Coinbase Made Easy

Bitcoin Made Easy’s review and tutorial of the Bitcoin service Coinbase.

If you don’t want to read about the benefits of Coinbase we recommend you watch this full video tutorial with your volume turned on. You can also watch this video split up into steps if that’s easier for you, just click here watch these.

Section 1 Key Features Of Coinbase
Section 2 The 4 Things You Need
Section 3 A Video Tutorial + Step-By-Step Guide

Section 1

Key Features Of Coinbase


Rated 5/5 By Bitcoin Made Easy

We’ve trawled through all the main Bitcoin Exchanges, opening accounts, buying and spending Bitcoin. Our top choice by far is Coinbase, which is also the most popular way to buy and sell Bitcoin worldwide! Coinbase is super-easy to use and has the lowest fees for buying Bitcoin with a debit/credit card.

To top it all off, Coinbase offer a free $10 worth of Bitcoin to new accounts when you have bought your first $100 of Bitcoin if you sign up using our referral link. So this means you are effectively paying no fees at all on your first $200 of Bitcoin purchases. But don’t forget you must sign up via this link to get this!

Because Coinbase does not offer Bitcoin purchasing to all countries, we also highly recommend CoinMama, which supports the widest list of countries. The purchasing fee is higher than Coinbase but the system is still very easy and quick to use.

You Can Buy Bitcoin With These Cards:

Wallet

Not only can you buy and use Bitcoin on Coinbase but you can also store it using their web or mobile wallet.

Countries

Coinbase covers a massive area including US, UK, Australia & most Europe.

Fees

Coinbase have the lowest fees we've found, between 0-4%*

Ease Of Use

Super easy to use on Mobile, PC and tablet.

Speed

By far the quickest method we have tried. You can complete the entire process in 15-20 minutes.

Allowances

Coinbase's limit is $250 per week until you have built up your Bitcoin purchases history. To buy more than $250 straight away then use CoinMama

* 0% fee is if you sign up a new account using our referral link and spend between $100 and $200 on Bitcoin therefore getting your $10 free Bitcoin from Coinbase.

Section 2

What You Need

Using Coinbase couldn’t be more simple. Here are the 4 key things you need to start using Coinbase.

An email address

A mobile phone, desktop or tablet

Your credit or debit card

Valid identification (e.g. passport, driving license)

Section 3

Coinbase Made Easy Tutorial

Below you can find a video plus a step-by-step guide on Coinbase Made Easy.

We recommend you watch this full video tutorial with your volume turned on. You can also watch this video split up into steps if that’s easier for you, just scroll down the page to watch these.

Opening an Account

Takes Approximately 10 to 15 minutes

Get $10 free of Bitcoin on purchases over $100 on Coinbase now.

On the signup page fill in your name, email and give a password.

After submitting your details you will then receive an email from Coinbase which you need to verify by clicking the link they send you.

If you don’t receive this make sure you check your spam folder.

Coinbase will ask you for your identity which you will need to scan using your computer or the Coinbase app on your phone.

Make sure that all four corners are visible and that the photos are light enough and in clear focus.

They’ll send you an email when it is verified (it usually takes 2 minutes).

Please note sometimes they say they are still verifying but your email says it is verified!

Now, add a payment method.

Debit/Credit card is the only option if you don’t want to wait 4 days for a bank transfer to arrive, so select that and then input your card details and your billing address.

Buying & Spending Bitcoin

Takes approximately 5 minutes

At this point, if you are buying your Bitcoin to purchase something on a webstore, you should make your order so that you know the total value of your order.

Select ‘Buy/Sell’

On this page make sure Bitcoin is selected (rather than Ethereum or Litecoin, other cryptocurrencies – it should already have Bitcoin ticked as default)

Select your payment option – Card.

Put the amount of Bitcoin you want to buy in your currency – then add a little more to make an extra $5 worth– this will ensure you have enough to cover Bitcoin network transaction fees too. (you don’t need to worry about this if you are due to get your free $10 initial account bonus*)

Click ‘Buy Bitcoin’ – complete any card verification asked for

Note: It may then stay on a screen saying ‘Card Processing’ but check your inbox/junk mail as you will get an email saying your purchase has been successful. Your Bitcoins are now in your Coinbase Wallet!

*If you have used our link to sign up to your account and have bought over $100 of Bitcoin, your free $10 of Bitcoin should arrive approximately 10 minutes after your purchase. You will get an email confirming this.

From your Coinbase account select “Send/Request”. Then, switching to the webstore checkout page, carefully copy the Bitcoin Address given to you for your payment and then paste it into the ‘Recipient’ field on the Coinbase send page.

Enter the amount of Bitcoins you’d like to transfer. (If you are using the Coinbase App just scan the QR code provided with your smart phone). This can take up to an hour, but will normally land in your inbox in a matter of minutes.

More Questions?

Take a look at our FAQ below.

Can I sell my left-over Bitcoin?

Yes, but with a transaction fee. Most exchanges that you can buy Bitcoin at, also allow you to sell Bitcoin. From our top exchanges, Coinbase and BitPanda allow this and CoinMama is aiming to add in the near future.

Where can I find an up-to-date price for Bitcoin?

You can find a live price for Bitcoin on the CryptoCompare website https://www.cryptocompare.com/coins/btc/overview/USD You can click on USD on that page to change the price to EUR or GBP or other national currencies (as well as other cryptocurrencies). Please note that this price will most likely be a little lower than you will buy Bitcoins for at one of our recommended exchanges, as it is the traders’ market rate.

Is Bitcoin anonymous?

To send and receive Bitcoin, you need a public address – this is the long string of around 30 characters. For every transaction, the sending and receiving addresses are publicly-viewable. Bitcoin is therefore known as ‘pseudonymous’ which means that it is not automatically known the real identity behind a Bitcoin address. However someone could potentially find out who the real person is behind the pseudonym.

How many Bitcoin can be produced?

Unlike government issued money that can be printed at will, the supply of Bitcoin is mathematically limited to 21 million coins and that can never be changed.

Why is my transaction showing as ‘unconfirmed’?

When you send Bitcoin to an address, you can check on it’s progress by entering the address into the search bar on https://blockexplorer.com/ , it will show as unconfirmed until it is verified by the network. Transactions are considered complete once they have between 2 to 6 confirmations (depending on who owns the wallet).

What do I need to verify my identity?

You will normally need a passport, driving license or national ID card. You will also need a mobile phone and an email address which you will need to verify.

Why does my identity need to be verified to buy Bitcoin?

All exchanges require ID verification as if they do not do this they could be prosecuted by the authorities for violating money laundering regulations.

Do I need to get a Bitcoin Wallet?

No. If you just want to buy Bitcoin to pay for a specific online web order then you can send bitcoin straight from the exchange when buying it and you don’t need another wallet. Also if you are using Coinbase or Bitpanda and you are storing a small amount of Bitcoin then you do not need another wallet as they provide one. However if you are buying a small amount of Bitcoin with CoinMama or Bitit then you can use a Jaxx wallet on your computer or phone and if you are storing more Bitcoin and for longer-term then we recommend buying a Ledger Nano S hardware wallet.

How long does it take for my Bitcoin to arrive at their destination address once I have bought and sent them?

Once you have sent your bitcoin, it will usually take between 10 to 30 minutes for the transaction to have full confirmation. To track the process of your transaction go to  https://blockexplorer.com/ and paste the bitcoin address in the Search bar at the top. It will show when the transaction is fully confirmed, don’t worry, on occasion, if the network is very busy, this can take up to an hour or more.

What’s the cost of buying Bitcoin?

The fees at the various exchanges vary, please see our exchange comparison table for the different fees. Coinbase is by far the cheapest offering Bitcoin purchases inclusive of card processing fee for only 4%. If it’s a new account and you sign up directly from this link, then you get a further $10 on your first $100 of Bitcoin payment, effectively bringing the cost to nothing for up to $200 of Bitcoin.

Contact Coinbase 24/7 and visit their help center Get Help