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Looking to get started with buying crypto? In this post, we’ll show you how to use Coinbase Wallet to buy crypto like Bitcoin, Ethereum, and more.
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Introduction
Coinbase is a US-based cryptocurrency exchange that offers its users a wallet for storage of their digital assets. The Coinbase wallet is a non-custodial wallet, which means that the private keys are stored on the user’s device and not with Coinbase. This guide will show you how to buy cryptocurrency with Coinbase Wallet.
What is Coinbase Wallet?
Coinbase Wallet is a software product that gives you access to the cryptocurrency market. With Coinbase Wallet, you can store, send, and receive digital currency like Bitcoin, Ethereum, and Litecoin. You can also use Coinbase Wallet to manage your private keys, staking rewards, and more.
How to Buy Crypto With Coinbase Wallet
You can use Coinbase Wallet to buy crypto with your debit card, credit card, or bank account. You can also use Coinbase Wallet to trade crypto. If you’re new to Coinbase Wallet, you can get started by following these steps.
Step 1: Set up a Coinbase account
Before you can start using Coinbase Wallet to buy crypto, you’ll need to set up a Coinbase account. If you don’t already have a Coinbase account, visit Coinbase.com to get started. Creating a Coinbase account is free and only takes a few minutes.
Once you’ve completed the sign-up process, you’ll be able to log in to your new account. On the main dashboard, you’ll see an overview of your account activity and recent transactions. In the top-right corner, there’s a menu where you can access your wallet address, buy/sell crypto, deposit fiat currency, and more.
To buy crypto with Coinbase Wallet, click on the “Buy/Sell” tab in the top-right menu. On the next page, select the “Wallet Address” tab. Here you can see all of the different cryptocurrency addresses that are associated with your Coinbase Wallet. To buy crypto, simply click on the “Buy Crypto” button and enter the amount of cryptocurrency that you want to purchase.
Step 2: Verify your identity
The second step is to verify your identity. In order to do this, you will need to provide Coinbase with some personal information, such as your name, date of birth, address, and phone number. You will also be asked to take a selfie with your ID in hand. Coinbase will then use this information to verify your identity.
Step 3: Connect your bank account or debit card
In order to buy crypto, you’ll need to connect your bank account or debit card to your Coinbase Wallet.
If you’re using a bank account, you’ll need to have your ACH authorization ready. This can be done by providing the necessary bank login information when prompted by Coinbase Wallet.
If you’re using a debit card, you’ll need to have your card number and expiration date ready. You will also be asked for your full name and billing address.
Step 4: Buy crypto
To buy crypto, you’ll need to go to the “Buy Crypto” page on Coinbase.com or open the Coinbase Wallet app, select the type of cryptocurrency you want to buy, enter the amount of fiat currency you want to spend, and then click “Buy now.”
If you’re buying with a linked bank account, debit card, or PayPal account, your limits will be higher. Limits are also higher if you buy with wire transfer.
Here are the current limits for buying crypto with a linked bank account, debit card, or PayPal:
Bank Account: $25,000/day
Debit Card: $7,500/day
PayPal: $10,000/day
You can view your current limit by going to the “Buy Crypto” page on Coinbase.com or opening the Coinbase Wallet app and selecting your payment method.
Conclusion
As you can see, buying crypto with Coinbase Wallet is a simple and straightforward process. All you need to do is create a Coinbase account, connect your wallet, and then make your purchase. With just a few clicks, you can be on your way to owning the latest and greatest cryptocurrencies.
