Coinbase offers one of the safest and easiest options to purchase cryptocurrency from anywhere in the world. Following a few procedures, users can buy as much cryptocurrency as possible. There are hundreds of cryptocurrencies added to blockchains every day, and Coinbase is one of the best places to get them.
To buy cryptocurrency on Coinbase, the main step is that you have a user account. Without an account or a Coinbase profile, it is impossible to buy, sell, send, or even receive cryptocurrencies. Once you have successfully created a Coinbase account or had one beforehand, you can proceed with the purchase.
Although Coinbase offers a secure platform to exchange cryptocurrency, you need to follow the procedure carefully, so you don’t lose money in the process. Quickly, let me get you through how to buy cryptocurrency on Coinbase.
How do I buy Cryptocurrency on Coinbase?
As I mentioned earlier, you need to own a Coinbase profile first before you are able to purchase cryptocurrency on its platform. If you already have an account with Coinbase, then there is no need to create a new one. All you need to do is get on with the process.
There are two ways to buy cryptocurrency on Coinbase. They include;
- Buying from Coinbase.com
- Buying from the Coinbase mobile app
Both platforms have distinct interfaces; therefore, there are different ways to buy cryptocurrency. You can go through both procedures and see which one is easier and more convenient for you. Let’s get to it.
Buying on Coinbase.com
The platform coinbase.com is the Coinbase marketplace in the web version. With this, you don’t need to install a mobile application on your device; you only need to sign into your Coinbase account on coinbase.com.
To buy cryptocurrency on coinbase.com, follow the procedure below;
Step 1: Sign in directly to coinbase.com.
Step 2: Upon logging in, locate the “Buy/Sell” option on the upper right corner of the webpage.
Step 3: Select “Buy” to choose the asset you wish to purchase.
Step 4: Enter the amount of cryptocurrency you wish to buy. It might be denominated in cryptocurrency or your local currency value.
Step 5: Choose your most preferred payment method from the available options.
Step 6: Tap on “Preview Buy” to confirm your purchase before completing it. If you wish to change or cancel the transaction, you should click the back arrow icon.
Step 7: Confirm your transaction details and click “Buy” to complete your purchase.
Buying on the Coinbase mobile app
If you already have the Coinbase mobile app installed, you can also purchase cryptocurrency seamlessly. If you don’t, then you can install the app and sign in or proceed to the web version.
To buy cryptocurrency on the Coinbase mobile app, follow the procedure below;
Step 1: Start the Coinbase mobile app and sign in to your account.
Step 2: Locate and tap “Buy” on the Home tab.
Step 3: Choose the particular asset or cryptocurrency you wish to buy.
Step 4: Enter the amount of cryptocurrency you wish to purchase. It might also be denominated in crypto or your local currency.
Step 5: Tap “Preview Buy” to review the details of your purchase. Remember to tap the back button icon if you wish to make a change or cancel the transaction.
Step 6: Confirm that the details you have entered are correct, and tap “Buy now” to complete the purchase.
What Is the least amount of crypto I can buy on Coinbase?
In many cryptocurrency exchanges, there is always a minimum amount of an asset you can buy before your order is completed. Coinbase is not an exception when it comes to this. The minimum amount of cryptocurrency you can purchase on Coinbase is $2.
There is usually no limit to how much cryptocurrency you can buy on Coinbase. If you wish to purchase a million-dollar worth of an asset, then so be it. As long as you have a Coinbase profile and enough funding, then you can go ahead to make the purchase.
How do I create a Coinbase account?
Remember that it would be impossible to buy cryptocurrency on Coinbase’s centralized exchange if you don’t have a profile yet. As a result, I will show you how you can easily sign up for a Coinbase account in a few steps.
Step 1: Go to coinbase.com/signup.
Step 2: Enter the information in the required fields and tap “Create a free account” to continue.
Step 3: After creating an account, you have to verify the email address you have provided to gain complete access to your account.
Step 4: After you create a Coinbase profile, you will be asked to provide a means of identification. Here, you must present a valid ID and proof of address. Proof of address is very important if you wish to buy and sell on Coinbase. Therefore, you should have both documents ready.
Keep in mind that identity verification might take longer than a few minutes; therefore, you have to be patient during the process. However, the speed at which your ID is processed and accepted depends on your geographic location.
Why am I unable to buy crypto on my Coinbase account?
Users sometimes cannot buy crypto or add cash to their Coinbase wallets. One might wonder how this is possible with the ease of purchasing assets offered by Coinbase. The main reason you might be unable to buy crypto on Coinbase is if your account isn’t recognized as a trusted payment source.
Like many other centralized exchanges, Coinbase uses an automated system to help protect the community and save the site from fraud. When the system detects suspicious activity on your account, you might be flagged and restricted from making transactions on the platform.
The inability to buy crypto assets on your Coinbase account is caused by two common reasons:
Firstly, it is possible that Coinbase received a chargeback when trying to process one of your transactions. Until a transaction is completed on the platform, it is literally impossible to place another order. If you don’t know of angry chargebacks or reversals that may have occurred on your Coinbase account, you should immediately reach out to them and include this information.
Also, it may be that Coinbase already needs additional information to confirm your ownership of the payment methods you have added to your account. If the system detects false information, you might be asked to provide extra information to clarify the issue.
If you have not added any payment method to your Coinbase profile and face this issue, ensure an ID document is uploaded for each person who has information verified on your Coinbase account. They will look into the issue, and it will be reviewed just as it should be.
Why is my Coinbase account temporarily disabled?
If you see this error message on your Coinbase account, there is currently a restriction on it potentially related to a security concern. Your Coinbase account could get temporarily disabled because;
There was irregular activity on your account; perhaps it was targeted by a malicious user.
The system detected a security issue with your information when processing an account recovery.
You have requested action on your Coinbase account.
How to remove this restriction
Before this temporary restriction can be removed from your Coinbase account, there has to be a Coinbase Security review on the account. Follow the procedure below to get started;
- Ensure that your email password and 2-step verification are secure.
- Request a password reset on your Coinbase account.
- Reach out to Coinbase Support and follow the prompts.
- There will be a review to restore full access to your Coinbase account. All reviews will be processed in 10 business days.
Buying cryptocurrency on Coinbase is easy, and you should have no problem doing so. The most important part of the procedure is that you create an account. Once you sign up for a Coinbase account, you can buy, sell, transfer and store crypto assets on the centralized exchange.
To create a Coinbase account from scratch, you must follow the procedure I explained above. Coinbase allows users to sign into a Coinbase profile using their Gmail account. If you wish, you can use this method instead of creating a whole new account.