What is Bitcoin?Bitcoin refers to digital money utilized for instant and secure transfer of value in any part of the world. It is neither issued nor controlled by the government or the bank. Instead, it is an open network often managed by its users. Bitcoin is an advancement in the current methods of methods of payment. Coinbase makes it stress-free to convert local currency into bitcoin and out of bitcoin.
How to purchase bitcoin with CoinbaseBuying bitcoin is straightforward and fast. The following steps should be observed to be able to buy bitcoin with Coinbase
Sign up for a Coinbase accountSigning up for a Coinbase account will enable you to gain access to a secure location for the storage of your bitcoin. This will also allow you to access easy methods of payment for the conversion of your local currency out of and into bitcoin.
Connecting your bank accountAt this juncture, you will have to fill up some verification steps before using the account. Upon the completion of the audit steps, you can begin a purchase.
Buying bitcoinAfter opening your very first procurement, Coinbase will complete your purchase and make a delivery of your bitcoin. The price of bitcoins is prone to fluctuations over time. Nevertheless, before you buy, Coinbase shows you the current exchange rate. It is important to note that the price of bitcoin fluctuates depending on how many people want to sell or buy it at a given time. The value of the bitcoin is not pegged to the value of other currencies.
Why buy bitcoin with coinbaseCoinbase allows for instant exchange. This, therefore, enables the users to sell and buy bitcoin instantly. This is important as it allows for convenience. Upon the execution of the purchase order, the money is credited to or withdrawn from the local currency wallet of the user. The faster Coinbase services are also attributed to the fact that the debit and credit cards currently in use do not need the user to pre-fund their coinbase accounts with a bank transfer.
The instant buying of bitcoin by Coinbase is available in many countries worldwide. The users from approximately thirty countries can purchase bitcoin instantly.
Coinbase safeguards its users against price volatility of the digital currency. The users with either pound, dollar, or euro Coinbase accounts are able to buy bitcoin directly from the website of the company.
Instant Coinbase services are relatively cheap. Coinbase charges a convenience fee of 3%