Welcome to this post, where we are going to see how you can buy and sell cryptocurrencies on Coinbase in the best possible way, and without errors.
The first thing we are going to need, is to have funds in our Coinbase account. If you do not know how to do it, on our website you can find a step by step guide to deposit funds in Coinbase in all possible ways.
Coinbase is a very simple and intuitive platform, which makes buying cryptocurrencies very easy, and different from other more professional or complex platforms.
In order to buy cryptocurrencies on coinbase, you can do it directly with your payment method you have indicated. When you create your account, you will be asked for a payment method where you can add a credit or debit card to buy cryptocurrencies. If you did not add it, in your profile, you can go to payment method, and add the information to be able to start buying and selling cryptocurrencies on coinbase.
With the payment method indicated, it is as simple as clicking on buy/sell in the desktop version, the app operation is very similar. In the buy part, it will first ask you what type of purchase, if it is a one-time purchase, every day, every week, every two weeks or every month. This is a way to buy an asset every so often, and thus buy both when it has a lower price, and when it has a higher price. To avoid entering at the time when the price of this cryptocurrency is at its highest.
Once you have selected this, usually you will select in single purchase, the next thing is to indicate the quantity. You will be able to see different price options, and you can click on customize to indicate a specific number that is not in these options. Also, remember that the amount you indicate, is in the currency you have indicated, either euros if you live in Europe or dollars if you are in America.
The next step is to indicate the cryptocurrency we want to buy, let’s say ethereum, in buy we select the arrow and we will see a list with all the cryptocurrencies available on coinbase to buy. You can use the search engine to find it faster. In case you don’t find it, it is very possible that it is not available on coinbase and you should use another platform to buy the cryptocurrency you want.
The last step is to select the payment method, which comes by default the one you indicated when you created your account. If you click on the arrow, you will be able to add another payment method and see the limit of your payment method.
Click on buy now, and confirm the transaction with your bank if verification is required using the app or with an SMS. With the purchase done, you will be able to see in your balance the amount you have and in your assets the cryptocurrency you have purchased.
To sell, we will go to the same panel above, but in the sell part and the operation is the same. We will indicate the cryptocurrency we want to sell, the portfolio of euros or your currency in coinbase will be where you will receive the amount sold in your currency. Click on preview the sale, and if you are satisfied with the information click on sell now. You will see a success message and a withdrawal button.
The withdraw funds button is used to withdraw money to our bank account, and on our page you can also find a step by step guide on how to do it to withdraw the money to your bank account again. Now in your assets, you will be able to see the amount you have sold in your currency.
Finally, we have the option to convert. Which allows us to switch from one cryptocurrency to another easily and simply. Instead of buying again with your credit card or payment method, you can use cryptocurrencies you have to get another one that you may find more interesting. So, we will click again on buy/sell and convert. Here, select the cryptocurrency you have and the one you want to get.
You can indicate the amount in your currency or click on convert all if you want to exchange all the ones you have. You will be able to see the commission, what you pay and the exchange rate, and if you are satisfied click on convert now. You will see a message that your order has been sent, and if we go to your assets, you will see how you have the cryptocurrency you have exchanged.
I hope it has helped you to know more in detail how to buy and sell cryptocurrencies within Coinbase. Remember that if you don’t have an account with coinbase, you can create one just below.