Coinbase: Beginner’s Guide to Cryptocurrency Trading
As the world of cryptocurrency grows and develops, it may seem overwhelming to new space. Because there are so many different cryptocurrencies available, each has their own unique qualities and benefits, it can be difficult to know where to start. In this article, we will take a beginner’s approach to learning from the Coinbase program, which is the leading purchase, sale and storage of the online platform.
What is Coinbase?
Coinbase is a digital asset that allows users to buy, sell and store various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and much more. Founded in 2012 by Brian Armstrong and Fred Ehrsam, the company has become one of the largest and most famous cryptocurrency exchange around the world.
How does coinbase work?
Coinbase operates on a block chain -based platform that allows users to buy, sell and transfer cryptocurrencies using their mobile devices or desktop computers. Here is an overview of how it works:
- Register : If you want to start trading with a Coinbase program, users must create an account by providing personal basic information such as name, email address and password.
- Deposit Funds : Users can deposit funds on their Coinbase wallet using different payment methods, including credit cards, bank transfers and cryptocurrency changes such as BitPay.
- Buy/Sell cryptocurrency : Once the funds have been deposited, users can buy or sell encryption technology from the Coinbase platform. They can choose more than 1000 supported cryptocurrencies to buy or replace.
- Change with other users : The Coinbase Trading platform allows users to negotiate directly with other users. This feature is known as “Spot Trading” and enables fast and safe events.
Coinbase features
Coinbase offers a selection of features that make it easy to start a cryptocurrency shop:
- User-friendly user interface : The Coinbase interface is designed to be user-friendly, making it easy to navigate even for beginners.
- A wide range of cryptocurrencies : As mentioned earlier, Coinbase supports over 1000 cryptocurrencies, which gives users a wide range of options to choose from when buying or selling.
- Low Payments : Coinbase payments relatively low payments compared to other cryptocurrency exchange, which makes it an attractive option for new merchants.
- Safety features : Coinbase has implemented solid safety features such as two -time authentication and cold storage to protect user resources.
Coinbase payments
Although coinbase is known for its competitive pricing, there are some charges that users must be aware of:
- Transaction Fees : Coinbase charges a small transaction fee per trade, ranging from 2.99%to 3.49%.
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- Interest on arrested assets : If users have funds for the Coinbase wallet for a long time (known as “cold storage”), Coinbase deserves interest on these funds.
Coinbase Security
Security is the primary target of the Coinbase program, the following measures:
- Cold Storage : Coinbase uses a safe cold storage system to protect user resources from unauthorized access.
- Two -Factorial Authentication : Coinbase requires users to check their identity with two -story authentication before performing events.
- Regular security checks
: Coinbase performs regular security checks and penetration testing to identify and correct vulnerabilities.
Starting Coinbase
If you are new in the cryptocurrency trading, here’s a step-by-step guide to coinbase starting:
- Register : Create an account for the Coinbase website or mobile app.
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