Coinbase: The best platform to invest in cryptocurrencies

Coinbase is undoubtedly the best platform for beginners to easily and safely invest in cryptocurrencies. In this article, we will explain to you step by step how to invest in cryptocurrencies using Coinbase.

Why Use Coinbase

Without a doubt, the platform I recommend for investing in cryptocurrencies for beginners is Coinbase.*

*[IMPORTANT: If you use this link to open your account with Coinbase, you will receive a welcome gift of €8 on your first investment (for a minimum amount of €86)].

Today, a large number of cryptocurrencies can be bought and sold through Coinbase, including  Bitcoin, Ethereum, Cardano, Tether, Solana, Polkadot, Dogecoin and many more . More parts are expected to be added in the weeks and months to come.

The main reasons justifying this choice are:

• Reliability – In addition to being a listed company (NASDAQ: COIN), which is always a good sign, behind this platform are hiding well-known institutional investors. This is very important because in the past there have been Bitcoin purchase scams (one of the most notorious was that of  Mt.Gox  but there have been others recently also very notorious) and, therefore, we only want to invest via proven and recognized platforms. Moreover, it counts around 70 million users and the quarterly traded volume is $462 million.
• Simplicity : This is probably the easiest platform of all to invest in cryptocurrencies. This is important because real beginners in cryptocurrency investing will quickly find themselves lost if they use other more complex platforms.
• Fast : you can invest both with a credit card and via a SEPA transfer (normal). Either way, you can start trading within 1-2 days of opening your account (in some cases even less time), which is much faster than many other platforms that take almost a week ( if not, more).).
• It has an integrated digital wallet : it makes the investment cheaper because you don't need to buy a separate wallet. However, we still recommend that you buy it to be 100% sure that if Coinbase suffers a cyber attack, your coins won't disappear. Our recommendation is the Ledger Nano S.

The only downside of Coinbase compared to other platforms is that  its commissions are higher than those of other platforms . Currently, they charge 1,5% of all transactions, while other platforms charge around 0,5-1%. However, I personally think that the reliability of the platform and the fact that it has an integrated wallet justifies the difference in commission. Also, keep in mind that cryptocurrencies are highly volatile, so a 1,5% commission is potentially irrelevant to the expected profit.

In addition, to counter this small inconvenience, if you open your Coinbase account via this link You receive a welcome gift of $10 in Bitcoin as soon as you invest a minimum of $100 (or its equivalent in euros) , which will allow you to offset the commissions of your first investment.

In short, the advantages of investing in Coinbase far outweigh its disadvantages, which is why I consider it an excellent platform to buy and sell the main cryptocurrencies of the moment.

Invest in cryptocurrencies via Coinbase step by step

Below I explain, step by step, how to invest in cryptocurrencies through Coinbase.

Step 1. Create an account

The first thing you need to do is create an account, which only takes a few minutes. To do this, click on this link to ensure you receive the welcome gift.

To register you will have to give your name and your e-mail and your identity card. This shouldn't take more than 3-5 minutes.

You may be asked to verify your phone number; It is very important to have two-factor authentication, which makes your Coinbase account even more secure. That said, it's even more secure, so enabling 2FA through an app, such as Google Authenticator, is recommended.

Step 2. Choice of payment method

Next, we need to choose the payment method to add funds to our Coinbase account.

The advantage of credit card compared to bank transfers is that the funds appear directly in our Coinbase account instead of having to wait a few days.

On the other hand, the disadvantage is that the amount we can deposit is generally lower with a credit card (it depends of course on the limit of your card) than with a transfer and, in addition, the commissions will be higher. .

Step 3. Purchasing cryptocurrencies

Once our Coinbase account is already funded, we can start investing in cryptocurrencies (you can invest in dozens of cryptocurrencies, including Bitcoin, Ethereum, Cardano, Tether, Solana, Polkadot, Dogecoin and many more ).

To do this, we go to the purchase tab and indicate the amount in our currency that we want to invest in the selected cryptocurrency. Coinbase's price and fees are clearly stated at the time of the order form.

For example, if we want to invest €100 in Ethereum by credit/debit card, we just have to select Ethereum and enter our credit card details (no need to be afraid because the payment is completely secure) . Coinbase will directly show the price of Ethereum at the time of purchase (in this case it was €437 as seen above right), how much Ethereum we can buy with our €100 ( 0,21995768 ETH) and the Coinbase commission (€3,84). Just click on “buy Ethereum instantly” and the transaction will be completed.

And There you go, buying cryptocurrencies is as simple as that .

Once you want to close your position, simply reverse the process by selling your crypto the same way you bought it. Again, it's very simple.

Step 4. Transfer cryptocurrencies to a key offline (optional but highly recommended)

As I said before, Coinbase is a serious and reputable company that complies with all applicable US laws (it is a company based in San Francisco) and has the support of many very important financial players and investors. This makes it a priori a very secure platform.

But as if that weren't enough, they also keep 98% of their clients' cryptocurrency funds in physical devices not connected to the internet and which they keep in safe deposit boxes around the world.

Therefore, it is possible to leave our cryptocurrencies in the Coinbase online wallet quite calmly. However, to be 100% sure that no one is stealing or hacking our Coinbase account, I recommends adding another layer of security by using a wallet that only you will have access to .

My recommendation in this regard is to use the wallet  Ledger Nano S. This is the key I've been using for years and besides being safe it's very easy to use. this article , I explain in detail how to use this wallet to protect your cryptocurrencies in an easy way.

conclusion

In this article, we have seen how to invest in cryptocurrencies in an easy but safe way using Coinbase et by storing our parts in a Ledger Nano S. That said, it is important to point out that this is a very volatile investment, where you can make or lose a lot of money very quickly. Therefore, I recommend that if you decide to invest in cryptocurrencies, you invest no more than the money you can afford to lose and also learn to control your emotions.

If you have any questions about how to invest in cryptocurrencies via Coinbase or if you want to share your experience with this investment with other readers, feel free to leave a comment below.

And if you think this article may be of interest to other people around you, do not hesitate to share it with them because it is an unprecedented investment that few people know about yet. Thank you very much in advance!