Exchanges are the starting point for any newcomer to the cryptocurrency world. An exare simply online marketplaces which connect buyers and sellers for the purpose of buying and selling cryptocurrencies. Trading on crypto exchanges is very simple. To illustrate, this tutorial will introduce readers to registering an account and trading Bitcoin with Coinbase–one of the most popular exchanges today. Coinbase is a perfect exchange for new traders because it provides a very clean user interface that makes navigating trades extremely easy. In addition, Coinbase offers a phenomenal mobile platform that allows users to manage their accounts with ease.
Coinbase also offers a reward program which gifts $10 worth of free Bitcoin to new users who initiate a buy order of $100 or more on the exchange. To qualify for this reward, simply click on the image in order to begin registering your account.
Use this tutorial in conjunction with the link in order to navigate the setup of your Coinbase account.
Register on the Exchange
This is very easy to do and will only take a couple of minutes to complete. When you click on the link above, you should be greeted with an invitation from Cryptocoin Trader which looks similar to the image on the left. Fill out the necessary information and submit the form in order to complete registration. A verification email will be sent to your designated email address. Follow the instructions in the email in order to verify your account.
Coinbase will also provide you the ability to enable two-factor authentication by linking a cellular device to your account. All Coinbase users should take advantage of this extra means of security.
Transfer Currency Into the Exchange
After we register and verify our user account, it is necessary to transfer currency into the exchange in order to begin trading for cryptocurrency gambling. Coinbase allows traders two primary options when purchasing cryptocurrencies. Users can choose to either link a bank account or they can choose to use a credit card. While it is possible to buy Bitcoin quickly and safely with a credit card, it is a good idea to link a bank account to the exchange. Not only will you be able to purchase larger amounts of Bitcoin, you will also be able to sell your Bitcoin at a later date for cash. Unfortunately you will have to wait until Coinbase verifies your bank account before you may begin buying Bitcoin–a process that can take as long as three weeks.
Begin Trading Cryptocurrencies
Now you are ready to begin trading cryptocurrencies! After you finish registering your payment method, you will be presented with a screen similar to the one pictured on the left. To buy a cryptocurrency, simply pick the coin that you would like to buy. Then, select your payment method and identify how much of that coin you would like to purchase. By clicking the ‘Buy’ button, you will be able to complete your purchase. Your Bitcoin will soon appear in your Bitcoin wallet.
The process for selling Bitcoin is very similar. Simply choose the ‘Sell’ option and fill in the required information.
Bitcoins are made as a compensation for a cycle known as mining. They can be traded for different monetary standards, items, and services. Bitcoin has been adulated and censured. Pundits noticed its
utilization in illicit exchanges, the huge measure of power utilized by diggers, value instability, and robberies from trades. A few financial analysts, including a few Nobel laureates, have portrayed it as a theoretical air pocket.