Digital Currency

How to use Coinbase to buy Bitcoin, Litecoin, Ethereum

Coinbase is an app that allows you to buy digital currency like Bitcoin, Litecoin and Ethereum.

Cryptocurrency has become a valuable asset in 2017 and with Coinbase, it is very easy to purchase them with regular currency such as U.S. Dollar.
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency.

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Hey everyone. In this video, I’m gonna show you how you could use the coinbase app
to buy crypto currencies like Bitcoin, Litecoin and Ethereum and I’m
only mentioning those three right now because Coinbase is only supporting
those three coins right now but they may be adding new coins all the time there
are thousands of coins out there and I’m assuming there’s gonna be thousands more
by the time you might be watching this video, so I’m assuming coin base will add
new coins. They actually added lite coin this year. They didn’t have lite coin in
the beginning of the year, so that’s one cryptocurrency they they added in the
beginning of the year so by the time you’re watching this there may be more
but right now I’m gonna show you how to buy Bitcoin, Ethereum and lite coin.
If you’re new to cryptocurrencies and you’ve never heard of these things and
you just heard someone talk about Bitcoin let me just give you a quick
perspective. Bitcoin is right now the king of cryptocurrency it’s been around
around a long time, seven years but it’s really booming in 2017 at the end of
2017 this had a big boom and a lot of people are jumping into buying it but
things like ethereum and litecoin are second a third to Bitcoin and they’re
also valuable assets, digital assets, if this is where you want to invest your
money so the idea is to use your current currency like the US dollar and exchange
it for Bitcoin and hoping that Bitcoin becomes that currency that we could be
using down the road, let’s say in ten years you could take over things like
the US dollar and become the currency that we all use to purchase things and
to do peer-to-peer money exchanges. Now that’s the hope and that’s the idea and
that’s why the people that are buying bet coin are holding on to their Bitcoin
because they are hoping that it become becomes a lot more valuable. The reason
why is because all money right now, our current financial system money is tied
to a government so the US dollar is tied to a government so either activity of
the government could affect the value of the US dollar globally things like
Bitcoin are not tied to any government. They are a global digital asset a
digital currency that’s decentralized meaning they’re not
talk to anyone government. So that could really have a benefit for its value down
the road. Again those are some of the reasons why Bitcoin, litecoi and Ethereum
have really shot through the roof in their value in the last few months and
especially this past month but again by the time you’re watching this you could
really fluctuate so before you invest make sure you do your homework and know
what you’re buying into because there’s a lot that goes behind these digital
currencies and I don’t want you to make a decision just to buy it because it’s
the latest boom and you end up losing your hard-earned money so I’m not a
financial adviser that’s just my two cents. I’m actually going to invest but
I’m gonna invest very modestly right now but let’s jump into Coinbase and set up
our accounts and see how we could go about buying Bitcoin, Ethereum and litecoin.
There are multiple ways where you could sign up for coin base I’m actually
on the desktop version here this is not the app version this is just a browser
version so it’s that coin based com this is where you sign up but I like to show
you how to do this on the mobile version and then we’ll jump back into the
web-based version once we’re set up and it doesn’t matter if you’re on an iPhone
or an Android device Mac or PC this really works the same in all the
platforms right now alright I jumped into my phone the first
thing I need to do is obviously download the app so I’m just gonna go to the App
Store here and I’m gonna search for coinbase I’m gonna select the first
option here and this is what the app looks like is to see so I’m just gonna
go ahead and download the app for the first time on this phone alright let’s
open the app so now we need to sign up if this is our first time using the app
we want to click sign up that’s right in the center I’m just gonna fill this out
I had to use numbers and a special character for my password next I need to
verify my email so here’s the email from coinbase to verify my email address I’m
just gonna press that it’s asking me to select my state and now I just need to
look at the terms and conditions and press I agree all right now I got a
press complete I can’t set up so we need to verify our phone number alright
our phone number is verified and the last thing is we need to verify a
payment method because we need to transfer money into this account in
order to be able to buy Bitcoin or the other currencies so again coinbase is
not just a place to buy and sell currencies it’s also a digital wallet so
if you put in US dollars in this case it’s gonna store it for you so you could
use it to trade and once you have your Bitcoin or other currencies it’s gonna
store those for you too so it’s also a digital wallet
so as you could see if we use a bank account it’s gonna take four or five
days to process but the prices are locked in the time you buy them so it
says prices are locked and today but it takes four or five days to process you
could also use credit or debit cards the fees are a bit higher so I recommend
using a bank account if you can or you could deposit funds into coinbase the
third option and that allows you to buy and sell instantly but in this case
let’s just go with the first option it’s the one that’s recommending choose your
bank sign in to your bank alright the bank is all sign-in I chose
my account and I’m gonna press invest now so let me just exit out of here this
is the page you automatically took me to to buy and sell Bitcoin but let me just
show you the interface here on the first page here on the prices
that’s if you look underneath there is five icons right now so prices show you
the prices of Bitcoin aetherium and litecoin and this is where they stand at
the time of this recording and next to that you’ll see accounts and on their
accounts you’ll see how much you have invested in each coin so these are the
three coins listed again like I said before you may see more coins when you
watch this video because digital assets are coming out all the time digital
currencies and they may be added to the coin based platform
so that’s your account I’m gonna skip bye for now alerts allows you to create
price alerts so if you want to know when Bitcoin hits 16000 for example you could
go there and you could set it to be below or above 16000 so let’s say you
have some Bitcoin and you want to sell at 16000 you set this to 16000 and you
change is to above and then you say create
alert so now if Bitcoin hits 16,000 I’ll know about it now if you want to add a
second alert there’s a plus sign on top of there and you could add a second
alert this time let’s do below maybe if he gets to below 14,000 we’ll sell there
so we’ll create that alert again you could do this in theorem or litecoin
they all have the same setting so that’s your price alert and then under settings
you could change your currency to be a different currency these are the
currencies that right now are being used in coinbase so if you have these
currencies you could actually use these currencies to buy digital currencies and
really the it’s really a straightforward app so let’s just jump into buy options
so we went through all the different options on the bottom the buy option is
the one we haven’t gone through and this is really easy to use in this case when
you sign up for Bitcoin it gives you a weekly bank limit so in this case I have
10,000 it’s gonna vary based on your application so it might not be ten
thousand in yours you could actually increase this limit by contacting them
so in this case let’s say I want to spend a hundred US dollars and I want to
buy Bitcoin with it in this case I’ll get point zero zero six again this is
the value of Bitcoin right now so this is what it’s getting me right now and
it’s kind of deposited to my wallet so in this case it’s the Bitcoin wallet and
it’s really pretty straightforward if I wanted to buy like corn for example
let’s jump over to the litecoin tab on top let’s say if I wanted to buy a
hundred US dollars that’ll give me a little over half of a light coins so
based on the value right now I believe in this case is one hundred forty one
dollar so it’s getting me 0.63 light coins and all I gotta do is press buy on
the top and right now it says like lowering price is at 153 actually and
it’s telling me where it’s gonna use my funds and I could press confirm by right
on the bottom I’m not gonna do that at this time but he says funds will be
debited today and now this is an interesting part you see coinbase fees
it says $2.99 so I’m just gonna press this question mark there is a fee every
time you make a transaction coin base and it really depends on your
exchange method and which method of payment you’re using so that’s why we’re
saying if you use credit or debit cards this fee is gonna be higher so make sure
on the coin base fee you look at the fee that you’re spending on each transaction
in this case I’m spending $100 and I’m getting a 2.99 so almost a three dollar
fee so make sure you know what the fees are before you confirm to buy and make
sure you’re okay with that so now let me show you how you sell your bitcoins so
I’m just on the first type prices let me go to our counts and these are my
different wallets right now I don’t have anything in either one but let’s go to
bet coin wallet and under Bitcoin wallet just like you had the option to buy in
the buy tab here you have the option to sell so if I press sell so this is where
you would sell your Bitcoin obviously I don’t have any so it’s not gonna give me
the option to sell but that’s where you sell your bet coin here and on top here
you could actually send bitcoins to someone else so if you see that
messenger icon here if I press that I could choose now amount of Bitcoin and I
could send that Bitcoin and if I want to know what my Bitcoin addresses if I want
to send it to someone else to get Bitcoin I could press this QR code and
this is my bet coin address so I could share this via email text message or I
could just copy that address and that’s my bet coin address and I could paste
that and send it to someone else so those are the ways you could send or
receive and buy and sell all in the same page again this was on their accounts
and in any of these wallets so for a light coin for example this is has the
exact same layout and it will show you your transaction as you start creating
transactions right now I don’t have any but they’ll populate here underneath
alright let’s jump into the computer screen since I set it up on my mobile
app I want to use the web browser version to sign in so I don’t have to
sign up again I know my sign-in I’m just gonna sign in here
and it looks like because it’s my first time shining into the browser version
it’s gonna send my phone a text message so I’m gonna check that text message and
type in my verification code here alright again since I signed up for the
mobile app it’s already set up so linked to my bank account and everything
is ready to go so I could start buying and selling this browser version it
works pretty much the same way you have your dashboard where it shows you the
prices of the different currencies so up here you could click between the three
and it shows you the all-time chart you could do your buy or sell here same way
as the mobile app pick your currency that you want to buy and sell your bank
account should be already linked here and then type in the amount of your
currency – how much Bitcoin or litecoin or thorium you want to buy and then go
ahead and press buy and if you go under accounts it will show you your digital
wallets here and there’s also a USD in this case a u.s. dollar wallet that’s
not enabled I didn’t set it up I linked it to my bank account but if you have US
dollar money here and then you could use that to do transactions here mine is not
enabled but you could also enable that here and it gives you a higher limit and
the other options and if you want more security and if you have a large amount
of money in your wallets there is a vault option that lets you store your
digital assets here and again it says ideal for larger balances so you could
create a vault through this option so back to the buy and sell here’s your
sell tab so if you want to sell it’s the same way as the buying process you tell
her how much pickle you want to sell and it’ll tell you how much dollars that’s
gonna be and then I’ll show you one last thing on their settings if you wanted to
increase your limits you could go to limit and you could
increase your limit here and you basically just have to verify some
things to increase your limit so either by doing trades you could increase your
limit here if you’re using a debit card or you could use the bank account verify
your identity and that will allow you to increase your limit if you wanted to do
more transactions on this platform same thing with your selling limit right now
mine is set to ten thousand again yours may not be it all depends on your setup
on your bank account in the way you verify things so far and one last thing
if you go to your accounts tab over here you could invite a friend and you could
get ten dollars in your account you used to buy Bitcoin
so you could press invite a friend and use it to invite a friend and get that
$10 a free Bitcoin in your accounts it’s a really easy way to get you started
with using this app and getting some free money I hope you found this helpful
I hope you’re successful in your trades please give this video a thumbs up and
subscribe to this channel I’ll be posting daily tech tutorials just like
this one and I really hope to see you on next video
best of luck trading and see you next time.