are correct during the previsualization and then validate your transaction. Wait for the transaction to complete and you will be able to find your newly converted crypto currency in your assets.

Perfect! You now know how to swap your cryptocurrencies with each other. In the next part, we will see together how to sell it.

To register on Coinbase, please click here:

How to sell your cryptocurrencies on Coinbase?

Once you own your crypto on Coinbase, you may be willing to sell them for fiat currencies whenever you want. It’s very simple and differs not much from buying, but we’ll guide you through it so you don’t make any mistakes.

• Step 1: Go once again to the “Trade” tab in the Coinbase interface.

• Step 2: To sell your cryptocurrencies, you will need to click on the “Sell” tab at the top right of the interface.

• Step 3: Then select the crypto currency you want to sell and the amount in euro (or other). This amount will be automatically transferred to our Coinbase wallet.

• Step 4: Verify that the transaction is successful and then click the “Sell Bitcoin” button. You will then find the amount of euro due to your sale in your Coinbase wallet.

Please be aware that when you sell your cryptocurrencies for USD (dollars) or EUR (euros), depending on your country of tax residence, it will probably be necessary to pay taxes on the capital gain, and this on every transaction. It may be wiser to convert your crypto currencies to USDT (Tether) or USDC (USD Coin) because it’s another cryptocurrency, and you will thus not be taxed on your sale.

Well, nothing escapes you anymore on the sale of cryptocurrency, but be sure to take into account the taxation. Now we just have to see together how to withdraw your money to your bank account.

To register on Coinbase, please click here:

How to withdraw money on Coinbase?

It is possible to withdraw your money from Coinbase to your bank account at any time. However, you must have already sold your crypto against a fiat currency. We will show you how to do this so you don’t get lost.

• Step 1: To withdraw your money you will need to go to the “Asset” tab of your Coinbase account.

• Step 2: click on the line that interests you, in our example it’s “euro”, to allow you to withdraw your euros.

• Step 3: Once you are on the interface of your euros, check that you are on the “Cash out” part on the right. You will see your balance and you can choose how much you want to withdraw or click directly on the button “cash out all” to withdraw everything.

• Step 4: Choose your cash out method, you have the choice between instant withdrawal by card or standard withdrawal by wire transfer. Instant withdrawal will cost you an extra fee, but is best if you need your money fast. Standard withdrawal is slower, on average 48 hours for a transfer, but the fees are lower.
  If you choose instant withdrawal you will need to fill in your debit card, if you choose standard withdrawal you will need to fill in your bank account.

• Step 5: Once you have chosen your withdrawal method and filled it in, i.e. by credit card, bank account or PayPal account, you can click on “Continue”, review the withdrawal preview to make sure the amounts are correct. If you agree, click on “Withdraw Now”. This is what it should look like:

Please be aware that when you sell your cryptocurrencies for USD (dollars) or EUR (euros), depending on your country of tax residence, it will probably be necessary to pay taxes on the capital gain, and this on every transaction. It may be wiser to convert your crypto currencies to USDT (Tether) or USDC (USD Coin) because it’s another cryptocurrency, and you will thus not be taxed on your sale.

And here you are with the potential to be the new “king of the hill” on Coinbase. However, don’t forget to be careful. Make sure you follow the rule of not investing what you can’t afford to lose in order to avoid being in trouble.

To register on Coinbase, please click here:

FAQ about Coinbase

Is Coinbase safe?
Coinbase appears to be one of the oldest platforms in the cryptocurrency ecosystem, as it has been around for almost 10 years. Kraken thus represents one of the platforms with the most experience in the field of security.
Regarding leaving your cryptos on the platform: zero risk does not exist.
If you are not trading and want to protect your cryptocurrencies from being hacked on Kraken or on your account, you can remove them from the platform and store them on a hardware wallet like Ledger. Not your keys, not your coins.

Do I have to be over 18 to create an account on Kraken?
Yes, to register with Kraken, you must be of legal age as stated in the Terms of Service. So, if you are under 18, do not attempt to sign up for Kraken, because at the time of account verification, you will get caught. It is essential that you have an identity document in your name that proves you are of age.

Who is behind Coinbase?
Coinbase is a big company: it is run by a team of seven people who know the crypto ecosystem at their fingertips.

These are:
– Brian Armstrong: Co-Founder & Chief Executive Officer
– Emilie Choi: President & Chief Operating Officer
– Surojit Chatterjee: Chief Product Officer
– Alesia Haas: Chief Financial Officer
– L.J. Brock: Chief People Officer
– Paul Grewal: Chief Legal Officer
– Manish Gupta: EVP of Engineering

How to contact Coinbase?
If you have any problems, Coinbase has a bank of information you can use by clicking here. In case your problem requires you to contact them, you can do so by clicking right here.

Score: 4.5/5 with over 162 votes