Barely a day goes by right now without someone bringing up the subject of Bitcoin, and with values hitting all-new highs of late before dropping now, it is easy to understand why so many people are asking about the cryptocurrency.
While Bitcoin is so popular and, importantly, so valuable, there will always be people looking to get in on the ground floor and see what all the fuss is about. Thankfully, that is fairly easy to do, and it can all be done from your smartphone.
Whether you are using an iPhone or an Android device, Coinbase is an app and service that will make it as easy as possible to get started with Bitcoin. Whether you are dipping your toe in or taking things to the next level, Coinbase should have what you need. Here’s what you need to do.
Step 1: Open Safari or Chrome and sign up for Coinbase using the link here. Verify your identity. Yes, we know Bitcoin is supposed to be all private and such, but if you want an easy way in, this is the price you pay. The process will differ depending on your country of origin, too.
Step 2: Download the Coinbase app from either the App Store or Play Store.
Step 3: Once all verified, you will need to connect your bank account to Coinbase. Again, the process will be different depending on where you live, but if you’d prefer to use a credit card or debit card, you can – just be aware the limits may be lower.
Step 4: Buy your first Bitcoin. It may take a little while for your identity to be confirmed, but once that has happened, going to the Coinbase home screen will show you the current price. Tapping the Buy button leads to entering the amount of Bitcoin you want to buy. Now just select the wallet you want the Bitcoins dumped into and away you go.
Step 5: This is an optional step, but if you want to sell Bitcoin, then simply tap on Sell from the Coinbase home screen. You’ll need a bank account connected in order to withdraw your cash, but once you tell the app how much you want to sell, you’re all done.
Just remember folks, Bitcoin can go down in value as well as up; there really is no such thing as a free lunch.
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