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 which is great for beginners.
In addition, Coinbase has a dollar-cost averaging feature where you can automatically buy cryptocurrency every week.
If you’re 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’ll learn how to create a Coinbase account so that you can verify your account and start buying cryptocurrencies.
How to create a Coinbase account
To create a Coinbase account, you need to download the Coinbase app and verify your email.
Next, verify your phone number, provide your information, upload your ID, and upload a proof of address.
Once you’ve uploaded your ID, you need to wait for 2 to 3 minutes for it to be reviewed.
After 2 to 3 minutes, you’ll know the review status of your ID.
If successful, you’ll land on the homepage of Coinbase where you can start buying cryptocurrencies.
If unsuccessful, you need to retake the front and back of your ID.
The account creation process also requires you to answer some questions regarding your income, employment status, and more.
Federal regulations require Coinbase to ask you those questions.
This is also known as the Know Your Customer (KYC) process.
Here is how to create a Coinbase account:
- Use a referral link to create a Coinbase account
- Create a Coinbase account
- Verify your email & phone number
- Provide your information
- Answer a few questions
- Upload your ID
- Upload proof of address
- Wait for 2-3 minutes
1. Use a referral link to create a Coinbase account
Get $10 USD in free Bitcoin by using this referral link: https://www.coinbase.com/join/lim_di1.
The first step is to use a referral link to create a Coinbase account.
Firstly, use this referral link to create an account: https://www.coinbase.com/join/lim_di1.
By using a referral link, you’ll get $10 USD of free Bitcoin.
To be qualified, you need to buy or sell $100 USD or more within 180 days of opening your account.
The amount can happen over multiple purchases—like 5 purchases of $20.
It does not need to be $100 in a single purchase.
2. Create a Coinbase account
After you’ve clicked on the referral link, you’ll see multiple fields.
This includes “First Name”, “Last Name”, “Email”, and “Password”.
Firstly, enter your first name in the “First Name” field.
Secondly, enter your last name in the “Last Name” field.
Thirdly, enter your email address in the “Email address”.
Fourthly, create a password (minimum 8 characters) and enter it in the “Password” field.
3. Verify your email & phone number
After you’ve clicked on “Create account”, you’ll land on the “Verify your email” page.
Now, a verification link will be sent to your email.
Firstly, check your email for the verification link.
Next, click on the verification link to verify your email address on Coinbase.
If you didn’t receive the email, make sure to check your junk and spam inbox.
Alternatively, you can resent the email by clicking on “Resend email”
The email will typically arrive in less than 5 minutes.
After you’ve verified your email address, you need to set up 2-step verification.
This extra layer of security is required for you to create your Coinbase account.
Firstly, enter your phone number in the “Phone” field.
Next, click on “Continue” to continue to the next step.
After you’ve entered your phone number, you’ll 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.
Then, paste it in the “Code” field and click on “Continue”.
If you didn’t receive the code after 5 minutes, click on “Resend code” to resend the code.
4. Provide your information
After you’ve verified your phone number, you’ll need to select your citizenship.
Click on the “Citizenship” field and select your citizenship.
If you’re a citizen of more than one country, you only have to pick one.
Click on “Continue” to proceed to the next step.
After you’ve selected your citizenship, you’ll need to enter your personal information.
This includes your legal first name, legal last name, and date of birth.
Firstly, enter your legal first name in the “Legal first name” field.
Secondly, enter your legal last name in the “Legal last name” field.
Thirdly, enter your date of birth in the “Date of birth” field.
You need to be at least 18 years old to create a Coinbase account.
If you’re under the age of 18, you need to wait until you turn 18 to create an account.
Click on “Continue” once you’ve completed all the fields.
Now, you need to enter the street address of your primary residence.
Do not use a PO box or a business address.
Firstly, enter your residential address in the “Residential address” field.
Next, enter your Apartment number and your city or town in the “Apartment number” and “City or town” fields respectively.
Lastly, enter your postal code in the “Postal code” field and click on “Continue” to proceed to the next step.
5. Answer a few questions
After you’ve entered your address, you’ll need to answer a few questions.
The questions include “What will you use Coinbase for?”, “What’s your primary source of income?”, “What’s your employment status?”, and more.
You also need to answer questions like “How much crypto do you expect to trade per year” and “What industry do you work in?”.
Coinbase is legally required to collect that information due to federal regulations.
There should be 5 questions in total.
6. Upload your ID
After you’ve answered the questions, you’ll 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 you’ve selected “ID Card”, you need to take a photo of the front and back of your ID.
Make sure that your ID is fully in frame, with your full name, date of birth, and ID number clearly showing.
Do note that your photo ID and actions captured during the ID verification may include biometric data.
7. Upload proof of address
After you’ve uploaded your ID, you need to upload proof of address.
This is because regulations require Coinbase to collect a second document to verify the address you provided.
Select “Bank Statement” to upload a bank statement.
Make sure to upload a PDF copy of a bank statement under your name that is less than 3 months old.
8. Wait for 2-3 minutes
After you’ve created your account, secured your account, and verified 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 homepage of Coinbase where you can start buying cryptocurrencies using a debit or a credit card.
If unsuccessful, you need to retake the front and back of your ID.
An unsuccessful review usually means that the photo of your ID is not clear.
Hence, you need to retake your ID and make sure that the photo is clear.
You’ve successfully learned how to create a Coinbase account!
After you’ve created a Coinbase account, you’ll be able to buy cryptocurrencies.
If you’re using Coinbase on a desktop, you can do so by clicking on the “Buy / Sell” button.
On the other hand, if you’re using the Coinbase mobile app, tap on the reverse icon, 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 instead.
However, Coinbase Pro is not supported in some countries.
Hence, you need to check whether your country is supported on Coinbase Pro before you use it.
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