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Prerequisites for Creating an Account on Coinbase

Prerequisites for Creating an Account on Coinbase

What Is Coinbase?

Coinbase is a leading cryptocurrency exchange founded in June 2012 to serve as a broker exchange for seamless buying, selling, depositing, and withdrawing crypto coins. The exchange has its headquarters in San Francisco, California. The Coinbase platform has recently started an initiative to allow its users to download free wallets from the platform’s website to help users save the hassle of storing their crypto coins. They can easily download and install a Coinbase wallet to keep their coins until they are ready to be sold in the crypto market. Coinbase wallet supports leading cryptocurrencies like Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Ethereum Classic, XRP, Dogecoin, Stellar Lumens, along with all ERC-20 tokens like USDC and DAI.

What Do You Need to Create an Account on Coinbase?

Anyone with a robust internet connection and a smartphone can create an account on Coinbase. But before registering on any crypto exchange, it is recommended to have a basic knowledge of how the crypto market works.

Points to Remember Before Creating an Account on Coinbase

Before making an account on Coinbase, the traders must comply with the following requirements:

  • He should be at least 18 years of age and possess valid government-issued photo ID proof.
  • Should have a robust internet connection and a smartphone (or desktop) connected to the internet.
  • Should be having an active email id and phone number wherein various notifications will be sent.
  • The latest browser version or the updated Coinbase app to access the platform.

How to Create an Account on Coinbase?

Account creation on the Coinbase platform is relatively easy, and users at all levels of experience can do it at ease by following some simple steps.

  1. Registration

This is the first step of account creation wherein the users need to visit the official webpage of the Coinbase platform, www.coinbase.com, through any web browsers. After that, they need to click on the ‘Get Started’ tab on the right-hand corner of the page and be directed to a form where they need to fill in some personal details like full name, email address, and password. Tick on the box ‘Create Account’ after checking the box for accepting the terms and conditions of the exchange.

  1. Verification of Phone Number and Email

The next step is to open your mailbox and click on the verification mail sent in by Coinbase. There will be a link given, clicking on which the users would be directed to the Coinbase home page to log in with the credentials entered by them while registering. After this, the users will be directed to a page where they need to enter their country code and phone number. Clicking on the ‘Send Code’ tab will send the 7-digit code to the registered phone number, which is quite similar to an OTP that needs to be entered again on the page to activate the registered phone number.

  1. Verification of Identity

To curb money laundering, Coinbase demands KYC requirements from its customers. They need to fill in some more personal details on the platform and submit a supporting government-issued document later on. Customers also need to answer some questions on the Coinbase platform, like their purpose of using Coinbase, their sources of income, whether they are currently employed or not, and their SSN (social security number) in some cases. Clicking on the “Continue” tab finishes the process and then requires the users to add on the supporting documents that will be automatically linked with the registration form for each.

  1. Link a Payment Method and Start Trading

After all the compliances are made, users can now choose any of the payment methods available for their country and start trading on the Coinbase platform.  

Is Creating an Account on Coinbase Pro Different?

No, suppose an individual already has a Coinbase account. In that case, he can use the same log-in credentials to Sign in to the Coinbase Pro account, and his Coinbase account will be automatically linked to the Coinbase Pro account.

Earn Free Money on Coinbase

Coinbase rewards its users (both existing and new) with over $121 to accomplish specific tasks on the platform, like watching educational videos about different cryptocurrencies or completing a quiz. This is like an incentive to encourage users to educate themselves about how the platform works and earn some crypto coins.

Conclusion

Coinbase is a safe platform, you can check here https://www.cryptonewsz.com/cryptocurrency-exchange/coinbase-review/ for detailed review about the platform, wherein traders can execute crypto trade peacefully. The platform lets users secure their accounts with two-factor authentication, and the platform itself is SSL encrypted to provide for better security.

About author

James Hoskins has been journalists from last 5 years and covers finance and business news. Recently, He joined FinanceBottom team as a journalist. He graduated in journalism and from the beginning of his career, he loves to cover financial news stories.
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