How to pay with the Coinbase account?

What is Coinbase

The burgeoning of cryptocurrencies has led to an increase in the platforms where users can buy a variety of digital currencies. If you are new to cryptocurrency and about to buy your first cryptocurrency, Coinbase is the topmost and #1 recommendation. By far, it has become the most common choice for users. In this blog, we are going to get familiar with a brief on Coinbase, why it is so popular, how to set up a Coinbase account and how to pay with the Coinbase account.

Coinbase - An Overview

Coinbase is the world’s largest Bitcoin broker which offers everything needed by the Cryptocurrency investors. It was founded by Brian Armstrong and Fred Ehsram in June 2012. Not only Coinbase works as a Bitcoin brokerage, but also a developer API, exchange, and wallet.

All in all, Coinbase is one of the most popular and user-friendly options for cryptocurrency enthusiasts to buy or sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash among others.

How Coinbase Works?

Coinbase has three main products:

Coinbase Consumer; The user can trade cryptocurrencies for fiat currencies easily.

Coinbase Pro; Formerly known as GDAX, Coinbase pro is an exchange for more advanced users to trade in cryptocurrencies.

Coinbase Wallet; It acts as a multi-coin wallet which lets you access Ethereum-based assets. This even stores your crypto-assets securely.

Why is Coinbase so popular?

The key reason why Coinbase is so popular is that it was one of the first companies to offer Bitcoin trading. Moreover, its user-friendly design, simple process and bulk of new features are some of the reasons for Coinbase's popularity. Is it secure to give my account info to Coinbase? Indeed, Coinbase is the safest and reliable platform to trade in cryptocurrencies.

How to get started with Coinbase.com?

The best part about using Coinbase is that no advanced knowledge of cryptocurrency is needed. The platform even offers an excellent referral program i.e. you earn a bonus for every successful referral which is registered to your account. Let’s learn how to set up a Coinbase account.

Visit Coinbase.com and click on the Sign-Up button present in the top-right corner.

Fill up the form to begin. Make sure you use your real name as in your authentic ID (passport or license recommended).

Pick your password. Make sure you use a combination of upper and lowercase letters with at least one numeral.

Check the reCAPTCHA security box and the user agreement and privacy policy checkbox.

Click ‘Create Account’ button.

You will receive a confirmation email on the given email address. Log in to the email and click on the confirmation link. Once done, this will activate your Coinbase account.

Next, you will be asked to confirm your identity. You may do it later but it is worth setting up. This will allow you to buy more cryptocurrencies per week and turn your account more secure.

How to Pay with your Coinbase account?

How to pay with coinbase

Now the main problem is How to pay with Coinbase? Today, the Coinbase users can pay for goods and services directly out of their Coinbase account. Coinbase expels the complex cryptocurrency addresses and long calculative figures.

Simply, just log into your Coinbase account, select a wallet to pay from, and leave the rest to the company. Coinbase makes sure that the correct amount of cryptocurrency reaches the merchant.

Even the customers who do not have a Coinbase account, or want to use another wallet can do so. This removes the complexities, simplifies the customer experience and eliminates a load of functioning on merchants to solve any kind of issue with payments.

There might be slight variations in monetary terms since Cryptocurrency wallets pull exchange rates from different sources. All transactions on Coinbase are secure and regulated by the Blockchain and deposited directly to the merchant’s wallet regardless of whether the user is choosing a Coinbase account or from another wallet.

Concluding Up

The word has been spread that Coinbase is the most recommended wallet for anyone investing in cryptocurrency for the first time. Besides, Coinbase boasts itself on its security as it has never been hacked and has driven millions of customers to its platform.

Moreover, Coinbase works seamlessly whilst paying the merchants via it. Sign up for a Coinbase account today to know more!