It is difficult to find one single person who has not heard about cryptocurrencies. With the rise of crypto, people are looking for ways to make money with them every day. One way of doing so is by investing in these currencies, but if you didn’t know how, here are some tips.
Table of Contents
1. Signing Up For Coinbase
Signing up for Coinbase is the first step to investing in cryptocurrencies. To sign up, you need to create an account on the website, provide your email address and password. Once you have verified your email account, it is time to link your bank account to Coinbase. There are two ways to do this — by using a connected bank account or connecting an external wallet. Connected bank accounts are faster, but another way is transferring money in or out of Coinbase. As seen at https://howtoreferral.com/, there are referral codes you can find which can reduce the fee. External wallets are not connected to a bank account and can only be used for sending and receiving cryptocurrencies, but they are free.
2. Security Measures
Now that you have signed up for Coinbase, it is time to make sure the website is safe to use. One of the most popular methods for verifying a website is by looking at reviews from other users, but if you don’t know anyone who has used Coinbase before, below are some tips on how you can verify that it is safe. One way is to look for SSL certificates. For example, when the URL starts with https instead of http means it has been encrypted and shows that it’s a secure site. Also, look out for locked padlocks or green bars next to the URL — these mean your information will be secure while being transmitted over the internet. There are also search engines that provide reports about whether a website has been hacked in the past, but there are multiple websites that provide this information, so do research beforehand!
3. Get Acquainted With Coinbase
A great way to familiarize yourself with Coinbase is by using the website itself before you start investing in cryptocurrencies. This is great for when you are ready, but there’s also a ton of tutorials on YouTube or other websites that can help you learn about how everything works. This can be anything from how to log in, how to send and receive money, or just general information about the website. One of the most common tasks is buying cryptocurrencies. Coinbase allows users not only to buy existing cryptos but also purchase new ones — which you can then sell once their value increases! Now that you know what Coinbase is and how it works, it’s time to get down to business.
4. Buying Cryptocurrency
The moment you have been waiting for — buying that modern coin! There are multiple ways on how to do this — using fiat money or using another cryptocurrency. Using fiat money is more common since it has a wider reach and allows people of all nations an equal chance at making some profits. This means converting money from your bank account into crypto through services. You can then sell that cryptocurrency at a higher price for fiat money. One downside to this is that the fees are higher, however, if you do not want to go through the whole process of getting and selling some new crypto, this will do!
A great way to familiarize yourself with Coinbase is by using the website itself before you start investing in cryptocurrencies. This is great for when you are ready, but there’s also a ton of tutorials on YouTube or other websites that can help you learn about how everything works. Learn as much as you can and try to invest to see for yourself. Good luck!
