How to Buy Bitcoin on Coinbase

How to Buy Bitcoin on Coinbase

If you know a little bit about Bitcoin, you may have already heard about Coinbase, one of the premier cryptocurrency exchanges in the world.

Coinbase is a US-based digital exchange known for its ease of use and compliance with the laws and regulations of the countries it operates in. In a sea of wild and often irregulated crypto exchanges, it remains a beacon of stability and thus is often recommended to beginner traders as a trustworthy option. 

If you want to start your own crypto journey to buy some BTC, Coinbase is a logical choice. In this guide, we’ll explain how to buy Bitcoin on Coinbase with step-by-step instructions.

A Step-By-Step Guide on How to Buy Bitcoin on Coinbase

1. Register an Account

First things first, use our link to go to Coinbase’s official website and open an exchange account.

You must sign up with your official name. Since Coinbase has a strict KYC policy, it’s important that your personal details match your ID when you first sign up.

Once you fill out the form, click  “Create Account.” Coinbase will email a verification link to you. Click on the link to verify your email address. 

Coinbase also requires you to confirm your mobile number to sign in to your account. Enter your digits when prompted, and use the SMS code you receive to log in.

2. Verify Your Account

Identity verification is a must on Coinbase. Thankfully, it’s a straightforward process. Simply click the “Verify your ID” button that pops up when you first log in.

If you accidentally closed the verification pop-up warning, don’t worry. Simply clicking the “Buy & Sell” tab highlighted in blue will trigger another verification request. You can also click on your profile icon and navigate to the “Verification” tab to manually start the process.

Coinbase gives you a detailed questionnaire to fill out. Make sure you fill out the form with accurate information. Inaccurate or missing information may cause delays to your verification approval.  

Once you fill out the form, upload an official photo ID, such as a passport page or a driver’s license to the platform. Verification usually takes a few minutes, and you will be able to deposit funds and buy BTC once it’s done.

3. Deposit Funds/Crypto

The next step is to add a payment method to your Coinbase account. Click on your profile icon (upper right corner) to go to your account settings.

Click on the “Payment Methods” tab.

Now hit the “Add a payment method” button to see your options.

Payment methods vary by country. US-based users can easily connect their US bank account to the platform to make fiat currency deposits. Europe-based users can use SEPA and wire transfers as well.

The most common payment methods almost anyone can use are debit and credit cards. Purchasing digital assets with debit and credit cards is super easy and very fast. Unfortunately, one downside is the added fees for payment processing. Usually, Coinbase charges a 3-5% fee for all credit and debit coin purchases.

Click on the method you want to use. If you select bank transfers, follow the instructions on the screen to link your bank account to your Coinbase account.

You can also select the credit/debit card option and follow the instructions below.

First, enter your name as written on the card. Please note that the name on the card must match your official name as written on your ID. Enter the card number, expiration date, and your CVC. CVC is usually a three-digit code written on the back of your card. Finally, enter your postal code and hit the “Add Card” button.

4. Navigate to the Relevant Screen to Buy

Go to your homepage and click the “Buy & Sell” button highlighted in blue. This will open up the one-click buy form.

Simply enter the amount you want to spend. The buy widget is set to BTC as default, but you can change it to other digital assets by clicking the arrow next to it.

Click the “Pay With” box and choose your credit or debit card as the payment method.

If you look under the amount you have entered, you will notice another box that says “One-time purchase.” Again, it’s the default, but you can change it so that Coinbase makes automatic recurring purchases for you every week or every month. 

After you fill out the form, click “Preview Buy.”

Coinbase will display the amount of BTC you will receive, as well as any fees you are charged with. If you are happy with your order, you can click “Buy Now” to finish it up.