Regular users of Coinbase know very well that trading cryptocurrency on this platform is as easy as it gets. Coinbase is a beginner-friendly crypto exchange platform where you can buy Bitcoin as effortlessly as you buy stock through an online brokerage.
If this is your first time visiting Coinbase and you have not decided about getting a crypto account here, below are the reasons that make this platform one of the top picks for investors;
- It supports more than 100 digital currencies, including the top ones such as Ethereum and Bitcoin.
- Available service in over 100 countries across the United States, Asia, and Europe, and more
- You get opportunities to earn free cryptocurrency through Coinbase Earn
- Scalable across all platforms from web to mobile
If you look for a Coinbase review on the internet, you might get conflicting information on how to register and set up your digital account on the platform. So this post aims to break down Coinbase registration step by step so you can follow the instructions to create your account by the end of this post.
So, ready to sign up for Coinbase?
Let’s get started.
How To Open A Coinbase Account
To start your Coinbase account registration, here are the following steps to follow:
Step 1 – Creating your Coinbase account.
The first step, access coinbase.com and go to “Get Started” at the top right corner. The “Get Started” option is also available right in the middle of the page, as seen below, so you can use that alternative.
- Coinbase requires you to enter details on the following page, including your first name and last name, and email address.
- Make sure that you enter your full name, which is the same as in your government ID, as Coinbase will ask for proof later on.
- Create a password for your Coinbase account and memorize it. Noting down the new password in a safe place is also a good idea.
- If you have a Coinbase referral code from someone who already uses the platform, you can apply the promo code, but it is optional. Signing up on the platform with the link from someone using the Coinbase referral program has the advantage of earning you free Bitcoin later on.
- Finally, check the box to certify that you are 18 years or older and click “Create Account.”
- If you prefer using the Coinbase app on your smartphone, you will click the “Sign Up” to create a Coinbase account.
Step 2 – Email Verification
- You will receive an email at [email protected] for verification purposes. Click the link to the email, and it will redirect you to Coinbase.com.
- Sign in to your new Coinbase account with the email address and the password you generated on the site for your account, and this completes your email verification.
Step 3 – Phone number verification
Coinbase requires you to verify your phone number to set up the 2FA or 2 Factor Authentication/Verification that acts as an extra layer of security, apart from your password and username.
For this step, you need to sign in to your Coinbase Account through the Coinbase app from your smartphone.
- Open the Coinbase app and click “Sign In.”
- Choose your country of residence, which will also change the country code
- Next, add your mobile phone number that is connected to a smartphone
- Click “Continue”
- Coinbase will send a 7-digit code to your phone number, so you need to enter it when prompted.
- Click “Continue”
If you did not receive the 7-digit code, click “Resend SMS.” If it doesn’t work, Coinbase has an in-depth article on how to troubleshoot any problems with 2FA.
Step 4 – Adding personal information.
After you complete the 2FA, Coinbase will prompt you to add your personal information. This includes your:
- First name
- Last name
- Full address
In addition, you will also be required to answer a few questions, which are:
- What do you use the Coinbase platform for?
- Source of funds
- Current Job
- You employer
- Your SSN’s last four digits
These details should be up to date and according to your legal documents.
- Click “Continue” to complete this step.
Step 5 – Verify your identity.
This is the Level 3 of your Coinbase account verification
Coinbase requires identity verification in order to comply with financial regulations so you can trade without any problems on the platform. Identity verification also prevents fraud activity with your Coinbase account and any changes related to it.
- Log in to your Coinbase account through the phone app or a browser of choice.
- Next, to complete your ID verification, go to settings
- Scroll down to “Verify Photo ID”
- Coinbase gives you two options, as seen on the page below.
- Coinbase accepts a Driver’s License or a State Issued ID if you are in the United States. Coinbase accepts a passport, government-issued photo ID, or a national identity card if you are from another location.
- Next, you need to upload the chosen document through any of the three methods as seen below:
- Coinbase recommends using the Mobile Camera method for a secure upload
- After clicking on the Mobile Camera option, Coinbase will send you an SMS with a secure link to your verified phone number.
- Click on the link, and you will get options to upload your document front and back.
- Take a clear picture of your documents, upload it, and click “Complete Verification” to complete the process.
- Coinbase will send you an email once the ID verification is successful. The verification from Coinbase can take several days to a week, so be patient and wait for the email.
- The Coinbase sign-up process for your account is complete once you receive the confirmation email.
How To Set Up My Coinbase Account?
The next step to start investing or trading on Coinbase is to set up your new account. Setting up the digital wallet will secure your private keys and allow you to make a transaction and invest using digital currency.
Before setting up your Coinbase wallet, here’s a quick look at cryptocurrency wallets and the different types:
- Hardware wallets: Like a thumb drive, a hardware wallet stores your digital currency offline. A hardware wallet is excellent in terms of security and long-term use, but it is expensive and a bit complicated to use, especially for beginners.
- Hosted wallets: They are so-called because a third party stores your digital assets such as ETH, and therefore you don’t have to bother about losing your password or crypto savings plan on the blockchain. The downside of a hosted wallet is that you don’t have access to all crypto offers.
- Non-custodial wallets: Also called a self-custody wallet, a non-custodial wallet allows you to have full access and control of your digital assets. With this type of digital wallet, you can partake in the full activities that crypto offers, including lending, borrowing, staking, and yield farming. However, you have to take full responsibility for your private keys, password, and account details on the blockchain.
Coinbase wallet falls under the category of the self-custody wallet, so you have absolute control of your digital wallets.
Setting up your Coinbase account
- To set up your Coinbase account, follow the sign-up process explained above. After you complete all the steps and Coinbase verifies your account, sign in to your account from a browser or a Coinbase app on mobile.
- If you are using Coinbase from the browser, go to the Buy/Sell tab at the top menu. Select Payment Methods and choose “Add a New Account.”
- Depending on the payment type you choose for your Coinbase account, you will get the instructions, so follow them closely, complete the verification, and your Coinbase wallet is set and ready to go.
The speed of transactions on Coinbase, interest rates, and buying and selling options will also depend on the type of payments you choose. So take a look at the details before choosing your preferred payment method. If you use Coinbase from the US, you can click here to see the payment methods, the speed of the transaction, and other details related to it.
Take note that Coinbase also limits whether you can make small or large investments depending on the payment method you choose, so don’t skip this step of looking at the details.
Coinbase has several payment options for you to choose from, depending on your location. For users in the United States, you have Google Pay, Apple Pay, debit card, bank account, PayPal, wire transfer, and instant cashouts to bank accounts. US customers don’t have a credit card payment option at the moment. But you can use credit cards on Coinbase from other countries.
If you are outside the US, setting up your Coinbase account can be a bit different, along with speed, flat fee, and payment methods. But this crypto trading platform has detailed instructions for supported countries, so it should not be a problem.
Visit this link for details about setting up your Coinbase account from Singapore, the UK, Europe, Canada, and Australia.
Coinbase Registration FAQs
As highlighted above, there are several requirements for getting a Coinbase account registration. These include:
– Document proof that you are 18 years old or older
– An ID card issued by the government in the country you are located
– An active phone number for SMS verification
– A working email address for verification
– A smartphone/computer with an internet connection
– Social Security Number