How to Setup and Use Coinbase to Get Bitcoins
If you’re looking for information on how to get bitcoins, this post is for you. It’s a how to article from the ‘What is a Bitcoin’ series of post.
Just so you’re aware, this article contains affiliate links. This means that if you click on one of the ‘Coinbase’ links, open an account and buy $100 (or the equivalent) of cryptocurrency I’ll receive $10 in bitcoins from Coinbase. There is no cost to you. Coinbase will also give $10 in bitcoins back to you. So it’s a win / win. You get $10 in bitcoins deposited to you at no cost and I can afford to keep this blog running providing you with, I hope useful information.
So, moving on. If you’re looking for a general introduction to what is a bitcoin you should also check out, 5 Essential Bitcoin Facts. This article though will show you how to get bitcoins using the Coinbase app.
By the way, in my free beginners guide to bitcoins I give a guide to the absolute bitcoin beginner. It’s delivered in email format over 5 lessons.
In lesson 5 of the course I walk the beginner through how to get bitcoins. If you don’t have time to take the course, read on but keep in mind the post is focused on the Coinbase app only.
Coinbase provides a secure online platform for buying, selling, transferring, and storing digital currency. As well as bitcoins, you can buy / sell ethereum and also litecoin. You can convert these digital currencies into and out of your local currency. At the moment they support USD, EUR and GBP.
Once you’re setup you can send and receive digital currency (which I’ll call cryptocurrency from here) between online wallets, friends, or merchants on Coinbase.
Unlike other firms, they offer a “one stop shop”. So you get a combined wallet and exchange – somewhere to buy and sell within the same app.
They provide services to a variety of countries including Australia, Canada, Singapore, the United States, the United Kingdom. They also service many European countries including Austria, Belgium, Denmark, Finland, Holland, Monaco, Spain, Switzerland and Sweden.
To get bitcoins using Coinbase you must firstly live in one of the countries listed above and then upload a form of ID from the country you live. But we will get to that below. Firstly I’m going to walk you through step by step how to set up the app on your mobile.
This instruction is written assuming you have an Android phone such as Samsung however, the screenshots below will be very similar to what you’ll see on your iPhone.
Go to your Google Play on your phone.
In the white search box at the top, type in ‘Coinbase’. The result should look like what you see in the screenshot below.
Press the green INSTALL button.
Once installed, the Coinbase app will show on your apps screen on your phone.
Press the app to open it and it will show you the screen you see below.
The currency shown in the chart above is in UK pounds. The currency should show automatically based on which country you download the app from. For example, if you’re in the US or Europe you’ll see the currency is either US dollars or Euros.
Hit Sign up and you should see the following screen.
Complete with your email, first and surname. Choose a password you’ll remember. This password is only used to access the app or Coinbase.com via the desktop browser.
Hit Sign up and then you’ll see the following screen –
Go to your email inbox and you should see a confirmation email. It should appear immediately, if not leave it 5 or so minutes and then check again or alternatively check in your spam folder.
Click on the link in the email and you’ll be directed back to the app. You’ll see the license agreement which you need to agree to so you can get bitcoins.
The one you see in the screenshot below is the user agreement specifically for users in the UK. There’s a different one for residents in the US and Europe.
Once you’ve read and are happy with the agreement click on I AGREE.
You’ll then be taken to the screen you see below – the Dashboard. So far then all you’ve done is set up the account with your email address. For you to then buy to buy bitcoins, ethereum or litecoin you’ll need to transfer money to the account. However, before you must complete the identification process.
For this you need to navigate to settings, you can get to there by tapping the area circled in red, as shown below.
You’ll be then taken to a new screen which you need to scroll down to settings. This is shown in the image directly below.
By tapping setting you’re taken to the screen shown on the left below. Here you should tap the Identity verifications – which you can see at the bottom. Then you’re at the screen shown on the right.
You’re given a choice as to what you’d like to set up with ID card, driver’s license or passport. I chose driving licence. Remember that this has to be issued in the country you’re residing.
I used my driving license. It’s easy to do. Click on the Drivers licenses tab and you’re taken to a new screen.
Just take a phone of the front and then you’ll be prompted to do the same for the back.
And then you’re done! It takes about 24 hours for Coinbase to set up your ID within their system. Once that’s in place you can fund the account.
I’ll take you through this process using my own account as an example. I’ll also walk you through a bitcoin purchase using the app. These will be in posts to come so be sure to return.
As a quick reminder, you can sign up for free beginners guide to bitcoins here. Students are the first know of new posts to the blog. Plus they get access to free bitcoin beginner webinars.