how to buy bitcoin on coinbase with bank account

To purchase Bitcoin on Coinbase via your bank account, set up an account, verify your identity, link your bank details, select the amount you wish to buy, review the transaction details, and confirm your purchase.

Nov 04, 2024 at 10:00 am

How to Buy Bitcoin on Coinbase with a Bank Account

Step 1: Create a Coinbase Account

• Go to Coinbase.com and click "Get Started".
• Provide your email address, create a password, and verify your email address.

Step 2: Verify Your Identity

• Provide your full name, address, date of birth, and Social Security Number.
• Upload a government-issued photo ID (e.g., driver's license, passport).

Step 3: Link Your Bank Account

• Click "Payment Methods" and select "Bank Account".
• Enter your bank details and verify your account via Plaid or a small deposit.

Step 4: Purchase Bitcoin

• Go to the "Buy/Sell" page and select "Bitcoin".
• Enter the amount of Bitcoin you want to purchase.
• Select "Bank Account" as the payment method.
• Review the transaction details and confirm your purchase.

Step 5: Store Your Bitcoin

• Your Bitcoin will be stored securely in your Coinbase wallet.
• You can also transfer it to a hardware wallet for enhanced security.

Additional Tips:

• Set up recurring buys: You can purchase Bitcoin on a regular basis (e.g., monthly or weekly) to take advantage of dollar-cost averaging.
• Use a limit order: If you want to buy Bitcoin at a specific price, you can create a limit order that will automatically execute when the market reaches your desired price.
• Consider the fees: Coinbase charges a fee for each Bitcoin purchase. The fee varies depending on the payment method and the size of the transaction.
• Monitor the market: Keep an eye on the Bitcoin price to make informed decisions about when to buy and sell.