In this article we are going to discuss about Coinbase.
Coinbase ? What is it ?
Now its the era where the world is dealing with cryptocurrencies. i should say bit coin played a major role for this because of its climbing value. Currently there are many currency exhangers, one of the most popular is Coinbase. Ii is a platform where we can Buy, Store, Transfer, and store digital currencies. It was founded in the year 2011 by Brian Armstrong and Fred Ehrsam. It is headquartered in San Francisco, California, United States.
They Broker Exchange Bitcoin, Litecoin, Ethereum and many other digital currencies. In the year 2017 coinbase got the Bitcoin license for trade. In the same year they weree approved to trade etherum and litecoin too. On December 2017, it launched Bitcoin Cash Support.
Coinbase is a wallet ??
No, coinbase is not a wallet. often many people confuse between wallet and exchange, using wallet you can spend your bitcoin cash for day to day expenditures. Using coinbase is like a exchange. you can convert your local currency into digital currencies such as bitcoin, litecoin, ethereum and many others as a investment. Its better to maintain both Exchange and Wallet.
Is Cionbase safe ? Is it safe to link your Bank account ?
yes, it is safe. It is a Exchange service. Negligible chances of hacking issues. If its hacked through their mails, It is likely to blame own selves. The users account numbers are stored using level AES-256 encryption on their servers. so it is safe.
How to use Coinbase ?
- The first step to register at official coinbase website.
- Link your bank account to your profile to enable higher trancaction range.
- After linking load your profile with Cryptocurrency of your choice .
- After loading, If you want to Send or Request currency, Follow the steps below.
- In the top left corner of the webpage, you see a option Send/Request. Decide weather you want to send or request currency to someone.
- For Sending and Requesting currecy, you have to fill the same information such as
- Recipient (details of person you want to send or request currency)
- Amount (you can load amount from your wallet you wish like bitcoin wallet, USD wallet)
- Note ( u can send any description about the amount you are sending or requesting )
- click on Send funds/Request funds .
Does coinbase supported in your country ?
Currently coinbase supports its brokerage sercices in Canada, United kingdom, United states, Singapore and most of the european countries.
How to know if my Transaction is successful?