Coinbase is the largest place to exchange cryptocurrencies. The company was founded in 2012 in San Francisco. Coinbase now has over 20 million customers worldwide. In addition to the platform for crypto trading, there is also the trading platform Coinbase PRO, which is aimed primarily at ambitious traders. Coinbase offers to trade in Bitcoin, Litecoin, Bitcoin Cash and Ethereum and 16 other popular currencies.
Let me show you how to register for Coinbase trading and how to verify your account, which is possibly the trickiest part.
The Registration Process
If you want to start trading on Coinbase, you first have to register on the platform. Customers can choose between two different accounts: individuals or business account.
Traders who register as an individual must provide the following information in the online form: first name, last name, email address and password. They must also confirm that they are not a robot and are at least 18 years old. After this information has been given, the account is opened with a mouse click. You will then receive an email, which they must verify. Then the login can take place.
The Verification Process
Now comes the tricky part. You have to complete the verification of your identity (KYC Process) and add a bank account as a payment method.
First, the phone number is requested. Then you will receive an SMS, which confirms the phone number as correct.
Now there is another step: the verification of your identity. Your Drivers License, Passport or ID card is required. The webcam serves as a means of checking identity. The passport or ID card is held in front of the camera from both sides for confirmation. Inadequate lighting conditions can cause problems when recognizing the photo. An alternative is to use the app. Your ID can be photographed easily using a smartphone or tablet. Sometimes you are also asked to provide a third picture, a picture of yourself holding up a sheet of paper with the words "For Coinbase Trading" and the current date written on it.
When your identity verification is complete, a bank account has to be added to your account. All payments are made via this bank account. In order to also confirm the bank account, a small amount like one cent has to be transferred to the account of Coinbase. Your bank account should run under your real name because only payments that are coming from you personally are accepted. You can also include credit cards and PayPal (only for payouts) as payment methods.
Once your registration and verification are completed, you are going to have full access and are ready to start trading.
Participate in Coinbase Earn
Furthermore, you are also ready to take part in the legendary Coinbase Earn program. The Coinbase Earn programme wants to familiarize the user with the specifics of different cryptocurrencies. Therefore you have watch short educational videos from one to three minutes length about these cryptocurrencies. After you have watched the videos, you have to solve a short and simple quiz about the video that you have just seen. With every correct answer, you get a few dollars for free from that cryptocurrency directly and immediately.
At the moment you can earn up to six different cryptocurrencies:
- Orchid (OXT) 12 $ + 40 $, when you refer 4 friends
- Tezos (XTZ) 6 $
- DAI 6 $
- EOS 10 $ + 40 $, when you refer 4 friends
- Stellar Lumen (XLM) 10 $ +40 $, when you refer 4 friends
- Basic Attention Token (BAT) 10 $, in order to earn them, make sure you have the Brave Browser installed.
I hope I could provide you with some useful information with my post. Please make sure to follow my blog and thank you guys for reading and tipping! If you have any questions or ideas, please leave a comment below.
