Friday, 24 September 2021

Coinbase Tutorial: Beginners Guide on How to Buy Bitcoin 💰

Coinbase Tutorial: Beginners Guide on How to Buy Bitcoin 💰
31 Jul

hi today I'm going to be taking through the easiest way to buy cryptocurrency the first thing you to do is create a crypto base wallet which is basically used to buy and send crypto currencies such as Bitcoin aetherium and litecoin being based in the UK to the main sites are coin based and blockchain I'll run through the coin by site first so coin base has been around for a while and since 2012 they've got what ten point four million customers at the moment across 32 different countries and I'm going to be signing up using an input that I've received from a friend so what that means is that obviously ten dollars worth of Bitcoin when I deposit $100 into my account which I'm going to be doing this day now it's worth being aware that these sites charge around a three percent fee so with these implants to what you're actually doing is getting and kind of your first transaction for free and so once you've signed up I mean uploaded your ID and gone through the verification process you'll be presented with the dashboard the dashboard shows you is the Bitcoin price at the moment how it's kind of fluctuated through different time periods so in the last one hour in the last day in the last week month year and all what I'll also do in here is show you things in terms of your portfolio but what I'm going to do is take us through these settings within the site so in here you can put it in and things to do with your profile so you can enable a nickname in here you can put in your email address in terms of your preferences you can put in here what your local currency is and you can put in your time zone under security you can obviously verify your telephone numbers and you can also enable something called two-factor authentication what this really provides you with is an extra level of security and when you're logging in which is really helpful with these kind of sites then with your payment methods you've got different types of payment methods that you can add in here so you can either add a bank account or you can add a credit or debit card in here so with the bank account the only thing that I – and kind of make you aware with is that if you actually create a bank transfer sometimes it creates it as an international payment and under planning on your bank you might get charged 25 pounds for this the transfers also take four to five days and the other way is by credit or debit card which is a lot easier but they do take a three point nine nine percent fee now I'm currently looking at other ways to work around this and with another system so as soon as I work this out I'll be able to let you know so obviously you put in your payment methods in there as well your limits which shows you what you'll buy and your sell limits are and you this will show you in terms of your wallet and in terms of your credit or debit card and you can increase your limits by verifying you know further things like identification and things like that if I now take us back to our dashboard we're now ready to barley our cryptocurrency so I'm going to click on to buy sell and in here I can now select what type of cryptocurrency I'd like to purchase so whether that be Bitcoin etherium or litecoin now in coinbase allows us to purchase like coin as well where as opposed to blockchain you're unable to purchase like coin so you select which payment methods like so like I said to you earlier you can either choose from your bank transfer our your credit or debit card in this instance I'm going to be doing it via a credit or debit card then you can obviously view what your weekly card limit is and whether or not how much you've got remaining in there and you can type in the amount you'd like to purchase so you can do that in your own currency so at the moment if I type in a hundred pounds it'll tell me what the conversion is in terms of Bitcoin so it'll tell me that I'm purchasing not point zero three four two and etc in terms of Bitcoin so it's doing that conversion for me and then on the right hand side here what I have is have a confirmation of kind of almost like a breakdown of what that transaction is so it tells me how much I'm purchasing is telling me what my payment method is how soon it's going to be available where it's depositing it to and it also tells me that fee in here as well and then what some very to purchase literally just click on to buy keep Bitcoin instantly now asks you to authorize your transaction and confirm your buyers so again it's just giving you that breakdown of confirmation of that transaction and you just confirm that by the buy confirmation may take a couple of minutes to process if we then go into the account section which is essentially where all your wallets are kept you'll then see that I have a Bitcoin wallet and in that Bitcoin wallet is the amount that I've and just purchased so if I want to send that across to a certain recipient I would enter into the recipient address into this section here it's confirming that I'm withdrawing it from my Bitcoin wallet and then you can type in the amount now very similar to when you were purchasing your Bitcoin and you can put in your specific currency and in my case is GBP or you can put the amount of Bitcoin that you're actually wanting to send so in here if I type in 250 or then do the conversion for me into Bitcoin I can then put any specific notes that I want to I can also view how much I'm going to be charged my network fee for sending this transaction across as well I hope you found my run-through of coinbase informative if you have any questions please feel free to send me a message in the comments if you like this video please hit like and to be notified in future videos please subscribe also if you'd like to sign up to coinbase and get $10 worth of free Bitcoin please use my referral link below thanks

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