How to Use Coinbase to Make Money

Do you want to know how to use Coinbase to make money? In the last decade, a large group of global investors and corporations have started buying Bitcoins. You can do this too as a strategy to gain long-term or passive income.

To buy Bitcoins and other cryptocurrencies, you need an exchange platform for them, and Coinbase may be the perfect alternative you’ve been looking for.

Disclosure: There are some affiliate links below and I receive commissions for purchases made through links in this post. You do not pay any extra for this.

Get Started Here: I signed up on Coinbase over 3 years ago and still use it to trade Bitcoin and other cryptocurrencies. Click here to open a free account, and if you spend more than $100 in your first 180 days, you get a $10 bonus!

What is Coinbase?

Coinbase functions as a platform that allows its users to buy sell or exchange cryptocurrencies, either, for cash or for other digital assets.

As the years go by, this platform has gathered good opinions and the approval of many users. In addition, it has established itself as one of the largest platforms in the United States, as it complies with high-security standards and respects the regulations of that country.

What does Coinbase offer?

Coinbase allows you to buy Bitcoins or any cryptocurrency with your credit card or Paypal balance. In addition, you can exchange Bitcoin for other cryptocurrencies on the market, such as Ethereum or the digitized version of the US dollar (USDC).

On the other hand, you can also sell cryptocurrencies when they increase or decrease in value and deposit the proceeds into any available bank account.

Likewise, Coinbase offers many other services such as offline storage of assets, to protect them. It even educates its users with a list of mini-courses for traders to work through on the computer.

How to use Coinbase?

The first thing you need to do to start making money with Coinbase is to open an account with real data on their platform. You can do this through a bank by completing the setup on their website.

Once this is done, you proceed to perform all security protocols to verify your account. This is of utmost importance to avoid fraud of any kind.

The next and last step will be to register the card within the payment methods. You can do it through Paypal or a bank account of a national bank.

What are the advantages of Coinbase?

Once you have created your account on this platform, it will grant you many benefits for you to start enjoying. Here are some of its many advantages.

1. Peace of mind

By using this platform you benefit from the services of the leading exchange platform in the United States. This becomes an endorsement of quality, firmness, and security that not many other platforms offer.

On the other hand, users also have the benefit of centralization and the legal system. In other words, Coinbase has to comply with a series of regulatory and security requirements, which offer additional protection to users.

2. Ease of use

This platform is very easy to use. Since, Coinbase complies with buying and selling cryptocurrencies by simply pressing a button, if the graphs and indicators may cause you some difficulties.

3. Learning

On the other hand, if you are passionate about the world of investments and trading. The Coinbase Pro platform offers everything you need to train in a professional environment to any user who requires it.

Disadvantages to take into account

As good as this platform is, not everything is rosy. Coinbase has several weaknesses. The list of countries with full support for buying, selling, sending, and receiving is very restricted, being this the first point.

On the other hand, there have been reports where Coinbase tends to crash during periods of high volatility. In other words, if you notice that a chart is in your favor, it is best to refresh the page several times to confirm the data obtained.

Also, remember that there are no guarantees when trading crypto, and the value of your investment can go up or down.

Other important features offered by the platform

In 2021, Coinbase made news by being listed on the NASDAQ, being the first firm that trades cryptocurrencies to go public on the stock exchange. Here are more of the features that make this platform so prestigious:

1. Coinbase Earn

These are rewards offered by the platform for free, both for registering and learning about the digital financial market. Best of all, these rewards are earned in cryptocurrencies.

In order to enjoy this service you must verify your entire account, including your identity and photo. And finally, you must confirm in the list of countries supported so far, that your country is added.

2. Coinbase Pro

This is Coinbase’s trading platform and it is totally free. Here you will find charts with some integrated indicators. In addition, it has a list of currently open buy and sell orders, organized by price, which gives you useful information to identify support and resistance lines.

3. Coinbase Wallet

This application allows all its users to store digital currencies independently. This means that the money sent to this wallet will belong only to the user, being the only one with access to this account.

On the other hand, it is not necessary to be registered in Coinbase to enjoy this service. Since, it supports Bitcoins, Ethereum, Litecoin, and other cryptocurrencies on the market.

4. Coinbase Safe Deposit Box

This alternative offers greater security for the storage of cryptocurrencies, as it adds extra security steps, quite useful to keep users’ peace of mind.

Once stored in this safe, the user will have to perform multiple authorizations, by mail or people. When this is done, the available balance will be available within 48 hours.

5. Other rewards

Coinbase offers $10 for each person invited to register on the platform. With this, you will have a maximum of 4 people to add to your campaign.

In this campaign, the user must register through the invitation link, accept it. And finally proceed to complete a survey, to receive the extra 10$.

User’s opinion

It is good to recognize that not all platforms are perfect since there can be inconveniences or mishaps in such. However, there are users who are very happy with this service, since it allows them to allocate their earnings in a safe, simple, and very reliable way.

Finally, it is important to highlight that this platform is ideal for people who are just starting to learn about cryptocurrencies. Since its platform is simple and offers all the necessary tools to be trained in the field.

Get Started Here: I signed up on Coinbase over 3 years ago and still use it to trade Bitcoin and other cryptocurrencies. Click here to open a free account, and if you spend more than $100 in your first 180 days, you get a $10 bonus!

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