Coinbase is a US (San Francisco, CA) based digital currency broker that was founded by Brian Armstrong in 2012. They have raised over $2 million from Venture Capital firms, such as Andreesen Horowitz. Coinbase allows you to link your debit card, credit card, and/or bank account to their website and purchase Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). It is a cryptocurrency broker, but also operates an exchange for these coins, called GDAX (Global Digital Asset Exchange).
Creating a Coinbase Account
- Visit www.coinbase.com and click “Sign Up” in the top right hand corner:
- Enter your Name, Password, and Location, verify you’re “not a robot,” agree to the terms of service, and click “Create Account”:
- You will need to then check the email you signed up with for a message from them and a link to verify your account:
- After you click on the link in your email, it will ask you to confirm your location and enter your phone number. This will set up Two-Factor Authentication (2FA) via text message.
- You will receive a text message to your phone with a code to enter to verify your number. Check your text messages and enter that code:
- Once you enter the correct code, you will land on your logged in dashboard:
- Navigate to the “Buy/Sell” tab of your dashboard to set up your preferred method of payment:
- Once set up, you will be able to purchase the coin of your choice:
Sending Bitcoin to make your payment
- Once logged in to Coinbase, navigate to the “Accounts” tab and click the “Send” button of the coin you are looking to send:
- Then enter the address that you want to send the coins to and the amount you want to send (invoice amount in your mail).
- Click “Continue” to confirm the transaction with your 2 Factor Authentication (2FA):
- The transaction will then be confirmed by Coinbase (it may take some time for it to be confirmed on the Blockchain and be received on the other end).