How to use Coinbase? Full guide for you - Sms-man Blog

How to use Coinbase?

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The cryptocurrency market is once again showing rapid growth. Most recently, the bitcoin exchange rate exceeded 30 thousand dollars. And many investors have once again paid attention to these digital assets.

Unlike traditional financial assets, cryptocurrencies are stored not in banks, but on special wallets. They can be “linked” to a trader’s account on the exchange or simply used to access their digital funds. One of the most popular of them is the Coinbase cryptocurrency wallet.

How to create a wallet in Coinbase?

Coinbase — wallet with integrated cryptocurrency transfer systems, as well as its own trading platform. Here you can buy, sell, send, receive and store various digital assets.

Registration is as simple as possible. You will need to specify:

  • Last name and first name. Preferably real ones-for performing KYC / AML procedures;
  • The email address. A confirmation link will be sent to it, and it will also be used to restore the password;
  • Password. Try to use the most complex one, because the safety of your cryptocurrency assets depends on it.

In the future, you will need to additionally configure the wallet. To begin with, link a phone number to it. If you do not want to use a real phone number, you can get a virtual number for SMS activation on Coinbase for just a few rubles.

In addition, you will need to link a card or bank account. Although Coinbase is one of the oldest cryptocurrency wallets, and it is trustworthy, we strongly recommend that users from Russia and post-Soviet countries use virtual anonymous accounts. After all, our very conservative legislation has not yet decided how to regard cryptocurrency – as assets, savings, business or a way to finance illegal actions.

After that, all the tools of the Coinbase cryptocurrency wallet will be available to you.

The main functionality of the Coinbase wallet

All shortcuts of key operations are conveniently displayed on the main panel of the cabinet. In particular, the following are available:

  • Dashboard. A board with information about the exchange rate, the status of your wallets and accounts, as well as key news from the world of digital assets.
  • Buy/Sell. A tool for buying and selling cryptocurrencies. Here you can buy digital assets, exchange them (for example, bitcoin for ether or vice versa) and, of course, sell them with the withdrawal of funds to your account.
  • Send. A translation tool. From here, you can send funds to any other owner of a digital wallet by number. By the way, Coinbase offers minimal commissions and accelerated confirmation, so many hours of transaction verification is not required.
  • Accounts. Information about your accounts. Here you can also open a wallet in a new cryptocurrency.
  • Tools. Various tools for exchanging with bank accounts and verifying the user.
  • Settings. Account settings. Through this menu, the standard user parameters are changed – password, avatar, nickname, and so on.

Despite the fact that Coinbase does not officially work in Russia and post-Soviet countries, a VPN is not needed to access the site. Mobile apps for iOS and Android also retain full functionality. The only “but” is that the entire interface of the site and clients on smartphones is in English.

What Else Can a Second Phone Number Do for You?

  • A virtual phone number can be used to sign up for all accounts on almost all online services like Facebook, Telegram, Instagram, Signal, WeChat, etc and more count countries.
  • Beneficial to boost your business.
  • Beneficial to cut your ratings for calls and messages.
  • Helps to hide your private phone number or caller ID to protect your online privacy.

That’s all about to how to setup a Coinbase account.

How to get access to Coinbase from Russia?

Nowadays all resources are blocking access to their apps and websites for Russian people. But recently we made outstanding guide how to change IP address easily.

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About the Author: Daniil Parkinson

My mission is to improve user experience in SMS-Man. I like to write articles which help SMS-Man customers to use our service fluently
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