What is Coinbase? How to Use Coinbase?

Coinbase is one of the largest cryptocurrency trading platforms where you can buy and sell digital currencies like Bitcoin or Ethereum. Bitcoin was created in 2009 and is considered the forefather of cryptocurrencies.

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With the increased Bitcoin price, Coinbase established itself as the second largest crypto exchange in the world. In the following article we tell you everything you need to know about the Coinbase platform.

What Exactly is Coinbase?

Coinbase as a trading platform is similar to stock exchanges – only that cryptocurrencies such as Bitcoin are traded instead of stocks. In addition to its function as a crypto exchange, Coinbase also offers a so-called softwallet for storing cryptocurrencies. A softwallet is a digital wallet in which you can store your access keys to your holdings of a cryptocurrency as securely as possible. In addition to the most well-known cryptocurrencies such as Bitcoin and Ethereum, you can buy and sell numerous other digital currencies on Coinbase.

Coinbase can be used as a platform on your PC via the web browser or as an app on your smartphone. With Coinbase ProThe exchange offers you an advanced trading environment for experienced traders. There are fees for trading cryptocurrencies through Coinbase. Buying and selling a cryptocurrency is charged by Coinbase.

How does Coinbase Work?

If you want to trade cryptocurrencies through the provider Coinbase, you must first create an account on the trading platform. You must be at least 18 years old and have a valid identification document . You can easily register via the Coinbase website by clicking on the ” Register ” button and then entering your personal data. With the confirmation that you are at least 18 years old, you can then click ” Create an account”. After your person and your legal age have been verified by uploading your ID document, you can already transfer money to your Coinbase account via SEPA transfer or credit card.

On the Coinbase home page, you will find the ” Buy/Sell ” tab at the top. If you click on this, you will be shown numerous cryptocurrencies listed by market capitalization. You can also trade most of these on Coinbase. You can save the cryptocurrencies that interest you as a favorite by clicking on the star symbol. For example, click on ” Bitcoin ” to buy, sell or convert this digital currency to another cryptocurrency.

How to Use Coinbase app?

With the Coinbase app, you can also conveniently trade various cryptocurrencies via your smartphone:

The Coinbase app is regularly updated and easy to use. On the home page of the app you can see your balance at the top and have several buttons to choose from to buy, sell, send to other people or receive cryptocurrencies from other people. You can also see all the currencies that you have saved as favorites under ” Watchlist “. All losses and profits are displayed in detail under ” Values ” so that you always have an overview of your investment.

Final Words: *Always pay attention to the seriousness of the trading platforms and be aware of the high risk of trading in cryptocurrencies.