Coinbase – The Best Platform Available To Trade Smarter!
You should know that the global economy is forwarding towards the digital system. Everything will be going paperless, from investing money to transferring funds to others. One of the prominent addition to the payment sector is cryptocurrency, and it is the newest as well as promising one. It is one of the media used for exchanging regular currencies, and it is designed for the purpose of exchanging some digital information.
If you need to trade your digital currencies, then you are in need of a platform that helps in trading them. In addition to that, you require an intermediary for making communication with the network. Coinbase is the trusted platform that allows people to store, buy, and sell their cryptocurrencies. If you are a crypto newbie, then you should surf the internet to know about the Coinbase platform, and How do I get my money out of Coinbase? Keep on reading the upcoming sections to gain some more knowledge about this.
Cash-out your money!
As discussed earlier, Coinbase is one of the best broker exchange for selling as well as buying Bitcoin. They will be processing many transactions over bitcoin when compared to other broker exchanges. The important thing is they have more than 13 million customers. They also have a mobile application. This platform will be available for both Android as well as iOS users. So, people can make use of the app from the comfort of your home. If you are a beginner, you should not know How to get your money out of Coinbase? You have to do specific steps to cash out the bitcoin. While using Coinbase, you have to do the following steps, and they are,
- The first step is you have to open the account using Coinbase. Then you should link your bank account and make a deposit in your account.
- After setting up the account, you are requested to send your bitcoin to the address of Coinbase. To proceed further, you should click the accounts tab and open the bitcoin wallet. Then click the ‘receive’ button. It shows the Coinbase bitcoin wallet address. Using this address, you have to send the bitcoin.
- Once done with these setups, you have to click the button ‘Buy/Sell,’ which is present at the top of the page.
- Then click on the ‘Sell’ button. Here come the steps for cash out the bitcoins. The default fiat currency will be changed based on your location. Note: Taking, for instance, US customers will be having the option of withdrawing the USD, and so on. You can also be able to see your withdrawal limit as well. In the case of a verified account, the limits will be high. If you want to increase this limit, you should click on the ‘See Limits’ and do the additional instructions.
- Before making a withdrawal, you should exchange the bitcoin for the local currency. You have to enter the Bitcoin amount you need to sell.
- Then click on the icon ‘Sell Bitcoin Instantly.’ Now, the funds will be in the current fiat wallet.
- The final step is to withdraw the amount. For that, click your fiat currency wallet and then click the withdraw option.
- Congrats!!! Now you are aware of the thing ‘How do I get my money out of Coinbase?’. In case if you are facing any troubles with these steps, you are free to contact Coinbase customer service and clear them instantly.
Know about the features of Coinbase
Provides trusted crypto:
The Coinbase platform is considered to be an entry point for the crypto market. Using this, one can also purchase Bitcoin, Ethereum, bitcoin cash, and much more. These are the things in which you can buy using this platform because it offers coins, which are the guaranteed commodities. Hence, Coinbase is one of the safe and secure platforms for trading bitcoins.
This platform is having a very easy to use interface, which makes it an excellent tool for providing services for beginners. It offers the best design for navigating quickly, and many options you want are right at the tip of your finger.
Coinbase accepts Fiat:
Unlike traditional exchanging platforms, it accepts plenty of fiats used for exchanging four varieties of currencies. This platform will be accepting USD, GBP, and EUR. In addition to that, it also offers a wide range of payment methods for helping the customers to get their money to buy crypto. It also includes debit or credit cards, bank transfers, PayPal, and so on.
Offers instant exchange:
If anyone needs to send their money using bitcoin, but they like to make transactions with fiat, this platform will offer a special feature known as ‘Instant Exchange.’ You will be getting instant action. For this, you have to pay using fiat, and the payment will be converted into bitcoin. The positive aspect is this service does not charge any extra fees. So, definitely, you can take this platform into account.
Make use of Shift Card:
If you are seeking the chance to spend the bitcoin in this platform wallet, it is possible with the help of Shift Card. Coinbase debit cards will allow the users to spend their bitcoins form their wallets. It also works as a Visa.
Offers safety to your money:
Many of people think that it is never safe for their money while making an online exchange. But you should know that Coinbase is one of the safe and secure web wallets in which you can make secure online transactions. It is because the platform is keeping 99 percent of their assets in offline cold storage, and it cannot be accessed or hacked. In case if you lost your money from Coinbase, they would give back your money.
Is it safe to use Coinbase?
You should know about the fact that there are only four exchanges that are having a license in NY with the Pilot BitLicense program. Coinbase is one such platform that is having that license. This platform obeys to strict rules of KYC, and they are staying and accommodating the rules and regulations. Any broker exchange agency will require 40 licenses to operate it in the US alone. But the platform has a license to operate in 31 countries.
Also, it keeps all the assets insured. Hence it is not possible to lose any of the money by theft or hacking. The Coinbase platform cannot be used anonymously. It is because one has to submit their government-issued ID as well as verification of address for using this platform. Hence it is one of the added positive aspects to using this platform securely. So, it is impossible to hack or theft money on this platform.
Who can make use of this Coinbase?
As said earlier, Coinbase is one of the best platforms for the beginner in investing their money. You can able to easily use the platform because it is providing a user-friendly interface. It will help you to learn all the things about making online exchanges. This platform allows the users to buy crypto using fiat currency. Hence it will be useful for the users who are looking to buy using fiat. It is an excellent option for smaller investors and business persons, as it offers cheaper fees and better privacy protection.
Deposit time of this platform
The time to deposit will be based on the method you are using to fund your account with Coinbase. For example, if you are using your debit card or credit card for purchasing the bitcoin, you will be getting an instant transaction. But when you are using bank wire, it would nearly take up to three to five days. This is really an important concern because bitcoin prices might go up or go down for the period of taking to deposit funds. In case when you decide to buy a certain amount of bitcoin, you might be buying more when the price is dropped. But when the price is up, you should buy less, or you have to deposit more funds.
Gain the benefits of using Coinbase
If anyone is interested in trading or storing your digital currencies, Coinbase is the best platform to offer prominent services for its users. You will be gaining a lot of benefits when you are using this platform when compared to other broker exchange platforms. You do not need any in-depth knowledge about blockchain technology to use this. It will be offering an easy way to capitalize on the volatility in the market of cryptocurrency.
You can also gain an advantage from the margin trading of Coinbase. It enables one to borrow money from the broker to make some more trades. Hence it is considered to be a short-term loan. The major advantage of using margin trading is, it enhances the leverage as well as buying power. Another thing you have to consider is while utilizing the margin trading, and the Coinbase fees can be cut. It means that you do not need to pay any interest or any additional costs during this time.
In the past few years, people have to wait for several days in order to receive the digital currency after they made a transaction. But as of now, one can able to buy bitcoin and some other currencies from their bank account directly. Coinbase offers a mobile application for the welfare of the people. It has many positive reviews from the customer side as it will be executing all the process instantly. It will be available for both android as well as iOS users. This trading has gained popularity in recent years because it is not only offering a secure wallet but also providing an intelligent platform for all the traders.
After reading all the things mentioned above, now you are aware of the Coinbase platform and especially How do I get my money out of Coinbase? It will be convenient for beginners who are ready to invest. It is a secure platform because it will have many verification processes to safeguard all user accounts. Whether you are using the Coinbase website or its mobile application, it allows the trade of bitcoin seamlessly.