Bitcoin

How to Buy Bitcoin: A Beginner’s Guide to CoinBase

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Transcript:

Hello – todays tutorial is for people who are curious about buying Bitcoin, or people who are interested in how to sign up with Coinbase, a Bitcoin exchange, or people who are interested in getting $10 of Bitcoin for free, just for buying a bitcoin if its your first time signing up with coinbase.

So, at the making of this video Coinbase – and I’ll talk more about why I chose Coinbase in particular, supports Singapore, Australia, a bunch of countries in Europe, pretty much all the major countries, and Canada/The United States. If you’re not in one of these listed countries go ahead and see if anything has changed there, if you’re interested – but if you’re in the United States then you’re good to go. If you search google for “Bitcoin exchange reviews” this is the first page that comes up, its by 99bitcoins they do reports on Bitcoin all the time. They recommend coinbase, it does have a very good reputation, its safe, its easy to use, the fees are pretty low, and they accept a lot of different payment methods including credit cards. So if its your first time buying Bitcoin I always recommend people to use Coinbase, and you can always transfer your bitcoins to a different wallet later. If you want to know more about Bitcoin wallets that’s beyond the scope of this video, but there’s plenty of information out there.

Anyway to get started you want to go to Coinbase — but anyway this is part of the Bitcoin referral program, and this is why you’ll be able to get $10 of free bitcoin if you follow my referral link that will be posted along in the description of this video, and how it works is you sign up and once you buy $100 worth of bitcoin or more you earn $10, I earn $10, we both get $10 of free Bitcoin. If you just do the regular signup without a referral then you don’t get the $10.

But anyway you just enter in your information – so I already signed up so it takes me straight to the dashboard. Normally it will have you enter in your email address, and have you verify your email address. You just go into email, click the verify link, and your good to go. Next they’ll want you to, if you’re buying Bitcoin you’lll need a phone number and either a card or a bank account. You can confirm your bank account the same way Paypal does by temporarily depositing 2 different deposit amounts, and then it takes a couple days but you enter the amount that they deposited and that verifies your bank account.

I think you can skip that step if you’re using a card, so by clicking Add Payment Methods you can use Paypal, a Bank account, or a credit or debit card. But with the bank account like I said you have to verify it, with the credit card you just put in your card number, billing address, and you should be good to go. However there is this 2.75% convenience charge with credit card. You don’t have this with the bank account, once its verified. There’s no fee – at least in the US there is the HCH transfer, I think there’s something equivalent to that in Europe but I’m not sure, I live in the US so I haven’t had to deal with that. Let’s see, I forgot what the deal with Paypal is – I don’t believe there’s an extra fee with Paypal.

But anyway you go to the Dashboard and you have this graph, you can zoom in by the time increments here – as you can see there has been a lot of activity recently, here’s basically all of 2016 – it’s gone up quite a bit, it’s gone up more then twice as much over the course of the year which is pretty impressive. You can also buy Ethereum which I don’t think is performing quite well as Bitcoin. It looks bad when you look at this chart, but its only $7 difference while as Bitcoin has gone up by almost $530 this year.

But anyway once you are signed up you can also make money doing referrals, referring your friends, you get $10 if they sign up etc. Anyway its pretty easy to use, and so good luck to you all out there.