Trading Bitcoin in Coinbase
Coinbase is one of the most popular cryptocurrency exchanges in the world, with millions of users trading a variety of digital assets, including Bitcoin. In this article, we will provide you with a step-by-step guide on how to trade Bitcoin in Coinbase.
Step 1: Create an Account
The first step in trading Bitcoin in Coinbase is to create an account. Go to the Coinbase website and click on the “Get started” button. You will be asked to enter your name, email address, and a password. Once you have entered this information, click on the “Create account” button.
Step 2: Verify Your Identity
After creating an account, you will need to verify your identity. This is a mandatory step for all Coinbase users. You can verify your identity by providing a government-issued ID, such as a passport or driver’s license. You will also need to provide your address and phone number.
Step 3: Add Funds
Once you have verified your identity, you can add funds to your Coinbase account. You can do this by linking a bank account or a credit/debit card. To link a bank account, click on the “Add a payment method” button and select “Bank account.” Follow the instructions to link your bank account. To link a credit/debit card, click on the “Add a payment method” button and select “Credit/debit card.” Follow the instructions to link your card.
Step 4: Buy Bitcoin
Now that you have added funds to your Coinbase account, you can buy Bitcoin. To do this, click on the “Buy/Sell” button on the Coinbase dashboard. Select “Bitcoin” from the list of available cryptocurrencies. Enter the amount of Bitcoin you want to buy and the payment method you want to use. Review the transaction details and click on the “Buy Bitcoin” button.
Step 5: Sell Bitcoin
Once you have bought Bitcoin, you can sell it at any time. To do this, click on the “Buy/Sell” button on the Coinbase dashboard. Select “Bitcoin” from the list of available cryptocurrencies. Enter the amount of Bitcoin you want to sell and the payment method you want to use. Review the transaction details and click on the “Sell Bitcoin” button.
Step 6: Set Up a Coinbase Pro Account
If you want to trade Bitcoin more actively, you should set up a Coinbase Pro account. Coinbase Pro is the professional trading platform of Coinbase and offers advanced trading tools and features. To set up a Coinbase Pro account, go to the Coinbase Pro website and click on the “Get started” button. Follow the instructions to create an account.
Step 7: Deposit Funds into Coinbase Pro
After creating a Coinbase Pro account, you need to deposit funds into it. To do this, click on the “Deposit” button on the Coinbase Pro dashboard. Select the currency you want to deposit and the payment method you want to use. Follow the instructions to complete the deposit.
Step 8: Place a Buy Order
To place a buy order on Coinbase Pro, click on the “Trade” button on the dashboard. Select the trading pair you want to trade (e.g., BTC/USD). Enter the amount of Bitcoin you want to buy and the price you want to pay. Review the order details and click on the “Buy” button.
Step 9: Place a Sell Order
To place a sell order on Coinbase Pro, click on the “Trade” button on the dashboard. Select the trading pair you want to trade (e.g., BTC/USD). Enter the amount of Bitcoin you want to sell and the price you want to receive. Review the order details and click on the “Sell” button.
Conclusion
Trading Bitcoin in Coinbase is easy and straightforward. By following the steps outlined in this article, you can buy and sell Bitcoin on Coinbase and Coinbase Pro. Always remember to do your own research and invest only what you can afford to lose. Happy trading!