What is Coinbase?

Coinbase is a digital wallet that allows merchants and consumers to transact with new digital currencies such as Bitcoin, Ethereum and Litecoin but mainly Bitcoin.

See also: What is Bitcoin? Things to know about Bitcoin

Coinbase was founded by Brian Armstrong and Fred Ehrsam in June 2012 with headquarters located in San Francisco, California, USA.

Previously, transactions on Coinbase were completely free, but now Coinbase officially charges fees, but the fee is quite low compared to the common level of other e-wallet services.

Currently, Coinbase exchange does not support buying and selling transactions for some countries including Vietnam, but with the wallet service, any user in any country can use Coinbase

See also: What is electronic money? Things to know about futures currencies

Coinbase is the place where you can buy, sell and manage digital currency

Some services of Coinbase

Buy and sell digital currency

Coinbase is the place where you can buy, sell and manage your digital currency easily and reliably.

With Coinbase, you can:

• Buy and sell popular digital currencies, track them in one place
• Invest in digital currency slowly over time by scheduling daily, weekly or monthly purchases
• For added security, store your funds in a vault with delayed withdrawals
• Stay on top of the markets with the Coinbase app for Android or iOS.

Why you should choose Coinbase to start trading because Coinbase owns the most trusted digital currency platform:

• Safe Storage: The majority of digital assets are stored on Coinbase in secure offline storage
• The digital currency is stored on the machine and insured under Coinbase’s insurance policy
• Proven and recognized industry best security practices.

GDAX electronic trading platform

GDAX (Global Digital Asset Exchange) is considered as a world-class exchange. So what is Coinbase’s GDAX?

GDAX is an online trading platform that provides intuitive interfaces with real-time orders, charting tools, trade history and a simple order process so you can trade from the first day.

In addition, GDAX offers institutions and professionals the ability to trade multiple digital currencies such as Bitcoin, Ethereum and more on a single US regulated exchange.

With the WebsocketZ feed giving you easy access to real-time market data, while the industry-leading API (application programming interface) system allows you to develop trading programs safe, programmatic.

GDAX is rated as a world-class exchange

Coinbase Commerce

Coinbase Commerce is a service to get your business to pay with digital currency. This service allows entrepreneurs to run their businesses from anywhere in the world and gain access to a global customer database by accepting digital currency payments. border.

Designed and built by Coinbase – the world’s leading digital currency company, safety and security is always the number one priority. Moreover, the Coinbase team is also constantly working to improve the platform and build new tools to help you run your business in the most efficient and fastest way.

Provide API digital platform

Provides a digital platform for the Application Programming Interface (API). Coinbase’s API can perform a variety of functions, from reading and collecting data to creating unprecedented interfaces, and easily integrates with other digital currencies into the application. new and existing. Specifically:

• Generate Bitcoin, Bitcoin Cash, Litecoin and Ethereum wallets and addresses
• Buy/sell and send/receive bitcoin, bitcoin cash, Litecoin and Ethereum
• Safely Store Bitcoin, Bitcoin Cash, Litecoin and Ethereum
• Retrieve real-time or historical price information
• Get notified when payment arrives.

Coinbase Pros and Cons

Advantages

• As one of the most famous cryptocurrency exchanges in the world, it is highly liquid.
• Available for immediate purchase.
• Easy to use for most beginners.

Defect

• Limited payment methods.
• The account is tracked.
• Customer service is not appreciated.
• Support few cryptocurrencies
• Credit cards are not accepted for US users.

How to register and create a Bitcoin, Ethereum, Litecoin wallet on Coinbase

How to register

How to register an account on Coinbase as follows:

• Step 1 : You access coinbase HERE (When you have just accessed Coinbase’s default language, French or Italian, scroll down to the bottom of the page, go to the “Language” section and select “English” for ease of use)
• Step 2: Next, fill in all information: First Name (Last Name), Last Name (First Name), Email and Password then click on “I agree to the…” and then select Create Account.
• Step 3: After registration, Coinbase’s system will send a confirmation email, go to the email to activate your account, click Verify Email Address and you’re done.
• Step 4: Coinbase will ask you to verify your phone number, enter your phone number and press “Send Code”.
• Step 5: You will receive a 7-digit code via SMS, enter this code and then click “Submit”.

<p>With the above 5 basic steps, creating your Coinbase account is done.

How to create a wallet

Each virtual currency such as Bitcoin, Ethereum, and Litecoin in your Coinbase account will have a main wallet and a secondary wallet. As for the main wallet, this is the wallet that will automatically change the wallet address after each time you receive money. So after each time you receive money, you should check your new wallet address before sending it to the person sending you money.

Note: The specific wallet addresses that are the main wallet after each payment will be automatically listed in the list of secondary wallet addresses. So if you forget to update your new wallet address, but still give the old wallet address to the money transferer, the money will still go to your account normally.

How to get the main coinbase wallet address as follows:

• You select the tab “Accounts”
• Then select “Get Bitcoin Address” to create a wallet for each type of BTC, ETH and LTC coins

How to create multiple Coinbase sub-wallets

A Coinbase account can create thousands and millions of secondary wallet addresses like Bitcoin, Ethereum and Litecoin to receive money, when someone sends money to that address, it goes to your coinbase wallet account. With a secondary wallet, this is a fixed wallet address even after each time you receive money.

Note:

• In case of small amount transactions, you can use a fixed secondary wallet address.
• Wallet addresses only main wallet after each money is automatically listed in the list of secondary wallet addresses

How to create a secondary wallet:

• Go to the “Tools” tab.
• Then select the “Addresses” tab.
• Select the coin you want to create a secondary wallet and then select “Create New Addess“. You will see the secondary wallet address appear right below.

You can use that fixed secondary wallet address to receive money from someone.

How to use Coinbase wallet

How to top up BTC, ETH, LTC to Coinbase wallet

If you want to transfer Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) to your Coinbase wallet or someone wants to send you coins, then get a wallet address on Coinbase and send it to them for them to transfer.

Here, Thebank will guide you how to get a Bitcoin wallet, with other coins doing the same:

To get the Coinbase wallet address you do the following:

• Step 1 : You choose “Accounts“, this is where your wallets are stored, you will see BTC, ETH, LTC, BCH and ETC wallets below, you click on “Receive” where “BTC Wallet“.
• Step 2: Coinbase warns only to send BTC to this wallet, if you send other coins, it will be lost. Each coin has a different wallet address, so if you deposit BTC and send it to an ETH wallet, you will lose it. Click on “Show Address“.

With Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic you do the same thing. If you do not have a coin, you can go to the Remitano exchange to buy and load, Remitano currently supports 4 coins: Bitcoin, Bitcoin Cash, Ethereum and USDT.

How to withdraw BTC, ETH, LTC from Coinbase wallet

You can send BTC or any coin from one wallet address to another. And you can withdraw from Coinbase to whatever private or exchange wallet you want.

To withdraw money from Coinbase, follow these steps:

• Step 1: In the “Accounts” section, select “BTC Wallet” and then click “Send”.
• Step 2: Enter the withdrawal information including:
  • Recipient: The wallet address you want to withdraw to
  • Amount: Amount of BTC you want to withdraw, next to it will be the equivalent amount of VND, to withdraw all you click and then select “Send Max”
  • Note: Content of money transfer you write
• Step 3: The “Miner fee” part is the transaction fee you pay to the miner to confirm this transaction, the fee is 033 439 0000 BTC equivalent to 2,542 VND. Check the information and then enter the 2FA code below, then click “Confirm”.

After completing the withdrawal from Coinbase wallet, you can click on “View Details” to view your deposit transaction details.

Along with the rapid growth of Bitcoin, the concept of virtual currency is now no stranger to everyone. Hopefully, the above article helps you better understand Coinbase, and has useful materials for your virtual currency investment plan in the future.