Coinbase is one of the secured and go-to options as far as buying and selling of bitcoins is concerned. This guide is all about how can you buy and sell bitcoins. Read below to know more.
How to buy bitcoins on Coinbase?
Buying a bitcoin is easy especially if you know how it feels like to own one. Follow the steps given below to buy your bitcoin.
- Creating an account– You have to start by creating an account on coinbase.com. Enter your details like name, email address, and password to complete the sign-up process.
- Add a payment method– Once you complete the first step, you need to add a payment method. As a first-time user, you can tap on the ‘trade’ option which you can find on the top-right side of the app or the website. This gives you the flexibility to choose what you want to buy and the payment method that you wish to use for the same.
- Confirm the details– Once you have set up the payment, click on preview purchase. Check all the details that you have given i.e. the bitcoin which you want to buy and the payment method. Complete the process by clicking the ‘Buy Now’ option. To buy at the current bitcoin price, you need to be very quick or else it might show that the ‘purchase failed’ due to a change in the exchange rate.
That’s all that you need to do for buying bitcoins from Coinbase. The process is easy. If you want to sell or cash out your bitcoins on Coinbase, then you need to follow the below steps.
- Open the Coinbase app/website, and click on the buy/sell option.
- Select sell.
- Choose the bitcoin that you would like to cash out and enter the amount you want to withdraw.
- Complete the process by clicking on preview sell. This option again allows you to review the details that you have entered. Once reviewed, click on ‘sell now’.
Hence, buying and selling your cryptocurrencies on Coinbase is one of the easiest and user-friendly processes. However, keep in mind that when you initiate a withdrawal, a holding period might be placed but that doesn’t put any limitation on the assets that you wish to sell at the desired market price.