First Create an Account – Fill in the relevant details
Once you have worked your way through the sign-up process you will need to add a payment option. We recommend using a card or Paypal for payments to start as its instant and you won’t have to wait for the funds to clear like if you were to use a bank transfer.
Coinbase will give you a choice of wallets
- USD Wallet: To Deposit US Dollars, Store USD when you sell any of your currency. Transactions from USD Wallet to buy any of those coins is Instant.
- BTC Wallet: Your bitcoins will show up here after you buy using USD.
- ETH Wallet: This is the place where your Ethereum will be stored
- LTC Wallet: This is the wallet for storing your Litecoins.
Deposit to USD Wallet or Direct Buy
Depositing money from your Bank to USD wallet takes about 4-5 day. Meanwhile, a lot can happen! These cryptocurrencies are so volatile that price may shoot up even 100% in 4 days. When we mentioned volatile, it’s equally possible that it may go down 100% or more in just 4 days! So it’s all about your own research about what exactly these coins are, what’s the right price — price of these coins mostly depends on supply vs demand as well as some technological breakthroughs and partnerships.
Even a direct buy takes 4 days for your bought currency to reflect in your wallet. It’s because of ACH transfer and the bank takes 3–5 business days to process the request and send your money to Coinbase. However, you get a locked-in price for the selected coin if you buy directly!
So, if you think price of a Bitcoin or an Ethereum is right at this point in time, and you think if the price might go up in next 2–3 days and are sure that it will not go down in next 4–5 days — Then go for direct buying of the currency you are interested in.
Thats it! Congratulations you have now purchased your first Bitcoin, Litecoin or Ethereum!
Remember use the link below to get a FREE $10 worth of Bitcoin when you purchase $100 or more!