Coinbase is one of the most popular cryptocurrency exchanges in the world.
Founded by Brain Armstrong and Fred Ehrsam in 2012, Coinbase has more than 1,000 employees and over $1 billion in revenue in 2021.
If you’re looking to buy Bitcoin, Ethereum, or other cryptocurrencies, Coinbase makes it simple.
The exchange has a simple user interface that is great for beginners.
In addition, Coinbase has a dollar cost average feature where you can automatically buy cryptocurrency every week.
If you are more experienced, you can use Coinbase pro, which has lower fees and more features.
Coinbase Pro allows you to place market, limit and stop orders.
In this guide, you will learn how to create a Coinbase account so that you can verify your account and start buying cryptocurrencies.
Table of Contents:
How to create a Coinbase account
To create a Coinbase account, you need to download the Coinbase app and verify your email.
Then, verify your phone number, provide your information, upload your ID, and upload a proof of address.
Once your ID is uploaded, you have to wait 2 to 3 minutes for the review.
After 2 or 3 minutes, you will know the revision status of your ID.
If successful, you will land on the Coinbase homepage where you can start buying cryptocurrencies.
In case of a negative outcome, it is necessary to resume the front and back of the identity document.
The account creation process also requires you to answer a few questions related to your income, employment status, and more.
Federal regulations require Coinbase to ask you these questions.
This is also known as the Know Your Customer (KYC) process.
1. Use a referral link to create a Coinbase account
The first step is to use a referral link to create a Coinbase account.
First, use this referral link to create an account: https://www.coinbase.com/join/lim_di1.
By using a referral link, you will get $10 USD worth of free Bitcoin.
To qualify, you must buy or sell $100 USD or more within 180 days of opening your account.
The amount can occur on multiple purchases, such as 5 purchases of $20.
It doesn’t need to be $100 in a single purchase.
2. Create a Coinbase account
After clicking on the referral link, you will see more fields.
This includes “First Name”, “Last Name”, “Email” and “Password”.
First, enter your name in the “Name” field.
Secondly, enter your last name in the “Last Name” field.
Thirdly, enter your email address under “Email Address”.
Fourthly, create a password (minimum 8 characters) and enter it in the “Password” field.
Finally, accept the user agreement, privacy policy and click “Create Account”.
3. Verify your email and phone number
After clicking on “Create Account”, you will land on the “Verify your email” page.
Now, a verification link will be sent to your email.
First, check your email for the verification link.
Then, click on the verification link to verify your email address on Coinbase.
If you haven’t received the email, be sure to check for junk mail and spam.
Alternatively, you can resend the email by clicking “Resend Email”
The email will typically arrive in less than 5 minutes.
After verifying your email address, you need to set up 2-step verification.
This extra layer of security is necessary to create your Coinbase account.
First, enter your phone number in the “Phone” field.
Then, click “Continue” to continue with the next step.
After entering your phone number, you will land on the “Enter authentication code” page.
Coinbase will send you a text message containing a 7-digit code.
Check your text messages and copy the 7-digit code.
Next, paste it into the “Code” field and click “Continue”.
If you haven’t received the code after 5 minutes, click “Resend the code” to resend the code.
4. Provide your information
After verifying your phone number, you will need to select your citizenship.
Click on the “Citizenship” field and select your citizenship.
If you are a citizen of more than one country, you need to choose only one.
Click “Continue” to proceed to the next step.
After selecting your citizenship, you will need to enter your personal information.
This includes your legal first name, legal last name and date of birth.
First, enter your legal name in the “Legal name” field.
Secondly, enter your legal surname in the “Legal surname” field.
Thirdly, enter your date of birth in the “Date of birth” field.
You must be at least 18 years old to create a Coinbase account.
If you are under the age of 18, you must wait until you turn 18 to create an account.
Click “Continue” after completing all the fields.
Now, you need to enter the address of your primary residence.
Do not use a PO Box or business address.
First, enter your residential address in the “Residential address” field.
Then, enter the apartment number and your city or city in the “Apartment number” and “City or city” fields respectively.
Finally, enter your zip code in the “Zip Code” field and click “Continue” to proceed to the next step.
5. Answer a few questions
After entering your address, you will have to answer some questions.
Questions include “What will you use Coinbase for?”, “What is your main source of income?”, “What is your employment status?”, and more.
You also need to answer questions like “How much cryptocurrency do you expect to trade per year” and “What industry do you work in?”.
Coinbase is legally required to collect such information due to federal regulations.
There should be 5 questions in total.
6. Upload your ID
After answering the questions, you will need to verify your identity.
You can verify your identity using three methods.
This includes your ID card, driver’s license or passport.
If you want to use your ID card to verify your identity, select “ID Card”.
After selecting “ID Card”, you need to take a photo of the front and back of your ID.
Make sure your ID is fully framed, with your full name, date of birth and ID number clearly displayed.
Keep in mind that your photo ID and actions captured during identity verification may include biometric data.
7. Upload proof of address
After uploading your ID, you need to upload proof of address.
This is because regulations require Coinbase to collect a second document to verify the address provided.
Select “Bank statement” to upload a bank statement.
Be sure to upload a PDF copy of a bank statement in your name that is less than 3 months old.
8. Wait 2-3 minutes
After creating your account, securing your account, and verifying your identity, Coinbase will review your ID.
The review will take about 2 to 3 minutes to complete.
If successful, you’ll land on the Coinbase homepage where you can start buying cryptocurrencies using a debit or credit card.
In case of a negative outcome, it is necessary to resume the front and back of the identity document.
A failed review usually means that the photo of your ID is unclear.
Then, you need to take back your ID and make sure the photo is clear.
You have successfully learned how to create a Coinbase account!
Conclusion
After creating a Coinbase account, you will be able to buy cryptocurrencies.
If you are using Coinbase on a desktop, you can do so by clicking the “Buy/Sell” button.
On the other hand, if you are using the Coinbase mobile app, tap on the icon on the back, then tap on “Buy”.
If this is your first time buying a cryptocurrency on Coinbase, you need to add your debit or credit card.
The fees on Coinbase are quite high, so if you’re looking to buy cryptocurrencies consistently, you can use Coinbase Pro.
However, Coinbase Pro is not supported in some countries.
So, you need to check if your country is supported on Coinbase Pro before using it.
