How to Use Coinbase
Coinbase is the most beginner-friendly crypto exchange. It's publicly traded, insured, and trusted by over 100 million users. Here's how to get started.
Why Coinbase?
- Easy to use - Designed for beginners
- Regulated - Publicly traded company (NASDAQ: COIN)
- Insured - USD deposits FDIC insured up to $250k
- Secure - 98% of crypto in cold storage
Step 1: Create Account
- Go to coinbase.com
- Click "Get started"
- Enter email and create password
- Verify your email
Step 2: Verify Identity (KYC)
Coinbase requires identity verification:
- Enter your full legal name
- Add date of birth and address
- Upload government ID (driver's license or passport)
- Take a selfie for verification
- Verification usually takes 5-10 minutes
Why KYC?
Know Your Customer (KYC) is required by law for regulated exchanges. It prevents money laundering and protects users.
Step 3: Set Up Security
- Enable 2FA - Use Google Authenticator (not SMS)
- Add phone number - For account recovery
- Whitelist addresses - Only withdraw to approved addresses
- Vault - Time-delayed withdrawals for extra security
Step 4: Add Payment Method
- Bank account (ACH) - Lowest fees, 3-5 day clearing
- Debit card - Instant but higher fees
- Wire transfer - For large amounts
- PayPal - Available in some regions
Step 5: Buy Crypto
- Click "Buy / Sell"
- Select cryptocurrency (Bitcoin, Ethereum, etc.)
- Enter amount in USD
- Select payment method
- Review and confirm purchase
Use Coinbase Advanced (Formerly Pro)
Coinbase Advanced has much lower fees (0.5% vs 1.5-4%). Same account, just switch to Advanced Trade view.
Coinbase Fees
| Service | Standard | Advanced Trade |
|---|---|---|
| Trading fee | 1.5% - 4% | 0.5% - 0.6% |
| Bank deposit | Free | Free |
| Card purchase | 3.99% | N/A |
| Crypto withdrawal | Network fee only | Network fee only |
Coinbase Learn & Earn
Get free crypto by watching educational videos:
- Go to "Learn" section
- Watch short videos about different cryptos
- Answer quiz questions
- Earn $1-3 in that cryptocurrency
- Can earn $100+ total over time
Withdrawing to Your Wallet
- Click "Send / Receive"
- Select "Send"
- Choose asset and enter wallet address
- Double-check the address
- Confirm with 2FA
Don't Leave Large Amounts on Exchange
Exchanges can get hacked or freeze withdrawals. Move significant holdings to a personal wallet you control.
Coinbase One (Subscription)
$30/month subscription offers:
- Zero trading fees
- Priority support
- $1M account protection
- Worth it if trading $3000+/month